Democratic messenger. [volume] (Snow Hill, Md.) 1869-1973, 1906-07-28
Sketch of His Life.

Russell Sage. multi.milionaire and
Nestor of American financiers. was
born on August 4. 1916. in Verona.
Oneida county. n. " where his par.
ents, Elisha and Pendence Sage. mem.
bers OF little company OF pioneers
from Connecticut. had halted while on
their westward march in quest OF
homestead. At the age of II years
Russell began his career as an errand
boy in the grocery store of his brother.
Henry Sage. in Troy. Al the age of
% he established wholesale grocery
Of his own in that place.
In 1857 the young merchant had &C.
qnired n fortune estimated at almost
$500 900 a vast amount for those days.
and determined 10 retire from active
business life. He had. however al.
ready become interested in railroads.
his first transaction of this character
being loan to the La Crosse Railroad
company. which led To further trans.
actions resulting In his acquiring
large interests in the roads now form.
ing the Chicago 4 Milwaukee e. st.
Paul system, of which he became vice
president This determined Mr. Sage
to devote his future energies To oper.
atlng in Wall Street. and in 1863 he
opened his first Office in New York
About this time he formed an asso.
citation with Jay Gould. which contin-
ucd for many wears. About 1872 Mr..
Sage originated the system of trading
In puts" calls" and "straddles" in
which he continued to deal thereafter
on a colossal scale. While he pur-
chased a seat on the New York stock
exchange in 1874, II Is believed that
he never appeared on the floor OF the
exchange.
Only once. /, is said did Mr. Sage
experience tremendous reverse. which
would have crushed most men, but
from which he emerged with courage
and confidence mistaken. This was
on the memorable day In 1884. when
the great failure of Grant a. Ward was
announced, resulting in the loss to MIR.
Sage OF about $4,000 900 on long limo
OF puts
His operations necessitated the pos
session of vast amount OF ready CAPT
tai. and Mr.. Sage always kept his re.
sources so well in hand that In any
emergency he was able to command al.
most unlimited funds.
At the time Of his death Mr.. Sage
was an officer and director in % great
railway and telegraph corporations.
An incident which startled the whole
country occurred in Mr. Sages Office.
In the old Arcade building. II Broad
way. December 4. 1891. On that day he
Boston. "A man of unbalanced mind.
who demanded an immediate gift OF
81 200. 900 When the demand was re-
fused Norcross dropped a dynamite
bomb upon the floor. the explosion OF
which decapitated Norcross. killed one
Of the clerks and wrecked the whole
Office. Mr.. Sage was only slightly In.
jured by the explosion.
For many years Mr.. Sage occupied
during the winter an old-fashioned
brownstOne mansion at SOC Fifth ave-
nue.. from which he was reluctantly
compelled To move about four years
ago. owing TO the invasion OF retail
stores. to number 632 Fifth avenue.
His summers were spent at his coun-
try place az Lawrence. where he died.
Mr.. Sage was married twice. first In
1891. 10 Mins Maria Whine. daughter Of
Moses !. Whine 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. ". Y.
Russell Sage was a total abstainer
most OF his lie. and always OF extreme
=.