The Montgomery advertiser., 1902-06-21
JOHN W. GATES, Wso vns grs slex siassnaa isis am TIE pr JINrCD Unwelcome Wall xuE LUNUkN Street Factor
UnWelcOTne
Street Factor

Branch of Chicago establishment which had long handled the commissions of the steel crowd. The manipulation of these
 eHt TSs Tsp' steel .9ee crpowd coined money while the outsiders lost 1t. At first New York refused to take the Westerners se- riously. and everybody bought Steel and Macs Mss t,onai an,eR Ssst, turn ana s'''' nyV When % every % man had his load the steel stocks tumbled ten. twenty thirty points: Then Gates and hi. crows quietly ,l ana T around and % held or, i, until the United | States Steel Corporation was formed, when they disposed of their holdings on terms that made many of them million
 That stupendous deal made the fame of | Gates. Attention has never been divert | ed from him since. He became marked man. He established following that will | whenever he gives the word. All the ] world loves a winner. Gates Is a win | ner. He likes to see others make money.
 and never refuses to tip off good fei- | low.
 Twenty Years for . Million. Beneath his breezy Western style, his devii-may-care gabble. hts bonhomie, there turks 2 shrewdness such as only He has had hard knocks. It took him twenty years to save q 900 roo. Today he | has S12 10000. He has trained with merry crowd. of the highest rollers % the in. ins bi~ men in steel The manufacture of rails, wire, tubing, etc.. appears to en-
 large capacities for having fun as well
 as tor carrying on business. The s1eei
 without seriously interfering with legih- mate business than any other crowd on earth. And Gates has been recognized | leader of this crowd.
 l GotA haa innuence
 speculation that traders make use of his name to boom or depress stocks This is | the gauge by which . man Is judged in
 Mss, ,ns '!Tsfs, wSo i. IS tS. % chap ass..r year ago it was, Do you really think Gates
 knows anythingr' Today the alarm goee
 forth--"Gates Is buying steel" All the
 The Windsor Hotel was for years the
 evening headquarters of leaders of finance
 and speculation. William H: Vanderbilt. Addison Cammack. Jay Could. James R.
 When 1t was destroyed by ire the Wall Streeters, such as were left, moved to
 Delmonico's Twenty-sixth Street place;
 When the Waldorf-Astoria was built ana Street, far out of range, the financial element camped in the hostelry Of Herr
 Boldt. Gates lives there when in' New
 York. and creates sufficient n inderesS dir,r9 ,e
 rooms. He has made some of the wait CTS rich.
 To illustrate his influence One night
 he was chatting with Charles M Scnwa9 9 of Peacock Alley" It Is not necessary to tell what they talked of. It may have been a reminiscence of poker at Ellwood.
 in 't colorado Fuel ani Iron. The shares
 rose 10 or 12 points. Wherefore? Because Gates being seen in the Waldorf Astoria: chatting with the president Of the steel fA A dicker with Schwab to turn the Colorado Fuel and Iron Company to the steel trust at tremendous advantage.
 Most of Gates great successes on Wal Street have been accidents. He was
 dead wrong" on Northern Pacific, losing A million and a half. In the Louisville and Nashville deal he was the creature or
 conditions that he did not know existeo His intention was to make quick turn | In the market, to buy something antrln-
 sIcaiiy good and sell It again at a pront To his own amazement he found himseit
 nsarIy ne p'I gave him stage fright. It would have given a more excitable man heart
 drank two quarts of wine and ate rs three
 ments." It was a matter of importance
 to the market that MT. dates should not be embarrassed. The conservatives re. lieved him of his load. giving him pront
 Gates chief interest in life just now Is to push to the front his strapping son. He himself having achieved and arrived 1t is now his pleasure to see that Gates l IT.. makes a noise in the world. The | young man is much taller than his fath- | CT. but not so big around. Wall Street is beginning to keep an eye on him.
 Gates goes abroad each year. His tours
 of the continent usually make an i'm. precision He always travels first cabin, l as the saving is. His rooms at the wal dorf-Astoria cost him $500 week. His | favorits game is not ping-pong or bridgo | and he spends no time at church He | dresses as we'll as a professional gambler
 and Is not blind to his own importance. | Presently he will start racing stable, | when the betting ring Will nave 10 go | out of business Gates killng VIII mean the death of numerous bookmakers. l If has been published broadcast that l. Pierpont Morgan had Gates billed | at the New York Ytcht Club and mat August Belmont had a hand in the piillng. 1 Gates denies that there Is any fr1ctton between him and those two gentlemen. AS he has made millions out of Morgan l and relieved Belmont of the Louisvalie
 and Nashville Railroad. he can anord to
 let bygones be bygones.
 1 Gates is one of the few steel men Wno have not built palaces in upper Fifth Av.
 enue He lives in Chicago. He Is in Wall
 Street for fun James R. keene is there ! for business That is the difference De-
 tween the two kings of the ticker MT.
 Keene believes in basic condltfons' Gates
 believes in taking nyer r,,. 1 Gates is a typical product or tne Wiu
 West. As an infusion he makes the wal 1 Street blood boil.