New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-04-08
JOHN ". GATEs'S BIG PROFITS
THE CHICAGO OPERATOR SAID TO BE g. ooo
600 AHEAD BY REASON OF THE RISE
IN STOCKS

John W. Gates chairman of the Board of the
American Steel and Wire COMPANY is credited
with being much richer a result of the recent
rise IN Baltimore and Ohio stock and also in Union
Pacific. as we'll other securities in Wall
Street. in which Mr.. Gates is Interested Close
friends Of Mr.. Gates say that his profits run into
the millions. In fact, his secret ary wrote to A
New-York paper yesterday to say that M Gates
was about S4oo0oN ahead as a result of rise in
prices IN stocks in which he is interested Friends
OF MI Gates. when at the waldorf Astoria
yesterday, said that this figure was somewhat ex-
aggerated, but that there no doubt Mr. Gates
had made great deal Of money lately
II viii be recalled that a short time ago big
game OF poker was played at the WaIdorf-Astoria
in this city. The players We're nearly all Chicago
men, and in the game were John W. Gates Joseph
Letter jr, Colonel Elwood and others It is said
that in the course of this game Mr. Gates lost
S-So'V'o mis- report was published a the time
The writer of the letter printed Yesterday Mr.
Gatess secretary who took the trouble to set forth
the enormous winnings of Mr. Gates said that he
did SO because the papers had widely published
stories about Mr. Gatess losses which he added
were pure fiction. and he thought thew should also
print the truth about his winnings
John w Gates is perhaps the best known of the
HhahclaI operators of Chicago. He is as we'll
known in the Chicago market as ne is in Wall
Street He is credited with having pricked the bub-
bic which Joseph Letter blew TO such tremendous
proportions in his late corner on wheat. Mr. Gates
IS SAID 10 have made great deal of money when
4~SlNGi S44d MS wheat corner smash. He
was one of the orlglnators and put through the
great Federal Steel organization, and is said to
nave made great deal of money out of that He
next turned his attention the formation of the
American Steel and Wire Company and is believed
10 nave added greatly TO his wealth by this He
recently started In TO plunge on Baltimore and Ohio
and Union Pacific, and the lines he carried are said
20 HaEe staggered even the biggest operators in
the Street He is credited with being a huge winner
on ms turn, and now is looking for other
field TO conquer.
Nj Gates, among his friends is socable and cor
plg stakes. ard whether il is in Wall Street or at
the gaming table or in any enterprise. he is re-
garded as a man who always goes the limit and
TINS time he IS said to have had another eXCep-
uonaIly fortunate experience which than
makes even for the recent losses poker.
yesterday at his office in the Empire Building.
seemed chaErined the fact that his letter had
been published. He ssad:
1t was d betrayal of The trust I repOsed in news
papers. ! think II is nasty journalism. The fact
IS. l have never seen any Journalism like it. When
important piece of information and that when they
took much interest in that poker story the fact
that Mr. Gates had made very large amount in
Baltimore and Ohio and Union Pacific ought also
he interesting Il them: but 1 see why
they published my letter.
Did Mr.. Gates know that you going to
write such letter or did he authorize ycu TO
write it?' asked.
why. 1 haven't Mr. Gates in
Where is Mr.. Gates?"
Il don't where he is just I really
can't say.
DETECTIVE HELPS ALONG A ROMANCE.