The evening world., 1911-11-23
One of Those Ventures in
Which Oneself Is Found
"Rather Against the Will"
REV. Mr.. GATES, ADVISOR
up to Us" to Keep Minnesota
Properties From Bankruptcy
in 1898 Panic.

~ in his book Random Reminis-
s0ess Of Men and Events" Of how he
~ hold Of the famous Mesaba Iron ore
hslds IN Minnesota, In connection with
IL s~ccusstion Of which Leonidas Mer-
rt1 o. Duluth says he sent the famous
asessags: You go back to Rockefeller
a. tell him when I steal. I will steal
fse myself"
'0olng Into the iron ore fields was one
Of those experiences In which one finds
ouo's self rather against the will. for II
wAa not . deliberate plan OF mine to
sAtsad my cares and responsibilities.
~ connection with iron ore came about
thsoaGh some unfortunate investments
In the Northwest country.
These interests had incluc ! a good
many different industries-mines. steel
m0is. paper mills. a nail factory. rail-
roo1s, lumber fields. smelling properties
an other investments about which l
hASe now forgotten. was a minority
stockholder in all these enterprises and
haA no part In their management. Not
all a them were profitable.
MANY FOUND THEIR VALUES
FICTITIOUS.
~As q matter Of fact. for a period OF
yean Just preceding the panic OF 1888.
va1uss vsre more or less inflated. and
many people VINO thought they were
wealthy found that the actual facts
were quite different from what they
hsal IMAGINED when the hard experi-
sacss Of that panic forced upon them
IN unpa,atsble truth.
'slfost OF those properties I had not
seon Sssn. having relied upon the inves-
tioAtiou Of others respecting their worth;
in1ss1, Il has never been my custom
to rely alone upon my own knowledge OF
the value Of such plants. I have found
otnA people who knew much better than
hev 70 Investigate suoh enterprise.
.sDvsn at thds time I had been plan
aiaS . relieve myself q business cares.
a. ~ panic only caused me 70 post
peas tahns the long holiday to which
I hsA been Ioetins forward. was
fortunate In making the acquaintance
os Mr. Frsdsr4ck 7. Gates. who was
th4n snoaesd II some work In oonnec-
usa With the American Baptist Educa-
tisA Society which required him ia
tsavsi extensively over the country.
Nsrth. Sou. East and West.
occurred TO mo that Mr.. Gates,
NJ 80 Q Oe,t store Of common sense.
thou0A - especial technical education
sheut factories and milis. might AID
- b securing soms hrst hand tnfor-
madea - 20 how these concerns were
aeosaily prsspsring. Once, as he was
esohs South. I suggested that he look
ovtr a. iron min In which I had some
intsrssG which happened to be on his
rsute.
oAvee HIRED BUT TO KEEP UP
PHlLANThRoPIEs.
The rsOost was q model Of what such
. repost should be. II stated the facts,
anl In this case they we're almost all
unlAvorsbis. A little later he hap.
p0eA 10 Be going West. and gave
him the name and address Of property
In hat region In which I held q minor.
ny interest.
= TT cutie sure that this particular
prGpssty WAS doing well. and II wa.
sonsWAat Of . shock for me to learn
through Ids clear ana definite account
that II Wal only q question OF time be
foro thks enterprise, too, which had beer
repgsssnted a. rolling In money, woul,
set into trouble II things kept on as the,
wees going.
- "'u W" VT "a'es !"
scoeet = PoNt,op whereby ne eoui'
he'e ne unravei these tangled AFFAIRS
n oseoms. ike myself. ' man o
But II was agreed betweei
us that ne should not abandon hi
larger and more important plans 70
working out some philanthropic as
piratons that he had.
OATES TAKES the CARES:
lonN n pi coIr