Drexel, Morgan and Co. is reorganized by…
1896 CE
Drexel, Morgan and Co. is reorganized by J. P. Morgan after Anthony J. Drexel's death in 1895 and becomes J.P. Morgan and Company.
It finances the formation of the United States Steel Corporation, which takes over the business of Andrew Carnegie and others and is the world's first billion-dollar corporation.
In 1895, it supplies the United States government with sixty-two million dollars in gold to float a bond issue and restore the treasury surplus of one hundred million.
Morgan markets U.S. government securities on a massive scale.
People
Groups
Commodities
Regions
Northern North America
View →Subregions
