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Show RUSSELL SAGE DIEr AT RIPE OLA AGE Veteran Financier and 8tock Speculator Specu-lator Would Have Celebrated His Ninetieth Birthday on August 4th Next. New York. Itussell Sago dlod suddenly sud-denly Sunday at his country homo, "Ccdarcroft," at Lawrence, L. I. Tho Immediate cause of death was heart failure, resulting from a complication of diseases Incident to old age. Tho voternn financier would have celo-bmtcd celo-bmtcd his ninetieth birthday on Aug. 4. Mr. Sago had boon In exceptionally exception-ally good health sln,co his nrrlvnl at his summer homo, about six months ngo. At noon Sunday he was seized with a sinking spell and collapsed, falling Into unconsciousness about two hours before his denth, which occurred oc-curred at 4:30 o'clock. Itussell Sago, multl-mllllonairo and Nestor of American financiers, was born on Aug. 4, 1816, Jn Verona, Oneida Onei-da county, New York, where his par-ants, par-ants, Eliza and Pendanco Sago, mem-bors mem-bors of a little company ot pioneers from Connecticut, had halted while on their westward march In quest of a homestead. At the age of 12 Russell Rus-sell Sago began his career as erftind boy In tho grocery storo of his brother, broth-er, Henry, In Troy. At the age of 22 ho established a wholesale grocery of his own In that place. In 1857 tho young merchant had accumulated a fortune of about half a million a great sum In those days and began to rotlre from active business. Ho hud already become Interested In railways, his first transaction of this character being u loan to tho Lacrosse Railroad company, which led to further fur-ther transactions, resulting In his acquiring ac-quiring largo Interests In the roads now forming the Chlongo, Milwaukee & St. Paul system, of which ho became be-came vice president. This determined deter-mined Mr. Sngo to dovote his time to Wall street, and In 1866 ho openod his office About that tlmo he formed an association with Jay Gould, which oontlnucd soveral years. In 18C7 he originated tho present method In "puts," "calls" and straddles," In which he dealt later on u colossal scale. When ho purchased a seat on tho Now York stock exchange In 1871 It provided Hint he never appear on tho floor ot tho exchange. Only once, It Is said, did Mr. Sago cxporlcnco a tremendous loss, which would hnvo shaken another man, but from which ho emerged with confidence confi-dence unshaken, From that memorable memor-able day In 1884 when tho great failure fail-ure of Grant & Ward was aunouncod, resulting In tho loss to, Mr. Sago of about $0,000,000 on a long lino 61 "puts," his operations necessitated tin possession of a vast amount of road; Sapltal, and Mr. Sage always kept hit resources ho well In hnnd thnl In any emergency ho was nblo to control al most llmltloss funds. At the time of death Mr. Sago was an officer and director In twenty-live great railroad nnd telegraph corpora Hons. |
