The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-10-29
Spend A M|LL|ON"
GATES DROPS DEAD
ON HUNTING TRIP
Is Taken With Commissions in
Small Wyoming Town Sta
ton and Dies Within Few
Minutes
Son of Bet A Million" Gates
And Knew How to Make
Money AS Well AS to Spend
It---Gave Away Million In
Tips Every Year

CODY, wYO., Oct. 2S.--Charles w.
Gates, the New York multi million
aire. known as ''Spend-a- Million"
Gates, died suddenly this afternoon
at $50 o'clock, in the Burlington
depot, a mile from this place
Death WAS caused by heart failure.
Gates and a party OF companions
have been on a hunt in the Wyoming
wilds. They had gone to the depot
TO take a train for New York. after
thirty-three, days spent in the big
game country. Other members of the
Mothersell, DR.. Williamson and MIR.
Heisler.
The hunt on which Gates and his
party went ended eight days ago,
since which time they have been at
rustic lodge maintained by Frost and
Richards on the road to Yellowstone
Park. or in town. Today at noon the
were taken across the Shoshone river
to the terminus OF the Burlington.
about a mile from Cody.
Gates was not feeling well. and
complained frequently. Suddenly he
was gripped by CONFUSION. The
physicians of the party resorted to
heroic measures TO relieve him, but
body was brought back 10 town and
will be prepared for shipment East.
Made and Spent Money.
i, Charles q. Gates was man who
knew how to make money. and who
believed in spending 1t. Long before
Lain W--Gaies- his father died and
left him $4,000. 600, the youthful
broker was known from one end OF
the continent TO the other for his
skilfui stock manipulations, and for
his disbursing proclivities. He made
spectacular trips in special trains he
was always ready with bet at the
race trark, his automobiles got him
into much trouble. but he never wor-
ried and always said that such things
were trif1es to a man who spent "a
million tn a year for tips
He never sought to break down the
impression that he was a plunger, but
he resented limitations that he was
nothing else When a report gained
currency last summer that he had
been beaten by his father-in-law In
Minneapolis cafe, he denied IL indig-
nantly. He had Just stepped off
special train when the reporters
greeted him and asked him about the
reported row.
"Of all the miserable falsehoods
ever printed, this is the worst" he
said. Il had the best father in the
world. and now have the best father
in-law In the world, and he wouldn't
hit me, not on your life. I am only
"a kid. but any person who thinks he
can lick me Is at liberty to sail In
right now. Although I'm young, am
director in twenty-three corpora
lions, and they don't seem able to get
along without me-
He Liked Speed.
Speaking later OF his special train
he said:
When / travel like to move.
This IL the life OF speed. Like the
Frenchman. I have a penchant for
getting where / start for. and i like
to go fast. II didn't break a record
it's not my fault. for / was in the
locomotive. My time liz worth money,
and l waste no time on slow trains.
Not that I care for money. I give
away 100000 in-~tips in a year. |
What's the use OF boarding money?
II you save money somebody will
burn It up after you die. I have
passion for burning up my money |
while live
That was the philosophy Of one |
side of his life as he himself express |
ed 1t, and 1t Is on that side that he |
was best known to the general pub |
lie In the financial world he was |
known as a man who seemed to in |
herit much OF the shrewdness and |
business acumen OF his father. The |
moment he left school he turned to |
financial fields as the proper place for |
his activities, and 1t was often said |
OF him that had he not been the son |
OF John w. Gates ne would still have |
made a name for himself.
Thirty-sevcn Years old.
He was born at Turner Junction,
now a part of Chicago. on May FL, I
1875. When he was twenty-five years |
old, he married Miss Mary w Ed
gar. of ST. Louis. despite the opposi-
lion Of her foster parents. In 1898 he |
began an clerk to his father who
was then chairman Of the board OF /
the Consolidated Steel and Wire COM
pany. Four years later young Gates !
began his career as a partner in Bald
win, Guerney & Company who were
stock and commission brokers. of
Chicago. From then on he was al
ways In tho financial game. and he
played 1t hard When this firm was
dissolved In 1900, It was reported to
nave made profits OF 100000.
For some months after the disso-
,ntlon. Mr.. Gates amused himself
wherever he went, he distributed
Nash with a free hand, ard broadway
always wore glad smile when the
tip went around that 'Bet-you- a mil
lion's son was out for a good time.
II wasn't long. however. before Gates
was hack at his money making. He
was elected to membership in the
New York stock exchange on March
|, 1901.
Bulled the Market.
The firm Of Harris. Gates & Conn
pany was formed, and Gates began
10 do big business, sometimes with
ais father. sometimes alone. Two
Years later, having bought a seat In
The cotton exchange, he created a SEN
sation by helping William p. Born
and Dan Suily to bull the cotton mar
ket. From that time ON the financial
fconttnusd on Second Pasey