The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-09-13
HOW SANGER SAVED $1s5,OOo.
CycIed for Money to Pay His Fathers
Life-InsurE ice Premiums.
st. Louis Post-Dispatch.

Few bicycle rides in this country have
made more frineds, on the track and OIL,
than Walter G. Sanger, of Milwaukee. lie
has always been a pleasant companion,
always rode q race for all it was worth,
is modest in victory and never sulks when
defeated. People who know Sanger are
not surprised at the fact that during the
last few years he has devoted all the
money he won in keeping up payments of
premiums on his fathers life insurance. so
that when his father died recently the $751;
900 for which he was insured was saved to
the family.
Casper M Sanger. who died not long ago
father Five years ago he was worth
nearly $2,000000 Mr.. Sanger was fond of
sports, and when his son began bicycle
racing as an amateur he took great inter-
est in the boys progress; Walter Sanger
he took second place in a two-mile race at
a Scottish picnic, riding a cushion-tired
wheel During that season he won several
races and by 1892 had worked his way 10
the front rank of amateurs.
At this time Mr. Sanger, ST., had large in
terests at Daggett, Cal, where the Sanger
family lived for some time. He had a half
interest in a number of silver mines, for
which the owners had refused offer of
81 25O, GOO. Later Mr.; Sanger and his part
ners spent a good deal of money in build
ing stores and hotels in town. Walter San
ger was meanwhile winning laurelS an
amateur bicycle racer. His father travelled
around with him, and was always ready to
back his son with good hard cash. In 1893
the elder Sanger became so interested in
bicycling and bicycles that he put a sum
of money into q bicycle manufacturing
company III Milwaukee. This company
never made any money, and all Mr.. San
ger put in it was lost.
This bad venture seemed to be the begin
ming of troubles Silver had been going
down until the mines he partly owned in
California became almost Valueless. Other
Milwaukee concerns in which he was inter
ested failed For all these concerns Mr..
Sanger had indorsed paper to large
amount and when they failed he paid 100
cents on every dollar he owed. He even
sacrificed his home, which was worth
500 000 and which under the laws of Wis
conSin would have been exempt, in order
that his creditors might be paid in full. 1t
bad been his boast that no person ever
lost dollar through confidence reposed in
him.
Had Mr.. Sanger kept his health he would
undoubtedly have been able to recoup his
losses, for he was q man of great business
ability and tremendous energy. But buS1-
ness troubles had a marked effect on his
health, and paralysis attacked him, render
ing him practically helpless for nearly three
years before he died While Mr. Sanger
was prosperous he had taken out life in
surance policies aggregating nearly 5000, 900.
After his reverses came some of these
ance to the amount of $lS5,OO0. The
premiums on these policies were paid dur
ing the last few years by his son, Wal
money earned by him as professional
Besides paying these premiums Walter
has supported Z. wife and family. In 1884,
when Sanger was at his best, he won nine
ty-eight races and each prize was worth
from so to $3.50. When he learned the con.
dition of his fathers affairs he disposed of
all the prizes he had won as an amateur
and became a professional. His prizes for
1894 alone he disposed of for nearly $1,000,
and then began the struggle to keep the
insurance paid.
AS a professional Sanger won a good deal
of money, and he also had contracts with
manufacturers of wheels and tires that
brought him n some 49, 900 or SO, 900 a year.
The fathers death brought out the fact
that the son had paid the premiums, for
the younger Sanger himself is a modest
fellow who would never have told OF 1t.
But his friends have found out the facts,
and they are so proud of the young man
that they insist on having everyone know
of the pluck and self-sacrifice OF their
friend.