The Columbian. [volume] (Bloomsburg, Pa.) 1866-1910, 1897-03-25

system" by which brokers and traders
In securities who had small means
were enabled to test their Judgment
by large operations, and at the same
time protect themselves from heavy
loss. He sold puts and "calls,' -
"spreads' and "straddles," with the
result that dealings on the Stock Ex-
change greatly increased. AS is fire.
quently the case, the inventor profits
little, and Mr.. Sage lost several mil
hons of dollars in the privilege bust
ness. and that, too, in half week.
It was toward the end of May, 1894.
Mr.. Sage had sold puts upon thou
sands and thousands of shares of
stock. The market suddenly became
weak. prices dropped away, and a
panic was threatened.
1t should be borne in mind that
privileges" are contracts not enforc-
able by law. 1t Is also borne in mind
now that Russell Sage never went
back on his word. For three days he
sat with pen in hand and, amidst the
excitement, when over 200 brokers
were clamOring to get into his pres
ence, signed check after check upon
The Importers and Traders Bank, un-
ul he had used up several books and
had seen, so it was estimated at the
time, $4.000.000 of his fortune melt
away like snowfakes in the sun.
1t was on December 4, 1891, Fri
day, and, to be exact, 1890 o'clock. for
Secretary Menzie's watch stopped at
that moment, when the crank, Nor
cross, who wanted over 81 100000 of
Mr.. Sage's money, threw the bomb
ehat killed himself and injured Mr..
Sage and others and blew the office
into kindling wood. That event was OF
too recent date to need a reminder Of
the details and the discovery of the
would-be assassin through the medium
II clothes button which was picked
up in the building. Everybody in the
building was shaken up and scared
Sut Of considerable growth.
When some outside barbarian ac-
cuses New Workers of lack of civic
vride, the loyal GOthamite usually
points to Madison Square Garden and
the Metropolitan Opera House as evil
dence to the contrary. Here" he has
been wont to explain with true Knick-
erbOcker pride, "are two magnificent
monuments to public spirit. Both
these splendid structures have been
hnilt and maintained at loss by men
who dedicated them to the service and
amusement of their fellow-citizens. -
But there is limit to good nature.
The stockholders of the Madison
Square Garden Company think that
they are satisfied with the experience
they, have gained. and are quite will
ing now to have someone else shoul-
Ter the load. So they decided. Any
anterprising agriculturist who wishes
TO try his hand at this sort of garden
ng can get the site at bargain, and
have the famous bronze Diana, that
moves with every wind on the latest
style OF ball-bearing axis, thrown in
The Garden was evolved out of the
old Harlem Railroad depot, and as.
sumed its present shape in $780, 1t is
shfO "i Ses' puiiuihS III tue country eu'
tirely devoted to purposes of amuse-
ment. The arena holds II 900 people
the theatre 1000 and the assembly hal
Zoo more. 1t has been the scene OF
many notable events, social, political
and sporting. The hope is that some
multi-millionare. or syndicate OF
them, may come forward and buy il
the building, and either continue it In
its present form, or remodel it, so that
while preserving it's essential features
additions may be made that will rem
der the property, In measure, O
profitable investment.
CYRUS THoRP.