Don't Drop the Dynamite
True Crime Historian
Richard O Jones
4.4 • 729 Ratings
🗓️ 20 December 2023
⏱️ 66 minutes
🧾️ Download transcript
Summary
Episode 238 takes an inside look at the mad business of stock trading during the boom of the late 1800s as we hear the news of a bombing attack on the offices of one of the titans of Wall Street, the second-richest man in the world. The dust is barely settled as the lawsuits begin. I think you'll get a kick out of the reason why.
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Transcript
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| 0:00.0 | Paul Pueller.com |
| 0:03.0 | Russell Sage, the second richest man in the country, tells his story, how he grappled with fickle fortune and won the fight. |
| 0:26.2 | Quote, my parents were poor and I was the youngest of a family of five children. |
| 0:32.0 | Of course, my youth was one of more or less hardship, like that of most country boys. |
| 0:39.0 | I got some schooling every year when I was small, but at the age of 15 I went to Troy and entered the small grocery store of my brother Henry as a clerk. I had my board and $4 a month wages. It was |
| 0:45.5 | probably all that I was worth, all that other boys my age were getting. But I saved some of it. I |
| 0:52.5 | knew the value of money at that early age, and I put away some of my wages every month. |
| 0:58.0 | I was always ready for a swap and made some lucky money in that way, for I was unusually lucky. |
| 1:05.0 | After three years of this service, I went into business myself there with my brother, Elisha Sage, and we dealt in groceries and provisions |
| 1:12.3 | on a small scale. Our credit was good, for we always paid promptly, and we prospered. We went so far as |
| 1:19.8 | to buy a sloop to run to New York with country produce, and we made this pay, too. After two more years, |
| 1:26.7 | we dissolved partnership, and I went into company |
| 1:29.1 | with Mr. Bates. We did a wholesale business. We went into the grain and flour and then packing beef |
| 1:36.0 | and pork in the West. I was lucky always. Well, I kept getting deeper and deeper into things and making |
| 1:42.7 | more and more money, till finally |
| 1:44.4 | some ten or eleven years ago, I drifted down here and took a hand with the boys. |
| 1:50.1 | That's the whole story." |
| 1:53.0 | He smiled broadly and winked his eyes, but he had skipped a little. |
| 1:57.1 | He had skipped about thirty years. |
| 1:59.6 | I called attention to it and he merely said it was of no consequence. It was not till about 30 years. I called attention to it, and he merely said it was of no consequence. |
| 2:03.8 | It was not till about 1870 that Mr. Sage began the novel methods of speculating with which his name is identified. |
| 2:11.6 | He originated the system of puts and calls and spreads and straddles, and now in a booming market, it is no uncommon thing |
... |
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