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How the House of Morgan Cooperated to Develop the Large-Cap US Multinational Corporation, 1895-1913
How the House of Morgan Cooperated to Develop the Large-Cap US Multinational Corporation, 1895-1913 The Harvard community has made this article openly available. Please share how this access benefits you. Your story matters Citation Sawe, Joseph. 2015. How the House of Morgan Cooperated to Develop the Large-Cap US Multinational Corporation, 1895-1913. Master's thesis, Harvard Extension School. Citable link http://nrs.harvard.edu/urn-3:HUL.InstRepos:24078367 Terms of Use This article was downloaded from Harvard University’s DASH repository, and is made available under the terms and conditions applicable to Other Posted Material, as set forth at http:// nrs.harvard.edu/urn-3:HUL.InstRepos:dash.current.terms-of- use#LAA ! How the House of Morgan Cooperated to Develop the Large-Cap US Multinational Corporation, 1895-1913 Joseph Sawe A Thesis in the Field of International Relations for the Degree of Master of Liberal Arts in Extension Studies Harvard University November 2015 ! ! ! ! ! ! Abstract The following investigation is intended to determine how the large-cap US multinational corporation was further advanced during the pivotal years of 1895-1913 by a leading private unincorporated institution—House of Morgan. Historical review and assessment focused on the broader US society, government, monetary landscape, the House of Morgan, leading large cap US multinationals; looking at both the key organizations and underlying people in power. The report framework focuses upon the development of the US super structure within which all major companies work down to the way actual institutions organize economic assets in the form of a multinational corporation. Questions that have been considered include: how was business conducted globally with so little formal mechanisms in place, the importance of the various forms of capital for business, and the various roles politics played in business development. -
JP Morgan Chase Sofya Frantslikh Pace University
Pace University DigitalCommons@Pace Honors College Theses Pforzheimer Honors College 3-14-2005 Mergers and Acquisitions, Featured Case Study: JP Morgan Chase Sofya Frantslikh Pace University Follow this and additional works at: http://digitalcommons.pace.edu/honorscollege_theses Part of the Corporate Finance Commons Recommended Citation Frantslikh, Sofya, "Mergers and Acquisitions, Featured Case Study: JP Morgan Chase" (2005). Honors College Theses. Paper 7. http://digitalcommons.pace.edu/honorscollege_theses/7 This Article is brought to you for free and open access by the Pforzheimer Honors College at DigitalCommons@Pace. It has been accepted for inclusion in Honors College Theses by an authorized administrator of DigitalCommons@Pace. For more information, please contact [email protected]. Thesis Mergers and Acquisitions Featured Case Study: JP Morgan Chase By: Sofya Frantslikh 1 Dedicated to: My grandmother, who made it her life time calling to educate people and in this way, make their world better, and especially mine. 2 Table of Contents 1) Abstract . .p.4 2) Introduction . .p.5 3) Mergers and Acquisitions Overview . p.6 4) Case In Point: JP Morgan Chase . .p.24 5) Conclusion . .p.40 6) Appendix (graphs, stats, etc.) . .p.43 7) References . .p.71 8) Annual Reports for 2002, 2003 of JP Morgan Chase* *The annual reports can be found at http://www.shareholder.com/jpmorganchase/annual.cfm) 3 Abstract Mergers and acquisitions have become the most frequently used methods of growth for companies in the twenty first century. They present a company with a potentially larger market share and open it u p to a more diversified market. A merger is considered to be successful, if it increases the acquiring firm’s value; m ost mergers have actually been known to benefit both competition and consumers by allowing firms to operate more efficiently. -
Chase Acquiring Wepay to Fully Integrate Payments Into Software Used by Millions of Small Businesses | Business Wire
