f the largest and most successful companies on Wall Street. The firm also became the predominant force in US government funding. When Junius Morgan died in 1890, J.P. became head of the London house. Pierpont now was able to control all the dealing between the New York based firm and their oversees partner. Anthony Drexel also died in 1893, and Morgan reorganized the Morgan and Drexel firms two years later. The New York based Drexel Morgan became J. P Morgan & Co. Drexel, Harjes & Company was Drexel's prominent Paris-based invest banking business. Morgan's new French connection was renamed Morgan, Harjes & Co. Pierpont was now at the head of houses in New York, Philadelphia, London and Paris. He was the commanding figure in international finance. Pierpont Morgan was an imposing figure on Wall Street and in the financing world but was virtually unknown to many until 1869. That year a war over railroads began including Jay Gould and Jim Fisk, both famous financiers. Gould already had dominant control over the Erie railroad and began to buy up stock in the Albany & Susquehanna Railroad. The board of the railroad was prevented from issuing new stock to protect itself and the president of the company, Joseph Ramsey, was suspended. A judge appointed Jim Fisk as temporary controller of the company until the ownership argument was settled. Ramsey and the board of the company fought Gould buy acquiring more shares of the company. Both sides had judges that placed injunctions on the opposing sides of the war. Mr. Ramsey soon found himself with not enough money to keep up his contention for the 142 miles of track. The board of directors and Ramsey asked Morgan for his financial support. Morgan deposed the Erie railroad directors and was more than happy to assist the Ramsey plea. Through legal feuds with Boss Tweed and other characters and holding covert stockholder meetings, Morgan was able to obtain a lease over the company. The state supreme cou...
