Word: morgan
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Dates: during 1920-1929
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John Pierpont Morgan, who was in Scotland last week, and Owen D. Young, who was in Canada, advised M. Moreau by cable whom to invite from the U. S. Europe today knows better than to expect the President of the U. S. or Federal Reserve Bank Governor Roy Archibald Young to take such responsibility. Messrs. Morgan and Young went to the original Young Plan Conference (and dominated it) backed only by their enormous prestige...
...though the electric utility seems to have been expressly designed for capitalistic development, it is only within the present year that J. P. Morgan & Co., most potent embodiment of U. S. capital, has entered largely into the light and power field. Excited, last week, were U. S. newspapers and U. S. senators when the Morgan utility interests acquired from the Mellon utility interests a group of light and power companies along the St. Lawrence River. Significant indeed was this transaction, but in a larger sense it was only a milestone along the Morgan utility road. When the economic textbooks...
Tracing the electrical activity of J. P. Morgan & Co. would not be difficult if the matter could be expressed in terms of Mr. Morgan personally exchanging bags of gold for turbines and transmission systems. Unfortunately, however, the utility field does not lend itself to such simplification. The House of Morgan is not sole owner of any of the utility companies in which it is interested; its holdings are usually no more than a substantial minority, not including an operating control; and if it chooses to regard itself as investor in many companies but as manager of none, such a position...
Entrance of the Morgan company into the utility field came in January 1929, with the formation of United Corporation, a company established by J. P. Morgan & Co., Drexel & Co. and Bonbright & Co. and with executive offices at 23 Wall St. (Morgan home). By June 29, United Corp. had the following holdings in the following utilities...
...been the Mohawk-Hudson power interest that has brought the Morgan Company most of its publicity as a utility factor. Mohawk-Hudson was organized jointly by United Gas Improvement and General Electric. It functions throughout northeastern New York, with Albany its southern centre. In June (TIME, June 24) two other New York state utilities merged with Mohawk-Hudson, extended the Mohawk-Hudson territory west to Buffalo and northeast along the St. Lawrence. The merged company was christened Niagara-Hudson. New York's Governor Franklin D. Roosevelt is said to be dubious concerning the legality of this merger, although...