Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1901-08-03

with grain became frozen In the canal
al an unpreCedently early date IN the
year IL was bitter cold, and all the
weather prophets We're sure Of an UNI
usually severe and protraCted season.
The grain was destined for New York.
II might spoil In the barges, and Cer-
tain II was that every week OF delay
lessened It's market value. Wheat was
high In New York, and famine was
threatened.
The young merchant thought IT over,
ana made an offer for the wheat as 1t
lay on board the barges, to be deliy-
cred in thirty days or to be carried to
New York IN case the weather mOder-
ated so that the boats could get
through. The owners jumped at the
bargain. Il gave them a small profit
ana Insured them against loss. No
sooner was the deal made than the
weather turned warm. A heavy rain
melted the Ice. The canal boat made
the trip to New York just in time to
escape second cold spell which locked
all other boats fast in the ice until the
following spring In this speculation
the boy merchant made $4,000. He
admits that he might have suffered 4
serious loss and comedies that there
IS sucn thing as luck.
1t was more by accident than design
that MI sage entered on his career as
railroad builder and owner. He
founded the Commercial Bank Of Troy,
and In the course of business loaned
$4,000 TO The Lacrosse Railway COM
pany. The road soon became fnan-
cialiy embarrassed and the young bank
er saw his money fading away In
threatened bankruptcy.
He made an investigation md de-
cided that the property was a good one.
lie advanced more money, and yet
more. taking bonds and stocks as Sc
Curity and hnally came into large in
terest in what Is now the Chicago,
Milwaukee ana ST. Paul railroad. lie
became firm believer IN the future
OF railroads, and is To-Day interested in
tWenty-t0ur thousand miles uf track IN
an parts OF the United States,
The subsequent career OF the four
dollar 81 month clerk is a pant Of the
commercial and financial history of the
country, with a period Of ten years
when he rose 10 a commanding posi-
politics lie was at the head OF the
New York delegation IN the Wing con-
yenti0u If lsit and was pledged TO
Henry Clay The convention favored
General Zachory Taylor, and as a COM
promise permitted Nj. Sage 20 name
the candidate for Ni.a President. lie
selected Willard Fillmore who, upon
the death OF President Taylor q few
months after taking his seat, became
President Mr. Sage subsequently,
served two terms in Congress and de-
cined third nomination and all other
/ political hOnorS.
It Is difficult for the present genera
ton 10 obtain a proper perspective Of
| the bOyhOOd days of Russell Sage.
| Denied the benefits which come from
years Of careful schooling. he was
thrown at an early age into what was
nothing more than a country saloon,
| and into associations which proved the
/ ruin OF ninety-nine boys out OF hun
] bred. such was heacademy from which
he graduated, with no faint Of the tap
J room and with "a keen knowledge OF
men and affairs and seemingly an IN
/ tultive ken of events,
He had an advantage which the boy
| today lacks. I he country which spread
| out before his Widing vision was Il new
| and an undo = loped one Every avenue
/ OF business ana occupation was open TO
| the lad or man Of energy and talent.
/ No pool combination or monopoly
| reared its walls or fences against his
| efforts II was a fair field and no ia
vors. In closing 1t is well TO record
| that Russell Sage is the only man in
! the world known 10 be worth a hundred
| million dollars who has sounded a
! warning against organized encroach-
| mcnt on free competition He does not
| agree with those who contend that a
| young man has as good a chance TO
| rise In an era OF trust ownership and
control as in the days when no limit
was placed on his scope and activities.
It Is remarkable that one man should
! IN the span Of his life witness the birth
| OF a new civilization, made possible by
| the development Of machinery. and feel
| compelled In his old age to declare our
| institutions threatened by an industrial
| and commercial movement which may
usher In civilization as far removed
| from that of today as today is from the
/ time when Russell Sage began his busi-
! ness career
And yet who dares TO say that the
| methods Of today will not. in 1870. be
deemed as crude as We esteem those
! Of 1880?
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