. The men of New York: a collection of biographies and portraits of citizens of the Empire state prominent in business, professional, social, and political life during the last decade of the nineteenth century .. . the firm was estab-lished in New York city in 1852, and Mr. Mortonwas detailed as resident manager. By the year1854 the future vice president had acquired a thor-ough mastery of principles in general, andof the particular customs of the dry-goods trade, andhe resolved to make the most of himself by estab-lishing a business of his own. Becoming seniorpartner, accordingly, i
. The men of New York: a collection of biographies and portraits of citizens of the Empire state prominent in business, professional, social, and political life during the last decade of the nineteenth century .. . the firm was estab-lished in New York city in 1852, and Mr. Mortonwas detailed as resident manager. By the year1854 the future vice president had acquired a thor-ough mastery of principles in general, andof the particular customs of the dry-goods trade, andhe resolved to make the most of himself by estab-lishing a business of his own. Becoming seniorpartner, accordingly, in the firm of Morton & , he carried on a successful dry-goods commis-sion business until 1861. In the trying times at-tending the outburst of civil war the firm of Morton& Cirinnell went under, compounding with theircreditors for fifty cents on the dollar. The failurewas largely due to the repudiation of southern paper. Mr. Morton afterward discharged the obli-gations in full, with interest. Feeling his reverses keenly, and eager to redeemhimself, Mr. Morton established in 1863 the bank-ing house of L. P. Morton & Co. His long experi-ence in commercial affairs, acquaintance with busi-. P. MORTOX ness men, and personal character, brought(|uick success in the new venture. His business hadassumed such proportions by 1869 that he deemedit prudent and otherwise desirable to have partner-ship assistance ; and Ceorge T. Bliss, alreadyeminent in the commercial world, formed with himthe famous house of Morton, Bliss & Co. The sameyear Sir John Rose, Canadian minister of finance,joined Mr. Morton in founding the London bankinghouse of Morton, Rose & Co. These two firms,splendidly equipped with capital, experience, re-sponsibility, and character, rapidly gained a fore-most place among the banking houses of the services performed by them in facilitating theresumption of specie payments and the funding of 28 .UK.\ OF XEir )CKK — MAXHAr/AX SKCT/OX the n
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Keywords: ., bookcentury1800, bookdecade1890, bookidmenofnewyork, bookyear1898
