t ; : ' = - : ; : ; . : : _ " - - JOHN W. GATES IN MANY \ 111 YS TRUE TY'PE OF AMERICAN A FcVl of thc Striking Episodc3 in lhe Lifc of the Grent Plunger Who Has Raked In Some of the Biggent Jack. pots Known to the Wor1d of High Finance-Has Had Many Year : ; of Unvarying Success. Now York.-John W. Gates , the meal IIIctllro5qll0 plulIer ! who ever rose to fame fH1I1 fortllno In Wall Btreot , haa Icased a grout hllntln ! ; pre. Borvo In Prance , nnd Is wllllllng up the bllslncss of his "Hollso ot 'rwolvo Partnors. " 'lIo 113 thrOIlh [ with Wall atred , wrltos I.'rank 11'nymnt In the ' 1'llIIca. WIHm 11. marl < ol operator ot his lro ) lneaco qllits the slleclllntlvo game In : mediately aHer n dl LBtrollB panic In the llIurket It la bllt no.tural for the grssills of the street to oa : " 'l'l1oy'\'o , ol him at last. " Ever since Oates began Hwlnglng big lines ot stocle In hllll marlwts and runnlnr. nfolll of mon of great power In Wall atreot the 110nlzons of the street have nhook their heads wlnoly ILnd said : " ' 1'hoy'll got him lIome duy. " Durin ! ; the panlcley da's of March , when the rumor mongers were tolln ) ; ot the 11ugo losses 1111In [ ; up against wenlthy operators , they were sure that the "Honso of ' 1'wolvo Partnors" was In lIeell walor. And now thnt the fnntous houRo , that In big marlcots has carried nt tlmen $126,000,000 worth ot stock on mnrgln , Is going out ot business , ! the I'umor mongol's are aaylng : "I I told ) 'oU so , " Dut .John W. only smllcs and saYR : "I wlah they were aU as comfortably fixerl 118 I am. " Ills friends say that ho began trimming hla salla last winter - tor , when stocles were soiling nt 'sky Ilrlcos , and that when the , storm broleo in I\ arch ho had nil his roofa In. 'l'hoy say thl\t ho actlUllly bought atocks lIming the panicky aya of March , and that banks were cal'ryhll ; millions of dollars of free' cRsh for hlll1 whcl1 IJOIIIO "ory wealthy men . were lying nwako nights wondorlng how they woultI make tholr bal'k bal- nnces good the next ay. lIis frlenda thlnl , that he is worth nt least $25,000- 000 , and perhaps 1\ good deal more. So John W. Isn't exactly broko. Barbed Wire the Beginning. It was in barbed wlro that Gates began - gan to build his tortuno. Gates was n poor farmor's hey out west. His first business venture was ontractlng to husk nolghbor's corn. From the money ho saved out ot this work ho made his first spoculatlon. Ho bought n third interest In a threshing machine - chino that came rattling a ross the prD-lrlo after the harvcst. The old , Jarmers shoole tholr heads at this , for It was IJ. tral1lt1oy tho.t the threshing machlno nllLll usually came to financial - cialI'ler. / . Dut it was a year of bump. er crops , and threshing proved so vrofitnblo that before the wlntor came Moa came to him that Ir the farmer would Roll him the tlmbor rights ho could fell the hard wood and cut It np into fireweed to soli to the neighboring villages. ' } 'ho hey went homo atter a tallO mcaSIll'O , Impor and poncll , and then lJUce ) to the woorls "tlmbor.loole. Ing. " Oolng about the woods , solect- lug Arnall arens , counting UIO hard. wooda atlll measuring thelll , ho lot an idea of the density ot the forest. 110 sat down on a stump , and by dint or figuring ho made a rongh estlmato of the number ot cords oC flrowootI an acre would ylohl. 'rhen ho went to the owner to make a bargain. 110 made an error for all the tlmbor , agroolnF ; to pay for It as money came In from his sales of firewood. "I haven't any money , " the boy told the farmer , "but you can have my threshing machine as sccurlty. " "Go ahead , Johnny ; your word is ail ! gootI us a government bond. " Gates as a Woodcutter. .All through the win tor the lad was out In the wood lot before daybreak , worltlng with a wOOllchoppor ho hlrod to help him. 