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Russell Sage 1882 Put or Call Certificates for Western Union Telephone.

Currency:USD Category:Collectibles / Autographs Start Price:130.00 USD Estimated At:250.00 - 500.00 USD
Russell Sage 1882 Put or Call Certificates for Western Union Telephone.
SOLD
350.00USD+ buyer's premium + applicable fees & taxes.
This item SOLD at 2018 Dec 04 @ 13:27UTC-5 : EST/CDT
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NY. An uncut pair of the forms Russell Sage utilized in his brokerage business to trade puts (the right to sell at a specified strike price) and calls (the right to buy at a specified strike price). "RUSSELL SAGE" in the left end panel. Each form is for 100 shares of Western Union. The spread Sage worked on was 12%. A rare and important piece of financial history. Both are signed by Russell Sage. Both VF-EF, with pinholes. (From the John E. Herzog Collection)