Chase acquiring WePay to fully integrate payments into software used by millions of small businesses Chase will now provide software partners developer-friendly platform integration, instant client onboarding, and access to Chase’s network of 4 million small business clients October 17, 2017 05:01 PM Eastern Daylight Time NEW YORK--(BUSINESS WIRE)--JPMorgan Chase & Co. (NYSE: JPM) announced today its plan to acquire WePay to make it easy for business app makers and independent software vendors (ISVs) to seamlessly integrate payments into the software commonly used by small businesses. Chase and WePay will ease payment friction for both software providers and merchants: Software providers will be able to provide instant onboarding to small business clients no matter how they take payments - in store, online, or on-the-go, with the backing and fraud protection of Chase. Chase and WePay will allow merchants to accept payments instantly and get paid faster so they never lose a sale Software platforms will be able to easily become payment facilitators or third party payment processors A Silicon Valley-based financial technology firm founded in 2008, WePay delivers payments-as-a-service APIs for simple onboarding and activation of payments, without impacting the user experience designed by developers. “With WePay, Chase is taking the work out of payments for both our business clients and the software providers who serve them,” said Matt Kane, CEO of Chase Merchant Services. "We are powering payments for growth, so businesses can accept payments instantly, get paid faster, and never lose a sale. And we’ll give ISVs a payment facilitator-like experience without the overhead or increased fraud risk.” Software-enabled payments are growing at four times the industry average, but embedding payment acceptance still remains a pain point for many software providers. -
Edward Sturgis of Yarmouth, Massachusetts 1613-1695
EDWARD STURGIS OF YARMOUTH, MASSACHUSETTS 1613-1695 AND HIS DESCENDANTS ROGER FAXTON STURGIS, EDITOR PRINTED FOR PRIVATE CIRCULATION AT THE $tanbope preee BOSTON, MASSACHUSETTS 1914 (PlPase paste in your copy of Book) ADDENDA AND ERRATA. EDWARD STURGIS AND HIS DESCENDANTS. RocrnR FAXTON STURGIS, Editor. p. 22 In thinl line of third paragraph strike out "name m1kn0wn" brackets and substitute "Wendall." p. 22 In reference to Samuel Sturgis (D) strike 011t all after the date 1751 the third paragraph and substitute the following: - ''Fora third wife he marrh•d Abigail Otis a11d had a s011 J (E) born Ot:tuber l':I, 17::i7 aml a daughter l,ncretia CE) l November 11, 1758 (B. '.r. R. 2-275). Administration was grar upon his estate April 25, 1762, he being described as "of llarm:ta gentleman," to .Joseph Otis (his brother-in-law) and to his wi< .Abigail (B. 1'. C. vol. 10, p. 101). His estate was insolve11t am mention is made of children." p. 22 Strike out the reference to Prince Stnrgis (DJ aml sul.JstitutP following paragraph: - " Prince Sturgis (D), the fourth son, married October 12. 1 ElizalJelh Fayerweather and died at Dorchester, Massaeh11se 1779. There was one daughter of this marriage, ElizalJeth lJaptized February 7, 1740 and married December 2fl, liGl, Art Savage. They had five children. The eldest, Faith or Fidt married lkv. Hichard Munkhouse. Tlle others dir,d unmarrirc pp. 22 & 23. Strike out the reference to f-;anrnel (E) beginning at the foo µage 22 and substitute the following: - " Samnel (E), the other so11, married Lydia Crocker, daugl of Cornelius a11d Lydia (.J enkius) Crocker, aml had one child Sn (F) born November 8, 17G0 (4 B. -
BUILDING the INFRASTRUCTURE 10520 Geisst 3P 01 R1.K.Qxd 8/13/03 4:38 PM Page 2
10520_Geisst_3p_01_r1.k.qxd 8/13/03 4:38 PM Page 1 CHAPTER 1 BUILDING THE INFRASTRUCTURE 10520_Geisst_3p_01_r1.k.qxd 8/13/03 4:38 PM Page 2 God made the world in 4004 B.C.but it was reorganized in 1901 by James J. Hill, J. Pierpont Morgan, and John D. Rockefeller. Life, 1902 he dawn of the twentieth century brought widespread pros- Tperity in the United States. The economy recovered from a severe depression in the mid-1890s and business was growing again at a rapid pace. William McKinley was president and busi- nessmen were welcome in the White House. Yet discontent with big business was more prevalent among working people and farmers, who saw themselves as mere