16036. J.p. Morgan & Company (New York, NY)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
private
Start Date
March 31, 1913
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini
Short Digest
55de731a

Response Measures

None

Description

The firm closed its offices for several days on receipt of J. P. Morgan's death (no evidence of a depositor run or panic). The suspension lasted about three days and the firm reopened on April 3, 1913.

Events (2)

1. March 31, 1913 Suspension
Cause Details
Firm closed its offices upon receipt/announcement of J. P. Morgan's death in Rome.
Newspaper Excerpt
a bulletin announcing the death of the American financier was posted... Immediately the big doors leading into the main office were swung shut and announcement was made that no further business would be transacted until further notice.
Source
newspapers
2. April 3, 1913 Reopening
Newspaper Excerpt
J. P. MORGAN FIRM REOPENS. Banking House Resumes Business After Three-Day Suspension. ... J. P. Morgan & Co. opened for business today for the first time since the former head of the banking house died last Monday in Rome.
Source
newspapers

Newspaper Articles (13)

Article from The Daily Gate City, March 31, 1913

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Article Text

IN FRONT OF MORGAN'S BANK Announcement of His Death Was Made by Pasting a Slip of Paper Over the Glass Door. THERE WAS NO PANIC Carefully Lald Plans Prevented Any Revolution of the Stock Exchange as Result of Death. [United Press Leased Wire Service.] NEW YORK, March 31.-Morning papers' stories predicting the death of J. P. Morgan, attracted a large crowd to the sidewalks before the dingy old bank building at the corner of Broad and Wall streets. Tt was a quiet crowd which evinced little excitement and the only effect noticeable when 1 shortly after y o'clock a bulletin an S nouncing the death of the American financier was posted, was a momen o tary hush. It was the consensus of opinion of t a number of the market leaders who g mingled with the crowd that the anla nouncement would have no serious effect on the market, owing to the lo careful plans that have been under way for several weeks to meet just such a contingency. That the dead Is nancier was regarded as the ruler of vn the American kingdom of finance was probably best indicated by the m fact that thought the crowd gathered w about the Morgan offices an hour and the usual ac o in the street, some a tivities half before it included opening of o of the best known leaders in the S street. to It was shown slightly after nine o'clock, when a messenger stepped to y the main entrance of the banking a, house and posted on the glass door of of on was e simple a the sheet following paper which announcement: written at "J. P. Morgan died in Rome s' 12:05 p. m." Id W Immediately the big doors leading into the main office were swung shut o and announcement was made that no W further business would be transacted ts until further notice. J. P. Morgan, Jr. a had not yet arrived and the only memly ber of the firm present when the any nouncement was received from Rome, was Henry P. Davison. nAt 9:45 a clerk from the Morgan y office came out with a second notice S. and after tearing down the first, post is ed the following: "Closed-on account of the death of at J. P. Morgan, which occurred Rome this morning." ry As soon as the Wall street tickers ay announced Morgan's death, flags were 1half-masted on all the brokerage and rs banking houses throughout the street. h Announcement was made shortly rd before ten o'clock that the stock ex is change would not be closed on ac ccount of Morgan's death d That was early evidence that the le careful preparations which had not only been made by the street itself, but by Morgan personally, to prevent any disturbance at his death would H. fruit. There has been evidence m- time that the the coldly al for bear himself, some practical elder Morgan trafts had dictating his action to the last, to been putting his house in order with n. a view to having his own death affect ed his business the least possible extent. to Not only had the elder Morgan sur isrounded himself with able and con ds servative partners. but he had devot eir ed the major portion of his own time to grooming his son, J. P. Morgan, Jr fl ut for the task of wielding his own he nancial sceptre. ry Henry Clews, one of the first of the well known figures of the street to ar I the scene, was the door of the Pujo the 31. lay rive ing at committee at responsibility the investigat first for to he the financier's death. In a statemen its to the newspaper men, he said en"In my opinion the thing that dió ar most to make inroads into Mr. Mor gh gan's health, was the recent attach ee made upon the great combinations o is his creation-exploits which he per re sonally considered the greatest of his achievements. These attacks really / had saddened his life and preyed pu on his mind. Hence his death.' H At 10:15 following a conferenc sh between Thomas Lamont, W. H. Port


Article from The Richmond Palladium and Sun-Telegram, March 31, 1913

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Article Text

STOCK MARKET QUIET NEW YORK, March 31.President Matson of the New York stock exchange announced today that the stock exchange would not be closed on account of Mr. Morgan's death. The Morgan stocks fell two points, but soon recovered the loss. A notice was posted at the offices of J. P. Morgan & Company this forenoon as follows: "Closed on account of the death of Mr. J. Pierpont Morgan which occurred at Rome, Italy, at noon today." Large crowds had gathered about the Morgan banking house in Wall street. All kinds of rumors were in the air. At 8 o'clock a French cable company messenger was seen running to the home of J. P. Morgan, Jr., in Madison avenue. At 8:45 a telephone bell rang in the office of Morgan & company and one of the clerks took down a message. A moment later a notice written with a pen was posted up at the banking house. As the partners of the banking firm reached the offices the shades were drawn and it was evident that a conference was in progress. The death of the world's greatest financier evidently had not been expected for, while the partners were in consultation, men began to arrive from various companies bearing boxes of stocks and securities for the day's business. After it was announced that the firm would not open for business today the American flag on the building was lowered to half-mast.


