davidaulloa/AmericanStories huggingface dataset:
The Spanish Fork press. [volume] (Spanish Fork, Utah) 1902-current, 1907-05-30
JOHN w. GATES IN
MANY WAYS TRUE
TYPE OF AMERICAN
Few of the Striking Episodes in the Life Of the Great
Plunger WI Has Raksd In Some of the Biggest Jack
pots Kin own to the World of High Finance Has Had
Many Years of Unyar ying Success.

New York--John W. Gates. the
Host picturesque plunger who ever
rose to fame and fortune In Wall
street, has leased a great hunting pre-
serve in France, and is winding up the
business of his House of Twelve
Partners" He is through with Wall
street, writes Frank Fayrant in the
Times. When a market operator of
his prominence quits the speculative
game Immediately after a disastrous
panic In the market ii Is but natural
for the gossips of the street to say.
They've got him at last" Ever since
Gates began swinging big lines Of
stock in bull markets and running
afoul of men of great power In Wall
street the denizens of the street have
shook their heads wisely and said:
They'll get him some day" During
the panicky days of March, when the
rumor mongers were telling of the
huge losses piling up against wealthy
operators, they were sure that the
House of Twelve Partners" was in
deep water. And now that the famous
house, that in big markets has carried
at times $125, 100000 worth of stock
on margin, Is going out of business,
the rumor mongers are saying az
told you SO"
But John w. only smiles and says:
81 wish they were all as comfortably
fixed as | am His friends say that
he began trimming his sails last win
ter when stocks were selling at sky
prices. and that when the storm broke
In March he had all his reefs in.
They say that he actually bought
stocks during the panicky days of
March, and that banks were carrying
millions of dollars of free cash for
him when some very wealthy men
were lying awake nights wondering
how they would make their bank bal
ances good the next day, His friends
think that he is worth at least $25 ,000,-
600, and perhaps good deal more.
SO John w. isn't exactly broke
6arbed Wire the Beginning.
1t was in barbed wire that Gates be-
gan to build his fortune Gates was
poor farmers boy out west His
first business venture was contracting
to husk neighbours corn. From the
money he saved out of this work he
made his first speculation. He bought
a third interest in a threshing ma
chine that came rafting across the
prairie after the harvest The old
farmers shook their heads at this. for
1t was a tradition that the threshing
machine man usually came to finan-
cial grief. But it was a year of bump
Ell crops, and threshing proved SO
profitable that before the winter came
The Spanish Fork press. [volume] (Spanish Fork, Utah) 1902-current, 1907-05-30

and formed barbed wire trust. THIS
was the nucleus of the S9o.ooO,OOO
American Steel C Wire company now
mart of the steel corporation. the
Trst big fotation engineered by Gates tes
was the Federal Steel, $lOO.OOO,OOo
corporation That was in September
sos at the beginning of the great
steel boom following the Spanish
American war. He followed that win
tho American Steel & Wire, with 800
ACC 600 capital four months later the
manner in which Gates and Ellwood
brought out this company is character,
istlc Of the man. On telephone call
from Pittsburg they jumped across
pennsylvania and bought a wire mill
at sharon; then they went to CleVe-
land and bought a $5,OOO.OOO rolling
mill. and the next day they were back
The Spanish Fork press. [volume] (Spanish Fork, Utah) 1902-current, 1907-05-30
NOTICE OF ASSESSMENT NO. 10.

The Blizzard Mining & Milling com
pany, principal place of business at
Spanish Fork City, Utah county, Utah.
Notice Is hereby given that at a
meeting of the directors held ON the
9Th day of May, 1907, an assessment of
one Cd mill per share was levied upon
the capital stock of the corporation
payable on or before the both day of
May, 1907, to John j. Banks, secretary.
Spanish Fork, Utah. Any stock upon
which this assessment remains unpaid
on the 30th day of May, 1907 will be
delinquent and advertised for sale at
public auction, and unless payment is
made before, will be sold on the 10th
day of June, 1907, to pay the delin-
quent assessment, together with the
cost of advertising and expense of
conducting sale.
JOHN j. BANKS, Secretary
Spanish Fork, Utah, May 9Th, 1907.
The Spanish Fork press. [volume] (Spanish Fork, Utah) 1902-current, 1907-05-30

