The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-07-23
RUSSELL SAGE IS
CALLED BY DEATH
Veteran Financier of New York
Passes Away at Age of
Ninety Years.
HEALTH HAD BEEN GOOD
UP TO NOON SUNDAY
Dissolution Due to Heart Fail
ure, Caused by Weakness
of Extreme Age.

NEW YORK, July 22.-Russell Sage
died suddenly today at his country
home, Cedarcroft," at Lawrence, L.
I. The immediate cause of the death
was heart failure, resulting from a
complication of diseases incident to old
age. The veteran fnancier would have
celebrated his Goth birthday on August
4. Mr.. Sage had been In exceptionally
good health since his arrival at his
noon today he was seized with a sink
ing spell and collapsed, falling into un-
consciousness about two hours before
his death, which occurred ut 4:3o
o clock.
There were present at the end Mrs.
Rev. DR.. Robert Leetch, DR.. Theodore
S. Janeway of New York, DR.. j. Carl
Schmuck, a. local physician, and Dr.
John P. Mum, for many years Mr..
Sage's family physician, who was sum
moned from New York when the first
alarming symptoms were manifest.
Funeral Next Wednesday.
The funeral services will be held on
Wednesday. at the West Presbyterian
church in West Forty-second street, of
which Mr.. Sage had been member for
place in Troy on Thursday. Mrs. Sage
and her brother. Col Slocum, are named
as the executors of Mr.. Sage's will.
1t is generally believed that Mr..
Sage's vast interests will not be seri-
ously affected by his death. Several
times within the last few. years rumors
have been set afoat of Mr.. Sage's
death. On one occasion, in June, 1890.
Mr.. Sage said:
81 suppose somebody wanted to
make little money by affecting stock
values, and they hit on this old trick. -
Asked if stocks had been much af-
fected. he answered ~ understand
not The properties in which I am in.
| terested cannot be seriously affected by
the rumor of my death
Master OF Finances.
Russell Sage, multimillionaire and
Nestor Of American fnanciers, wss
Oneida county, New York, where his
parents, Eliza and Pendence Sage,
members of a little company Of pio
neers from Connect ticut, had halted
while on their westward march in quest
of homestead. At the age of IL Rus
boy in the grocery store of his brother
Henry, in Troy. At the age of % he
established a wholesale grocery Of his
own in that place. In 1857 the young
merchant had accumulated fortune of
about half a million-a great sum in
active business. He had already be-
come interested in railways, his first
transaction of this character being a
loan to the Lacrosse Railroad com
pany. which led to further transactions,
resulting, in his acquiring large inter
cago, Milwaukee G. st. Paul system. Of
which he became vice-president. This
determined Mr.. Sage to devote his time
to this business in Wall street, and In
1866 he opened his office.
Partner of Jay Gould.
About that time he formed an asso-
citation with Jay Gould, which continued
several years. In 1867 he originated
the present method of trading in
"puts," /" "calls" and straddles,' in
which he dealt later on a colossal scale.
When he purchased a seat on the New
York stock exchange in 1874 1t pro-
vided that he never appear on the floor
Of the exchange.
Only once. il is said, did Mr.. Sage
experience a tremendous loss which
would have shaken another man, but
from which he emerged with confidence
| unshaken. From that memorable day
Grant & Ward was announced, resulting
in the loss to Mr., Sage Of about $4,000
600 on long line Of "puts," his OPP
erations necessitated the possession OF
vast amount of ready capital, and
Mr.. Sage always kept his resources so
well in hand that in any emergency he
was able to control almost hmitless
funds.
Had Many Corporations.
At the time of death Mr. Sage was
an officer and director In twenty-five
grent railroad and telegraph corpora
tlons.
An incident occurred In Mr. Sage IS
office at II Broadway on December 1,
1891. On that day he was visited by
Henry P Norcross of Boston, man OF
unbalanced mind, who demanded au
immediate gift of $l,200,00O. When the
dynamite bomb on tho floor. The ex-
plosion. which decapitated Norcross.
killed one of the clerks and wrecked
the entire Office. Mr.. Sage was only
slightly injured by the explosion.
For many years Mr.. Sage occupied.
during the winter, an oid-fashioned
brown stone mansion at 506 Fifth ave
nue.. from which he was reluctantly
compelled to move about four years
ago, owing 10 the invasion Of CON-
merce, His summers were spent at his
country place Mt Lawrence, where he
died.
Mr., Sage was married twice-in 1S41
/, Wvnnc of Troy. His wife died in
New York City in 1867, and two years
later he married Margaret Olivia.
daughter of Joseph Slocum Of SYRIA
cuse. n. Y.
Vampire Attacks Clergyman.