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The Morgan dollar is a United States dollar coin minted from 1878 to 1904, in 1921, and beginning again in 2021 as a collectible. It was the first standard silver dollar minted since the passage of the Coinage Act of 1873, which ended the free coining of silver and the production of the previous design, the Seated Liberty dollar.
The Panic of 1901 was the first stock market crash on the New York Stock Exchange, caused in part by struggles between E. H. Harriman, Jacob Schiff, and J. P. Morgan/James J. Hill for the financial control of the Northern Pacific Railway.
A meeting between Morgan and Shaffer (accompanied by AA secretary John Williams) resulted in an additional wage agreement. But this wage agreement, which covered only the existing unionized plants, was rejected by the AA executive board. [6] At a meeting on August 3, 1901, Morgan refused to renegotiate the wage agreement.
Carnegie Steel Company was sold in 1901 to U.S. Steel, a newly formed organization set up by J. P. Morgan. [10] It sold at roughly $492 million [11] ($18 billion+ today), of which $226 million ($8.3 billion+ today) went to Carnegie himself. [12] U.S. Steel was a conglomerate with subsidiary companies.
Morgan signed a contract with Tesla in March 1901, agreeing to give the inventor $150,000 ($5.49 million in 2023) to develop and build a wireless station [16] on Long Island, capable of sending wireless messages to London as well as ships at sea. The deal also included Morgan having a 51% interest in the company as well as a 51% share in ...
In 1901, he helped negotiate the secret sale of Carnegie Steel to a group of New York City–based financiers, led by J. P. Morgan. [6] After the buyout, Schwab became the first president of the United States Steel Corporation , the company formed out of Carnegie's former holdings.
In 1901, James Jerome Hill, president of and the largest stockholder in the Great Northern Railway, won the financial support of J. P. Morgan and attempted to take over the Chicago, Burlington and Quincy Railroad (CB&Q). [1] The CB&Q served a traffic-rich region of the Midwest and Great Plains, was well-managed, and quite profitable.
The name of one of them was revealed in April 1901: the Leyland Line. [9] The second turned out to be the prestigious White Star Line, bought by Morgan's team, after long negotiations, in April 1902. [10] [11] [12] On 1 October 1902, JP Morgan & Co. announced the founding of the International Mercantile Marine Company, more commonly called IMM.