The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1927-08-15
JUDGE. GARY,
Steel Chief,
DIED TODAY
Announcement Made Seven
4 Hours After Death by
Attorney.
NEAR 81ST BIRTHDAY
Chairman of Monster Cor
poration Was in III Health
Last Few Weeks.
(story Of Judge Gary's life is printed
on page 10).
NEAR s1ST BIRTHDAY
(story Of Judge Gary's life is printed
on page 10).

Bu United Press
NEW YORK, Aug. 15.-Judge
Elbert H. Gary, one Of the founders
and almost to the moment of his
death the active head of the United
States Steel Corporation, died at
$40 a. m. today.
He died as he had often indicated
he would die, still in active control
of the tremendous business enter
prise of which he was the guiding
spirit for twenty-six years.
Had he lived until Oct. 8, he
would have celebrated his 81st
birthday.
Until a month ago, despite the
fact that he was 80 years old, he
had been at his office each day,
handling the affairs of the concern
which was Americas first billion
dollar corporation and until recent
years its only one.
Skill Of No Avail
Then q heart affliction, which he
had long fought off, began gaining
the upper hand and he was forced
to retire to his home. He was un-
able to attend the last directors
meeting of the corporation, one OF
the few ever held without Judge
Gary sitting at the head OF the
table.
All possible medical attention was
summoned to save this veteran OF
finance and industry who starred
life as a $12 a week clerk, became
stenographer, then a lawyer, a
Judge and finally of the greatest
mowers in world industry.
But all the skill his vast fortune,
ranked among the ten largest IN
the country by many persons, couio
euinnon was of no avail.
Keep Condition Secret
Yesterday, it vas understood, his
condition became more serious, puI
even then neither he nor his asso-
ciates despaired of recovery. :.
News of Judge Gary's illness at all
times had been carefully guarded.
The public knew he was in Ill health
and that was about all.
That was because Wall Street Tor
wears had thought about what
would happen when Judge Gary
died. For years the market had re-
sponded to his every word. His
speeches always were the signal for
some new treRd in the financial
market.
Many were openly apprehensive
as to what might follow, should
Judge Gary die.
Little Market Disturbance
Although he died early this morn
ing, announcement Of his death was
withheld until II a. m.
Chronic myocarditis was given as
the immediate cause of his death. II
is an Inflammation Of the muscular
wall Of the heart.
The fact that his death had but
Slight effect in disturbing the mar
kets was considered by close OBJ
servers as a healthy indication as
to the condition of the present fl
nancial structure.
Judge Gary long had been under
strong pressure from groups o1
stockholders in the Steel Corpora
ton, to increase the dividend rate
Several times it seemed that an at
tempt to unseat him, because of hi'
insistence on building up huge re-
serves and paying less in dividends
might succeed. But he always
weathered the storm and emerged
smiling and unscathed, continuing
to rule with a firm hand the greai
industry which he headed.
Discuss Successor
AS to his successor, Wall Street
has already had It's fling in the las
three years at naming the new heac
Of the Steel Corporation. Dwight
w. Morrow, member of j. p. Nor.
gan & Co., was considered a yea
ago as in line for the position.
Former Governor Nathan l.. Mil.
ler of New York, attorney for tn,
Steel interests, was also believed {
likely man, and within recent weeks
Pierre Dupont, because OF his heav,
interest in the Steel Corporation
and his close association with tn,
Morgan group through their join
control of General Motors Corpora
tion, was advanced as probabl,
successor.