Russell Sage And Jay Gould Signing On The Same Stock Certificate

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1880, Texas. 11 ½" x 7 ¾". Stock certificate for 100 shares. Green/Black. Engraved vignette of cattle at watering hole. Issued to and signed on verso by Russel Sage (1816 - 1906). Banker; financier; congressman. As the originator of "put and call options", Sage greatly changed the way speculators played the stock market. Among America's most powerful and wealthy bankers, he financed Jay Gould and made a vast fortune on the latter's stock manipulations. "Sage was one of the shrewdest and most conservative of all great financiers." (DAB) At one time he is said to have had $27,000,000 out on call loans. At the time of his death he left a fortune worth an estimated $70,000,000. Also Signed as president by Jay Gould (1836 - 1892); Railroad magnate; Financier; Stock market manipulator. Gould began his rise by gaining control of a small Vermont railroad in 1860 at the age of 24. Over the next 10-15 years he made a fortune by buying and selling railroads and manipulating their stock. His most famous railroad battle came in the late 1860's when, along with Jim Fisk and Daniel Drew, he struggled for control of the Erie Railroad against "Commodore" Vanderbilt. Gould went on to become "the most hated man in America" when his attempt to corner the gold market caused a panic termed "Black Friday" in September 1869. Turning towards western railroads in the 1870's, he came to own or control numerous roads, including the Union Pacific and Kansas Pacific. It is estimated that he controlled about 10% of the railroad track in the U.S. by 1880. He went on to gain control of the Western Union Telegraph Company, and the New York elevated railroad. At his death, his fortune was estimated to be $72 million. Very light browning along top edge. A couple of small, light ink stains affect nothing. Paper thinning at top left near attached stub lightly affecting border. Stamp and punch cancellations, the latter affecting Gould's signature.