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RUSSELL SAGE (1816-1906)

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Originally appearing in Volume V23, Page 1002 of the 1911 Encyclopedia Britannica.
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RUSSELL SAGE (1816-1906), American financier, was born in Verona township, Oneida county, New York, on the 4th of August 1816. He worked as a farm-hand until he was 15, when he became an errand boy in a grocery conducted by his brother, Henry R. Sage, in Troy, New York. He had a part interest in 1837–1839 in a retail grocery in Troy, and in a whole-sale store there in 1839-1857. He served as an alderman of Troy in 1841–1848, and as treasurer of Rensselaer county in 1845–1849. In 1853–1857 he was a Whig representative in Congress. He became an associate of Jay Gould in the development and sale of railways; and in 1863 removed to New York City, where, besides speculating in railway stocks, he became a money-lender and a dealer in " puts " and " calls" and " privileges," and in 1874 bought a seat in the New York Stock Exchange. He gradually accumulated a fortune, which at his death was variously estimated as from $6o,000,000 to $8o,000,000. On the 4th of December 1891 an attempt was made to assassinate him in his office by one Henry Norcross, who demanded a large sum of money, and upon being refused exploded a dynamite bomb, and was himself killed.' Sage died in New York on the 22nd of July 1906. In 1869 he had married Miss Margaret Olivia Slocum (b. 1828), a graduate (1847) of the Troy Female Seminary (now the Emma Willard School). She inherited nearly all of his great fortune, and out of it she gave away a long series of liberal benefactions to various institutions
End of Article: RUSSELL SAGE (1816-1906)
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