Street ever organized a more elabor.
ate system of getting advance infor.
nation of things that would affect
Wall street When the street was
waiting anxiously for the final decs
ion in the Northern Securities case,
and the Union Pacific party believed
that it had defeated James j Hill. Mr.
Gates one day sent word to Mr.. Hills
office that he had something to tell
him. The railroad president walked
down Nassau street and across Wal
street to the plunger's office. There
he learned from Gates that the Su
preme court decision would be agains,
the Union Pacific. Gates didn't tel
how he knew it, but he assured Mr.
Hill that he knew what he was talk
ing about. Northern Securities begar
to soar that day, and never stopped
until it had advanced $40 a share
Some days later the Supreme court
decision was made public 1t was just
what Gates said it would be.
Gates Is born bull. He has yeI
taken any part in bear campaigns
because he's too much of an optimist
to bet on stocks going down. Every
time during the past six or seven
years when the market has had bad
break, the story has gone around that
Gates was hurt The bull market of
the fall of 1902 was almost entirely a
Gates market, Gates and his follow.
ing put st, Paul nearly to 5000 and
We're loaded up with stocks when If
was discovered that the Standard OH
crowd had been selling stocks all the
way up. The market collapsed and
'he Gates crowd took heavy losses
1t is Gates peculiar fame tina, he
owns, 50 far as is known, the most
singular pleasure craft possessed nv
a millionaire. 1t is a sidewheel Yacht
OF uncertain age, but steady as tbe
proYerbial church, and fitted out in a
manner that puts to shame its mora
pretentious rivals of the prope,Ier
variety With his wife he has snart
much time on this distinctly family
Seagoing craft, which pleases him ~
Ihe point where he tolerates good.
haturedly the quips of his friends ON
It's packingcase proportions.
Small wonder is it that his liking
Tor pictures has taken him into ,be
school called Photographic" by tba
critics His tayorite is Messonier and
OF the red and blue clad soldiers
conrtiers and ladies who troon
through that artists canyasses he baS
a goodly company in his Waldorf
rooms, And he finds unending do
light in the bright colors and clear
cut figures,
OF the hordes Of newly created min.
ionaires borne into Wall street on tho
wave OF industrial combinations which
overwhelmed the country from ,hs
10 1901, Gates was the most pictrr,
esque' He has added TO thar distino
ton the further honor of lasting tho
longest and Of retiring not without
iaurels One may not wonder IL IL
might not be said of him now wbat
ne once said of himself on anotbe,
question, that he is not broke nm,
badly bent" '"'
The Spanish Fork press. [volume] (Spanish Fork, Utah) 1902-current, 1907-05-30
l.. ET@ry
sometimes he wins.

,oses Sometimes he wins M"ry
man man who goes into business gamoles'
Of f' course. the element of Judgment en- =,
.ors In Int the element of chance can
u u he rnled out Whenever a man
starts out on a railway journey II 5
a gamble whether he ever reaches ms MS
destination. All life is a gamble you
see" hoon
In active markets it has not IT,, oee y,
unusual for Gates to carry iine OF Q.
so5 600. 900 or $So,OoO,OoO worth OF
stocks on margin Some of the older
men in the street have tried a5aln
and again to tie him up, but tney
have never succeeded. Gates mas
always had his eyes open. Where ne
couldn't see far enough with his own
ewes he paid somebody else to look
out for him. No operator IN wan
The Spanish Fork press. [volume] (Spanish Fork, Utah) 1902-current, 1907-05-30

