The news-democrat. (Providence, R.I.) 1906-1909, 1907-12-28
CANF|ELD JOINS GATES
IN TEXAS OIL VENTURE
Art Connosser Said Have Entered Partnership During Visit
Former Broker-Quoted Saying Southwest Is Good
Field for Man With Money

Richard A. Garfield, the former Provi-
noisseur. and John w. Gates, IT is report
ed. have formed partnership and are To
engage in the oil business in Texas.
Mr.. Gates is already I'm 1t, and Garfield
is quoted as saying he will devote the re-
mainder Of his life 10 legitimate business,
and that he considers Texas an inviting
field for a man with capital and energy.
Garfield is now the guest of Gates at the
home OF the former Wall street operator
In Port Arthur. Mr.. Gates home Is one
OF the finest houses in Port Arthur. and
he makes Il his winter headquarters
He invited Garfield there TO let him in
vestlgate the oil business, as II is said the
former gambler. I'm spite OF the stories
about his being down and out" financial
ly. has a large fortune, which is seeking
investment
A dispatch from Port Arthur says the
result OF the visit is that Garfield has ex-
pressed himsNf as highly pleased with the
outlook, and Will associate himself with
Gates In all the oil projects now on hand.
The plan is TO do an extensive business
in Texas and in Mexico. Mr.. Gates is
the head of the organization known as the
Texas Oil company. This concern has
lately completed pipe line from Tulsa. l.
T.. to Port Arthur, distance of about 500
miles.
COMPANY IN GOOD CONDITION.
Two large refineries have been built at
Port Arthur. and one is to be erected at
Dallas, which IT is said will be the largest
single refinery I'm the world
Strategcally, with a large refinery at
Dallas to handle the trade OF the northern
and eastern part OF tho state. and re-
fneries at tidewater TO handle the Mexi-
can trade. the company Is in a good posi-
tion.
The company's affiliations arc not en-
tirely klown, and whether Standard oil
men are mixed In with Il or whether Il is
TO become an open competitor OF the
Standard is one OF the secrets OF the oil
business. For this reason it is not known
whether Garfield. in his new venture will
be an ally or a foe OF John u. Rocke-
feller
The retirement OF Richard Garfield from
tho gambling business was announced to-
ward the close OF the racing season In
August last, at Saratoga At that time a
large sign was put up announcing that
the club house and grounds al Saratoga
were for sale. At the time T. was said
that Garfield had gone broke"
CANFIELD'S CAREER.
Previous 10 this he had said he was out
OF the gambling game. and beyond the
Saratoga game there had been nothing In
that line done by him since before the
Jerome raid five years ago. AS a result OF
this raid Garfield was allowed 10 plead
guilty OF being a common gambler and
was fined 1900.
For the legal fees I'm this case and I'm
others involving the collection Of money.
he was sued by his lawyer, who got judg-
ment Then he received another Jolt when
his broker failed. owing him a sum OF
money. he having been a heavy dealer In
Wall street.
Canheld's career as n gambler extends
over more than quarter Of a century.
His career began soon after he left coll
lege. In 1856 he went TO New York and
his place In Fourty-fourth street followed
more modest one I'm Thirty-sixth street.
For years he was considered the backer
OF the biggest game In the world. Monte