The Providence news. (Providence [R.I.]) 1891-1906, 1901-02-25
SACE'S POWERS
ARE FAILING.
Recent Deals In Stocks Have
All Proven Losers.
GENERALLY ON WRONG SIZE.
Recently His 0reTsiIons Have Shswn Loss
Of His Former KssnnasS In Gaugins tho
Markst-A Sample Defeat
GENERALLY ON WRONG SIZE.

New York. Feb. 25.-If Russell Sage
were not known 10 have millions upon
millions OF dollars--his fortune Is conser-
vativcy estimated at something like 81.
100000 OoO-the stories that are anoat IN
Wall street IN these days about him
would long since have developed into ru-
mors or his being broken, or likely 10 be
broken by the stock market.
The market IS no sooner known 10 be
going against some daring operator than
tho gosslps begin To- whisper that the
daring operator is face 10 lace with poy-
erty or the pooThouse
There are evidences galore that Mr..
Sage has been on the wrong side oil the
market and that he has been losing a lot
OF money, but not even the most mYeter-
ate OF the rImur makers has yet been
bold or original enough To intimate that
the losses are large enough to%mbarrass
the itular old man OF the street.
SAGES LIMITED INCOME.
II is very apparent however. that Uncle
Russell. In not embarrassed, at lcast ~
badly worried by DaWe fortune iack
OF smiles for him at the present time.
His put and call business has never De-
fore been so unprontaDle, While his stock
market commitments nave shown an ex-
tcntiy.
lndeed. said one Of his associates Il few
day ago, about the only source OF income
upon which Mr. Sage recently has been
able to rely with any degree OF coni-
oence has been the meetings OF boards of
directors OF which he is a member. and
Tor attending which meetings Zee OF
$ IS paid.
this friend showing not a little solicitude
tor the Wall street veteran, that Mr.
Sage's right hand has lost its cunning.
lie issues puts when he should have made
IL call. and the result T. that he is eth
er constantly paving our cash In the one
case or depicting his treasury Of stock
certificates in the other attribute IL 10
advancing years.
''He appears To me 10 be falling quite
rapidly in these days. and IL would not
surprise his friends II he should be com.
PEELED 20 retire from business before the
new century has progressed much fur
ther.'
Mr. Sage is nearly fourscore and a half
He goes TO his office every day. but Is
seen less frequently In the streets of the
financial district nowadays. His growing
feebleness constrains him 70 eschew out
side work IA much possible.
He continues 20 tell his friends who i'm
quire as 20 his health that he Is stil
strong and hearty and feeling good for
many more wears Of hard work. but the
very voice In which he makes his favor
ite declaration Of youthful energy bellies
his words showing In its shakness daosieS hai
therefore overtaXng his powers.
A SAMPLE DEFEAT.
The success of the bull pools in Mis-
sourf Pacific and Manhattan is said TO
have been que more largely To Mr. Sage >
UNCONSCIOUS assistance than 10 any other
one influence.
The more the pools I'm these stocks bid
mp their prices the more Mr. Sage sup
piled them with stocks. feeling confident
tnat there would not be dividend in the
one nor an increase i'm the other Tor
long time.
At length the pools had both markets
practically cornered, and Mr.. Sage was
compelled TO acknowledge defeat, which
In Wall street means signing a big check.
Numerous other instances area cited
showing that Mr.. Sage took the wrong
position on stocks of companies of which
he is a director. and with financially dis
astrous results.
fl continues 10 be true. however that
Notwithstanding his advancing years. no
sharper has vet been able to get the adj
vantage of Mr. Sage and divorce him
from his money on incommensurate or I'm
adeuute pretext. To this extent at least
tnere Is no need of a guardian for the
erstwhile partner of Jay Gould.