pawns on the chessboard of business. The press and muckrakers provided a shadow conscience for the country through exposés of working conditions and corrupt labor practices. The first decade of the twentieth century was characterized by strong antitrust sentiments culminating in several significant lawsuits that altered the American corporate landscape. Ironically, the cen- tury began by opening a window of opportunity that allowed several huge mergers to occur during what otherwise has become known as the Progressive Era. Once Theodore Roosevelt succeeded McKinley, a constant tug-of-war between big business and government began. Twenty years later, it was not clear who had won the struggle. Prior to World War I, the tension between business, government, and other sectors of society did not prevent a strong drive toward 2 10520_Geisst_3p_01_r1.k.qxd 8/13/03 4:38 PM Page 3 B I mergers and acquisition. -
Partly-Printed Bond Relied on a Continued Rise in Value, 27
EARLY STOCKS AND BONDS BALTIMORE WATER COMPANY * 4 NORTH AMERICAN 1809, Maryland. Partially printed LAND COMPANY STOCK early stock certificate with the ap- NOTED SPECULATOR CERTIFICATE ISSUED HORSES FOR pearance of a check for one share. WILLIAM DUER TO JAMES GREENLEAF WASHINGTON’S ARMY Blind embossed company seal. AND SIGNED BY Some toning at edges. Overall Fine. * 6 * 2 WILLIAM DUER (1747-1799) ROBERT MORRIS 1780, PA Anderson PA1. York Founded in 1804, the Baltimore Revolutionary War soldier, finan- County, Pennsylvania bond issued Water Company operated for fifty cier, land speculator and aristo- * 1 in which Lawrence Minfore”…has years before it was purchased by the 1795, Pennsylvania. North Ameri- crat. Autograph Document Signed, furnished this State, for the use of city of Baltimore for over one mil- can Land Company stock certificate “Wm. Duer.” One page, 7 3/8” x the United States, with one dark lion dollars, resulting in the found- number 2101 for eight hundred and 6 3/4”. No place. August 11, 1785. brown Horse 5 years old, 15 hands ing of the Baltimore Water Depart- thirty-three shares issued to JAMES Duer writes to Captain Seymour: high for a waggon which has been ment. $ 300 - up GREENLEAF, who organized the “ Sir, the Bearer Captain Henry is appraised by two freeholders. Very authorized by me [to] take charge North American Land Company Fine. $500 - up along with Robert Morris and John of the Vessell [sic] bought of Nicholson in February 1795, the you on my account by Mr. Ste- month this certificate was issued. phen Sayre, the terms of which The company was formed by the I will comply with- Wm. -
1914 and 1939
APPENDIX PROFILES OF THE BRITISH MERCHANT BANKS OPERATING BETWEEN 1914 AND 1939 An attempt has been made to identify as many merchant banks as possible operating in the period from 1914 to 1939, and to provide a brief profle of the origins and main developments of each frm, includ- ing failures and amalgamations. While information has been gathered from a variety of sources, the Bankers’ Return to the Inland Revenue published in the London Gazette between 1914 and 1939 has been an excellent source. Some of these frms are well-known, whereas many have been long-forgotten. It has been important to this work that a comprehensive picture of the merchant banking sector in the period 1914–1939 has been obtained. Therefore, signifcant efforts have been made to recover as much information as possible about lost frms. This listing shows that the merchant banking sector was far from being a homogeneous group. While there were many frms that failed during this period, there were also a number of new entrants. The nature of mer- chant banking also evolved as stockbroking frms and issuing houses became known as merchant banks. The period from 1914 to the late 1930s was one of signifcant change for the sector. © The Editor(s) (if applicable) and The Author(s), 361 under exclusive licence to Springer Nature Switzerland AG 2018 B. O’Sullivan, From Crisis to Crisis, Palgrave Studies in the History of Finance, https://doi.org/10.1007/978-3-319-96698-4 362 Firm Profle T. H. Allan & Co. 1874 to 1932 A 17 Gracechurch St., East India Agent. -
F in an Cial Tech N O Lo
