The San Francisco call., 1906-08-12

ming announcement after surprising de-
velopments. bull movement after bull
movement, and bear raid after bear
raid; campaign after campaign, start
ling rumor after disturbing report.
roseate story after glorious dream OF
soaring prices-all these would sue
coed each other. and pass by now in my
memory, and still I see the steady spec
ter OF Russell Sage quietly and shrewd-
ly gazing at IL all, taking t. all in, COM
pretending every iota OF the situation.
standing ready always at moments
notice with the ability to draw the
largest individual check for money in
New York: ready to step IN where
wanted, where he could get the largest
rate OF interest--saving men. corpora
tlons, stock firms. even bitteres. enc
mics. from dire disaster WITH his ready
could command.
would see any one and every one who
In wise stand still an. ponder.
| You could stop any broker on the
moor or the exchange by beginning to
tell him something about what Mr..
Sage was going to do or had done.
You could secure-the undivided at
tention of any financier or big operator
or widest gambler on the curb by
merely mentioning Uncle Russelrs
| name.
In truth. he was power-a wizard.
Why?
1t was because his positively known
stupendous sum of ready money, ever
at his command. and the unbelievable
amount that he could raise at a mo-
nent's notice, could be thrown on one
eide or the other of fight for mil
liens. at the whim or will OF Russell
Sage.
So. at times of great excitement. when
something big was happening in the
market, when men were failing, when
firms were going to the wall. when q
great bear or bull campaign was un-
del way, that was Uncle Russelrs OPP
portunity. and he ruled the day
1t was q comparatively simple mat
ter to compute his position. to reckon
on what he would do so far as certain
absolute principles went. No one would
be SO vapid and anateurish as to pre-
sumo that sentiment would weigh an
ounce in Uncle RusSelPs movements. 1t
was simply and solely a question as
to where he could obtain the highest
and safest rates of interest for his
money when loaned and how best he
could secure a payment OF the tithes
he demanded. The greater the stress,
the greater the impending calamity to
others, the better he liked 1t. He was
bothered never with any qualms of
sympathy or sorrow over the new ones
who were losing money or strung up
between heaven and earth. their all
jeopardized. their property, their life
in the balance He was a financial
warrior, a calm general, furnishing the
sinews OF war as a commissary would.
selling at the highest rates when the
goods were most needed and exacting
the fullest payment for the supplies,
even to absorbing the entire personal
estate OF the belligerents IL he could
manage it. His safety at such tre-
mendous times lay chiefly in the fact
that he did not get excited when he
was winning. He only got excited
when he was losing-and I really be-
lieve that the smaller the amount he
lost the bigger fuss he kicked up in
his own mind about ii. / know of one
night that he did not sleep at all be-
cause he had paltry $4,000 lying idle
that was not working for him 1t
positively went over night without be-
ing out at interest somewhere. He lay
awake thinking about IT.. and his
household was treated to a lot OF
whimpering and cross grained talk in
Consequence. 1t was imagined that he
might be ailing on account Of too hard
work and too close application to his
office and affairs. There was nothing
the matter with him whatever. He.
was worrying that that $4,000 did not
earn some interest over night And I
know that the first thing he did the
next morning was to put it to work
somewhere and relieve his mind.
The best example of his universal
potency. the way magnates OF the
street" hung upon mis- words and the
complete way in which his actions
turned gigantic battles into defeat or
victory for this one or that, according
to Uncle Russells own sweet will was
the case OF James r. Keene in 1880.
Keene had come on to New York
from triumphs to the tune OF a few
millions in the stock market Of the CAL
ifornia metropolis. He had brought
his money with him. and stopped TO
make little more In Chicago. When
he arrived in New York he felt that
here was a field worthy Of his mettle.
He made some brags. undoubtedly. and
tho peculiarly pungent phrases express
ing confidence In his own ability To cope
with the best of them in Wall street
certainly reached the ears Of the quick
est and slickest OF the room traders and
brokers generally. Forthwith they de-
termined to lay for the artful Jim.
Great master of manipulation that he
is, ii was inevitable that these fellows,