The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1906-07-23

At one time Russell Sage cashed a
| check for cents, and as he did so It
| is said that he remarked: .'It was Just
like finding money, just like picking it
/ up from the sidewalk The check came
| in letter. Tt was from a theatrical
/ firm. calling his attention to their new
play then running a the theater, and
] inclOeing this check to pay for the time
used in reading the letter. This was
he note:
Assuming that your income is s15.-
/ o0o . year. and that YOU appreciate the
fact that time is money we inclose
/ check for 4 cents in payment of the two
minutes of your time at that rate. to b.
! occupied in carefully reading \ brief
and honest statement of the novel ap-
/ plause-winning 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
/ who cashed the check The senders
1 had. however no idea of his actual in
come. OF the check would have had to
! be enormously larger. Mr. Sage's in
come was probably somewhere be-
tween $4,000. 600 and $10.000.00O
year. and. according to the same cal
culations. two minutes OF it would be
worth between $25 and $50. This
means that Mr.. Sage's income prob
a oily amounted to at least S12 a min
ute. every hour OF every day and night,
y 6fl al anu year out Al any rate MI.
/ Sage Endorsed the check. and it went
| with others Of many times its value to
the deposit clerk of the bank.
His First Wages.
At the age of 70. when most boys are
a school or at play. Russell Sage left
the farm and went with his brother to
Troy In the winter months he had
attended a district school and had
| learned to read and write. He had ac-
cess to no books other than the school
books. but he had thoroughly mastered
those He had an ambition It was
the mbition Of most boys. He wanted
to be great man.
Russell went to work in A store in
Troy owned by his brother Henry
Risley Sage. For his services h e re-
! ceived 81 a month and board. It was
hard work and lots of it. From
O'Clock in the morning until 6 ana
sometimes 10 o'clock at night he work.
ed in the building which yet stands al
the corner of River and Hutton streets
Troy. y. Y
The Sage store was an old fashioned
grocery; liquor by wholesale and retail
formed an important part of the traf-
/ f1c- At the end of a year Russell's
salary was raised to S6 a month. and
when 5 years old he was getting 81 a
week He saved nearly all of It.
Horses were in great demand and
the ambitious clerk ever had his eyes
open for a promising Vermont or
Canadian colt. Many are the stories
told Of his shrewdness in horse trad
ing. His knowledge of horses and his
ability to buy and sell them more than
doubled his income.
With some OF the money he en-
tered upon a new venture on his own
account. He built sloop. and was
one of the first to navigate trading
lsail craft from Troy to New York He
handled on commission a lot of YER
in New York city. It was his first
visit to the metropolis, then a city of
2700 people. He roamed around
the markets and asked questions of the
grain and produce men. He made a
study of prices and at once saw that
there was large profit to be made in
shipping stuff from Troy to New York
He sold his horses and produce at a
good advance and made contracts for
more
With the money obtained from the
sales he purchased such groceries. drv
goods and other articles as would be
in demand in Troy. and taking adj
vantage of a favoring wind and tide
set out for Troy. which he reached
speedily and without accident. This
trip netted him nearly 500 and
opened to his eyes a new world.
The young man then terminated his
career as a clerk and entered into
partnership with another brother,
Elisha Montague Sage. and opened a
grocery store at 40 River street. In
two years the profits from his sloop
and from other transactions were
such that he was able to buy out his
brother. Then came the great tenn
perance wave of 1899. and he sold out
the grocery store at a profit and
abandoned forever any traffic in
At the age Of % the young man
found himself the owner of at least
SIS, 600 in cash, several tracts of
land two sloops and a business ex-
perience which he determined to put
into profit.
spent Nothing on Himself
On himself he spent nothing. Already
he was one of the most substantial citi-
zens of Troy, with a reputation which
made his word as good as his bond He
w Bates in the wholesale grocery and
commission business. This place of
business was at No. 139 River street,
and it was here that Russell Sage real
~ entered on that business career which
has made him more than a hundred
times a millionaire. In five years he
purchased the interest of Mr.. Bates.
paying for it the sum of 100000 in
cash. He was then % years old. and
already was one of the wealthiest men
in the United States.
Early in his career and when vet but
a boy in years, q fleet of barges loaded
with grain became frozen in the canal
at an unprecedentedly early date in the
year. II was bitter cold, and all the
weather prophets were sure of an un-
usually severe and proracted season.
The grain was destined for New York
It might spoil in the barges, and GER
tain 1t was that every week of delay
lessened it's market value. Wheat was
high in New York, and a famine was
thu eatened.
The young merchant thought it over
and made an offer for the wheat as it
lay on board the bal ges. to be deliver
ed in so days or to be carried to New
York in case the weather moderated
so that the boats could get through
The owners jumped at the bargain II