The record-union., 1897-01-28
Problem Surrounding the Selection Of
a Cabinet Believed TO be Solved.
The Chicago Banker Slated for the
Financial Portfolio.
Now On His Way to Canton in Re-
sponse to a Telegraphic Request
of the President-Elect to Visit
Him-0eneral Woodford Likely to
be the New York Member of the
Cabinet.
Cabinet.


be the New York Member of the
Cabinet.
CANTON, Jan. 27.-The complex
problem surrounding the selection of
Major Mckinley's Cabinet is now be-
lieved to be practically solved. and
Lyman T. Gage of Chicago, as Secretary
of the Treasury, is regarded as the key
to the situation. and the almost certain
choice of the President elect. This
moral certainty is strengthened by the
fact that the President of the First Ma
tional Bank Of Chicago is on his Nay to
Canton in response to the telegraphic
request of the Major to visit him.
M. A. Hanna came here to-day, and
was engaged for several hours in secret
conference with Major Mckinley. 1t is
believed that Mr. Gage is favorably con-
sidered by Mr.. Hanna
The work has been done in such quiet
and dignified manner that public atten-
tion has not been directed toward the in
fiuence brought to bear in behalf of Mr..
Gage until recently.
When the Treasury portfolio is filled
the other positions can easily be dis
posed of, excepting that to be given to
New York. That problem remains as
intricate as ever, but the impression pre-
walls here that General WoodfOrd has
the best chance Of the appointment.
The Presdent-elect does not seem to
have been Influenced against General
Woodford by the mild protest which was
CT n ip, " from
Eastern visitors.
Colonel John Hay is here in the inter-
est Of a friend, and now does not ex-
pect a Cabinet appointment for himself.
General William NJ. Osborne. who has
been the guest of Cornelius n. Bliss at
Jekyll Island on the Georgia Coast, will
remain here until Friday and then re-
turn East
Mr. Hanna's visit is not taken to have
any bearing on the Ohio Senatorial sit
uation Cabinet and inauguration mat
ters engrossed the time of his confer
ence with Major Mckinley
Governor Bushnell has received let
ter from Senator Sherman stating that
he will not resign his seat in the Senate
until he is confirmed as Secretary of
State.
SKETCH OF CAGES LIFE.
CHICAGO, Jan. H.-Lyman ]. Gage,
the foremost financier in the Western
metropolis, was born at De Ruyter,
Madison County, New York, June 2S.
1886. His parents, Eli A. and Mary
Judson Gage, were descended from Eng
lish stock, and were born in New York
State. Lyman was taken to Rome, n.
Y, when ten years old, and placed in the
Rome Academy, where he remained
four years His term in that institution
practically constituted his entire school
astic education His first position in
business life was as clerk in the Rome
Postoffice, and later he became route
agent on the Rome and Watertown
Railroad.
In 1854 Mr.. Gage obtained his first
bank position, being employed in the
Oneida Central Bank at Rome at a
salary of 500 a year. He remained
there a year and half. and in the fall
of 1855 he arrived in Chicago. He took
the first job he could get, with a lum
Der yard and planning mill firm. He was
engaged as bookkeeper, but he did
other general utility work, such as
teaming. The extreme business de-
preston of 1853 compelled the firm to
dispense with his services as book
keeper, but rather than have no job at
all Mr.. Gage worked for six weeks as
night watchman of the firms prop
erty
While engaged in that humble but
bread winning capacity the opportunity
of Mr.. Cages life came to him by the
offer of the position of bookkeeper for
the Merchants Savings, Loan and
Trust Company. From that position,
nearly two score years ago, Mr.. Cages
career has been upward by long and
steady strides until to-day he occupies
the highest position which can be at
tanned In any financial institution in
Chicago, the office of President of the
First Nationl Bank. In the spring of
1860 he had become Assistant Cashier of
the Merchants Bank. Later Cashier,
which he held until 1868, when he ac-
cepted the same position with the First
National Bank, with which institution
ihe has since remained. His promotion
has been steady and rapid.
Six years ago this week Mr. Gage
was elected to the Presidency of the
First National on the retirment of Mr..
Nickerson, although Mr.. Gage had been
the real acting President of the bank
for several years previous.
At the inception of the Worlds Fair
enterprise Mr.. Gage showed his faith in
the financial outcome, as we'll as his
confidence in Chicago, by practically
guaranteeing, with three other wealthy
citizens, that Chicago would carry out
its pledge of raising $4,000. 900 for the
exposition. This guarantee had potent
influence with the United States SEN
ate Committee, and was largely instru-
mental in securing the fair for Chicago.
Mr. Gage was unanimously chosen First
President of the Worlds Fair Board of
Directors, but on his elevation to the
Presidency of the bank he was COM
PEELED to retire from the head Of that
great enterprise. He refused to ac-
cept any of the liberal salary which the
Fair Directors had set part for the
Presidency.
Mr. Gage has always shown a deep
interest in the labor problem, and been
active in settling industrial troubles or
making an effort to do SO. He has been
married twice. first in 1864 to Miss Sa-
rah Etheridge. daughter OF DR. Fran
els B. Etheridge of Little Falls, N. Y,
who died in 1874, and in 1887 to Cornelia
Gage of Denver Colorado. He is a