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pause. Stafford looks at the door through Stafford-You asked for a promise. I which Jimmie went and his face shows that he gave it and I now repeat it, so that is settled, now fully realizes the situation) If you isn't it? hadn't come, I should have had to come to Virginia-Yes. you! I should have had to! And that StaffordYou said you wouldn't send for would have robbed me of everything I've me, and you haven't. Have you?

, been fighting for. It would have stripped Virginia-No. me of my self-respect, it would have made Stafford-Then don't you see, dear, all me despise myself. I should never have been along the line you won the victory? able to hold up my head to myself again! Jim-It's more than a victory! It's a But now I shall; now I shall know that I landslide! didn't have to do what I knew to be wrong, Virginia-Victory! When you came, you and it makes me so happy, dear! So happy! thought it was yours. You thought I had So very, very happy! (Virginia, sobbing, sent for



found I hadn't, kneels beside Stafford and covers her face with why didn't you tell me?

? her hands. There is a pause)

Stafford-Because I knew you were in the Stafford-Of course I came for you! If I right. Because I realized for the first time had known all that it meant to you, I should all it meant to you.

Because I loved you have come long ago.

and wanted you. Why, even had I been Virginia-Then you did miss me? right instead of you, I would have done the

StaffordI didn't imagine that any hu-· same. I simply couldn't have helped it man being could miss another so much! after having held



my arms again. And though I knew I loved you deeply, I Jim-(To Fanny) Get that arms thing? didn't think it possible that I could ever I guess I'm bad, eh? love any one as I soon realized that I loved Virginia--You thought the victory was you.

yours, but when you found me claiming it

and realized what it meant to me, you gave Fanny and Jim enter and find them in it to me without a word. That was a big a warm embrace, and Fanny innocently thing, too. exclaims that one of Jim's ideas has turned Stafford-What does anything matter but out right, anyway.

this: I love you, you love me, and we Jim-Shut up!

are together again. That's everything, Fanny-Didn't she know? (Jimmie pan- isn't it? tomimes his disgust)

Virginia-Yes, dear. That's everything. Virginia-Know what?

StaffordThen come along, dear. Have Fanny—Why-why

you any rubbers? Virginia--What don't I know? What is Fanny-Jimmie! it? (There is a pause) Robert, tell me. Jim-Sure! (Jimmie goes out)


Stafford-You fix this. (He gives Fanny Stafford-Well, dear--now please, please the veil

, etc., for Virginia's head and she addon't be worried about it-when I came I justs them. Jimmie reënters with rubbers thought you had sent for me.

and starts to put them on Virginia) Virginia-Thought I had--why should Stafford-Now for the coat. (Stafford you think it?

takes the coat) By the way, I've something Stafford-That was the message I got else for you. It's from Tiffany's. over the 'phone.

Virginia Oh, Robert, didn't I tell you Virginia-From whom?

that --! Stafford-I'd rather not tell you.

Staford-Wait! Wait! You don't know Virginia-You thought I had sent for what it is. (He takes the wedding-ring you! Then everything is wrong! Every- from his pocket and holds it up. Virginia thing!

holds out her hand and he puts the ring on her Stafford-No, dear, everything is right. finger, then he puts the big fur coat about her. You were fighting for a principle. Have Speaking over her shoulder as she looks back you surrendered it? Have you?

at him) And now, dear, let's go home! Virginia-No.


Tell me.

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In the following review, written especially for THE WORLD TO-DAY, Mr. Hovey has
brought out the salient points in his life story of the great money-master, including
Mr. Morgan's fights with the Gould and other big financial interests; his famous par-
ticipation in the financial crisis of the national Government during Cleveland's second
administration, and the part he is playing to-day in the money game of the world

was never anything resembling

HERE is a thoughtless saying, house in which he was born still stands. It which is only partly true, that was a small and unpretentious building of Mr. Morgan is not a self-made red brick which stood on the village street man. With him, indeed, there in the center of a few acres of land. Some

years ago it was raised one story and a store the famous Rockefeller account book-nine was set in under it, and now it is being closedollars and eighty cents this month received, ly crowded by business blocks in what is five-sixty expended "for necessities," - the center of Hartford. J. P. Morgan's balance, four-twenty toward the distant associations are not with this house, howPalace of Ambition-written out in a ever, for his parents lived here only during cramped, clear, boyish hand. From the the first year or two of his life. Then they first, he stood at a certain height above the moved to the large and comfortable house crowd, and began life in New York easily, on Farmington Avenue which Joseph Morpossessing all the advantages and claims of gan, J. P. Morgan's grandfather, had had a successful banker's idolized son.