in New York to close a deal for the
purchase of another mill.
The Steel Merger.
They picked up everything in sight,
hurried to Chicago, and within a
week after the opening of their cam
paign, they had the whole company
organized This is the way that Gates
likes to do things Gates and all his
followers cleaned up fortunes in this
fiotation. The public appetite was
keen for industrial stocks, especially
for steel stocks, and the conversion of
millions of dollars worth of newly
manufactured stock certificates into
the coin of the realm was accom-
plished in a short time Two years
later the big trust was formed in the
steel trade, and the Gates companies
We're turned into the merger. Gates
wanted to go on the steel board,
but the chief promoter, Mr. Morgan,
wouldn't have it. The banker said he
didn't think that Gates was safe man
to have in great corporation direc.
torate.
Mr. Morgan's GOODNESS toward him
didn't seem to worry him at all. Not
many months later Gates began to
plunge heavily in Louisville & Nash.
vile, He told his friends that ii was
a great property and that it ought to
go higher. He and his following in
New York and Chicago which by that
time had grown to large proportions
because of the money he had made for
them in his steel stocks, put the stock
from around par to above $3.50. The
street woke up one morning to dis
cover that Gates had "cornered" Lou.
isville, The Northern Pacific corner
panic was still fresh in the mind of
Wall street and there was a momen-
tary scare. But Gates said he didn't
want to hurt anybody, The road
looked good to him and he had Dough.
some of the stock In fact, he had
bought the control, Gates didn't have
any special use for a railroad with
$500 miles of track, and he looked
around for purchaser. He went to
Mr.. Morgan's office one morning. and
said; Morgan, | own the control of
the Louisville. If you want it or have
a buyer for it, you can take it off nv
hands Mr.. Morgan found BUYER
and Gates cleaned up a fortune.
Gates is born gambler. When he
was country shopkeeper out in Hi
nois he spent many night in a box
car on the siding, playing the great
American game" by the light of =
trhinman's lantern. Great financier
that man Gates" exclaimed railway
fireman one day, as he saw by the
newspaper headline that Gates had
made big coup in Wall street. we
knew that before Wall street ever
heard of him, when he raked in the
jackpots out at Turner Junction" was
the engineers reply Gates believes
that gambling is what makes the
world go. Life is a gamble" said he
the other day. Everything is a
gamble. When the farmer plants bis
corn he is gambling, He bets thar the
weather conditions will enable him In
raise a good crop, Sometimes no
The Spanish Fork press. [volume] (Spanish Fork, Utah) 1902-current, 1907-05-30

idea came to him that if the farmer
would sell him the timber rights he
could fell the hard wood and cut ii up
into frewood to sell to the neighboring
villages The boy went home after
tape measure, paper and pencil, and
then back to the woods Undertook
ing. Going about the woods, select
ing small areas. counting the hard
woods and measuring them, he got an
idea of the density of the forest. He
sat down on stump, and by dint of
figuring he made a rough estimate of
the number of cords of firewood an
acre would yield. Then he went to
the owner to make a bargain He
made an offer for all the timber,
agreeing to pay for it as money came
in from his sales of firewood.
II haven't any money" the boy told
the farmer. but you can have my
threshing machine as security"
Go ahead, Johnny; your word is as
good as government bond"
Gates as a Woodcutter.
All through the winter the lad was
out in the wood lot before daybreak,
working with a woodchopper he hired
to help him. The great trees were
felled, sawed into short lengths, and
split into firewood Young Gates de-
livered two loads of wood a day by
sled to the neighboring villages. Be
fore the snow was off the ground the
woods had been cleared, the owner
had been paid in full, and the boy had
$1,000 in the bank. He took this
money and opened a hardware shop
at the neighboring railway junction.
He sold the farmers their implements
and machinery. One commodity that
had a large sale was the newly in
vented barbed wire. The little hard
ware shop at the junction prospered,
but Gates wanted to do something big
ger. He saw that there was money
in barbed wire, and so he sold out his
business and went to see the man, in
an Illinois town, from whom he had
been buying his wire
This was Col Isaac Elwood, pion.
eer in the business. He was not look
ing for partners, but he gave the
bright young country shopkeeper
job as travelling man for the con
Germ. Gates travelled back and forth
through the wheat belt selling barbed
wire, and made reputation as one of
the best "drummers' on the road.
But he wasn't content with his drum
mer's" commissions. He wanted to
divide the manufacturing profits with
Col Ellwood The manufacturer
couldn't see it that way, and SO Gates
put up a barbed wire mill of his own
His knowledge of the trade was an
The Spanish Fork press. [volume] (Spanish Fork, Utah) 1902-current, 1907-05-30
What's the matter0
with | D A n 0 !

