The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1901-08-09
WILL NOT TAKE
A VACATION
Famous New York Financier
Lays Down Some New
Rules
[By Associated Press.I

New York, Aug. 9.-Russell Sage
said today when asked Why he did not
take a vacation: Il am So years old 1
and a young man yet. can outwork
most men of so. | enjoy work and
hope to finish my earthly career right
here at my desk"
you are worth more money than
you know what to do with" said The
reporter why do you insist on pill
ing up moreg'
Mr. Sage leaned back in his chair
and laughed. not like an old, old man.
but heartily and happily. Flowers
wellwishers had sent him in remem-
brance Of the day were mixed with
telegrams and pus and calls on his
desk.
Yes have a great deal of money"
said he pleasantly "And I am max
ing more have, perhaps more ready
money on hand than any other man in
Wall street who is not a regular bank.
err But do not care for the money
as money am not avarlcious. l lake
small profits, but my business is so
broad II amounts to great deal.
must take some profit or It would not
be business. | enjoy my work and
like o be successful.
Retire and enjoy life? why. l am
enjoying life am getting more out
OF life than most men who give big
1.nners and have yachts I hope
shall never have to retire until my
life gork is done If sickness forces
me to quit now I'd simply rus out. /
don't want o rust out, want to wear
out"
why dont you die Of apoplexy as
other old Wall street men do?' the
reporter asked.
Because take care of my health
as well as Of my business" he answer
ed II never go to extremes in work.
ing or eating or exercising. do ev-
erything in moderation. never put
myself In a position where | shall have
to worry never lie awake at night
wondering whether I am on the wrong
side Of the stock market. because I
never deal on margins.
cts margins that kill SO many
men in Wall street go to excess in
their money making They make
thousands of dollars in one day and at
night they give big dinner and spend
much Of it running their health. That
is why they die suddenly or get old
at 60.
"Wall stree is as good a place for
a young man to do business as any
other if he will do it on business lines.
II he win buy stocks when they are
cheap and hold them for reasonable
profits he viii make money But mar
glnlng is the fatal mistake many make.
"To illustrate: Look at the steel
trust stocks today If the strike is
settled peaceably the stock is liable to
swing up 10 points in a week. If a
fight IS made 1t is just as liable TO
drop points If man owns his
stock It matters little to him and he
can sleep while they are fighting il
out, for It is sure to be settled some
time But II he holds stock on margin
he is liable to be ruined before It is
settled.
"The wisest man can hardly tell
which direction the stock will go, but
II he buys il outright when it is cheap
he does not have to know. That is the
secret in stock dealing. believe
that If a man tries a business hon
estly and does not succeed he should
quit 1t and go at something else.
II attribute my success to the fact
that have never broken my word
have paid 100 cents for a dollar and
nave always been a builder have
never been a wrecker. l am director
Of twenty-seyen corporations and have
helped to build more railroads, per
haps. than any other man now alive"
The autumn should be the time fol