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36-458: The first of the colleges to be established was Russell Sage College, which was founded in 1916 by Margaret Olivia Slocum Sage as a "School of Practical Arts". Russell Sage was always a comprehensive college, offering both professional and liberal arts degrees. It consistently been ranked in the top ten comprehensive colleges in the Northeast by U.S. News & World Report . A "Men's Division"

72-651: A Whig, and served, with re-election as an Oppositionist , from March 4, 1853, until March 3, 1857. He served on the Ways and Means Committee . Sage was the first person to advocate in Congress for the purchase of George Washington 's plantation, Mount Vernon , by the government. After retiring from politics Sage settled in New York City, where he engaged in the business of selling puts and calls , as well as short-term options known as privileges. He has been credited with developing

108-471: A clerk for John Bloodgood and Co. who happened to be in the office. Afterward Laidlaw sued Sage, alleging that he had used him as a shield against Norcross. Disabled for life, Laidlaw aggressively pursued the lawsuits, winning $ 43,000 in damages after four trials, but a Court of Appeals reversed the award. Sage never paid any settlement and was publicly criticized as a miser because of his great fortune. On January 23, 1840, Sage married Marie-Henrie Winne, who

144-448: A common president, Dr. Christopher Ames, and a common Board of Trustees; each college had its own academic dean. Due to declining enrollment and a high amount of debt, The Sage Colleges board of directors voted unanimously in March 2019 to merge the three colleges as one institution and rebrand Sage as Russell Sage College beginning in the fall of 2020. The Sage Colleges teams participated as

180-654: A financier. At the same time he saw the future of railroads, and secured stocks in western roads, notably the Chicago, Milwaukee and St. Paul Railway . He was president and vice-president for twelve years. By selling such investments, as the smaller roads were bought by major trunk-lines, he became wealthy. In his later years he was closely associated with Jay Gould in the management of the Wabash Railway , St. Louis and Pacific, Missouri Pacific Railroad , Missouri-Kansas-Texas Railroad , Delaware, Lackawanna and Western Railroad and

216-602: A fortune estimated at more than $ 63,000,000, to be used at her discretion. A former teacher, Sage strongly supported education, both with program and building grants to Syracuse and other universities. She established the Russell Sage Foundation in 1907 and founded Russell Sage College in 1916, as well as endowing programs for women. Margaret Olivia Slocum, called Olivia, was born in Syracuse , New York , to Margaret Pierson ( née Jermain) and Joseph Slocum. After

252-595: A large stained glass window as a memorial. Built in 1908, the church was located in Far Rockaway, Queens , where the family had a summer home. In 1907 she established the Russell Sage Foundation , and in 1916 founded Russell Sage College in Troy. In addition she gave extensively to the Emma Willard School and to Rensselaer Polytechnic Institute (RPI) in Troy, her husband's home town. In 1917, Russell Sage Dormitory

288-535: A member of the National Collegiate Athletic Association 's Division III . The Gators were a member of the Empire 8 . Men's sports (Sage College of Albany) included basketball, cross country, golf, lacrosse, soccer, tennis, and volleyball; while women's sports (Russell Sage College) included basketball, cross country, lacrosse, soccer, softball, tennis, and volleyball. This article about

324-667: A new board of trustees. Her greatest single gift was $ 10,000,000 in 1907 to establish and endow the Russell Sage Foundation . It commissions studies of social issues and recommends solutions. In 1908 Slocum Sage donated $ 650,000 to Yale University , enabling the purchase of the Hillhouse property for what was developed as the university's Science Hill . In 1909, Sage donated Holder Hall to Princeton University , named after her Quaker ancestor Christopher Holder . He had been persecuted in colonial Massachusetts for his religion. Two years later, Sage gave $ 300,000 to Cornell University for

360-446: A teachers' college. This independent project demonstrated her attachment to Syracuse, her identification as a teacher, and her commitment to women's education. In 1909, she donated $ 50,000 to Syracuse on her birthday. Sage became a patron of E. Lilian Todd (the first woman in the world to design airplanes) after seeing Todd's first airplane design at an exhibition at Madison Square Gardens in 1906. In 1915, Mrs. Russell Sage (as she

396-478: A university or college in New York is a stub . You can help Misplaced Pages by expanding it . Margaret Olivia Slocum Sage Margaret Olivia Slocum Sage , known as Olivia Sage (September 8, 1828 – November 4, 1918), was an American philanthropist known for her contributions to education and progressive causes. In 1869 she became the second wife of industrialist Russell Sage . At his death in 1906, she inherited

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432-466: Is of a Greek style and is intentionally unnamed. To the left of the memorial is a bench which contains a relief of Medusa on the center of the back, complete with snakes as hair. Olivia Sage devoted a major portion of the money she inherited from her husband to philanthropy, including buildings and other memorials to him. She commissioned Ralph Adams Cram , a leading architect, to design Russell Sage Memorial Church , and for Louis Tiffany to create