vi Thousands of acres OF land hi1
been reclaimed to cultivation
irrigation in that State dun3
the past 10 years. Thousss1l]]
more will be- reclaimed WHY
II the next 10 years. This me13
~ an opening for many thousan]
III OF homes.
The Spanish Fork press. [volume] (Spanish Fork, Utah) 1902-current, 1907-05-30

! d
Ehe Pei
Ned the|
atOl inyd
Met has
#,l8,OOO|
ss,OOO,O|
Hin 1878
|Ritions,
4 local d
Ned Sta|
|BInmer |
Has a d
|Ithe kin
Flll, Sci
b Of a
N Scarf
equal Il
Then Sd
I$lSNOd
/ Scarf
|igation|
Ean't BID
|.AttornI
q to ID
,inu o,I
The Spanish Fork press. [volume] (Spanish Fork, Utah) 1902-current, 1907-05-30

young Gates had made enough money
10 buy out his two partners. At one
of the farms where the lad had
threshed wheat he fell in love with
a farmers rosy-cheeked daughter.
This gave him an incentive to go
ahead and make fortune.
A farming community away from
the railways does not present many
golden opportunities to an 1S-year-old
boy. Near the farm was strip OF
woodland where Gates shot par
tridges and squirrels. Tramping along
a f~ot-path in the woods one dag the
The Spanish Fork press. [volume] (Spanish Fork, Utah) 1902-current, 1907-05-30
PROBATE AND GUARDIANSHIP
NOTICES.

Consult County Clerk or the respec-
tive signers for further information,
In the District Court of the Fourth
Judicial District of the State of Utah.
sitting in and for Utah County, Pro-
bate Division.
In re estate of George G. Hales,
deceased.
Creditors will present claims with
vouchers to the undersigned at the
law office of A. SaXey, at Spanish
Fork, Utah, on or before July 8, 1907
HAL B. HALES,
Administrator.
A. Saxey, Attorney for Estate.
First publication March Z, 1907.
The Spanish Fork press. [volume] (Spanish Fork, Utah) 1902-current, 1907-05-30

asset, and he soon became danger.
GUS rival of Col Ellwood. The colonel
brought an action for infringement of
patent rights and bitter fight was
the result, But Gates hung right on.
Col. Ellwood finally had to make peace
with him. The two became business
partners and have been closely asso.
ciated in big enterprises ever since.
Other barbed wire mills began to
spring up, and Gates saw that there
would be disastrous trade war il
the rivals were not corralled. He went
around the country buying them up
The Spanish Fork press. [volume] (Spanish Fork, Utah) 1902-current, 1907-05-30

Free Samples of "Preventics' and
booklet on Colds will be gladly
mailed you, on request, by DR.. Shoop,
Racine, Wis, simply to prove merit.
Preventics are little Candy Cold Cure
tablets. No Quinine, no Laxative,
nothing harmful whatever. Preventics
prevent colds-as the name implies
when taken early, or at the "Sneeze
Stage" For q seated cold or La
Grippe, break 1t up safely and quickly
with Preventics. Sold by World
Drug company.
The Spanish Fork press. [volume] (Spanish Fork, Utah) 1902-current, 1907-05-30

Gently moves the bowels and at the
same time stops the cough. Bees
Laxative Cough Syrup. Contains
Honey and Tar. No opiates. Best
for Coughs, cold, Group and whooping
cough. Satisfaction guaranteed. Chil-
dren like It. Mothers indorse it,
Sold by World Drug Co.
The Spanish Fork press. [volume] (Spanish Fork, Utah) 1902-current, 1907-05-30
Able.eodied Men in the West.

There are more able-bodied men to
the total population in the Western
states of the United States and Can.
ada than anywhere else in the world.
The Spanish Fork press. [volume] (Spanish Fork, Utah) 1902-current, 1907-05-30
Decrease In Death Bat.

