Skip to main content
Go to accessibility notice


    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.

    Auction Info

    Auction Dates
    February, 2006
    20th-21st Monday-Tuesday
    Bids + Registered Phone Bidders: 1
    Lot Tracking Activity: N/A
    Page Views: 429

    Buyer's Premium per Lot:
    19.5% of the successful bid (minimum $9) per lot.

    Sold on Feb 21, 2006 for: Sign-in or Join (free & quick)
    Track Item

    Heritage membership

    Join Now - It's Free

    1. Past Auction Values (prices, photos, full descriptions, etc.)
    2. Bid online
    3. Free Collector newsletter
    4. Want List with instant e-mail notifications
    5. Reduced auction commissions when you resell your
    Consign now
    • Cash Advances
    • More Bidders
    • Trusted Experts
    • Over 200,000 Satisfied Consignors Since 1976
    Consign to the 2021 October 9 Americana & Political Signature Auction Featuring the Michael Ward Collection.

    Learn about consigning with us

    I don’t often do testimonials but in this case I felt truly obligated to thank Heritage Auctions for the extremely professional job your organization did for me.
    Charlie K.,
    Pittsburgh, PA
    View More Testimonials receives more traffic than any other auction house website. (Source:

    Video tutorial

    Getting the most out of search