The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1884-05-18
SAGEN OFFICE MOBBED.
The Doors Broken In by Excited Privilege
Holders in Spite of Policemen.

the close OF business hours the ONCE oil
Russell Sage. the famous millionaire and
dealer in puts" "calls," and "strad-
dies" was surrounded by a bowling mob
OF prvilege-holders, vainly endeayOring to
force that astute linancier TO accept
the puts that he had sold. Mr..
Sage's Office is on the second floor
Of No. II Broadway. As early as 0
o'clock long line was formed, eX-
tending, in 4 serpentine form, from one
end Of the spacious corridor to the other.
The noise they made was deaienng. Mr..
Sage's clerks found it impossible to do any
business. and as Il last resource had two
police officers detailed TO keep order. At
half-past 9 O'Clock Mr.. Sage made his APP
pearance in the corridor. and was greeted
with expressions such rs There comes the
old man.; lies good, guess; "Giye
the old man chance" etc. Mr.. sage
looked somewhat care-worn. and seemed
anxious to avoid the noisy and turbulent
crowd.
To a reporter he said: " Everything is
all right. There Is absolutely no need
whatever for all this clamor; but people
will become eXclted without much, if any,
provocation."
At a few minutes before 10 O'Clock the
crowd became so large that there was
scarcely standinC-room. A stout, elderly
man, who was said to be Mr.. Lockwood, OF
the firm o! Lockwood d Co., brokers,
pushed his way through the crowd and
knocked loudly on the door 1t was par
TALLY opened. and in loud voice he eX.
claimed, TEL Russell Sage that il he does
not order the doors OF his office to be
thrown open by 10 o'clock will notify the
Stock Exchange. That's what Pm here
FOL-" The door was slammed in Mr.. Lock-
woods face, which grew purple with an
ger. He paced up and down the corridor
wrote something on piece OF paper. and
when the door was again opened he threw
ID in, saying, Take that TO hm; I'll 90
right TO the Stock Exchange and report the
fact that it is 10 o'clock and that this office
is not OPEN" lie then hurried down stairs.
This caused 4 stampede among the wait
ing throng and dozen or more made
charge for the door with the apparent de-
termination to force it open. "Stand
back !" cried one OF the policemen. III
you attempt any violence here I'll arrest
the whole lot OF you. No breaking doors
while Pm here" The watches of the
youths noted ten minutes past 10 O'Clock
and the doors were still closed, onlya privi-
lodged few being permitted to enter The
crowd began TO whistle and indulge in cat
calls.
Mr.. A. Il. Weston elbowed his way
through the excited crowd to the reporter
and said: d" Mr.. Sage desires me to say
that he has begun the business Of the day,
and that he expects to have disposed OF
the bulk OF the puts early this afternoon"
SIS Mr.. Sage paying all demands made
upon him in full?" was asked.
"He desires me to say that he is taking
advantage OF all the privileges Of the Ex-
change. Already the representatives OF
number OF firms have called and have been
settled with. The basis upon which settle
mentS are being made is that we are paying
the difference between the market price
and the put price, for which we are CIV
ing checks. Everything is going along
well. Mr.. Sage has plenty OF money to
meet any and all claims. He also asks me
to say that he was signing checks as fast
as possible
"Why do you not throw open the Office
doors:"
because we cannot do anything with
the noise this crowd makes. We are nego-
tiating with the larger firms first. As soon
rs we get through with them we will allow
half a dozen Of these messengers in at Il
time"
At noon the doors were still tightly
closed, the crowd began TO lose its temper,
and finally when the door was once more
opened TO let a man out rush was made.
In went the door. and the unfortunate at
tendant measured his length on the floor,
buried under half-doZen boys and men
who fell headlOng over him. Those who
did not fall found themselves rushed I'M
tremendously into the presence Of the
fnancier himself. who, in an excited tone
Of voice. exclaimed: "Put them out
Put them out " Meanwhile the police
men who were guarding the private en-
trance to Mr.. Sage's office drew their
short clubs and succeeded in driving the
crowd out OF the room, without, however,
resorting to violence.
"This is disgraceful," murmured Mr..
Sage. "Send for more police"
In few minutes there were half dozen
policemen in the corridor and something
like order was restored, but only for a time.
however, for at 1 o'clock the corridor was
literally packed, this time not by boys. but
by scores OF businessmen, who were loud
in their denupciations OF the conduct OF
Mr.. Sage in refusing to open the doors and
give every one a fair chance to procure a
settlement, whether the amount was large
or small. The open sesame at both the
private and public entrance was three dis
tinct knocks. This was soon discoy-
cred, aud almost every one who wanted
to get in employed it, only to find the
door, after being opened to about the width
OF IN inch or two, slammed in his face.
This so irrtated some that they left in dis
gust. a man wearing Eyeglasses tried
his hand As soon as the attendant showed
his head he said 90 am from the Supreme
Court, and | demand to be admitted
The words were scarcely spoken when the
door was banged in his face, almost shat
tering into pieces his gold-rimmed glasses.
He declined to say what his name was. but
admitted that he was a lawyer whose clients
held large number OF Mr. Sage's "puts."
At 2 O'Clock Mr.. Weston announced that
no one would be admitted except those
whose certificates had been already stamp
ed. We have" he said, "been issuing
checks steadily all day, and find that those
who are able to obtain ready cash do not
hesitate at dollar or two to get It. Nr.
Sage will begin again at half-past or 10
O'Clock tomorrow morning to issue checks,
and hopes that by noon he will have every
thing cleared OFF,
At q meeting Of the lard and provision
trade OF the Produce Exchange to-day the
action OF Mr.. Sage, in settling at discount,
was denounced as an outrage, and II was
said that although the Stock Exchange did
not recognize dealing In privileges, yet
members of the Exchange were required to
have an Office where they could be found
during business hours, and this could not
be said to be the case with MIR. Sage.