Description

    American Financier Russell Sage Autograph Letter Signed by the Inventor of the Stock Market "Put" and "Call" Orders. Measuring 7.75" x 9.75", in fine black ink on off-white paper letter paper. Very Fine but for one light yellowish stain near edge that does not detract. Dated Jan. 27, 1854, written from the U. S. House of Representatives to influential New York politician and journalist Thurlow Weed. Sage (1816-1906) was associated with Jay Gould in many stock market operations, and is significant for his invention of "puts" and "calls" which form the basis of options trading. But this letter is purely political, and has important content relating to the Kansas-Nebraska Act and the Missouri Compromise. He writes in part: "...the speed of Smith of Virginia yesterday has caused a deep sensation with the NY Hards and Softs...the Hards can be induced to a man to vote against the Abrogation of Repeal of the Missouri Compromise. is this not best for us as a party for the future?" He offers to see "Coswell and other such Hards as you deem necessary" to lobby. Sage is particularly scarce in ALS form, particularly with such nice content. Accompanied by LOA from PSA/DNA.

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    Auction Dates
    February, 2006
    20th-21st Monday-Tuesday
    Bids + Registered Phone Bidders: 0
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