J. P. MORGAN ELECTED HEAD OF STEEL TRUST
SUCCEEDS JUDGE GARY
A GREAT FINANCIER By Cable.—Press Association. — Copyright. Reed. 11.37 a.m. NEW YORK, Tues. Mr. J. P. Morgan has been elected to succeed the late Judge Elbert Gary as chairman of the board of directors of the United States Steel Corporation.—A. and N.Z.-Sun. Mr. John Pierpont Morgan was born in 1863, and inherited a vast fortune from his father, who died in 1913. He is head of the firm of J. P. Morgan and Co., which, founded by his father, became the leading financial house in America, and carried through enormous transactions, financing great railway and shipping schemes. One of the most successful industrial enterprises created by the Morgans was the United States Steel Corporation, with a capital of £220,000,000. Their firm restored financial stability to the United States after the panic of 1893. The new chairman of the Steel Corporation succeeded his father in the supreme direction of the firm's undertakings. In addition to controlling the Morgan business interests, he has taken a part in the public life of America. His firm acted as the American agents of the British Government during the Great War.
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Bibliographic details
Sun (Auckland), Volume I, Issue 238, 28 December 1927, Page 1
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196J. P. MORGAN ELECTED HEAD OF STEEL TRUST Sun (Auckland), Volume I, Issue 238, 28 December 1927, Page 1
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