National Republican. (Washington City (D.C.)) 1872-1888, 1884-05-21
SAGE ON THE SITUATION.
He Has Lost Lots OF Money, bat Feels
Sure lie will Get IL Back Again.
The Ipnrld

The policeman in the corridor outside Of
Mr.. Russell Ssge's office was lonely yesterday. |
All tho three doors leading to Mr.. Sages |
sanctum were still closely locked and only |
the initiated could gain admittance. A re-
porter of tho World gained admittance. Mr. |
Sage was found exceedingly busy. "Well,"
said he rather brusquely, what can do for
your You must talk quick, for have no
time to spare"
Tell nae briefly then, Mr.. Sage, what your
view Is of the general situation y
II think" was the reply, that IL Is favor
able. The convulsion we have had here has
had no reason for it. The country Is pros
porous, money is plentiful, tho railroads are
earning more than in previous years. wo
have not been making any new stocks or
issuing any more bonds, and there Ia nothing
in tho general situation to prevent an UNI
usual degree Of prosperity. Tho fact was,
people got frightened aud lost their heads
that is most people did; those who did not
will mako great dcal of money, fool
sure"
"while we are on that, Mr.. Sage it is re-
ported that you have lost largely. Are you
ono of those who havo lost their heads p
mo; but l have suffered from other peoples
foolishness. / do not complain, however.
think may say that the end is not yet, and
l still live"
DO you think that prices will advance
rapdlyp
"No; think, on the contrary, there will
be what would call healthy advance, aud
l look before tho close Of the year to see prices
for all kinds of good securities higher than
for some time past"
"How as to tho crop prospectsp
"Well as to that, think you had better
consult some ono more intimately concerned
than l am. have been too busy lately to
think much about crops. Ihave been attend
| ing, not only to my own affairs, but, as you
have seen, have had those of o great many
other people thrust upon me-"
"Rumor credits you with q loss Of four or
five millions. May 1 ask how much you
have lost2"
"Of course you may, and should have no
objection to telling you, if know myself.
| but / don't; perhaps IL may turn out that l
have lost nothing should prices go up, as l
expect they will, have the stocks, and
should realize on them quite as much as they
have cost. don't see how they can possibly
GO lower, aud don't feel at all alarmed. Az
to my losses, however, you may say goner.
ally that they have been very much exagger-
ated. 1t is nothing but what can carry
easily and comfortably. Come to me some
timo hence and I'll tell you what l have
mado out ofthe recent furry in the street l
shall take much moro pleasure in telling you
this than in recounting probable losses"
"Will you DO able to meet the demands Of
all your customers to.day?"
II think so; the bulk Of tho puts are all
in. There are few large onos outstanding
and that is reassuring to me, as II shows that
the heaviest of my friends have not lost con
fidence in mo. The run on me was unex
pected, and was precipitated to place me in
an unfavorablo light before the public o.
course this has been annoying, but there wa:
no help for it. did the best could.
man can only sign his name certain num-
her of times in each hour, and as all these
people could not DO accommodated at once
of course some of them had to wait. They
must have known, however, that my ability
to meet all demands was ample, and think
they should have shown mo more considera'
ton.
1t was said that over million barrels of OF
were put" to Mr.. Sage yesterday, and thai
he accepted 1t without any deduction and
for the reason, 1t was said, no had sold a
short at prices far above these figures, and on
tho whole days transactions he would maxi
o large profit.