The Washington times., 1906-01-27
GATES DISCUSSES
RATE REGULATION
FaYOrs Interstate Commerce
Commissions Bill.
CONFIDENCE IN CONGRESS
Does Not Believe Measure Will Be
Passed-Calculated to Injure
the Roads.

II really believe the Interstate Com
meree Commissions railroad rate regu-
1atiO> bill is the proper kind of 4 bill
for our Congress TO adopt.
Il think the commission, if given the
authority outlined in the bill would
successfully handle the important dues-
tion of adjusting or fixing railroad rates
TO the satisfaction of all concerned"
These statements were made today by
John W. Gates. the millionaire steel
magnate and turfman, TO a Times re-
porter. Mr.. Gates followed the state
ment by saying that he did not believe
that Congress would pass any rate bin
other than what the railroads wanted.
''Some kind of a measure will be
adopted, but il won't be antagonistic TO
railroad operators" he said.
Mr.. Gates has been in Washington for
several days looking over the financial
field here, preparatory to the opening of
the Gates branch in the AIunsey build
ing next week.
The branch will be under the direct
mana cement Of Charles c. Gates. bat
II will not have much bearing upon the
local financial market. Dealings through
New York exchanges will constitute the
bulk Of the business done. The senior
Gates viii devote his time to bringing
about, If possible, the Incorporation OF
all the Southern steel companies with
the Illinois Steel Corporation. Mr.. Gates
was president Of the latter organization
for several years. and is now one of its
heaviest stockholders.
Competition of Trust
If the plan he has in mind can. be
realt zed. it is said the gigantic Steel
trus- viii be confronted with formid-
able competitor in the new organization
Outside of steel. Mr.. Gates does not take
an active interest in the market He,
however. follows it closely.
Aside from his business interests the
genial New York and Illinois million
aire has an optimistic view of the ques-
tions now confronting the American
people. He is a great admirer of Chair
man Shonts OF the Tsthmian Canal Com
mission. and says that - the T'red tape"
was eliminated from the affairs down
there we would have a canal suitable
in every way 10 the needs Of our COM
merce in much shorter time, and with
in a reasonable expenditure OF money
than we can hope 20 have If the appli-
cation OF the general custom prevails.
OOOQ IOI commerce.
''''he waterway viii be a grand thing
for our commerce with South America
and should increase our trade with tbs
Pacific coast countries Of Asia" he said
today. Its a gigantic undertaking but
American push and ingenuity viii solve
the problem"
Outside Of his financial connection Mr.
Gates takes much interest in horse rae
ing, Practically all his spare time is
spent in keeping in touch with the
sport OF sports" II enjoy a good
race he says. and occasionally go out
10 the track 10 see the thoroughbFeds
battle for honCrs. I like the game and
think II should be enCOura ged- It's
a fine way TO get rest and recreation
from business cares. AS a golfer Mr.
Gates is also an enthusiast and holds
a membership in many of the leading
clubs of the United States.
Mr.. Gates will leave Washington to-
morrow morning for his home in New
York. He viii spend much OF his time
here during the next two or three
months. IL is expected that several new
members will be taken into the Gates
firm Immediately after he il gets start
ed here,