'rho grcat ftrees were fol1od , sawed into short lengths , ancI SIII1t Into firowood. Young Gates de. livered two loads of wood a dllY by sled to the 11clghborlng v1llagcs , Before - fore the snow WIlS off the ground the wood : ' ! had been cleared , the owner had been paid in full , and the boy had $1,000 in the bank , Ho took this money and opened n hardware sh011 at the nolghborlng railway junction , 110 [ 10111 the humors tholr implements and machhwr } ' . Ono commodity that had a largo sale wall the newly Invented - vented barbed wire. The lIttio hardware - ware shop at the junction prospered , but Gates wanted to do something big. gel' . Ho saw Ulat there was money In barbed wlro , and so he sold out his business and went to see the man , in an Illinois town , froDl whom ho had been buying his wlr . This was Col. Isaac Elwood , a pion- eoI' In the buslnoss , 110 Tias 110t looking - ing for partnera , but ho gave the bright young country shopleoopor a job as traveling man tor the can. cern. Gates traveled back and forth through the wheat belt soiling barbed wire , and made 11. reputation as one ot t110 best "d ummerB" on the road. Dut ho wasn't content with his "drum. mor's" commissions. Ho wanted to dlvldo the manufacturing profits with Col. Ellwood , TllO manufactUreI' couldn't see It that war : , and so Gates. . put up a barbed wire mill of his ' His ] mowledgo of the trade own'j . . , I' ' ; 0 . . / - - - - ) 'oung Gates had made enough money to buyout his two partners. At one. . Df the tarms where Ul0 lad had I threshed whea.t he feU lu 101'6 with. . . 'farmer's rosy.cheeked d mghter. This gave him an Incentive to & ; 0 ahead and make a tortune. A farming community away from the rallways docs not present many golden opportunitIes to 111S.yoar.od \ ] boy. Near the farm was a strip ot woodland wHore Gates s11et partridges - tridges aud squirrels. Tramping along a Coot-path In the wood one day U10 . - ' \-O. . . . . . . . . u asset , and he soon became a dangerous - ous rival of Col Ellwood. The colonel brought an action tor Intringement at patent rights and a blUer fight was the rosult. But Gatea hung right on. CoI. Enwood finaUy had to make pea co with him. The two became buslneas partners and ha1'o been closely aUBO' clated In big enterprises ever since. Other bnrbed wire mills bo an to spring Ull , and Gates flaw that there would be disastrous trade war it the rivals were not corrallod. Ho wont around the country buying thom up . . ' . " , " , . . . , , . " , . nn(1 formed a barhed wire trullL 'rhifl wnll the nucleuR of tilO $ ! JOOOOOGi > AmC'rlcn.n SteC'1 & Wire camp/my , now n part of the Btool corpor:1tiou. 'rho l1r5t hlg flotation englnoored by Gates 'ras the Fedeml Steel , n $100,000,000' ' corporation. ' 1'hnt was In Soptctmbcr , I 1898 , at the beglnulnf : oC the grent IItC'Cl hoom tQllowing the Spanish. Amerlc n war. lIe followed that with the American Steel & Wire , with $90- 000,000 capital , fOllr months Intor. 'rhe manner In which Gates and l lIwood broulht ; out thl company is characterIstic - Istic of the man. On n. tolopllono call trom PJttsburg they jumped across Penusylmnla and bought a wire mill nt Sharou : then they went to Clevo. land and bought 11. $5,000,000 rolling mill , anti the next day they were back In Now York to eloso a deal for the purchase ot another mill. The Steel Merger. 0 They plclcod up every thing In sIght , hurrlod to Chicago , nnd , within a weele after the opening of their campaign - paign , UleY had the whole company organized , This Is the way that Gates IIltoS to do things. Gates and all his followers cleaned up fortunes In this flotation. The public appetite was keen for industrial stocks , ospeclally for steo ] stocks , and the conversion of millions of dollars' worth of newly manufactured stock certificates Into the coin of the realm was accomplished - plished In a short tlmo. Two years later the big trust was termed in the steel trade , and the Gates companies were turned Into the merger. Gates wo.nted to go on the steel board , but the chief promoter , Mr. Morgan , wouldn't have It. The banker said he didn't think that Gates was a safe man to have In n , ; reat corporation direc- torate. Mr. Morgan's coldness toward him didn't seem to worry him at all. Not many months later Gates began to pungo heavily in LOlllsvlUe & Nash- vilo. Ho told his friends that it WI1.8 a great property and that It ought to go higher. He and his following In New York and Chicago , which by that tlmo Imd grown to largo proportions because of the money he had m'ndo for them In his steel sloces , put the stock frol11 around par to above $150. ' 1.'he street woke up ono morning to discover - cover that Gates had "cornered" Lou- IsvlUo. The Northern Pacific corner panic was stili tresh In the mind at \VaH street and there was a momentary - tary searo. Dut Gates said ho didn't waltl to hurt anybody. The road looled good to him and he had bought sOln c of the stock. In fact , ho had bouuht the control. Gates didn't have an1 special use tor a rl lroad with 3,3 mUes of track , and ho looked around tor a purchaser. He went to Mr. 