February 2018 Financial Technology MARKET UPDATE M&AMARLIN & ASSOCIATES INVESTMENT BANKING AND STRATEGIC ADVISORY TO THE FINANCIAL TECHNOLOGY AND INFORMATION SERVICES INDUSTRIES New York Washington, D.C. Toronto Financial Technology Financial www.MarlinLLC.com © Marlin & Associates Holdings LLC, All Right Reserved DEAR CLIENTS AND FRIENDS, One $20 Billion Deal – and Four Big-Money Fintech bets in 2018. Our February M&A Update Dear Clients and Friends, Our latest Fintech m&a report can be found below. It highlights m&a trends and transactions in the seven segments of the Fintech world that we follow and sometimes lead. Please see below for our February Fintech Market Update. Clearly, the big deal this month is Blackstone (together with Canada Pension Fund and Singapore’s GIC) buying 55% of Thomson Reuters’ financial information business (commonly referred to as “Reuters”, even though the original Newswire business is not part of the transaction.) At around US$20 billion (including debt), this is Blackstone Group’s largest deal since the financial crisis, and it’s the biggest deal EVER in Fintech. So what does it mean? We see Blackstone and its partners making four big-money bets: This is a bet on FinTech outsourcing. For 30+ years people have been predicting that financial services firms, which spend billions on internal development, would soon outsource the majority of this effort to 3rd parties such as Reuters. But it has been slow in coming. This is a bet that the FinTech world is changing – driven by increasingly complex regulatory requirements, competitive pressures, and the requirement to meet customer needs with expensive data feeds and mobile-enabled enterprise applications using secure reliable AI, Big Data Analytics, biometrics, cloud, neural networks, SaaS, social media integration and more. -
J.P. Morgan, Banker and Financier
Class: Building Maintenance Teacher: Mr Roseus Assignment 19 Please read and answer the following questions: J.P. Morgan, banker and financier John Pierpont Morgan was known as J.P. He was born April 17, 1837, in Hartford, Connecticut. He died on March 31, 1913, in Rome, Italy. Morgan was an American financier, or businessperson, and industrial organizer. He became one of the world's most famous figures during the two decades before World War I began in 1914. Morgan reorganized several major railroads and helped create many large corporations. The most famous ones include United States Steel, International Harvester and General Electric. Morgan was the son of a successful financier, Junius Spencer Morgan. J.P. Morgan was educated in Boston, Massachusetts, and at the University of Göttingen in Germany. He began his career in 1857 as an accountant with the New York banking company of Duncan, Sherman and Company. This banking company was the American representative of another banking company in London, England, called George Peabody and Company. Powerful Banking Company In 1861, Morgan began working for his father's banking company in New York City. From 1864 to 1871 he was a member of the company Dabney, Morgan and Company, and in 1871 he became a part-owner of Drexel, Morgan and Company, which soon became the primary source of U.S. government financing. This firm was reorganized as J.P. Morgan and Company in 1895, and, largely through Morgan's ability, it became one of the most powerful banking houses in the world. Because of links with the Peabody company, Morgan had highly useful connections with the London business world. -
Jpm at the Morgan Stanley U.S. Financials, Payments & Cre Conference
JPM AT THE MORGAN STANLEY U . S . FINANCIALS, PAYMENTS & CRE CONFERENCE TRANSCRIPT June 14, 2021 MANAGEMENT DISCUSSION SECTION Betsy L. Graseck Analyst, Morgan Stanley & Co. LLC Thanks, everybody, for joining me this morning. I do have to read a disclosure statement first, and then we will move on to the main attraction. For important disclosures, please see Morgan Stanley research disclosure website at www.morganstanley.com/researchdisclosures. If you have any questions, please reach out to your Morgan Stanley sales representative. With that out of the way, I'm pleased to have with us this morning, Jamie Dimon, who needs no introduction as Chairman and CEO of JPMorgan