The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-08-23

|B!.BO.Kl:R'A|G|| Firm |||'|
HhSClQ|sI|.D||:|||0:|Q | D 8
Failure, Said to Involve rs $4,000, ~ ;''e',;
900, Announced Yestesrd7 g. da1y .s.
in New ork.
BRANCHES Z il. in MANY n. CITIES
Com Said to 3, Have More. More
Thar 5000 Accounts As IS :l;t !.
" s Outstanding
BRANCHES in !. MANY u N CITIES G 1 ::':'
q.
(Byl Associated P7ress.)

BY ASSOclat
NEW YORK, August 22 m 4. \! J, q age
and Company. brokers' of: Mo- Mont IL
gomuery Street, ersey City ,s;ss y nd Mo- 81
Broa dway, this city a Z the close Of bus
mess hours o-day, posted 5a% motto y q T
their Jersey City office In forming their
that t. they had discontin7T h
3ued business. The firm had branch offices
IN h a. number OF cities 5ir 4 the East, and
correspond ents3 through out Ii the country.
The amount involved In the fallu Is
sa IA to be large although no one In au-s
thority could be found tonight to8 ID give
figures. sS
ss sage and Company was incorporated
sund err the laws Of the State OF s. New
York in Z 1904 .4s with q capital ~ tock q
|. $50, ,OoO i The object Of the company n as
set forth in 4 the &,inco rporation. papers,
was to conduct stock comml sion bust
al h M The president OF the firm is Maurice
J,F Sage, X a. young man who Ga me 70 TINS
city about twelve years ago from II islns
lf1amton. N. Z. 53 \. # NV
s sUp to May the firm, gether r with tho
EGuanajuato Amalgamated Mines s. Con,; !,
pany, occupied Joint offices at & = .sas
Y broadway. II q -.
33 The Gllanajuato9 VI Amalganlated Mlncs
Company ia the property Of Albert .,
4Ada ms. .t73 After his release from Sine
sing ne purc chased ths m nini ms pr ope ny ny,
aiocated III Guanaj ajuato, Mexico Tor IL q
g,,1n estimat ed at 81. .000, ,0oO shortly al
this Adams went to Mexico and ansdl nc" 10y
lives near his mines s. Z,
sSf / involves Two Million Dollars,
NJ II Is stated that the Sage system con-
sisted st q string of at least 800 branch
ofnces. stretching from Maine % new ,s
orleans, IA nd In some quarters lo-HlsMe
the failure was declared to. invot'Ve pos
sibly 81, ,0Oo. 900. .
Although a great business was done
hv this Stock Commission, firm. y mas
no stock exchange inenbershp p here,
\ rrha principal branch Offices OF the firm
are located In tho larger cit ties and towns
Of New England, New York q nd y SlSehffSt en-
sylyania az B !. a. 4 I. !,
! ali their financial oblgat ttons,s During t'e
time they have been sn bu sness y !! y eyI haa
encountered several sew ere bull cans
nnigns, espeo eoallys the one during the lat
Ter part 81 last year, = WAS not long,
however,, beofra the loss sustained bS.L'le I, 9
firn, was recovered. Following the bull
market came n:sensational co tton marker,
fAt the e5outbreak Of the actiy lies IN the .
cotton market the Sage company nag M
one direct wire running from thelr reW
York Offices throughout the Sou lhaasteFn
States throu gF to- New, or s. tele 9
we're lTb branch Offices Of y lts firm con-
3nected with lhis wire.
Bank Shut Down. 81
I,uri,n,g the Il sensational times in the,
ton mar rketl u about the time Il %Ssof the
panic, tie speculation In. cotton IN the
X South was enormous, The Sage system
got a great volume of business through
tie Southern bra ncies, and as 4 q result
OF the camp Ign the firra scAp o'lt 4 y