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Story
July 2, 1888
Daily Independent
Elko, Elko County, Nevada
What is this article about?
Levi P. Morton, Republican VP candidate, showed rare generosity by fully repaying 1854 business creditors with interest in 1883 after his success.
Clipping
OCR Quality
95%
Excellent
Full Text
A Commendable Act.
Levi P. Morton, Republican candidate for Vice-President, who is 64 years of age, is credited with one act of generosity which is something unusual in the career of a man of wealth. In 1854, when but 30 years old, he went to New York and established the dry-goods firm of Morton & Grinnell. The house failed, and settled with its creditors for 50 cents on the dollar. In 1883, after his bank had prospered greatly, he invited his creditors to dinner, and when the guests sat down at the table each one found beneath his plate a certified check for his claim and the accrued interest.
Levi P. Morton, Republican candidate for Vice-President, who is 64 years of age, is credited with one act of generosity which is something unusual in the career of a man of wealth. In 1854, when but 30 years old, he went to New York and established the dry-goods firm of Morton & Grinnell. The house failed, and settled with its creditors for 50 cents on the dollar. In 1883, after his bank had prospered greatly, he invited his creditors to dinner, and when the guests sat down at the table each one found beneath his plate a certified check for his claim and the accrued interest.
What sub-type of article is it?
Biography
Personal Triumph
What themes does it cover?
Moral Virtue
Fortune Reversal
What keywords are associated?
Levi Morton
Generosity
Business Failure
Creditor Repayment
Dry Goods Firm
What entities or persons were involved?
Levi P. Morton
Where did it happen?
New York
Story Details
Key Persons
Levi P. Morton
Location
New York
Event Date
1854 And 1883
Story Details
In 1854, 30-year-old Levi P. Morton established the dry-goods firm Morton & Grinnell in New York, which failed and settled with creditors for 50 cents on the dollar. In 1883, after prospering, he invited the creditors to dinner and gave each a certified check for the full claim plus accrued interest.