The Mena weekly star., 1911-08-17
A Picturesaue Fiqure.

A Picturesque Figure.
 The death of John w. Gates in Paris removes in his prime one of the boldest and most successful American flnanciers and pictur- esque figure i'll the field of sports. Since 1880, when he organized the Southern Wire Company, Mir. Gates has been man with whom 1t was necessary to reckon in the par ticular industrial affairs to which he had given his attention. In recent years he found relaxation from business cares in becoming promi- nent patron of the American turf.
 MT. Gates began his business ca reer as proprietor of a hardware store at Turner Junction, H., near the farm where he was born in 1855. His parents were Asel A. and Mary Gates. At st. Charles, H., in 1874, he married DeIlora R. Baker, who, with their son, Charles G. Gates, survives. From a hardware mer- chant Mir. Gates became interested in barbed wire, first as salesman and later as manufactures at St. Louis. Following the Southern Wire Company he organized the Braddock, Pa, Wire Company, which in 1892 he combined with other wire concerns as the Consoli- dated Steel and Wire Company.
 His First Adventure.
 In the early 70 a young salesman went down into Texas to sell steel wire for fencing purposes. Every where in the Lone Star state he sold barbed wire, miles and miles of 1t, for the great cattle ranges. He, of all men interested in the steel wire business, realized the great possi- bilities along that line. That was John w. Gates, the product of an Illinois farm and the graduate of an Illiois hardware store.
 He saw that at some day the en- tire southwest would be fenced Ill with barbed wire, and he deter mined that it would be he who reaped the profit of his foresight. He gave up his job as salesman and with a partner put up some SS,0Oo uying three machines with which their first start in making barbed wire began. Week after week they divided 50 per cent dividends, m creasing their capital from tune to time.
 Tn 1895 MT. Gates secured contro. of the Illinois Steel Company, and three years later organized the Federal Steel Co, with a capital stock of S90000,000. Then he began to be called into the councils of the captains of industry" At one oi these meetings James J. Hill told him that Morgan was worrying about the steel industry. Gates saw :. a way out. That was by great consolidation, which would taken m his Federal Steel Co. and his equal ly large American Steel and Wire Go. He said that it was he, and nos Morgan, who conceived the idea of building up mammoth steel trust'
 Helps for Trust.
 The steel trust formed, Gates be- came big op srator on Wall street. making big winnings and suffering big losses without batting an eye. He was born gambler, and was about this time nick-named Bet Yer-a- Million" Gates.
 His operation i'll Louisville & Nashville was spectacular. The road was under the conservative man. agement ui istsS August Belmont. Gates formed syndicate to get control. Belmont awakened to the fact too late. Within six weeks Gates and his associates had 100000 shares and controlled 100000 other. Nor gan, objecting to gentlemen buy ing railroads ever night" had 10 save the situation. It is estimated that the profits of the Gates pool were $5,000,000.
 Gates was forgetfui, ss he sad Once he carried check for Si ,250,- GOO around in his pocket until re- quested to cash it so books might be balanced. In 1902, after aston ishing Europe Gates came back to New York with barbaric pearls and gold. On his other spells of Lon- don, he paid si,500 duty on a doe collar of pearls and diamonds S6,Ooo He was going away when coliec- tor asked him about a s35.000 neck lace. That's true" said Gates. T forgot the darned thing. His fer getfulness cost him $2f ,000.
 Forgot $2,000, ,00G.
 Of the se0,000,000 stock of the Ayneriean Steel and Wire Company