The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-05-11
STEEL IND WIRE CHANGES
JOHN w. GATES RETIRES FROM
THE MANAGEMENT OF THE
BIG COMPANY
PRESIDENT LAMBERT IS OUT
New Officers Chosen, md a State
ment Given to the Public by
the Directors ExOnerating
Mr.. Gates.

NEW YORK, May 1O.-Changes of a
sweeping character in the affairs of the
American Steel and Wire company were
made today at a meeting Of the board of
directors John w. Gates resigned the
chaTmanship of the beard of directors,
and is now on his way to Europe. He is
succeeded by Alfred II. Clifford, of Chi
cago. John T. Lambert, the president of
the company resigned In favor of VIII.
lam P. Palmer. Isaac l.. Wood resigned
as chairman of the executive committee,
and his place is taken by William Eden
born. The office of treasurer, made va.
cant by the elevation of Mr. Clifford, is
filled by the election of F. Lembon
Henry Seligman and Frederick Strauss.
both Of this city, who resigned from the
directory last Monday, because of theil
opposition to Mr., Gates and his policy,
are succeeded by Randall Morgan, of
Philadelphia, and Herman Sielcken, OF
New York. Mr. Morgan is vice president
of the United Gas company, of Phila-
delphia, an active business associate Of
Thomas Dean, also of Philadelphia, who
is director of the American Steel and
Wire company as well as a member Of
the executive committee
Mr.. Morgan's elevation to the BOARD of
directors is taken as an indication that
MIR. Dean and Mr. Gates have settled
any differences that may have existed
between them. MIR. Sielcken is in the
coffee business in this city. All the new
officers and directors elected are said tc
be i'll sympathy with Mr.. Gates policy
DIRECTORS STATEMENT.
Following the meeting Of the directors
a statement regarding the changes was
given out. 1t starts with Mr.
Gates resignation. II says that he had
lUi.S cUnIeIiip Ted refinement, and would
have retired May l, but for the present
controversy. 1t justifies his action in
closing the mills three weeks ago, and
protests against the false charges and
vllifcation that have been heaped upon
him, based upon an alleged interiew. MIR
Gates declared that he did not, as al
legged discuss the affairs of the American
Steel and Wire company. He said:
Il never sold the stock of this COM
pany, excepting that what l owned, and
l an today a large holder in its Sc
curities, and members of my family are
holders of substantial quantities OF this
stock. Now that these charges have
been dispersed and disproved, and that
accusations have been found to be I'M
founded, l feel that it is my duty to
take the vacation determined upon a
year ago, particularly as l have been
appointed by the governor of the state
of Illinois to represent that state as it's
commissioner at the Paris exposition, 1
therefore tender my resignation as a
director and desire to be relieved from
all further participation in the manage
ment of the affairs of the company"
The statement says that nothing has
developed regarding Messrs. Gates, Lam
bert or Elwood that would take them
out of the management of the company,
and it was only al their solicitation that
their designations were accepted, respec-
lively as chairman of board of directors,
president and chairman of the executive
committee. The statement says:
1T has been further determined that
the directors of the company will meet
monthly hereafter, and those meetings
Will probably be he'd in New York city,
SAYS MIR. GATES FLED.
j. Alfred Lamb, whose charges aginst
Mr. Gates were dismissed by Magistrate
Seeley on Wednesday, today gave out
this statement after he heard of Mr..
Gates departure:
Mr.. Gates came to this city with the
expressed intention of fighting the
charges brought against him to a finish,
and of inficting punishment upon his
accusers, especially upon any one who
dared to prosecute him. The evidence
brought out promised more developments
than Mr.. Gates desired to face, and, act
ing probably upon advice of his fell
low directors and eminent counsel, he
has taken advantage of the first techni-
cal opening to leave the country"