This paper approaches issues of business history and organizational textual networks from a narrative perspective. Through narrative strategy analysis, it probes the dialectics between ‘text and context’, between historical events, historical images and narratives, which all are at play when it comes to building certain histories. This paper is particularly interested in how narrative crises are handled in the firm – how is organization narrative crisis re-membered, managed and compartmentalized and how is it read/re-read? In addition, the text will trace the origin of effective discursive formations in the Morgan family business, and how these formations were turned into core strategies and beliefs.