JOHN PIERPONT MORGAN
An American financier, J.P. Morgan dominated corporate finance and industrial consolidation during the 19th century. In 1893, he gained control of Anthony Drexel's firm and renamed it J. P. Morgan & Company. He soon became involved in developing a railroad empire by reorganizations and consolidations in all parts of the United States. Morgan also played a key role in developing the United States steel corporation. After buying out Andrew Carnegie's steel company, he successfully achieved this goal which ultimately helped the United States compete with international steel markets.
as he began to control some of the nation's largest industries, he started to get criticized for his control and monopolies making it difficult for any small companies to compete against his. This led to the creation of the interstate commerce act of 1887 which was passed to regulate the railroad industry. Morgan began to set up conferences that brought together railroad leaders in order to help future consolidations.