Morgan, Harjes & Co.
Morgan, Harjes & Co. (originally Drexel, Harjes & Co.) was a Paris-based investment bank founded in 1868 by John H. Harjes, Eugene Winthrop and Anthony J. Drexel as Drexel, Harjes & Co. In 1871, with the formation of Drexel, Morgan & Co., together with J. Pierpont Morgan, the company became the French affiliate of an international banking firm with offices in London, Philadelphia, New York City and Paris that would subsequently become J.P. Morgan & Co.
Drexel, Harjes & Co. (1868-1895)
Just three years after its formation, Drexel Harjes played a significant role in the aftermath of the Franco-Prussian War. Following the war, the firm was a major lender to the new French government as it repaid its massive war reparations.
Drexel Harjes supervised the transfer of the $50 million, which the United States paid to France to acquire its interests in the Panama Canal allowing the United States to begin work on the canal in 1904.
Morgan, Harjes & Co. (1895-1926)
Again in World War I, Morgan Harjes was actively involved, helping the Allied nations secure loans in order to purchase military supplies from manufacturers in the United States. Although critically important to the war effort, in the years following the war, Morgan Harjes was subjected to criticism for what were considered to be highly profitable war loans.
Morgan & Cie. (1926-1975)
In 1967, Morgan Guaranty Trust (formerly J.P. Morgan & Co.), sold two-thirds of its ownership in Morgan & Cie Incorporated to Morgan Stanley to form Morgan et Compagnie International, which would serve as the foundation for Morgan Stanley's international operations. Interestingly, the joint venture between the two wings of the House of Morgan (J.P. Morgan & Co. and Morgan Stanley) was one of the few survivors of the Glass–Steagall Act.
- Carosso, Vincent P. The Morgans: Private International Bankers, 1854-1913. Harvard U. Press, 1987. 888 pp. ISBN 978-0-674-58729-8
- Chernow, Ron. The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance, (2001) ISBN 0-8021-3829-2
- Morris, Charles R. The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy (2005) ISBN 978-0-8050-8134-3
- Strouse, Jean. Morgan: American Financier. Random House, 1999. 796 pp. ISBN 978-0-679-46275-0