East Oregonian : E.O. (Pendleton, OR) 1888-current, 1911-08-09


of 100000 900, most of which goes
to the sen, though the wife is well
provided for
The death of "Bet-You-a- Million"
John W. Gates, perhaps the best self
advertised multi-millionaire in Am
erica, brings to an end a financial
and personal career that has probably
never been equalled.
Worth probably $4,000, 900 or S30,-
OO0, 900 at the time of his death, John
W. Gates, "the forgetful man" who
stood not in awe OF Morgan or Rookie
feller or in fact. the whole combined
Street" wanted the world to know
he had money. He wasn't ashamed
of IT. once he had his private secre-
tary write to the New York Herald:
Let 1t appear In your financial page
that during the late rise in railroad
stocks, j. w. Gates has made between
SO, 100000 and s40O0,000, principally
in Baltimore & Ohio and Union Pa
cific. both great favorites of his
Gates was born in Turner's june
ton. H., or what is now part of
South Chicago, on May s. 1855. He
was as poor as poverty. But, If South
side tradition be true. Gates was an
early financier He farmed ION
shares" and usually bought out his
partners. He was a most excellent
"hoss snapper" When he was Is he
was married to a farmers daughter.
After running a small hardware and
grain business in Turner's Junction,
Gates became "A drummer, and, he
admitted himself, he was a peach"
He travelled for Isaac l. Elwood,
founder of the barbed wire industry,
and introduced barbed wire in Tex
as, proving a wonderful adept at the
art of talking a man into buying.
Later he exemplified this in selling
out to the United States steel corpor-
alton at price far beyond the value
of his works.
Gates was really forgetful so he
said. once he carried check for ST.
25O,OOO. around in his pocket until re-
quested TO cash II so books might be
balanced. In 1902. after astonishing
Europe. Gates came back to New
York with barbaric pearls and gold.
On his clothes, the spoils of London,
he paid $500 duty: on dog collar
OF pearls and diamonds $4,000. He
was going away rejoicing when a col
lector asked him about a s35, 900 pearl
necklace. That's true" said Gates
az forgot to declare the darned thing"
His forgetfulness cost him $4,000.
OF late Gates and his son Charley
have been investing heavily in Texas
oil fields and bucking the Standard
Oil. Gates was one of the heaviest
stockholders in the Republic Steel &
Iron Co, which has remained aloof
from the steel trust and fought it con-
sistently.
Gates was a thorough sr'
loved horses and horse RAJ .'rt =, 4
bets we're always in thu .'ins anu II, IA
played poker for mr. erso snousns'' s,anes an r,
was repu'eo 20 hive lost s25, 900 ono
...p from. New York to Chicago
GATES ws.s an art collector, said
nave heen the possessor of the fines
private collection in the world.
Gates once "went in" for militar
show ana for a time was colonel {
Illinois militia.
Mrs. Gates was Miss Dellora /
Baker of st. Charles, H. He is su
vived by one son, Charles Gilbe
Gates, of whom one of the Pulitz
school of journalists once wrote:
"'The Younger Gates was n brillia'
and JOYOUS sight. Three diamon'
blazed in each suspender buckl
Three more diamonds shone in h
negllgee shirt front His cuff bu
tons glittered with costly baubles. II
glamor of his presence yoverpower
everybody in the office except h
father"
Young Gates, whose wife recent
secured u divorce. will, It is said, 1
hcrit the larger portion of his fathe
vast estate.