The times. [volume] (Washington [D.C.]) 1897-1901, 1900-05-01
NO SUMMONS FOR GATES.
He and Lambert UnmoIested on Re
turning to New York.


NEW YORK. April 30.--John ". Gates,
Chairman Of the board Of directors Of the
American Steel and Wire Company.
walked into his Office in the Empire Build
ing at 10 O'Clock this morning. and was
Immediately joined by general counsel,
Max Pam. and one or two directors Of the
company. They conferred for some time
and later a representative Of De Lancey
Nicoll's law firm was admitted to the
room. Not one word could be learned re
gardlng the conference.
Washington Seligman. Of Seligman &
Van Antwerp when asked about the stu
alton. threw up his hands deprecatiugly
and said: Not a word; not a word" Mr..
Lamb. o. Lamb & Voss. counsel for a COM
plainant whose name they have SO far re
fused 70 dlvulge, and who acted for Mr..
seIigman ia his first complaint against
Messrs Gates and Lambert, were not dis
posed to sGy word
De Lancey Nicoll. who has been retained
as counsel for MessIs. Gates and Lambert.
was reported TO have said that he would
make it hot for the accusers Of the two
wire men This morning John II. Bennett.
also counsel for Mr.. Cafes. said.
Mr. De Lancey Nicoll has notified
Messrs Lamb d Voss that Mr. Gates and
Mr. Lambert are here for the purpose Of
accepting personal service Of any sum
mons and will be al a certain place for a
certain time for service to be made upon
them
Just where this certain place" is was
not disclosed, but one Of the representa-
tives of the firm said that they expected
papers would be served during the day
T. ha ed HaI
officials Of the Steel and Wire Company
claim in their statements that their ac-
emulation OF finished products had be-
come hurdensome and that extreme meas
ures were necessary TO relieve them OF
surplus stock. They did not conf
said the firm. to having 'bulled prices
to abnormal figures through the period OF
extreme activity Of the market during the
winter They were instrumental conspicu-
Ousiy in raising prices TO plane TOO far iu
excess OF raw material The ordinary
method of reducing surplus stocks. as ia
we'll known is quietly disposiEg Of the
surplus 10 large buyers and distributors
for a consideration. and on terms hat are
mutually satisfactory IL is somewhat Of
a reflection upon the officials Of the Ameri-
can steel and Wire Company that they did
not pursue the usual method. Their mo-
tive continues to the public o mystery The
measure of that OF last year the business
of he week has naturally been less than it
would have been. owing to he remarkable
agitation i'm the iron trade. but there Is
every reason to believe that a fortnight
will find confidence restored and the trade
proceeding upon it's normal plane 10
healthy condition
private despatch from Philadelphia
quotes a director Of the steel and Wire
Company as saying
If Mr. Gates were not antagoni1ed he
might retire voluntarily as we were told
he intended to do this month but sub
jected to attack there is no telling what /
he may do For this reason ! have la
vored holding back and allowing him free
play to carry out his announced purpose T
TO retire.
This afternoon a report was current that .
no papers would Ue served. Pressure. it .
was said had been brought to bear upon
the new complaiHant-the client OF Lamb .
& Voss which had caused him 10 hesitate I.
before ne undertook to confront Mr. Gates f.
on the witness stand This pressure. it F.
was added came not from Mr.. Gates. but
from principals Of firms Of admitted in
nuence and prominence in the councils Of .
the stock exchange.
1t was announced this afternoon that .
the Steel and Wire Company had notified (
It's customers that no further reductions .
viii be made ON exported goods until Au-
gust 1.
Mr.. Lamb. counsel FOR Seligman. said
tonight
Mr. SellEman. after making his com
plant. was induced TO withdraw from the
matter Then fresh summouses were OBJ
aimed the complainant being member OF
a big firm Of stock brokers in this city.
This broker not only lost large sum OF
money himself by the maniDularons OF
Mr.. Gates. but he had induced his custo-
ners to invest, with the result that
number Of them were bitten. This man
VAS all ready 10 90 ahead but in some way
,is name became known to those who are
Interested in Mr. Gates and just after the
.unmonses we're issued he was summoned
~ his bank he and his partner and in
ormed that the bank did not want him 10
.puear in the prosecution.
You all know what the hostility OF a
,ank means TO q brokerage firm. Well my
lienr withdrew from the ease and that
uds the whole matter unless some other
complainant comes forward The sum
nonses will not be served and ] am
Trough with the matter, unless as / say,
ONE one else comes forward who has TIT
ourage to go ahead. -