468-542: Is referred to in records) purchased the National Training School in Durham, North Carolina from Thomas A. Gorman. Gorman had previously acquired the school for $ 25,100. The institution, which is now known as North Carolina Central University, had originally belonged to Dr. James E. Shepard, who lost ownership due to debt. After buying the school from Gorman, Mrs. Sage returned control of the institution to Dr. Shepard and

504-669: The Civil War , Olivia Slocum moved to Philadelphia, where she worked as a governess for a wealthy family. She also volunteered in a military hospital . In 1869, at age 41, Olivia Slocum married 53-year old Russell Sage , a widower, financier and railroad executive. He was a cousin of Colonel Ira Yale Sage of the Yale family . They had no children. She became involved in activities defined by her role as his wife. In 1906, Sage died and left his entire fortune of about $ 70 million to Olivia, with no stipulations on how she may use it. Her philosophy

540-773: The Russell Sage Foundation in 1907 and founded the Russell Sage College for women in 1916. Sage was born at Verona in Oneida County, New York to Elisha Sage Jr. and Prudence Risley. His grandfather Elisha Yale Sr. was a construction contractor, and his uncle, Barzillai Sage, was the grandfather of railroad magnate Col. Ira Yale Sage of the Yale family . Through his granduncles Capt. William Sage and Capt. Nathan Sage, distant cousins included Princess Kay Sage , Admiral Francis M. Bunce , Cornell benefactor Henry W. Sage , and Senators Henry M. Sage and Josiah B. Williams . Princess Kay Sage , member of American royalty ,

576-708: The St. Louis - San Francisco Railway , for which he was director of the corporations. He also served as director for the American cable company, the Western Union telegraph company, and the Manhattan consolidated system of elevated railroads in New York City. He was a director of the Union Pacific Railroad , which was part of constructing the transcontinental railroad. Together with other major investors (and railroad pioneers of

612-893: The Panic of 1837 and the decline of canal traffic following construction of railroads across the state, her father's businesses and warehouses began to fail. Despite her father's financial struggles, Olivia was educated in private schools and graduated in 1847 from the Troy Female Seminary (later called the Emma Willard School , a preparatory school). Olivia Slocum supported herself by teaching for 20 years in Syracuse, New York , where she lived with her parents, and in Philadelphia . Her father continued to struggle and in 1857, fatally ill with tuberculosis , sold their family home in Syracuse. Olivia and her mother had to move in with relatives. During

648-509: The construction of a women's dormitory, Risley Hall , named after her mother-in-law. Her promotion of women's education also included funding the construction of the Olivia Josselyn House in 1912, named for her grandmother, at Vassar College , a women's college. In 1912, Sage acquired Marsh Island in the Gulf of Mexico , dedicating it as a refuge for birds and other wildlife. She gifted

684-758: The development of Russell Sage Laboratory. This was the base of Rensselaer's Department of Electrical and Mechanical Engineering. Sage also contributed to the National Training School in Durham, North Carolina (now North Carolina Central University), founded by James E. Shepard for black teachers and affiliated with the Chautauqua movement. Up to 1915, the sum total of Sage's gifts surpassed $ 23,000,000. de Forest, Robert W. "Margaret Olivia Sage, Philanthropist." The Survey 41, 1918, 151. Russell Sage Russell Risley Sage (August 4, 1816 – July 22, 1906)

720-711: The development of the Russell Sage Foundation Homes in 1919, a suburban community at Forest Hills Gardens , Queens . In addition she gave extensively to the Rensselaer Polytechnic Institute (RPI) and the Emma Willard School , both in Troy. These contributions included funds donated by Sage that supported major improvements on Rensselaer Polytechnic Institute's campus: construction of the Russell Sage Dining Hall in 1916, named after Sage's nephew who graduated in 1859; and $ 1,000,000 for

756-765: The following of $ 1.6 million each: the Emma Willard School, the Woman's Hospital, the Children's Aid Society, the Charity Organization Society, the Metropolitan Museum of Art , the American Museum of Natural History , and Syracuse University. She also provided large donations in her will to a variety of churches, missions, and other religious causes. By her bequest, Sage donated $ 2,750,000 posthumously for

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792-527: The funds. She named the library in honor of her grandfather Major John Jermain , who fought in the American Revolution . The library was designed by Augustus N. Allen ; she presented it in 1910 as a gift to the people of the village. The land cost $ 10,000, and was directly across from Sage's summer home on Main Street. Olivia Sage's summer residence for many years in the village was later adapted for use as

828-591: The island to the state of Louisiana in 1920, which continued the preservation of habitats and wildlife. In 1916, Sage founded Russell Sage College in Troy , New York as a comprehensive college for women. The college is located within what has since been designated as the historic district of Troy, an area that is listed on the National Register of Historic Places . RSC offers liberal arts and professional degree programs. Financing to build Pierson Middle-High School

