The new North-west. [volume] (Deer Lodge, Mont.) 1869-1897, 1882-03-24
RUSSELL SAGE INTERVIEWED.
He Thinks the Crisis Passed. but thar the
Railroad RalIding Maria Has subsidized.

New YoRK, March TIA Tribune re-
porter asked Sage what he thought Of the
market withintbe past few days.
The country at large, said he, is very rich,
and investors are we'll able TO take securities
at the low rates which are now ruling. /
regard the condition of affairs as assuming
very healthy outlook for the future. Prices
are such now as to justify tie most conserya-
tive capitalist In making investments. Money
ID plenty and the continual paying off of the
national debt throws most unprecedented
additional amount Of money into the market
to be invested. The recent change of tone
on the street will do vast amount of good
TO the people, who having originated whole
some enterprises will now be able TO 20 ON.
This change of tone will be more beneficial
to business interests than anything that could
have happened. Otherwise many legitimate
and desirable enterprises must have suspend
ed, owing to the fears Of dizziness and de-
preston. think Mr.. Gould's and Dir. Van
derblt's coming forward and planting them
selves down solid for the right have restored
feeling of confidence which was very much
needed and which will produce very benef-
cial results. With such crops as we may
reasonably expect and with the unexampled
prosperity Of the past ten years going steadily
on, shall be surprised If by September and
October general change of such charac-
ter will not be shown as to prove the wicked
HEARS ~ tnfuiaA thu VFlIlfa in trvfpu IN la
It believe how ruin was close at hand. An
other view to be taken of the depression and
one which makes it clear that IL has not been
without profit, is that it has checked extrav-
aganee and the growing importation of high
priced luxures from abroad. The importa-
tion Of goods has materially fallen of, much
to the qualification of thoughtful people who
watch the balance Of trade which should
continue in our favor. In view of all these
facts, am strengthened in the conviction
that we have TUNED the corner in this down
ward course of the market, and that from
this time the advance will be continuous.
In concluding the interview Mr.. Sage re-
ferred tothe display made by Mr.. Gould. 1t
N1aIu nave utGA bAoSO IL Idu iilsiStSu
on seeing the packages opened. l knew the
public had frequently accused Mr.. Gould of
sharp tricks, and when / insisted on seeing
the contents of the packages labelled to con-
tain so many millions each, he did a wise
thing to show them. When stock was ex-
hibited on which Mr.. Gould has never put
his name, showing he has never used it or
transferred il, that settled the matter beyond
any probable question. II was wise thing
to do. Those stocks, If put on the market,
could be disposed Of for cash in ten days, or
thirty on the outside, for $40, 100000 or more
but the fact that Mr.. Gould has these stocks
on hand shows the fact that he proposes to
stand by them, and Mr.. Vanderbilt is also
protecting his.
Mr. Sage further said The present inabll-
ity Of the promoters of railroad enterprises
to go on Is due to their failure to negotiate
bonds to secure the money to prosecute the
work Of construction. This leaves the older
and already finished roads in better condi-
ton than would be possible IL the mania for
building new roads were to continue,
Then you consider the construction of
new roads practically at standstll for the
present?
Few railroads will be built this yea.
The re is general suspension of this work
all over the country. am connected with
dozen railroad corporations, and in each
instance we have wound up the work for the
present, after settling with different con-
tractors. / do not think they will 60 on
again for year or two, perhaps 1t will even
be longer. am ready TO 60 on when | am
satisfied that ID will pay, but | am altogether
opposed to building mile of road when
business will not fully justify It. There Is
all unerring law of progress that fully one
half of sill the new railroad companies are
swept away and another set of proprietors
comes in to take their places.