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Welcome to The New York City Newsletter!

In today’s edition:

• New York Jets Nearing Historic NFL Low

• AI art of the week

• A deep dive into the life of J.P. Morgan

• And more…

Quote of the Week

“Do not go where the path may lead, go instead where there is no path and leave a trail.”

— Ralph Waldo Emerson

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New York City Trivia

Here is your trivia question of the week. The answer will be shown in next week’s newsletter. Which do you think it is? No cheating!

Birthplace of hip-hop culture?

A) Harlem

B) The Bronx

C) Brooklyn

D) Queens

Answer to Last Week’s Trivia:

The New York City bridge that celebrated its 100th anniversary in 1983 is A) The Brooklyn Bridge.

The Best Stories of the Week

💼Business

UnitedHealthcare CEO Brian Thompson fatally shot in New York in targeted attack.(link)

Inside The Walt Disney Company’s New NYC Headquarters.(link)

🏦Finance

New York-based realtor acquires local giant properties and Christie’s International in $444 million deal.(link)

🏒Sports

New York Jets Nearing Historic NFL Low with Poor On-Field Performance.(link)

Concerning struggles for LeBron James mount as ‘everything’ is off.(link)

Upcoming Events

Here are some events that are happening in our city this week. There is a good mix between sports, entertainment, conferences, concerts, and more.

Sports

🏒 New York Rangers vs. Chicago Blackhawks
Madison Square Garden New York,
Monday December 09 | 7:00 PM | (more info)

🏒 New York Islanders vs. Los Angeles Kings
UBS Arena Belmont Park, NY
Tuesday December 10 | 7:30 PM | (more info)

Music & Concerts

🎤 Katie Gavin
Bowery Ballroom New York,
Tuesday December 10 | 7:00 PM | (more info)

🎻 Janine Jansen w/ Denis Kozhukhin
Stern Auditorium / Perelman Stage at Carnegie Hall New York,
Tuesday December 10 | 8:00 PM | (more info)

Family

📚 Story Time Playgroup Trial
Chess at Three - UES Club 1309 Madison Avenue New York,
Wednesday, December 11 | 9:30 - 10:20am EST | (more info)

Image of the Week

Every week, I have a habit of making some AI art about our city.

This week, I typed in “New York Cityscape with a fusion of different historical eras.” and this is what I got.

Let me know what ideas you have for this. I really enjoy making these types of photos.

New York City History

1927: Completion of the Holland Tunnel.

In 1927, New York City celebrated the completion of the Holland Tunnel, a groundbreaking engineering marvel that connected Manhattan to Jersey City, New Jersey. Named after its chief engineer, Clifford Holland, the tunnel was the first mechanically ventilated underwater tunnel in the world. Its opening marked a significant milestone in transportation, reducing congestion on ferries and bridges and facilitating smoother travel between the two states.

The construction of the Holland Tunnel began in 1920 and faced numerous challenges, including managing the tunnel's ventilation to ensure the safety of workers and future users. Engineers developed an innovative ventilation system that continuously pumped fresh air into the tunnel and removed exhaust fumes, setting new standards for tunnel construction. The tunnel stretches nearly 1.6 miles under the Hudson River, with twin tubes to accommodate traffic in both directions.

Upon its completion, the Holland Tunnel was hailed as a triumph of modern engineering and significantly boosted economic activity by improving access to New York City. It became an essential part of the region's infrastructure, supporting the growth of commerce and tourism. The tunnel's success paved the way for future projects and remains a vital transportation link in the metropolitan area.

Famous New Yorkers In History

J.P. Morgan (1837–1913): Influential banker and financier.

Early Life and Education (1837–1857)

John Pierpont Morgan, better known as J.P. Morgan, was born on April 17, 1837, in Hartford, Connecticut. Coming from a prominent and wealthy family, Morgan was groomed for success in the world of finance from an early age. His father, Junius Spencer Morgan, was a successful banker, which provided J.P. with a strong foundation in financial affairs. Morgan received his early education in Boston and later attended the prestigious English High School of Boston. He furthered his studies in Europe, attending the University of Göttingen in Germany, where he honed his skills in mathematics and finance.

