The Paducah evening sun. [volume] (Paducah, Ky.) 1906-1929, 1908-09-03
How He Allowed Himself to he
Loaded Up With such Paper Is
Mystery.
VICTIM or SOME sHREwD MEN

which are worthless. Besides, there
are some "open accounts upon
when tie executors can realize little
or nothing.
Mining shares. railroad. bank and
tiustscompany Issues shares in ware
house and grain elevator concerns. sa
railrosd construction companies and
figms, Industrial concerns and steal
crmpanlef. improvement shares. cleo
trio railroad sioek. land grant scrip.
dclar ted state bonds OF Georgia aud
North Carolina and defaulied town
bonds are among the securities found
In MI sage's safe deposit vaults.
Mr.. Sages stock aud bond register
was kept by Charles W Osborne. con
adentlai man during Mr. Sagc's life
time, and now one OF his three exc
cutors.
Reminders of Old Cinzes.
The securities Of nominal va.ne
owned By Mr. Sage comprise a sort
of index To the periodic financial
spasms that have swept over the
United states since civil war times.
The dofaulicd state bonds are a re-
minder of the era when the fedora
government. the commonwealihs and
Lesser political entities issued IN alr
paper to provide funds for railroad
building The worthless rolling mili
securities we've put cut during a
craze for rolling steel Iais Grain
elevators were an old-time tayorlte
invcs;mont. Railroad shares are rem
nants OF foreclosures which wiped
out the equity behind the shares.
There are listed SC0.00p OF North
Carolina bonds. some issued TO pro-
mote railIoad construction, and some
antebclum paper OF thai common
wealth. There are slfG.OOo OF Gcor-
gia : per cent gold boads due N
1884. upon which the unpaid Inter
est Is equal TO OF greater than the
principal These bonds have been
repudlated by the states. Whether
Mr. Sage bought them at their iaecI
value or had them eft on his hands
~ collateral Tor unpaid notes. or
bought them al a fraction OF their
face valye IN the speculative eXpecta-
tion that the courts might some day
compe pa. ment. Il conjecturd.
Won by Name oI Gould.
Fifty shares OF the Produce tx
change Trust company's provisional
receipts have nominal value. ac-
cording to the appIalsement. After
IL was organized the trust combary's
: 81. 500 .O00 OF capita, aud $1,000 .0o0
OF surplus became tied up IN synd'-
cate leans. time losns, etc. Edwin
Gould and the late General samuel
Thomas ireopened the company, but
the prcvisiona, receipts merely repre-
scented 30 many certificates OF past
seags OF indie btednes. The trust
company has since been merged with
another Air. sages subscription 10
It's shares was probably induced oy
the name e the son OF his old friend.
jan Gould
Nineteen shares Of thc Marshall
Consolidated company have a yalue
Of ts.SS.
Tho Tradesman's bank and New
York wool warehouse went down to-
gcther about ten years ago. Mr., Sage
he'd 500 shares ~ the bank stock
aud zoo shares OF the warehouse
stock
stock In Wrecked Road.
Two railroads have been sold BY
the executors since Air. Sage died
on Iuly 22. 1906. One was favorltel
possession OF the hnancior. although
he had to make up deficit yearly
TO keep Il In operation. IL was the
Poughkeepsie aud Eastern At one
time Mr.. Sage scared the Vanderbilts
by threatenlng To connect this and
the New York Npi Northern, now
The Putnam division OF the New York
CtiainfI aud by crossing the Pough71
kvcpsic bridge. give the Erie an en-
trance 10 Manhattan Mr. Sage
owned al the 100000 of bends aud
5000 OF stock OF the Pough-
keepsle and Eastern aud the execut-
ofs sold the road for $500
The iinancler was president of the
Minnesota Railway Construction com
pany. which built line which the
Chicago Milwaukee and 81. Paul
gobbled up The construction COM
pany wont into the hands OF re-
coiver. There are $4,000 of bills
payable owing the company and II
has title to 2S,ii9 acres Of land aud
some day, The estate may get a diyi-
dcnd fiom the receiver.
The Abba arc Csntervllle railway
In Iowa Is operated at a loss. while
the stockholders await purchaser,
Mr.. Sage had 2.l30 shares listed all
ia. II appearJtha he had TO take
them on foreclosure OF loan.
DeWitt's Carbollzed Witch Hazel
piles. Sold by all druggists.