History of DeRuyter, (Madison County) New York United States of America

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Lyman Judson Gage, cabinet officer, was born in Deruyter, N.Y., June 28, 1836; son of Eli A. and Mary (Judson) Gage; grandson of Justus Gage, and a descendant of Thomas Gage who came from England about 1640, and settled at Yarmouth, or Cape Cod, Mass. His parents removed to Rome, N.Y., in 1848, where he attended the academy and in 1852 left school to take a position in the Rome post office. He was later appointed route agent on the Rome and Watertown railroad. In 1854 he became a clerk in the Oneida Central bank of Rome, and in 1855 he went to Chicago, Ill., where he worked in a lumber yard, but failed to find permanent employment till 1858, when he became book-keeper in the Merchant's Saving Loan and Trust company of Chicago, Ill. He was promoted teller, assistant cashier and cashier, and in 1868 he transferred his services to the First National bank of Chicago as its cashier. On the reorganization of the bank in 1882 with a capital of $3,000,000, he was made vice-president and general manager, and in 1891 was elected president of the bank. He was selected by President-elect McKinley as secretary of the treasury in his cabinet in February, 1897, and on February 15 he resigned his position as president of the bank, and was appointed secretary of the United States treasury, March 4, 1897. His nomination was confirmed by the senate, March 5, and he at once entered upon the discharge of his duties. He was president of the American bankers association for many years; president of the local board of directors of the Columbian exposition, 1893; president of the Civic federation of Chicago; director and treasurer of the Art institute, and an officer of prominent clubs in that city. He was married in 1864, to Sarah, daughter of Dr. F. B. Etheridge of Hastings, Minn. She died in 1874. He was married June 7, 1887, to Mrs. Cornelia Washburn Gage of Denver, Col. Beloit college conferred upon him the honorary degree of LL.D. in 1897.

From: Twentieth Century Biographical Dictionary of Notable Americans, Johnson, Rossiter, editor

History of DeRuyter, (Madison County) New York

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