864-574: The market for stock options in the United States and inventing the "spread" and "straddle" option strategies , for which he was dubbed "Old Straddle" and the "Father of Puts and Calls." He used the options to synthesize loans at a higher interest rate than state usury laws allowed, for which he was convicted in 1869 and fined $ 500, with a suspended jail sentence. Sage bought a seat on the New York Stock Exchange in 1874, and became known as

900-623: The nineteenth century), he made a fortune. He was a director and vice-president in the Importers and Traders' National Bank for twenty years, and also a director in the Merchants' Trust Company and in the Fifth Avenue Bank of New York City. Following the collapse of the Grant & Ward scheme in 1884, Sage faced a run from holders of put options that he had sold. He honored all demands but withdrew from

936-476: The sale of options soon afterward. In 1891, Henry L. Norcross entered Sage's office in a six-story 1859 brownstone office building at 71 Broadway in Manhattan , claiming he needed to discuss railroad bonds. Norcross gave Sage a letter demanding $ 1,200,000, which Sage declined to pay. Norcross was carrying a bag of dynamite, which exploded, killing Norcross, wounding Sage, and severely wounding William R. Laidlaw Jr.,

972-696: The town's Sag Harbor Whaling Museum . In 2017, in honor of the 100th anniversary of women receiving the right to vote in New York State, the William G. Pomeroy Foundation gained approval for installation of a historic roadside marker outside Sage's former Sag Harbor home to acknowledge her contributions to the suffragist movement. The historian Ruth Crocker has studied how Sage provided in her will for distribution of more wealth: her legacy had fifty-two equal parts. Nineteen named educational institutions received one part, or about $ 800,000 each. She made larger bequests to

1008-422: Was 15. He started as an errand boy in his brother Henry's grocery in Troy, New York . He had a part interest in 1837–1839 in a retail grocery in Troy, and in a wholesale store there in 1839–1857. In 1841, Sage was elected as alderman in Troy. He was re-elected to this office until 1848, while also serving for seven years as treasurer of Rensselaer County . He was elected to the U.S. House of Representatives as

1044-467: Was also known as "Maria Winne". They had no children. She died on May 7, 1867, of stomach cancer. In 1869 at the age of 53, Sage remarried, to Olivia Slocum (1828–1918), who was ten years younger. Sage was known to have affairs outside marriage both before and after the death of his first wife. The writer Paul Sarnoff suggested in his biography of Sage that he may have remarried for appearance's sake, and may never have consummated his second marriage. Sage

1080-476: Was an American financier, railroad executive and Whig politician from New York , who became one of the richest Americans of all time. As a frequent partner of Jay Gould in various transactions, he amassed a fortune. Olivia Slocum Sage , his second wife, inherited his fortune, which was unrestricted for her use. In his name she used the money for philanthropic purposes, endowing a number of buildings and institutions to benefit women's education: she established

1116-491: Was encapsulated in her article, "Opportunities and Responsibilities of Leisured Women", including "helping the unfortunate by providing them with a good environment, opportunity for self-support and individual responsibility, and protection from the unscrupulous." Mrs. Sage donated Constitution Island to the federal government as an addition to West Point . In 1905, Olivia Sage told Syracuse University that she would purchase Yates Castle and its surrounding property to house

The Sage Colleges - Misplaced Pages Continue

1152-464: Was established during World War II , and the first graduate degree was conferred by the college in 1942. In 1949 the "Albany Division" was founded as a second, coeducational campus, offering associate, bachelor's and master's degrees. In 1957 the two-year program, under the name "Sage Junior College of Albany", was granted authority to offer its own degrees. In 1995, the Sage Graduate School

1188-469: Was gifted by Sage. It was named for her maternal ancestor Abraham Pierson , one of the early European settlers of Long Island. The school was completed in 1908 at the cost of $ 102,000. Olivia Slocum Sage regularly spent her summers at a house in Sag Harbor, New York , a former whaling and fishing village on eastern Long Island. She organized the effort to build a library in the village, and donated most of

1224-506: Was given permission to grant degrees independently, the Sage Evening College was recognized as a separate educational entity, and the four elements of Sage were rechartered together as The Sage Colleges. In 2002 the two-year college and the evening college were subsumed in a new four-year college of professional studies, Sage College of Albany. The three colleges, all part of the corporate institution The Sage Colleges, were governed by

1260-448: Was related by marriage to the Agnelli family , founders of Fiat S.p.A. and owners of Ferrari , with family members including Donna Virginia Bourbon del Monte , Princess Clara von Fürstenberg , Senator Giovanni Agnelli , minister Susanna Agnelli , and Italy's richest man, Gianni Agnelli of Villa Leopolda . Sage received a public school education and worked as a farmhand until he

1296-517: Was reported to have had a child by a young chambermaid. Sage was a member of East Presbyterian Church on West 42nd Street between Fifth and Sixth Avenue, which later merged with Park Presbyterian to form West-Park Presbyterian . In 1906 Sage died and left his entire fortune of about $ 70 million (~$ 1.78 billion in 2023) to his wife, Olivia Slocum Sage. He was buried in a mausoleum in Oakwood Cemetery in Troy, New York. The mausoleum

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