Junius Spencer Morgan (1813-1890)
Junius Spencer Morgan, Financier, Founder of J.S. Morgan & Co.
He was born at Holyoke, Massachusetts. He began his business career as a teenager in Boston. In 1834, he joined the banking concern of Morgan, Ketchum & Co., of New York, but within eighteen months quit for Hartford where he became a junior partner in the dry goods business of Howe, Mather & Co. By 1851, the firm now known as Beebe, Morgan & Co., was one of the largest in the United States. Two years later in England, he was offered partnership in the banking firm of George Peabody & Co., and when Peabody retired in 1864 the firm now known as J.S. Morgan & Co, had become recognized as one of the great banking-houses of the world. He was active in various charitable causes in Hartford and died leaving an estate of some $10 million. He was the father of five children, including "America's Greatest Banker" J.P. Morgan.
Contributed by Mark Meredith on 25/07/2019 and last updated on 29/12/2019.