The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-05-09
Whom the Gods Would Destroy.


The directors of the American Steel
and Wire Company must have taken
leave Of what senses they formerly
| had. The one assumption which saved
to them shred of credit after the
recent performances of John w. Gates
was that they were ignorant This
was reinforced by their action in re-
scndng his orders and re-opening the
market, by a reduction of the prices
which he had forced to point as dis
astrous to the trust as 1t was injurious
to the public. 1t was understood ev-
erywhere that the directory were not
in sympathy with Gates, and that his
connection with the concern would be
severed Immediately.
Instead of that, it appears that Mr..
Gates is bigger man" than the
board of directors. Two Of the latter
have made public their designations.
which are explained by the fact that
MIR. Gates still remains in charge Of
the trust. They say that they have
continued in the directorate until the
present only because they were as
sured that Mr.. Gates would retire.
They now realize that they cannot
force this, and they are unwilling,
properly enough. that their names
should be connected for another day
with an enterprise Of which he is the
ruling spirit
This action is highly creditable to
mainder of the board must belong to
the class of those whom the gods would
destroy. There Is but one opinion
throughout the country Of the sort Of
work of which Mr.. Gates has been
| guilty. He Is accused everywhere OF
| having manipulated the affairs OF the
American steel ana Wire Company in
! order to take advantage of the mar
| ket. For this were the misrepresenta-
| tons of the industrial condition, the
sudden closing OF mills that threw
| thousands of people out of employ
ment the arrangement of a great
| trade. There is, perhaps. no direct
| proof of it, but 1t is significant that,
| about this time, Mr.. Gates should have
| forgotten to deposit a check for
| s., zoo, 900 until reminded OF II by the
bank. Even commercial authority
| as discreet and temperate as Brad
| streets scores Gates and his conduct
without mercy.
To remain connected with this man
| commercially, or with concern that
is under his management, should settle
the reputation OF any business man.
To retain him at It's head should settle
| the future OF the wire and nail trust.
1t must reflect upon 1t doubly; from
| the side of the public and from that
of the stakeholder. No prudent man
| will hold one dollar of the securities Of
| an enterprise so conducted. For II
It is worth no more than the chips
used in playing a gambling game. No
| dealer In wire and nails will buy OF
| such firm, except enough to last on
the hand TO mouth system, because ne
does not know what will happen 10
prices twenty-four hours ahead.
| 1t Is rare chance for the competitors
| Of the American Steel and Wire Com
pany. II they take advantage of g,
| they should be able to capture the
trade OF the country. For here is one
trust that has shown Its mad lnsensi-
bnity to public opinion, Unless we are
| greatly mistaken the consequences viii
not be postponed for long. The man
agement cannot afford to ignore the
facts that have been made public. or
the strong feeling that they have
evoked. Neither as an industrial fac
tor nor as an undertaking whose finan-
cial side requires some degree Of public
confidence can any trust afford 10 take
! this position. The sure effect will be
more deadly than all the hostile legis-
latlon that the bitterest enemy Of
monopoly could contrive.
The Seattle Daily Times has just Is
sued a handsome little souvenir book
entitled Seattle and the Orient" 1t
is edited and compiled by Mr.. Alfred
d. Bowen. with an Introductory article
on the past and the future of Seattle
by Col. Alden J. Blethen. 1t contains
a large amount of interesting and use
ful information relating to the city. its
Industries and its trade. especially with
the Orient, together Win sketches OF
local Institutions and prominent citi-
| zens. 1t is embellished with many