Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-01-07

l SAFE, at MS option, at any time or times
thereafter. without advertisement or notice
to - and with the right on his part to
become purchaser thereof a such sale or
sales freed and discharged of any equity
and redemption And after deoucting all
legal or other costs and expenses for coll
lection. sale and delivery, to apply the res
idue of the proceeds of such sale or sales
SO made. to pay any. either or all of said
iiaoiiities. as said Sage shall deem proper,
returning the overplus to the undersigned;
and will still remain liable for any
amount so unpaid.
Oisheu
4
How Young Texan Made a Fortune.
The most of Russell Sage's loans are to
bankers and brokers. He has been ready,
however, to lend to any one upon security,
and If the business history of New York
couid be written / venture many a story
would be told as to how falling houses have
been propped up by Sage's money. One of
the queer deals was that by which young
White Texan, made 100000 out of
loan he got from Sage. 1t was during the
latter part of Cleveland's second admins
tration The government was hard up for
m oney, and large block of bonds had been
SOLD at high prices through Pierpont Nor
gan. second block was ready for sale;
but this was offered to the public and SUBJ
scriptions might be made by any one.
among the subscribers was a young
Iexan named Abraham White. He had fig
ured out that the bonds would increase In
value just as soon as they were issued and
ne made bids for several million dollars
worth of them. His bids ranged from los
up to 112, and the bids for 100000 worth
were higher than the bids made by Pier
pont Morgan and his syndicate. AS
suit that much of the bonds were awarded
to him.
AT the time White made the bid he had
not a dollar in his pocket, and his sole
capital was about IA cents, which he used
IN postage stamps and in addition little
small change. AS soon as the award was
made he called upon several bankers and
tried to get a loan to enable him to pay
Tor the bonds, but they all refused. He
then went to Russell Sage and frankly told
him just how he was situated. Mr.. Sage
said:
MIR. White, you are asking for a good
deal of money, but will let you have it at
4 per cent per annum. He had White make
out the proper papers and loaned him the
money, whereupon White forwarded the
cash to the treasury and got the bonds. He
sold them and returned the money to Sage.
Out of that deal White is said to have
made clean 100000.
Never Borrows.
1t is said that Russell Sage never borrows
money himself. He is so situated that he
can produce several million dollars within
an hour, and he has always money for big
things. The only time that he has been
in debt was in 1884 when he became i'll and
had nervous 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 mil
lion dollars. He also found the debt and
paid 1t with ready money. Mr.. Sage has
never been afraid to invest big sums nor
to spend freely to make more. His econo-
mics have been in a small way. He has OBJ
jected to paying fifty cents for an article
worth twenty-five cents, but not to paying
hundred thousand dollars for what he
thought might soon be worth one hundred
and ten thousand dollars.
Does He Worship Money!
Is Russell Sages money his god? l doubt
1t. He has devoted his life to money-mak-
ing, because it is his business and because
he has enjoyed the game. 1 asked him
once why he kept 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:
Il don't know why. L don't know that
l could if 1 would and ! fear l would not
live long if l did So 1 like work better
than play. My happiness is in my work.
and l suppose | shall continue to work as
long l live
At another time he said that he had en-
joyed himself quite as much while he was
ii
street, and that wealth was over estimated
as giving happiness. Said he:
wealth is always travelling under false
pretenses. 1t does not confer the advan-
tages that the poor imagine We men are
making money because we want to have
the credit of being smart enough to make
1t. There is nothing in money itself worth
struggling for after one has enough for his
needs"
Jay Gould said about that same time:
The notion of getting comfort from
great wealth is nonsense. A decently eco
nomical man cannot spend more than the
income from a million dollars. Rich men
try to get more, not for the sake of the
money, but because they want to excel
They are like boys who climb trees trying
to see which can climb the highest with
out falling. They say no man ever had
enough 1t is not true. / have enough
and know dozen other men who feel tha
same"
Advice to Young Men.
Russell Sage has always been ready to
advise young men. and his advice is al
ways good. Like Hetty Green, he believes
in Providence, and he thinks that Provi-
dence has favored him in giving him a
fortune. He believes also that Providence
helps those who help themselves. and
that He is always looking out for the
young man who thinks, plans, works and
economies. Mr.. Sage has no sympathy
Will Tie lued THAT Il rlcn man neceS-s
sar1ly dishonest man, and says that the
great financiers of the world have be-
come so by honest work and hard work
He told me once that his first thousand
dollars was made by small savings. and
that he thought it better for a boy to be
born poor than rich. He believes thai
penny savings banks should be connected
with the schools and that thrift should
form a part of every boys education He
breaches the value of money and advises
every young man to live within his in
come, to spend less than he makes. and
to invest what he saves. He thinks one
should save % cents out of every dollar
and more if possible.
Another bit of his advice to young men
is to join the church and take part in the
Christian movement. He believes in char
ity, and says every young man should
give much as he consistently can.
doubt not that Mr.. Sage gives a great
deal himself and through his wife. Her
charities, at least, are known everywhere.
His Simple Habits.
have already spoken of Mr.. Sage's
habits 1t was after he was four score
that he told me that his good health had
been due to his careful eating. drinking
and sleeping. He does not believe in club
life. When he first came to New York he
joined the Union League Club but he