Chase. Jamie, thanks so much for sharing some time with us this morning. ...................................................................................................................................................................................................................................................... Jamie Dimon Chairman & Chief Executive Officer, JPMorgan Chase & Co. Betsy, thrilled to be here. Next time, in person. ...................................................................................................................................................................................................................................................... Betsy L. Graseck Analyst, Morgan Stanley & Co. LLC That sounds great. Your final Zoom meeting, hopefully. Okay. ..................................................................................................................................................................................................................................................... -
Interactive Qualifying Project Predicting Stock Prices
Interactive Qualifying Project Predicting Stock Prices Student: YIYI CHEN JIUCHUAN WANG Advisor: Professor HUMI MAYER Term: A,B-2017,C-2018 Student Signature: Advisor Signature: Table of Contents Chapter 1: Abstract …………………………………………………………...3 Chapter 2: Executive summary ……………………………………………...4 Chapter 3: Introduction………………………………………………………..5 Chapter 4: Background ……………………………………………………….6 Chapter 5: Research………………………………………………………....14 Chapter 6: Methodology ...……….………………………………………….21 Chapter 7: Results………………………………..…………………………...35 Chapter 8: Discussions………………………………………………………86 Chapter 9: Recommendation………………………………………………..87 Chapter 10: Conclusion……………………………………………………...88 Chapter 11: Citation…………………………………………………………..89 1 1. Abstract The purpose of this project was to develop models for the accurate prediction of future stock prices for short periods of time. To this end, we constructed four models which were able to make these predictions with a reasonable margin of error. Using our best model, we were able to make accurate predictions for 15 out of 20 stocks for 18 days or more. These models can be used by small investors as a tool for investment decisions. 2 2. Executive Summary This Interactive Qualifying Project is based on a three-term research about predicting the price of traded on stocks exchanges in short-term. This tool can greatly help the users to invest efficiently with precise prediction of the trend of the stocks. Nowadays, a lot of people holds some extra storage of money that they might want to invest into the market for higher or steadier rate of return, yet not all of them have the chance to invest in such resources. This stock price predicting tool can actually helped those people to get a better rate of return for their investments. -
2019 Investor Day Transcript
2019 INVESTOR DAY TRANSCRIPT February 26, 2019 MANAGEMENT DISCUSSION SECTION Jason R. Scott Head of Investor Relations, JPMorgan Chase & Co. Good morning. Good morning. Good morning, everyone. I'm Jason Scott, I'm the Head of Investor Relations for JPMorgan Chase. I'd like to sincerely welcome you to Investor Day 2019 and thank you for coming to join us today. I know it's early. I know you had to navigate a construction zone with sidewalk bridges and sheds and barricades to get in the door even so I know you really want to be here or somebody forced you to come, but either way we're glad you're here. And now that you are through the gauntlet and in the room, I just want to ask you to stop for a second, look around, pause, for most of you this is the last time you will ever be in this building. A lot has happened here over the decades. This company has grown to what we are today, but I think it's pretty clear, you can see outside we meant it when we said a year ago we're taking this thing down and we're moving forward with the new headquarters. That's the right thing for JPMorgan Chase going into the future. But before we get a few years ahead of ourselves here, let's start with why you're here today? You're our largest shareholders, debt holders and you're the folks that write about us and analyze us every single day.