Editing J. P. Morgan (section)

===Nikola Tesla's Wardenclyffe station: 1900===
In 1900, the inventor [[Nikola Tesla]] convinced Morgan he could build a trans-Atlantic wireless communication system based on his theories of Earth and atmospheric electrical conduction (eventually sited at [[Wardenclyffe Tower|Wardenclyffe]]) that would outperform the short-range radio wave-based wireless telegraph system then being demonstrated by [[Guglielmo Marconi]]. In what may have been a philanthropic investment,<ref>Carlson, W. Bernard (2013).  ''Tesla, Inventor of the Electrical Age''.  Princeton University Press, page 317</ref> Morgan gave Tesla $150,000 (equivalent to ${{Format price|{{Inflation|US-GDP|150000|1900|r=-5}}}} in {{Inflation/year|US-GDP}}) to build the system and Tesla offered him a 51% control of the patents. Almost as soon as the letter of agreement was signed, Tesla decided to scale up the facility to include his ideas of terrestrial [[Wireless energy transfer|wireless power transmission]] to make what he thought was a more competitive system.<ref name="teslatech.info">{{cite journal |first=Marc J. |last=Seifer |title=Nikola Tesla: The Lost Wizard |journal=ExtraOrdinary Technology |volume=4 |issue=1 |year=2006 |url=http://teslatech.info/ttmagazine/v4n1/seifer.htm }}</ref> Morgan refused to give Tesla any further money towards the project and, with Tesla unable to secure further investment capital, Wardenclyffe's development stalled and the site was abandoned by 1906.<ref name="teslatech.info"/><ref>{{cite book |first=Margaret |last=Cheney |title=Tesla: Man Out of Time |location=New York |publisher=Simon & Schuster |year=2001 |isbn=0-7432-1536-2 |pages=203–208 |url=https://books.google.com/books?id=HIuK7iLO9zgC&pg=PA203 }}</ref>