France: Morgan's Return

It was almost like the good old days. In an 18th century mansion on Paris' elegant Place Vendôme, Morgan & Cie., a name prestigious in French banking since the days of the Franco-Prussian War, last week reopened as an investment banking house. The reappearance of Morgan & Cie.,* complete with tellers' cages of gilded wrought iron, will remind a privileged minority of middle-aged Americans of the prewar years when Morgan's in Paris not only tended its clients' investments, but held their mail, minded their children, and saw their maids and steamer trunks safely into the Ritz across the square.

The...

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