The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-01-29
ALL DOUBT AS TO THE TREASURY
PORTFOLIO PUT AT
REST.
CHICAGO MAN AT CANTON.
M'KINLEY TENDERS THE CABINET
POSITION AND THE BANKER
ACCEPTS 1T.
SKETCH OF THE NEW SECRETARY.
Since 1891 He Has Reen the Presi-
dent of the First National
Bank of Chicago.

CANTON, Jan. 28.-At 7:30 o'clock
this evening Lyman J. Gage, president
OF the First National Bank of Chicago.
emerged from the dining room of the
Mckinley home to fill an appointment
with the press correspondents, to tell
them the result of his conference with
Maj. Mckinley
Mr.. Mckinley offered me the treas
ury portfolio. 1 told him 1 would ac-
cept the high honor and fill the position
to the best Of my ability"
Th1s was the first utterance of the in
coming secretary of the treasury on be-
ing presented to the party.
Mr.. Gage reached Canton about 2:30
O'Clock this afternoon, his train being
delayed by cold and snow. With him
was National Committeeman Cyrus Le-
land, Of Kansas. The Mckinley con-
Veyance was in waiting, and the visit
ors were hurried over the snoW-coyered
streets to the Mckinley home from
which no hint of what was transpiring
within came until dinner had been
served and Mr.. Gage stepped into the
office and addressed himself as quoted.
Beyond this he had little to say. He
declined to discuss any feature of the
policy OF the incoming administration.
or to discuss any matter other than
that relating to himself He said there
was no ground for the publication that
ne was gold Democrat during the
campaign, and that his only affiIiation
with the Democratic party was in 1884
when he voted for Cleveland He also
said that he and Maj Mckinley SUBJ
stantially agree on the tariff question.
The guests at dinner tonight, besides
Mr.. Gage were National Committee
man Leland, of Kansas; ex-Gov. Cornell
and Col. ]. ]. McCook, Of New York.
the latter leading attorney; w. c.
Beers, of the National Security Com
pany of New York, and Cen Osborne,
the secretary of the national commit
tee.
It was expected this morning that
the announcement Of the rendering and
acceptance of the treasury portfolio
would be made tonight Mr.. Gage was
met at the depot by the reporters. tn
whom he politely declined to talk. Az
terWards at the Mckinley home he
said, at dusk that there was nothing to
announce, but he would talk at
o'clock. He made his first announce
ment in the few words above in the
presence of Mr.. Mckinley H th,r
stepped across the hall where a score
OF special correspondents awaited him.
and repeated his terse statement and
was second time warmly congratu-
lated on the announcement Mr. Gage
left for Chicago on the 9:O7 O'Clock
Pennsylvania train
Lyman J. Gage was born at De Ruyter,
Madison county, New York, June 28 1895.
His parents, who were both born in the
state of New York. were of English stock.
When Lyman was 10 years of age his parents
moved to Rome, N. Y, where he entered
HT.,ar
years, the term he spent in that school
practically constituting his entire school
education. His first position IN business life
was as a clerk in the Rome postofice and
after leaving there he became route agent
on the Rome & Watertown railroad
In 1854 he secured position in the Oneida
a year and remained with the bank eighteen
months. He came to Chicago in the fall
Of 1855 and was engaged as bookkeeper by a
lumber firm. His duties bOokkeeper,
however, comprised the driving of one of
the teams belonging to the firm and load
ing and unloading lumber. He also acted for
thus engaged he was offered the position Of
bookkeeper of the Merchants Saving Loan
and Trust company, and this was the actual
beginning of his career as banker.
In the spring OF 1860 he had worked his
way up to the position OF assistant cashier
and later to that of cashier which he held
until 1865, when he left the Merchants Saw
ings Loan and Trust company to accept a
similar position with the First National bank,
with which institution he has been identified
until the present time.
The old charter of the bank expired in 1882
and upon its reorganization he was chosen
vice president and general manager About
this time his financial ability was paid high
compliment by his election to the presidency
Of the American Bankers association. On
Jan. a. 1891. he was elected president Of
the First National bank, and still holds
that position.
He was prominent in all Of the work that
made the worlds fair a great success, and
was one Of the four mem. J. P. Odell, Writ
Dexter and j. w. Doane being the others
who practically guaranteed that Chicago
would carry out its pledge Of raising $40, ,000,-
geo for the building of the fair He was for
a time president Of the local board of direct
ors, but upon his election to the presidency
of the bank he was compelled to resign this
Office. He refused any remuneration for all
the time he had spent as president of the LEGAL
worlds fair directors, although a handsome
salary had been voted for the position.
Mr.. Gage has been twice married his first
wife being Miss Sarah Etheridge, of Little
Falls, N. " whom he married in 1854. She
died in 1874, and in 1887 he married Cornelia
Gage. of Denver, Col. He is member Of
the Commercial and Union League clubs Of
Chicago, and, personally, is a very popular
man. He is democratic in his manners,
pleasant and affable, and is easy of approach
Al all times