built as a wedding present for his son. But, although the name and business con- After the family moved to Boston, he nections of Junius Morgan furnished him attended the English High School until his with a substantial pedestal, Pierpont Mor- graduation in 1853. The next year he spent gan has made it a mountain. By virtue at Fayal in the Azores, after which he conof all that separates his commonplace, if tinued his education abroad, spending a comfortable, inherited position from his year at Vevay, Switzerland, and two years Cyclopean influence and authority to-day, at the University of Göttingen in Germany. Mr. Morgan is “self-made." His growth He left Göttingen to enter his father's bankwas slow; it occupied all of fifty years, ing house in London. counting from the year he began as a In the year 1857, the young man was sent banker's clerk in '57. He subordinated to New York as his father's representative himself, first to his father, and afterward with the firm of Duncan, Sherman & Co., to the Drexels, and he was middle-aged and there he met Mr. Dabney, with whom before he became quite his own master he afterward went into partnership. In and was utterly free.

the summer of 1859, Mr. Morgan sailed for Young J. P. Morgan spent the first four- Paris to see the lady who was soon to beteen years of his life in Hartford. The come his wife. She wa Miss Amelia Sturges, the daughter of Jonathan Sturges of and Morgan were shooting at each other New York. Miss Sturges was an invalid; with injunctions; twenty-two suits were bein reality, she was dying of consumption. gun in connection with this fight. Finding Mr. Morgan persuaded her

that Gould could best him in the to marry him, declaring that

use of such weapons and he would take her the world

was continually aided over to find her health. He

by the so-called Erie dropped business entirely

judges at his back, after his marriage and de

Morgan made an adroit voted himself to the dying

move which threw the woman. She lived only a

case into the hands of few months after

Governor Hoffman, of their wedding

the State of New York, He returned to

and drew his opponents New York and

before judges who plunged into his work

took the up-State again. He lived quietly,

view of the atbeginning the day with

tempted seizure: a horseback ride in Cen

The Governor tral Park and often

had already threatened to spending the evening at

run the road with the the house of one of his

soldiers if the two parties friends. His interest

did not end their differin pictures, always

ences. Morgan trapped strong, occupied

Gould and Fisk into sendhim much at this

ing a written note to the time. He married

Governor, stating that it was again in the year

impossible for the contending 1865, and his second

parties to agree, that the railwife, the present Mrs.

road could not be run as Morgan, was Miss

matters stood, and reFrances Louise Tracy, daugh

questing the State to apter of Charles Tracy, a lawyer

point an official to take of New York. In his business,

charge in the interest of Mr. Morgan was

public peace. The Govoccupied exclu- J. Pierpont Morgan,

ernor made the appointsively with the

the greatest financial
power in America to-day

ment, and during the calm work of a private

that followed, Morgan obbanker and dealer in exchange. But when

tained from the stockholders the railway mania struck the country in '69,

the power to lease the property, Morgan was drawn into a sensational fight

did so, and placed the A. & S. for the control of the Albany & Susque

forever out of the reach of Gould hanna. It was the first big fight of his life, and Fisk. and involved a direct challenge to battle Three years later, Mr. Morgan was apwith Jay Gould and “Admiral” Jim Fisk, proached by the Drexels, of Philadelphia, a alias the “Prince of Erie,” two of the ablest very rich and prosperous banking family, and least scrupulous men who had come to

and asked to enter the New York branch Wall Street bent on reckless manipulation. of that house as a member of the firm.

When Morgan beat them at the stock- The connection insured him a position of holders' meeting, Gould and Fisk sought to influence and power beyond anything he gain physical possession of the track and had yet reached. Consequently, the firm of engines. From this time the thinly settled Dabney, Morgan & Co. was dissolved, and, country through which the A. & S. ran was in 1871, Drexel, Morgan & Co. began busiin a state of war. The metropolitan dailies ness. A plot of ground was bought at the sent their correspondents and the whole corner of Broad and Wall streets, and a State looked on in wonder. While Fisk and white marble building was erected at a cost Ramsey were fighting in the field, Gould of $1,000,000—the same solid structure which, no longer very white, but turned a dull gray-brown, and dwarfed by the surrounding high buildings, is the headquarters of the Morgan enterprises to-day.


The railroad rate wars of the eighties and nineties made a terrible inroad on the value of stocks, and although Morgan was not a railroad man but a banker,


perhaps getting no interest at all. In
the case of the Reading, his most
difficult piece of work of this kind,
the bondholders appealed directly
to Mr. Morgan to undertake the
job, after several attempts had
failed. When he had finished the
work Mr. Morgan kept the control
of the road in his own hands. He
took no chances of permitting an
enterprise which required careful
treatment to fall into the hands of
any wildcat management, and the
security holders were at one with
him on that. Unable or unwilling
to look after their own interests,
they were only too glad to have Mr.
Morgan do it for them. And after
his experience Mr. Morgan invariably
retained control of the railroads he re-
organized, either through the special
device of a voting trust, or a control-
ling ownership of stock. In this way,
and at this time, the feudal position
which he now OCCU-

Mr. Vorgan in conferpies, the one-man ence with Sir Caspar power in American

Purdon Clarke, late di

rector of the Metropolifinance which he

tan Museum of Art, is, had its beginning.

New York City But it was Morgan's famous contract to furnish the U. S. Government with gold in 1895 which first made his name familiar to every one the country over.

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