In the reign of Charles |. the death
rate In London was 10 per 1000, or
more than three times what it IS
now
The Spanish Fork press. [volume] (Spanish Fork, Utah) 1902-current, 1907-05-30

Not Trustworthy Sign.
1t isn't always safe to judge a
mans greatness by the number OF
carriages In his funeral procession.
The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1907-05-21

New CrgantzG ton Fornicd With Cover
nor hughes OF New York AT the
Head.

Washington. d. c.. May 1S-Gov.
ernor Charles r. Hughes. Of New York,
was today elected president OF the new
Northern Baptist invention which was
organized here today. This action
was TAX at the general meeting OF
the delegates to the General Baptist
Societies IN session here and other and
other Baptist laylnen who are in at
tendance. The mention Of Governor
Hughes name was greeted with pro-
longed applause.
The other officers elected we're:
Tice-Prcsidents: Harry Pratt Judson,
Illinois Rev. s. II. Greene, District
Of Columbia and Corwin ). Shankv.
Washington; Corresponding Secretary,
Re-. ". c. Biting, Missouri: Record
ing Secretary, Geo. w. Coleman. Mas
sachusetts; Treasurer. X. e. Lincoln,
Pennsylvania: additional members OF
the executive committee. Rev. j. w
Comfy, Nebraska; E. j. Lindsay, Wis
consin. Rev. A. f. Green, Illinois; Rev
+. "A. Hanley, Ohio: Rev. Robert Ash
worth. Connecticut; Rev. l.. A. Gran
dali. Minnesota; T.. r. Runyal3, ore
gon; Rev. F.. w. Sweet, Michigan: f.
II. Rowiey, Massachusetts; Rev. J. w.
Montague. Kansas; j. j. Vaughan,
Iowa; w. E. Roselle, Pennsylvani4:
Rev. r. b. Bryan. Indiana; j. II.
Oklahoma.
The constitution and bylaws which
were adopted are subject to final rati-
fcation by the convention which will
assembly again next May.
The chief point at issue was wheth-
er the new convention should receive
and consider reports from the mission
airy societies. This was settled by
referring the matter to the executive
board to confer with the boards OF
the societies.
The American Baptist Publication
Society convened in its eightY-9ecOnd
annual session this afternoon. Rev.
w. Ct. Bryson, of Chicago, viCe-presi-
lent made an address, which was fol
lowed by the appointment of commit
tees and the reading OF reports. Adj
dresses We're made by Boston w.
Smith, Ct Minnesota; by u. NJ. Cleye-
land, OF New Hampshire, and by T.. NJ.
Stephenson. of Colorado.
At tonight'S session addresses were
made by Rev. f. w. Hunt, of Ohio,
and by r. NJ. Poteat. Of South Caro-
lima, on The Attitude of the PubIica-
ton Society on Open Questions"
Greetings were sent to the Southern
The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1907-05-21

WOUND Is MORTAL,
Attache of Peruvian Mission Stabbed
by n Washington Politician.

Washington. D. c., May 1S.-Ale-
jandro Garland. the attache Of the
Peruvian legation, who, it is charged,
was stabbed early Thursday morning,
by Charles A. Edwards, secretary Of
the Democratic congressional commit
tee, has taken a turn for the worse.
His physician. DR.. George NJ. Rufnn.
refuses to give any specific informa-
ton as TO his patient, but stated to
an Associated Press correspondent
that while his condition was serious,
he did not thinks he would die to-
The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1907-05-21
DOC MIIKED CO.'S.
iiard II TIL What Dog N#t '|
These Days Of Graft aud -tE
uoeity.

