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

silver mHstache took it and told me that
Mr.. Sage was not well enough to see me. A
moment later a banker came in with
great bunch of bonds. and the silver
mustached man, in return for them, signed
a check representing a snug fortune in
gold AS the banker left, l saw the silver
mustached clerk raise the door of an iron
chest as big one of the old-fashioned
wood boxes that stand beside a country
stove and dump the bonds into it. There
We're other bonds and stocks there already,
and in fact the box was filled with them.
There are two such boxes under that
window in Russell Sage's office; and no one
but the clerks know what they contain. At
the different times l have called l have seen
great bundles of Pennsylvania railroad
bonds. Chicago. Milwaukee and ST. Paul
bonds, Rock Island railroad stock, and
scores of other securities brought out and
passed upon. At one time, l remember, a
man came in to extend a loan. AS the
clerk looked over his bundle. which may
have contained half million dollars worth
of securities the envelope which held them
began to tear at the corner. AS he noticed
this the clerk said to the debtor:
II think you had better send me around a
new envelope or Mr. Sage will have to call
that loan.
Think of that! Asking for a new five-cent
envelope on "a transaction that probably
brought in interest at the rate of $4,000
year!
Watching the Pennies.
| Never theless, if l were doing business
with Russell Sage, should not hesitate to
send in the envelope in a case like that. He
| has been noted as being an honest man, but
also as a very particular one. In an inter-
view which had with him few years ago
| he told me that the coat he then had On
| had cost him SO, and it was part of a suit
which was then selling for $3.50 He was
not ashamed to wear a suit of that price,
although he had bought it, he told me, in
| order to illustrate his position on the tariff,
70 friends that low duties
made cheap clothing.
| Not long ago Russell Sage cashed a
| check for cents, and as he d SO 1t Is said
| that he remarked: ut was just like finding
| money, just like picking it up from the
| sidewalk" The check came in a letter. 1t
d! was from aetheatrical firm, calling his at
| tention to their new play tnen running at
I the theater, and inclosing this check to pay
| for the time used in reading the letter. This
was the note: -
| "Assuming that your income is $4,000 a
year. and that you appreciate me Iact ina.
| in nayment of two minutes of your time at
! that rate. to be employed In carefully read
| ing a brief and honest statement OF he
novel applause-wlnn1ng FEATURES IN our
| new musical farce.
Such letters were sent to many wealthy
New Workers, but it is said that Mr.. Sage
was about the only one VINO cashed the
check The senders had however, no idea
of his actual income, or the check would
have had to be enormously larger. MI
Sages income is probably somewhere be-
| tween $5,OO0O00 and $lO,ooo,UO year,
and according to the same calculations,
two minutes of it would be worth between
S25 and $50 mean that Mr.. Sage s income
probably amounts to at least $l2 a minute,
every hour of every day and every night,
wear in and year out At any rate, Me-.
sage indorsed the check, and 1t went with
! others of many times its. value to the de-
nosit- clerk of the bank.
How Sage Lends Money.
:. NAV interest the money borrowers of
,,a 1Tpited states to know how the great
80 money lender on earth gives credit
Tha most of Mr.. Sage's loans are on CALL
and az a rule an ample amount of good
,n,,as or silt-edged stocks must be left as
Collateral. The interest rates are not over
S;nb Millions are loaned at per cent per
ann,,m Here is the form of note often
used s >r,,, 49,,
Stock Note. NEW YORK, 1905
! az demand for value received we promise
" pa RUSSELL SAGE or Order
rive Hundred Thousand Dollars, at his Of
aoa with interest at per cent per annum,
itv for payment of this or any other liabil-
:;ty ar liabilities of = ~ to said Sage due
ar TO become due. or that may be hereafter
! contracted, the following property, as per
memorandum envelope dated The
market value of which is now -
with the right on the part of said Sage
from time to time to call additional collat-
eral security should the market value there
of decline and upon our failure to comply
with such demand, this obligation shall
authority to him or his assigns in case Of
| such default or of the non-payment of any
of the liabilities above mentioned at ma
turity, to sell, assign and deliver the whole