Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1905-01-07

tory Of New York could be written l
venture many a story would be told as
to how falling houses have been prop
ped up by Sages money one of the
queer deals was that by which young
White, a Texan made 500 600 out OF
loan he got from Sage IL was during
the latter part OF Cleveland's second
administration. The government was
hard up for money, and a large block
OF bonds had been sold at high prices
through Pierpont Morgan, A second
block vas ready for sale but this was
offered TO the public and subscriptions
might be made by any one.
Among the subscribers was young
Texan named Abraham White. He
had figured out that the bonds would
increase in value just as soon as they
were issued and he made bids FOR sew
eral million dollars worth Of them His
bids ranged from los up to ~ and the
bids for $l,5O0,O0O worth, were higher
than the bids made by Plerpont Morgan
and his syndicate As a result that
much OF the bonds were awarded 70
him.
At the time White made the bid he
had not a dollar IN his pocket, and his
sole capital was about a. cents which
he used In postage stamps, and IN adj
MS the award was made he called upon
several bankers and tried to get q loan
To- enable him to pay for the bonds, but
they all he used. He then went to RUS
sell Sage and frankly told him just
how he was situated. MIR. Sage said:
Mr., White, you are asking for a good
deal Of money, but / VIII let you have
1t at I per cent per annum He had
White make out the proper papers and
loaned him the money, whereupon
White forwarded the cash to the treas
ury and got the bonds. He sold them
and returned the money to Sage. out
Of that deal White is said to have made
a clean 800 000
It Is said that Russell Sage never bor-
rows money himself He ls so situated
that he can produce several million dol
lars within an hour, and he has al
ways money for big things. The only
time that he has been in debt was in
1884 when he became IN and had nerv-
Gus prostration, He then got the crazy
idea that he could raise no money, A
million dollars was then borrowed for
him, but as he got better and was
ready TO attend TO business again he
found that his balance at the bank
was several million dollars, He also
found the debt and paid It with ready
money. Mr. Sage has never been afraid
10 invest big sums nor to spend freely
to make more. His economies have
been in a small way He has objected
to paying fifty cents for an article
worth twenty-five cents but not to pay
ing a hundred thousand dollars for
what he thought might soon be worth
one hundred and ten thousand dollars.
DOES HE WORSHIP MONEY?
Is Russell sage's money his god?
doubt 1t. lie has devoted his life 20
money-making, because it Is his bust
ness and because he has enjoyed the
game. l asked him once why he KEEP.
on working, remarking that he was one
Of the richest men Of the world and that
he had more money than he could ever
spend He replied:
II don't know why ! don't know
that | could If | would and | fear |
would not live long If / did so, | like
work better than play. My happiness
is in my work, and ] suppose | shall
continue 10 work as long as / live"
At another time he said that he had
enjoyed himself quite as much while he
was member Of Congress as when In
wall street, and that wealth was over
[ estimated as giving happiness. Said
he;
Wealth is always travelling under
, false pretenses. II does not confer tho
advantages that the poor imagine. Wa
men are making money because we
want to have the credit OF being smart
enough TO make It, There is nothing
In money itself worth struggling for