United States Steel: A Corporation with a SoulCotter, Arundel
History
United States Steel: A Corporation with a Soul
Cotter, Arundel
United States Steel Corporation
Morgan himself regarded the amalgamation of many of the country’s
leading steel concerns into United States Steel as the crowning
achievement of his career. He took a personal pride in his connection
with the Corporation’s organization--and who shall say it was not a
worthy pride? He lived to see it firmly established and exerting an
influence for good on the steel trade and on industry generally; to
see it gain the confidence of the public as evidenced by the growth
that was, even before his death, taking place in the number of its
stockholders, many of whom held only a share or two and regarded them
almost as gold bonds; to see it earn the good will of its competitors
and the loyalty of its--at the time--two hundred thousand odd employees.
But unfortunately he also lived to see it attacked by the Government.
No doubt this was a sore grief to the great financier. And its
vindication did not come until several years after his death.
To those who knew him by sight only Morgan appeared a solitary, stern
figure, perhaps a little too much inclined toward impressing his own
will on others. Those who enjoyed intimacy with him declare that under
his cold exterior beat a heart as tender as a woman’s, that he took the
keenest interest in all things human and that, while never figuring
publicly as a philanthropist, the list of his private benefactions was
enormous.
Newspaper men, who perforce had often to seek an interview with the
great banker, found him rather unapproachable. But when he consented
to talk his statements could be relied on absolutely. And he was not
without a subtle sense of humor. On one occasion a financial writer who
had been assigned to get Morgan to talk by hook or by crook invaded
his private yacht and was only saved from being ejected by the banker
himself who invited his visitor to the saloon and treated him like an
honored guest.
He discussed in the fullest detail the subject on which the writer
wished to interview him but--at the end, when his self-invited guest
was taking his leave, Morgan said with a shadow of a smile:
“Of course, you understand all I have told you is in confidence. You
have been my guest and I rely on you not to violate that confidence.”
Needless to say the interview was never printed. The scribe reported
to his office that the banker refused to be interviewed.
When Morgan died the leading business men of the country united in
testifying to his ability and character. Judge Gary, who had been
closely associated with him for years, said:
“As a constructive force in financial matters he had no equal. With
keenest perception, with indomitable courage, and with unbounded
confidence in the future he was a natural leader and as such was called
upon in times of financial stress to lend his influence to avert a
threatened storm or to overcome an existing difficulty. And he never
failed. His character was such that the greatest men of this country
and of other countries trusted him and followed his lead.”
Public-domain text, read in full here on John Shaqi.
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