Pine Bluff daily graphic., 1911-08-10
GATES FORTUNE
 FORTY MILLION WEALTHY AMERICAN WAS AS- TUTE FINANCIER AND
 CONSERY ATINE.
HIS MANY HOLDINGS
PicrpOnt Morgan Never Forgayc Him For His Steel Coup in l9Oi--
 Body to Be Brought Home.

New York, Aug. 9.-The fortune left by the late John w. Gates was estimated today as being between thirty and forty millions of dollars, probably nearer the former than the latter figure.
 MT Gates had the reputation of be- ing gambler in stocks remarked one of his friends today, but those of us who were intimate with him knew that his speculations were made only after the careful digestion of ev- cry available bit of statistics upon the property upon which he intended to invest He was one of the most astute financiers of the day
 It was the policy of MT. Gates dur ipq the last two or three years 10 d. vest himself as rapidly as eompat- ible with good business judgment of the bulk of the large list of speeula- tive stocks he had accumulated as one of the boldest operators Wall only directory memberships With which ceeds in a safer line of securities. The street has known to invest the pro- he was credited at the time of his death were; American Salt Company, Baltimore and Ohio Railroad Compa- ny. Century Realty Com"a"v, Hippo drome Amusement Company, New York Hippodrome Company Plaza Operating Company (The Plaza llo- tell. Republic Iron and Steel Com pany, the Texas Company United States Realty and Improvement Con- pany and Western Maryland Railroad Company.
 That MT. Gates was the largest in dividual holder of the stocks of the Texas company and of the Republic Iron and Steel Company, is generally conceded. The Texas Company was largely of his own creation. It was this organization that he mainly directed the development of his immensely potential oil fields in Texas and Louisiana. He had plan ned ultimately to make it real rival of the Standard Oil.
 The Republic Iron and Steel Compa- ny was his last big remnant of hold ings in steel. The last act with which b;o popoo uyae oopoontod uac tho cut in steel bullets, made by the Republic Company May 2S last, just few days before he was called as the first inn portant witness by a congressional committee Investigating the Steel Trust.
 In Wall Street today the story is generally accepted that the break between J. F. Morgan and MT. Gates was due to Gates force in shutting down the mills of the American Wire and Steel Company in 1901. Mir. Gates was reported to be short of wire and steel stock. He perceived that the surest means of saving himself from heavy losses was to discharge all the employees and wait until consumption overlook supply.
 This action caused a furry in Wall Street which even MT. Morgan could not calm. Mr. Gates calmly sailed away to Europe, leaving Mir. Morgan to rave. This was one of the power full factors that converted MT. Morgan to the idea of the Steel Trust, but he never fully forgave Gates. After the panic of 1907, MT. Gates went to Tex as to devote his personal attention to his affairs there. From village, Port Arthur has grown in four years to a city of 10000 population. Through his energetizing influence the govern ment is now deepening the channel of the Saline river to accommodate ocean going vessels.
 Cable dispatches from Charles Gates to friends in New York, state that funeral services will be held in Paris OH Saturday Or tho following We'd nesday, Mrs. Gates and her son will sail for New York with the remains.