Article from Atlanta Georgian, March 31, 1913

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Article Text

MORGAN, JR., RUNS TO TELL HIS MOTHER THE SAD NEWS Breathless, He Dashes From Home When Message Arrives---Big Bank Closes for Day. NEW YORK, March 31.-National interest, probably such as would not have been aroused by the demise of any other American in private life, to-day attended the receipt of news from Rome that J.P. Morgan, the great financier, died there five minutes after noon. Mr. Morgan's name has so long been associated with vast wealth, all the power that wealth buys and the upbuilding of American industry, that he had come to be known far and wide as the most powerful agency in the financial world.


Article from Evening Star, April 3, 1913

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Article Text

J. P. MORGAN FIRM REOPENS. Banking House Resumes Business After Three-Day Suspension. NEW YORK, April 3.-J. P. Morgan & Co. opened for business today for the first time since the former head of the banking house died last Monday in Rome. The notice of Mr. Morgan's death was taken from the front door and the offices gave no indication of the event that had caused a suspension of the firm's far-reaching activities for the past three days.


Article from Santa Fe New Mexican, April 3, 1913

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Article Text

BODY ENROUTE VIA FRONTIER TO SEAPORT Brug. Switzerland. April - -The funeral train conveying the body of the late J. P. Morgan to America, cross the Italian-Swiss frontier this morning and proceeded direct through the Simplon tunnel on the way to Dijon, France. New York. April 3.--.T. P. Morgan and company opened for business today for the first time since the former head of the banking house died last Monday in Rome. The notice of Mr. Morgan's death was taken from the front door and the offices gave no indication of the event that has caused a suspension of the firm's far reachirg activities for the past three days.


Article from Evening Times-Republican, April 3, 1913

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Article Text

MORGAN OFFICES OPENED. Business Resumed After Suspension Owing to Financier's Death. New York, April 3.-J. P. Morgan & Co. opened for business today for the first time since the former head of the banking house died last Monday in Rome. The notice of Mr. Morgan's death was taken from the front door and the office gave no indication of the event that had caused a suspension of the firm's far reaching activities for the pas three days.


Article from The Evening World, April 3, 1913

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Article Text

MORGAN BANKING HOUSE REOPENS ITS DOORS. All the Members Except Son of Dead Financier Attend Regular Conference. The banking house of J. P. Morgan & Co., No. 3 Broad street, which was closed on Monday, was to-day reopened. The notice posted on the doors, stating that business had been suspended on account of the death of Mr. Morgan, was removed and the shades behind the windows, which were half-drawn, were raised. For the first time since the death of Mr. Morgan, the members of the firm,


Article from The Daily Missoulian, April 4, 1913

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Article Text

MORGAN OFFICE RE-OPENS. New York, April 3.-J.P.Morgan & Co. opened for business today for the first time since the former head of the banking house died last Monday in Rome. The notice of Mr. Morgan's death was taken from the front door and the offices gave no indication of the event that caused a suspension of the firm's far-reaching activities for the past three days.


Article from The Times Dispatch, April 4, 1913

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Article Text

Open for Business. New York, April 3.-J. P. Morgan & Co., opened for business to-day for the first time since the former head of the banking house died last Monday in Rome. The notice of Mr. Morgan's death was taken from the front door, and the offices gave no indication of the event that had caused a suspension of the firm's far-reaching activities for the past three days. The New York Chamber of Commerce, of which Mr. Morgan was for fifty years a member and for four terms its vice-president, held a memorial meeting to-day in his honor. The chamber adopted a resolution placing on its records sentiments of deep reverence for the memory of John Plerpont Morgan, man of character" and "its enduring appreciation of the dominent force for good which he wielded through a long life of masterful endeavors and far-reaching accomplishment." Eulogistic addresses were delivered by John Claflin, president of the chamber; Senator Elihu Root, Joseph H. Choate, Robert W. De Forest, Seth Low and Frank A. Vanderlip. Every seat in the great meeting room of the chamber was taken and many were compelled to stand. Every important financial institution in this city, as well a8 every mercantile house, was represented.


Article from The Pensacola Journal, April 4, 1913

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J. P. MORGAN & CO. OPEN FOR BUSINESS New York, April 3.-J. P. Morgan & Co., opened for business today for the first time since the former head of the banking house died last Monday in Rome. The notice of Mr. Morgan's death was taken from the front door and the offices gave no indication of the event that had caused a suspension of the firm's far-reaching activities for the past three days.


Article from Americus Times-Recorder, April 4, 1913

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OFFICE OF MORGAN & CO. AGAIN OPEN FOR BUSINESS Notice of Financier's Death Taken Down New York, March 3.-J. P. Morgan & Co. opened for business today for the first time since the former head of the banking house died last Monday in Rome. The notice of Mr. Morgan's death was torn from the front door and the office gave no indication of the event that had caused a suspension of the firm's far-reaching activities for the past three days.


Article from The Madison Daily Leader, April 4, 1913

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Article Text

Morgan's Offices Reopened. New York, April 4.-J. P. Morgan & Co. opened for business for the first time since the former head of the banking house died last Monday in Rome. The notice of Mr. Morgan's death was taken from the front door and the offices gave no indication of the event at had caused a suspension of the firm's farreaching activities for the past four days.


Article from The Salt Lake Tribune, April 4, 1913

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FEELING TRIBUTE OF SENATOR ROOT NEW YORK, April 3.-J. P. Morgan & Co. opened for business today for the first time since the former head of the banking house died last Monday in Rome. The notice of Mr. Morgan's death was taken from the front door and the offices gave no indication of the event that had caused a suspension of the firm's