~ ilkeSDorD tgr#E.
Policeman Lane. OF >n-.e
boro. had an uuuzIa.
thursday morning He
2 d1g that had gone uu',H#
ncignbors back ward. ha.
the milk COW and ~a
the manner Of q EuuRgy ."
Pohccman Lane demanded ..
- show mis- license and Tax
permitting such busiue
IKE Brer Rabbit. Ills .#.
say nutin,' but jis keep r..
miikia' the COW ana rcfg
the premises. Wh"reupoH
man Droceede1 to dispat.G |
q bully. Did sou I'VE hea
DONG such a stunt before
hard telling what Il dos
these days CT graft and stree
The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1907-05-21
Mr.. Hennessy On Presidential Boom,
trbaaaclpnia LeaEso


scr en 81 80
atf e rhanks
~ sure
ON - iftc
s,eaw 80 tr aH
stArrrf \sN
De lr l us-t
prte IS
Now rha~ ra t g.
Na1 fNf 3
iili Atss.
rhoC IS 1fl Ea
T1ia
f-:rua. Poor F#.
aboard - w.
seq hc h
down 'hri -" n,
r fts
r. uaWtrsstl.u
ys45ou~ IaH.t
fA' Root un ~ HH
u.ekc 4s life size
arduta~ jour me-,
10 NJ name !:r
Srx 1laiv p.it
Onl, south Ausr.
clears sTls us..t
nm, haaus fr IN ta.t
a. hiatn is r1fIs.
h,Fr-r is N, n
IL south America T
.tlfhu 81 ~ur.r.
rhIaomtnal hur-rr a
narlrrc ,cY T.Fs.
IN laaa that re.e h-.r
and-tua Others
near N middle is. A
iaktn thet y.r-a,s.,
shtlf Rall>. TBIa. v.
NJ ~ .earraprt.,.
The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1907-05-21
5y =. p. Dunno.

right. 1907. by II H. Mcclure Company
The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1907-05-21

Democratic. and Mr.. Belmont beclVs
chairman 81 the Committee on For
-lgn Affairs He earned this appoint
mont n a speech he nal made IN ne
previous mgr N ire subject OF
south American affairs ms was III
discussion CT i entire
question and a full and complete his
fo-e u our reigTIouH With fcT@. ana
that speech ia now become oar poll
icy IN that particular
IL Wa four lines elected - Con-
greSS from tho Long Island district q
New York. and served IN that bod
antl he was appointed Minister 80
spain. near the close % the uTSt 1i"vs-
land administration. u r worthy II
note thst he was still a. taat post
when Ir. Blaine again Dccatnc heai
Of the State Department.. and that ar.
blaine cordially approved his course
in certain negotiations with the span
lsn foreign office. In Congress Ar
Belmont was a very ac;ive member
ana ceaseiess in industry The bta4%.
reports, and speeches crnGnafiag from
him covered IA wide range. and wee
devoted 10 numerous subjects II
was also frequently on the =tCInp. anu
contributed copiously - the press on
matters Of public interest
lie was always a Democrat. and
fixed IN the principles OF the part.
oSN ~
n 1898, and became a leader IN the
Palmer and Buckne- m~ovcnnent ONLY
a man born a Democrat. ami q Demo
crat for hat he believes. can tell whet
II costs TO engage in a bolt OF a regu-
lar ticket. The abuse that Z brings
IS as nothing. II is the sorrow aud
the regret OF a severed relation that
Expresses. He supported ar. i:ryc1
In 1901.
But this paper has come 10 is al
lotted length. True to his lineage,
Belmont served in the war against
spain. as did eight OF hrs Kindred. but
he never ceased TO d.stIust the Rcpub-
licau party and to hope for the return
of the Democracy that he believes In
TO power. His present ambition Is u
lena his eHdeavor 70 the advancement
OF ideals rather than mcn in political!
affairs. and when that j. accomplished
enlightened progress viii follow as The
dawn the dark.
The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1907-05-21

Beware Of the mining -t@@
around on the ground floor.
The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1907-05-21

Edmund Perry, of Devonshirc.
England. was a direct descendant. in
the sixth generation from Sir William
wallace, hero of Scotland. He came
to America in 1890 and settled -,
Massachusetts, A descendant of his.
christopher Ray Perry. a naval off
Ger of the United States. was the ia
Their of five sons, all officers of the
United States Hazard
Raymond H. j., Matthew C, James
ALEXANDER and Nathaniel Hazard. The