Part 1 Chapter 3 Prince Summary and Analysis

The Morgans are active in helping to finance this period of railroad development in America. Pierpont and Fanny make a transcontinental journey on the railroad in 1869 when it is completed. Pierpont proves himself in the battle with Jay Gould over a little 143 mile railroad between Albany and Susquehanna in upstate New York. He merges the railroad with the Delaware and Hudson line and becomes a director of the merged line. Pierpont and Fanny have four children, Louisa, born in 1866, John Pierpont Jr. or Jack, born in 1867, Juliet born in 1870 and Anne, born in 1873.

Pierpont Morgan is not a self-made business man. His business life is arranged by his father, Junius, a fact that he acknowledges. When Pierpont's partner, Dabney, retires in 1871, Junius arranges a partnership with Drexel, the Philadelphia and Paris banking company. Pierpont becomes the manager...