Saturday, March 25, 2006

JPMorgan Chase & Co

JPMorgan Chase & Co. - Wikipedia, the free encyclopedia

JPMorgan Chase & Co. NYSE: JPM TYO: 8634 , a financial holding company incorporated under Delaware law in 1968, and headquartered in New York City, is a leading global financial services firm and one of the largest banking institutions in the United States, with $1.2 trillion in assets, $106 billion in stockholders’ equity and operations in more than 50 countries. Formed in 2000 with the merger of the Chase Manhattan Corporation and J.P. Morgan & Co..

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In 1895, Drexel, Morgan & Co. became J.P. Morgan & Co. (see also: John Pierpont Morgan). It financed the formation of the United States Steel Corporation, which took over the business of Andrew Carnegie and others and was the world's first billion-dollar corporation. In 1895 it supplied the United States government with $62 million in gold to float a bond issue and restore the treasury surplus of $100 million.

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In August 1914, Henry P. Davison, a Morgan partner, traveled to England and made a deal with the Bank of England to make J. P. Morgan & Co. the monopoly underwriter of war bonds for England and France. The Bank of England became a "fiscal agent" of J. P. Morgan & Co. and vice versa. The company also invested in the suppliers of war equipment to England and France. Thus, the company profited from the financing and buying activities of the two European governments.

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