San Francisco Call, April 6, 1902, page 25:
FINANCIERS AID SIGNOR MARCONI
Morgan Group Takes an Interest in Wireless Telegraphy.
Special Dispatch to The Call.
NEW YORK. April 5.--The World says: Marconi will now have the aid of the J. Pierpont Morgan group of financiers. It was announced last night that a $6,000,000 company had been formed to finance the American rights for wireless telegraphy.
"Yes, it is true," said Marconi at 11 p. m. at the dinner of the British Schools and Universities at the New York Athletic Club. "Willard R. Green has arranged the transaction, but back of it is E. Rollins Morse, the banker. He is one of the J. Pierpont Morgan group of financiers. He has purchased the patents and rights for the entire system for the United States, Cuba, Porto Rico, the Danish West Indies, Alaska, the Philippines, the Hawaiian Islands and all waters adjacent to them. He has organized a company with $6,000,000 capital.
"The parent company is the London company. This has sold no stock. It is simply that the contract to use the American rights has been made. The two companies will work in harmony. Cuba will be the first station built. Work on connecting stations will be begun as soon as possible."
Mr. Green when seen last night said that the system might be in operation by June. E. H. Moeran, Marconi's attorney, confirmed this.
"Stations are building," said Green, "at Cape Cod, Cape Breton and Tampa, and soon work will be started on the Pacific Coast. These latter stations will eventually open up communication with Russia and the Orient."
How far J. Pierpont Morgan has gone into the financing of wireless telegraphy could not be definitely ascertained last night. He is now on the ocean en route for Europe. E. Rollins Morse is one of the most prominent bankers in Boston, who has recently come to New York. He is closely allied with Morgan in many financial matters.