Grand Rapids morning telegram., 1885-04-04
RUSSELL SAFE
Tns Millions One Ns~ York
Spsculator Has Lost
So sa<s's Fortaas Hes D@laadi~t- tsl
He.lth Sos FstiEsated "A Oa8y
frsaa 80. 0sa .0os - sI00o0.-
sts.a


lsaks a. tIs - basa-aoor ST.. sags has
aas al~ays sesa a. poor - b. Is noa. The
L-iisl prevails ga = a. street t1a1 be could
l6l as lhis tine scra5s together la ali as
possessions evef - a1e Hfl8 or il8.G0. 20 a.
the outside. Before stocks began "
81 ink. Ia ths summer oi l>si NJ Sazes
&salgn Eas estimated O. be close ga 70
sz5,91.9u0 Hs had bsen in @irh jay
61ald la lke lattsr's se4en4es- aai in ths
tpoi -tias ~ iAck thai tAs BE- l4tll- Aan
49, saIliag "a nat latis aassllss sums
Bet~eea is,s aad i,,l BE- asariy doubIed
a. fortua1. Ia siasie ye4r GOV ring
part of lss5 and part 1e l,si the street
thiazs he must nase made u eo,eo ga bis
puts" cal -" aud other privileges
alone. " aare hsmada most or his money
was 10 the Union Pacific, thv ahasA. the
Missouri Pacific and the Missouri, Kansas
& Texas Railroad. and the Western Union
eiegrapa consultations. the Texas q
Pacific construction. aai IN Investments
la the Erie Railway sec3u nd consolidated
bbnis ani the Iowa Central Railroad hrst
mortgage bonds. tie was caught ia the
unexpected decline along with Gould, aud
was unable % unloat the great mass of
securities that be had accumulated IN the
schemes and traRsa tions named. Thus II
vas that be saw MS fortune shrivel up be-
fore bis very eyes, aud be was unable 10
help himself
it was good deal like being caught by
eanaiJals- DE was "a exactly the same
position as poor missionary bound hand
aud foot, waiting 10 be cooked and eaten
by the man eaters. The missionary could
fh4 t.s4i- -. hot f.
whettins their knives on convenient
stones, and play ing leap-frog for exercise
% stimulate their appetites. He would
have retired from the scene il be could,
bat he was Obliged 20 stay for obvious
reasons. Mr.. Sage would have liked 10
have said cut his stocks and taken the
great profits that the high figures would
have given him. but he could not do it.
Every lot offered depressed the price, for
there was no mar ket for the securities, and
any attempt % force a sale would have
knocked the bottom ent rely out Of prices.
NJ. Sage's fortune began 10 shrink slowly
at hrst, but as time wore on the shriukage
grew more rapid. and he began ID be
aIarned. He knew that ne must practice
economy, and be took steps % curtail on
al sides he was sustaining missionary
in the far West, who was labOring among
the untutOred indians. The good man was
allowed $40 year 70 feed and clothe him
self IL was with a sad heart Mr.. Sage
carved 800 year of MS allow ance. Wall
street was afterward informed that Mr.
sage learned that the missionary had
turned savage, aud was getting fat once
more on Government rations.
Things went from bad 10 worse with Mr.
Sage, until to-day he is changed complete
" from what be was four short years ago.
TwO-thirds Of the money that be loved 50
wei has gone, and this is the reason OF the
great revulsion in his nature. At the OPEN
ing Of 1881 he was as cheerful as an army
mule eating thistles- The milk of human
Kindness had not then curdled in his
breast. and he was as benign and charita-
bic as the man who goes to church every
Sunday for the pleasure OF dropping
something into the contribution box. He
did great deal in charity, and ne was
fond Of presenting books to young men
who were striving 20 get on in the world
The art OF money making never had
greater fascination for any man than it
had for Russell Sage. and knife-t thrust
could not have hurt him more than it did
20 have fortune turn against him.
nWhen be first fell in " th Jay Gould he
was worth probably S6.e.O,OOO or 5000, 900.
That was all of ten years ago. Gould was
in desperate straits for want of money. He
went 20 Sage, who helped him out in his
time Of need by lending him 5000. 900. it
is said, and taking his Union Pacific stock
as security. Gould was grateful for a time,
and Sage was let into the different schemes
Of the Little Man" The motto OF Gould,
however, has always been that self-preser-
vati0u II the first law OF nature, and when
the decline was precipitated in 1881 he saw
, how things were going and, using the
4 language Of Wall street, got out" of his
stock "a fast "a ne could without giving
Sage notice. "A IL was Gould lost millions
befors be could clear up things. Sage il
keen and crafty, and after a while il
dawned upon him that Gould was very
likely marketing all he could He was not
long in convincing himself that his sur.
misc was correct, but he was obliged L
content himself with the second chance a.
7 the market.
Each succeeding day tsok away from hi,
+ wealth. and in 1882 he had become so fru
ga that be looked after the pennies quit,
an indication q the economy he practiced
In the times when every minute added Z
his dollars IA would lend an ear TO tn
plssdinxs q his stomach and order choy
and bottle If cider. When the dollar
began e. disappear be came down 20
p cheaper basis There was a little plac.
. called hole in the wall" where sand
I, witches were supplied At the moderate sun
4 Of five cents each. Then there vas = stan
where two diminutive red apples. tria
knotty. maybe. could - obtained for on
cent Mr. Sage became = patron ~ shes
places. In the place Of cider ne could drsv
i. glass of water from ne spigot in his owl
I office. snd sir cents invested in one sand
= wich and two apples served him FOR hi
mid day refreshment A hoy Who vas IN
accustomed f. going For his lunch wss sen
= one iav. In an evil moment the boy ven
h q Delmoniro's and squsndered Hfteei
cents for sandwich. NJ. sage read th
= boy lecture n sxtrsvaxance that Haaa
nis nair arrf and then &afvrrsS tan cent