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Morton (PAUL American financier)

PAUL, American financier and politician; born in Detroit in 1856; died in New York City in 1911. He was educated in Nebraska public schools, and at the age of 16 entered the employ of the Burlington and Missouri River railroad as office boy. By his abilities he gained rapid promotion, becoming vicepresident of the Colorado Fuel & Iron Co., in 1890. In 1904 he was appointed Secretary of the Navy by President Roosevelt, but in 1905 he resigned, to become president of the Equitable Life Assurance Co. of New York City.