Word: morganization
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Dates: during 1950-1959
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Died. Valentina Pavlovna Guercken Wasson, 57, Russian-born Manhattan pediatrician who, with her husband, stood in the absolute front rank of amateur experts on the mushroom; of cancer; in Manhattan. Dr. and Mrs. R. Gordon Wasson (a vice president of J.P. Morgan & Co., Inc.) traveled around the world in pursuit of exotic mushrooms, published in 1957 the two-volume Mushrooms, Russia and History. Probably the most recondite work on mycology ever printed, it was limited to 512 copies, sold for $125, now brings...
...from One. Though other banks have outstripped J. P. Morgan & Co. in total deposits, it has never lost the patrician air of leadership it gained virtually at its founding in 1862. It still does what the elder J. Pierpont Morgan called "only a first-class business and that in a first-class way," serving such blue-chip firms as Du Pont, General Motors, International Harvester, American Telephone & Telegraph and U.S. Steel, many of which it had a hand in building. The bank began by marketing U.S. railroad securities abroad, took the lead in consolidating and merging railroads toward the turn...
...when the Federal Banking Act compelled the separation of investment and commercial banking, J. P. Morgan Jr. elected to continue in commercial banking; his son formed the investment house of Morgan Stanley...
...Country Cousin. Morgan & Co. has left the elder Morgan's imperiousness far behind. It is a publicly held corporation, owned by 2,070 stockholders who saw their stock rise from $345 to $395 in the over-the-counter market when the merger news was announced (one share of Morgan for 4.4 of Morgan Guaranty). Under able Chairman Alexander, the bank has made no bones about its competitiveness, trains young men nicknamed "bird dogs" to go out and hunt for business. For the Guaranty Trust, one of the impelling reasons for the merger was to get Morgan's bright...
Alexander is not the Eastern, blue-blooded banker once associated with the idea of Morgan & Co. He was born in Murfreesboro, Tenn., son of a grain and feed merchant, went to Vanderbilt ('23) and Yale Law School. He worked on Morgan affairs as a partner of the giant Wall Street law firm of Davis Polk, so impressed J. P. Morgan Jr. that he became a Morgan partner in 1939. He became chairman in 1955, with a reputation for topflight banking and for building Morgan's staff. In line with Morgan's new look, Alexander does...