In 1865, J.P. Morgan was married to a lady by the name of Frances Tracy, daughter of Charles Tracy, a well-known lawyer of the time. Out of this marriage came four children who all ended up being in the high ranks of society, following in their family’s footsteps. Of the four, only one was a boy who was named after his father. When his father passed away, Jack took over a large portion of his father’s businesses, but was said never to have the same business skills that characterized his father. J.P. Morgan’s son could not quite live up to him, and neither could most businessmen.

Another profitable investment that further exemplifies J.P. Morgan’s management principles was in the railroad industry. His goal was to make sure that his investments with railroad companies were being handled correctly. When Morgan made the decision to enter the railroad business he jumped in with both feet, as he often did, and as usual began making money through his shrewd investment skills. Morgan took control of the Albany and Susquehanna railroads, going against two of the most notorious railroad tycoons of the time, Jay Gould and Diamond Jim Fisk. As Morgan entered deeper into the business, he learned that his investment banking skills could also be used in the railroad business, for he ended up marketing many large accounts, and helped keep many companies afloat. That was one aspect of business that Morgan took great pride in, for he was able to single handedly refinance companies, keeping them in business and making him money at the same time.

At this point, J.P. Morgan was now well known as a man that would go to any cost to make money. This attitude deterred some customers, who had very high moral values, but brought many more in who also wanted to be in the “high society.” However, it is important to note that J.P. Morgan never took advantage of people, he took advantage of situations that other people did not. He made money when he could, and lost money too. However, by now, his financial situation was such that he was never really hurt by these losses.

J.P. Morgan did not keep his wealth to himself; he made contributions to many charities including the Y.M.C.A., and many local church organizations. Morgan became the president of the Metropolitan Museum of Art. In addition, Morgan traveled the world during his retirement collecting magnificent works of art that were to be added to his personal collection as well as to the many museums that he contributed to. Morgan also led the vestry at St. Georges Church, and through this church he set up a community center, housing for social workers, an industrial school, a summer camp, and a seaside resort for working women and children. J.P. Morgan also maintained the church by his summer home, where he funded the building of a new cathedral and attended every tri-annual convention of this church until his death on March 31st, 1913.

The first actual business transaction that he ever made on his own was one that like many others later in his life, caused a great deal of controversy with his fellow workers. However, in the end everyone was satisfied for they left the transaction with the

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