Salt Lake Tribune | 1904-07-03 | Page 3 | Pierpont Morgan Saves Cool $1000

Pierpont Morgan Sayesbol Jfli Plays Clever Little Trick on Joweler, by Which He Clears That Trifling Sum. NEW YORK. July 2.-J. Pierpont Morgan Mor-gan has a now scarf pin. It Is a pearl. Through a schemo of high financing Mr. Morgan saved J1M0 in purchasing It. Tho story of that purchase is being told on Wall street today with as much enthusiasm as If tho nrtlclo that figured In tho deal had been a whole railroad rail-road system. Tho pearl was sent to Mr. Morgan by a Jewelry firm which bad Just obtalned.it. With it was inclosed a note stating that Lo might hnve It for 15000. Just at this otago of tho affair high finance began 6howJng its hand. Mr. Morgan liked tho pearl lmuiunsely, but ho hesitated about paying J3000. So he had one of hLs clerks make out two checks one for SIQQO and tho other for $5000. Tho J5000 check was wrapped up with tho pearl. Tho other check was Inclosed ln a r.oto which stated that If tho Jeweler did not caro to accept flOOO ho could roturn tho chock. No mention was made of thc J5W0 check, and the owner of tho pearl did not wait to open the pnekage and inspect his prlzo. Instead he Hent It back lo Avail street. A couplo of days lator Mr, Morgan mot the Jeweler. "Wo loot money by that transaction," complained the latter. Then Mr. Morgan told him about tho $1000 check. "I can understand now." said tho dealer deal-er In goma. "how you havo earned your placo as tho leading llnanclor of the world." Mr. Morgan has lnvosted tho 31000 which he saved lna trip to JEuropo. ,