Los Angeles herald., 1905-02-21
PROMISES NOT To
CORNER SUNSHINE
JOHN W. GATES INTENDS ONLY
TO a SoRB WARMTH
ltl-MlIlIonaire Now Visiting In Los
Angeles Appears Little Con-
cerned Over Affairs In
Chicago Wheat Pit

John w. Gates, multi-milionaire,
successful speculator and steel trust
magnate, who is also noted along with
his other accomplishments as the man
who broke the bank at Monte Carlo,
arrived in Los Angeles yesterday over
the Southern Pacific in his private car
President. Mrs. Gates accompanied
her husband.
AS soon as possible the celebrated
speculator started to corner the hotel
accommodations of the city and sue
ceeded to the extent of getting an ex-
pensive suite of rooms at the Van
Nuys hotel.
Mr.. Gates is not here with the idea
of absorbing. all the California sun
shine and climate i'm sight and syndi-
eating 1t at the best possible price.
According to his own statements he
and his wife are here simply to get
their share of the good things which
the country offers and let the rest take
care of itself.
Visits Ascot Races
Although he is engaged in what is
possibly the biggest gamble ever in
dulged in by men of modern times
that of cornering the worlds entire
output of wheat-Mr. Gates could not
overlook a chance to indulge in some
present form of speculation, so yester-
day afternoon went out to Ascot park
and took a chance at picking the win
ners of the races. 1t was mere child's
play for Gates, for he bet but a few
thousand during the afternoon and as
consequence did not boast of the
corner he made on uncashed book
makers tickets.
The big deal in Chicago, If sue
cessful as it's manipulation is sure
it will be, is not worrying the steel
magnate in the least. "Why should
worry about something that is sure to
come out as L want it to?" said Mr.
Gates last night when asked about
the big wheat deal my lieutenants
in Chicago have my orders, and they
know just what to do. Besides" he
continued, there's only a few million
in the thing anyway, and it's more for
glory than gain that 1 am sending it
through"
Mr.. Gates wouldn't corner Los An
geles sunshine and ozone If he could,
at least he says he wouldn't. II am
glad 1 came out here at just this time,"
he said, for it certainly feels good to
get out in the air and enjoy oneself.
1 don't know whether to ship a few
carloads of ozone back to my home
or stay here awhile and get the benefit
Of it, but whatever 1t is 1 won't hurt
the country any,"
"No Business" He Says
Any idea of being here on business is
repudiated by Mr.. Gates as being be-
meath his notice. The local stock ex-
change looks like picture of one he has
in his back yard at home and as there is
no Monte Carlo this side of Mexico
Mr.. Gates does not see just how he
can combine business with his pleas
ure. The spots in which the specula-
tors congregate will not be visited by
the big man and the only chances he
Will ldht Ill Tie llIlt VI GlIlleT
ishing his spending money or adding
thereto will be at the races.
Mr.. Gates has not decided on the
length of his visit here. He will put
in his time seeing the southern portion
OF the state, and if things go right on
the Chicago stock exchange will prob
ably be here more than a month. In
order to interest some of the native
sports Mr.. Gates is thinking of getting
up a poker party which will take
900 or so to draw cards, but if this
scheme falls through the steel trust
man will be forced to play solitaire
and bet million or so with himself
on the result of each game.