Early Career and Rise in Banking (1857–1871)

Morgan began his banking career in 1857 when he moved to New York City and started working for Duncan, Sherman & Company, the American representative of his father’s London-based firm, George Peabody & Co. His keen financial acumen quickly became apparent, and he established himself as a formidable figure in the banking world. In 1861, he joined his father’s firm, J.S. Morgan & Co., in London. By the end of the Civil War, Morgan had returned to New York and formed a partnership with Charles Dabney in Dabney, Morgan & Co. This firm later became Drexel, Morgan & Co., cementing Morgan’s position as a leading banker in the United States.

Formation of J.P. Morgan & Co. and Influence on Industry (1871–1900)

In 1871, Morgan co-founded Drexel, Morgan & Co. with Anthony J. Drexel, which eventually became J.P. Morgan & Co. This firm played a crucial role in the development of the American economy during the late 19th and early 20th centuries. Morgan's influence extended across various industries, including railroads, steel, and electricity. He was instrumental in financing and consolidating several major corporations, including U.S. Steel, General Electric, and the Northern Securities Company. Morgan's ability to stabilize and reorganize struggling companies earned him a reputation as a financial genius and a powerful force in American industry.

Connection to New York City (Throughout Career)

New York City was the epicenter of J.P. Morgan's business empire and the base of his financial operations. His presence in the city significantly influenced its development as a global financial hub. Morgan’s offices at 23 Wall Street, often referred to as “The Corner,” became synonymous with American finance and power. His involvement in financing and organizing major corporations brought considerable wealth and prestige to New York City, helping to establish it as the financial capital of the world. Morgan’s philanthropic efforts in the city, including significant contributions to the Metropolitan Museum of Art and the New York Public Library, further solidified his legacy in New York.

Panic of 1907 and Financial Leadership (1901–1910)

J.P. Morgan's leadership was crucial during the Panic of 1907, a financial crisis that threatened to collapse the American banking system. Morgan orchestrated a coalition of bankers and used his own resources to stabilize the financial markets, effectively preventing a broader economic disaster. His decisive actions during the panic demonstrated his unparalleled influence and cemented his role as the de facto central banker of the United States. This event also highlighted the need for a central banking system, eventually leading to the creation of the Federal Reserve in 1913.

Later Years and Legacy (1911–1913)

In his later years, Morgan continued to wield considerable influence in finance and industry. He remained actively involved in his firm and continued to shape the American economy through strategic investments and reorganizations. Morgan's health began to decline, and he passed away on March 31, 1913, while traveling in Rome, Italy. His death marked the end of an era in American finance, but his legacy lived on through the institutions he built and the economic stability he helped establish.

Legacy and Influence (1913–Present)

J.P. Morgan's legacy as a financial titan endures to this day. His contributions to the banking industry, corporate finance, and economic stabilization have had a lasting impact on the American financial system. The firm he founded, J.P. Morgan & Co., evolved into JPMorgan Chase, one of the largest and most influential financial institutions in the world. Morgan’s philanthropic contributions also left an indelible mark on New York City’s cultural and educational institutions. His name remains synonymous with financial power and innovation, reflecting his profound influence on the development of modern finance.

Key Achievements:

• Founded J.P. Morgan & Co., one of the most powerful banking institutions in American history.

• Played a pivotal role in the consolidation and stabilization of major industries, including steel, railroads, and electricity.

• Led efforts to stabilize the American financial system during the Panic of 1907, preventing a potential economic collapse.

• Made significant philanthropic contributions to cultural and educational institutions in New York City.

J.P. Morgan's life and career were characterized by his unparalleled influence on American finance and industry. His strategic investments and reorganization of major corporations helped shape the economic landscape of the United States. Morgan's decisive actions during financial crises demonstrated his leadership and commitment to economic stability. His legacy in New York City and beyond is reflected in the enduring success of the financial institutions he founded and the cultural and educational advancements he supported. Morgan’s contributions to finance and philanthropy continue to resonate, underscoring his lasting impact on American society and the global economy.

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-Yannick Lyons