Morgan rescues Trust Company of America
Citations (1)
- The House of Morgan - An American Banking Dynasty and the whole source · open book
During the 1907 panic, Pierpont proved that American finance could aspire to high drama. In an elaborate finale on Saturday night, November 2, he devised a rescue for the still-shaky Trust Company of America, for Lincoln Trust, and for Moore and Schley, a speculative brokerage house that was $25 million in debt.
chapter: 7. Panic