'Morgan's office ono morning , and said ; "Morgnn , I own the control of the Louisville. It you , wnnt It or have a 'b'.lyer tor It , you can take It err my hau .is , " Mr. Morgan found a buyer am ! Gates ceaned up n fortune , I. tes Is a born gambler. When ho Wll\l a country shopeooper out In BU- nolll ho BIIent many a night In a "box- cat" on the siding , playing the "great Al'LI6.rlcan game" by UIO 1Ieht of a trainman's ] antorn. "Great financier , ' that man Gates , " exclaimed a railway. . tlr.nan one day , as he saw by 1110 newapaper head1lne that Gates had lD&de : n big coup in Wall street. "We ] m\'lw that before Wall street oer hell.l'd of him , when he raked In the jackpots out at Turner Junction , " waa UIO engineer's reply. Gates bollevoa tlut gambling Is what makes the werld b'O. "Lite Is a gambe ] , " said WI thI ether day. "Everything Is & gl1.ll1ble. When Ule farmer plants h s COl'n he is gambling. He bets that the wonthor conditions wUl enabo ] him to ral j , ) ' 1 coed crop. Sometimes he . , . . , , I loso. , Somotlmes he wina. ver1' man who rrOfJlJ Into buclness gambles. Of conrlle , the element of judgment on. teri ! In , but the element of chance cannot - not be ruled out. Whenever a man startJI out on it railway journey It's a gamble whether ho ever reaches his dcstlnatlon. All lICe is 11. gamble you Bee. " In active marketl ) It hns not been unulSua ] for Gntes to carry 11. line of $26,000,000 or $30,000,000 worth ot ntocles on margin. Sarno of the older men In the street hnve tried again Bnd ngnln to tie him tip , hut they have novoI' succeeded. Gules has alwnys had his oyea open. Whcre ho couldn't sce far en ugh with his own oyeB , h paid somebody else to look out for him. No operator in Wall \ ' \ A81l COIIHTRY .5TORIKEEPER- . . rr ikWv' . &IlTE ; : . . / iJNfJ7'fE 'FROIIJN ' Y : ttqf'ItVC TIJ100 /I r.n/JJJ Y / ' . / } ' , < ; . < : tiI } .J : J . /lltS FlRr5,1 + : JfI' \ / , , , J'PECUJ.IlTIOljff/ ; " . . . , . . . - , . .0' Street ever organized a more elaborate - ate system of getting advance Information - mation or things that would atrect Wall street. When the street was waiting anxiously fol' the final decisIon - Ion In the Northern SecurIties case , and the Union Pacific party believed that it hOod defeated James J. Hill , Mr. Gates one day sent word to Mr. Hili's office that bo had something to toll him. 'rho railroad president walked down Nassau street and across Wall street to the plunger's offico. There ho ] earned from Gutes that the Supreme - premo court decision would be against the Union Pacific , Gates didn't tell how he knew It , but he assured Mr. Hill that he knew what he was talkIng - Ing about. Northern Securities begnn to seer that day , and never stopped untn It had advanced $70 a share. Some days later the Supreme court decision was made public. It was just what Gates said it would be. Gates Is a born bun , Ho has never taken any 'part In bear campaigns , because he's too much of an optimist to bet on stocks going down. Every time during the past six or seven years when the market has had a bad break , the story has gone around that Gates was hurt. The bun market of the fan at 1902 was almost entirely Gates market. Gates and his following - ing put St. Paul nearly to $200 , and were loaded up with stocks when it 'Vus discovered that the Standard 011 crowd had been soutng stocks all the way up , The market conapsed and the Gates crowd toole heavy losses , It Is Gates' pocullar ( amo that he owns , so tar as is known , tbo most sln\1lar ; pleasure craft possessed by a millionaire , It Is 0. sldewheel yacht of uncertain ago , but steady as the proverbial church , and fitted out In a manner that puts to shame Its moro pretentious rivals of th proponor vnrlety. With his wife he has spent much time on this