The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1911-08-09
JOHN W. Gates
PASSES away
CAPITALIST AND Fl.
: NANclER BREATHEs HIS LAST
IN PARls-END WAS PEACEFUL.

. q
PARIS, Aug. 9.-John W. Gates, the
American fnancier, died at $40 this
morning in the arms Of his wife and
his son, Charles G. Gates.
The end was peaceful, and 1t seemed
as though he was falling asleep.
|. The usual restoratlves failed in the
last crisis.
Others present at the bedside be-
sides the members Of the family were
Doctors Gros and Reeves.
The death of John Warne Gates in
Paris today removes in his prime one
of. the boldest and most successful
American fnanciers and picturesque
figure in the field of sport. Since 1880,
when he organized the Southern Wire
company, Mr.. Gates had been man
with whom It was necessary to reckon
in the particular industrial affairs to
which he had given his attention. In
recent years he found relaxation from
business care in becoming a promi.
nent patronof the American turf.
Mr.. Gates began his business career
as proprietor of a hardware store at
Turner Junction, Illinois, near the
farm where he was born in 1856. His
parents were Asel "A. and Mary Gates.
AT st. Charles, ILL.,, in 1874, he mar
'ried Dellora r. Baker, who, with their
son, Charles G. Gates, survive.
Big Wire Interests.
From a hardware merchant, Mr..
Gates. became interested in barbed
wire, first as a salesman and later as
4 manufacturer at st. Iolis. Foilow-
ing the Southern Wire company, he
organized the Bfaddock tPa. Wire
company, which in 1892 he combined
with other wire concerns as the Con-
solidated Steel and Wire company.
Six years later this was sold to the
Federal Steel company. In 1897 he
organized the American Steel and
Wire company, now a subsidiary Of
the United States Steel corporation.
Primarily interested in steel and
later in oil the financier was also lden'
titled with many large operations of
railway and Industrial stock. He was
known as a shrewd Spectator in Wall
street through many ventures, notably
the coup by which he obtained control
of the Louisville and Nashville road.
He was;a director Of the Baltimore
and Ohio Railroad, Western Maryland
Railway, Tennessee Coal, Iron and Rail-
road Company, American Salt Com
pany, Republic Iron and Steel Com
pany, OF New Jersey, and other con-
Germs.
The Wall street house Of Charles G.
Gates &. Company, of which the son
was the ostensible head, did a great
business for some time preceding the
banking troubles of 1907. In common
with many other financiers, Mr.. Gates
suffered some reyerses and soon AT
erward retired from the market and
the firm was dissolved,
Last Public Appearance.
The last public appearance OF Mr..
Gates was III connection with the steel
trust investigation in Washington, In
the spring, when he gaVe'a graphic
description of the formation Of the
United States Steel Corporation. BE.
fore the corporation was organized, he
told the Stanley committee, there had
been "gentemen's agreements" be-
tween the various steel concerns, but
ANDY (meaning Andrew Carnegie)
would always kick them over"
He told also how H. G. Frlck and w.
H. More had paid Mr.. Carnegie ST..
100000 for an option on the Carnegie
plant, and how, WREN their plan failed,
Carnegie had kept the sl,OO0,0OO. 1t
was this testimony that led Mr.. Car
negie, who was in Europe, to say some
sharp things about this man Yates
Yates being Mr.. CarnegIe's. construc.
tion OF the fnancier's name.
In politics Mr.. Gates was Republi.
can, and was a colonel on the stan
of Governor Tanner, Of Illinois, lin
1S97.19OO. He was a man Of great en-.
ersy, shrewd and resourceful, hard
fighter and good loser, and one
whose willingness to "take chance"
on any reasonable proposition gave
him wide popularity in the realms OF
finance and sports,