distinctly family seo. olng craft , which pleases him to the point where he tolerates good- naturodly the quips ot his friends on Ita packngcase proportions. .Bman wonder Is It tho.t his liking for pictures hl\s taleen him Into t1e achool caned "phot graphlc" by the critics. HI.8 fnvorlte Is MesBonler and of , the red and blue clad soldiers , courtiers and ladles who troop through that artlst' canvasses he has n goodly company In his Waldorf rooms. And he finds unending delight - light In the brtght colors and clear- cut figures. Of the hordes of newly oreated millionaires - ionaires borne , . .to wan street on the wave at Illduatrial c'omblno.tlons which overwhelmed the couniT ) ' from 1898 to 1901 , Gates waa the most pictur- esque. He has added to that dlstlno- tlon the further honor of ] aBUng the longest and of retiring not without laurols. One may not wonder If It might 110t bo said of him now what he once sRld ot hhnset ] on anoUlor question , that he Is "not broke , but badly bent. " , " RUTH WINS A KINSMAN STOnY OF TilE PERIOD or TUE JUDGES IN ISlIAEL Dy tbe "Ulabway ADd Dyway" Preacher CCO".tljhl,11IV7,1.o1 the AUlhol' , w.II'.d OIl. , Scrlptllre A IIthorItY-"Anll : Doa ? 8all1 unto Huth : It hath rull ' been IIhowl'l1 lI1e. all that tholl hl1st donu unto thy mother-In-law 81nce the denth ot thlno hllDband : ! lnd how tholl hast tort th ' tn- ther antI th ' mother , nn the land or thy natl\'lIy. anl1 nrt como unto a people whh'h tholl ImawlIt not heretofore , " - nuth 2:11j : rcatI nil the chlltltcr. , A.A. . . . . . . .A.A.A.A. .A.A. .A 4 . SERMONETTE. . . . "Whom . not having seen , ye i > < love.-.hcse worda of Peter to . Christians refer to the Christ , . nd arc strikingly pertinent In t. connection with this story of the romance of Ruth and Boaz. < ! This noble and hlgh.mlnded man , Boaz , had heard of the ' ! > 1 celf'iierlflce and devotion of P > Ruth , the MO :1bltlsh : wom :1n : , and r > his appreciation of true goodne3s 1 and worth had arouacd In his F > heart an admiration , yea , a love , . which could have had no other f > Gequel than that which this beaut . tlful love story unfolds. It 10 a oplendld thing to have a heart which Is sensitive to the qU61I1t1es of real goodness. Our perceptions of worthy qualities oei In others are so modified and tempered by the external and sue F > perticlal conditions of wealth oei and social position , that m61ny a 4 human flower of the rarest pureed - oed Ity and grace and beauty Is born ! > oei to blush unseen and unlmown In the busy , occuplcd world about. ! < It Is easy to see the virtues of ' -cd those to whom we may look for favors , but we have little thought or time to spend upon the one t < ! who In his humble , narrow E > sphere Is living nobly , herolcal. Iy , sublimely. . < ! To most of the people In Bethlehem Noami and Ruth were p : . but poor , needy unfortunates. To po. . . . the former the surprised word ! > of greeting on her return was ! > . . . . spoken , and sympathy express. . . ed , and then she was forgotten. ' oei For the latter there was the curious , wondering gaze of the . . . . neighbors and friends and townspeople - people of Naomi , and the unspoken - spoken query as to why she had cj come and what nhe had hope of gaining. ! > But to one person at least In Bethlehem there came an appre. : elation of the purity and . strength of c-haracter of Ruth. He heard of Naomi's return , and . . being a 1 < lnsman of her dead : husband he might have felt an. . noyed at the thought that here was a poverty.strlcken relative ci who would make drafts on his i > bounty. He heard of the coming . of he daughter-In.law , and he . . . might have listened to the up- < 1 < lndly criticism which must ' have been dropped as the 4 strange woman from a strange . . land came Into their midst. Wha\ ! > 1 scheme had she In coming ? What selfjsh purpose had she = to serve ? Suspicion of her mo- tlves and contempt for her na- . tlonallty and her poverty might . : have so prejudiced his mind as . oei to blind him to t e rare womiin- . Iy virtues which she possessed. But his love for real goodness was so keen and genuine , and . . . his high-minded judgments so J o free from bias and Impure mo- tlves that he was able to under. p. stand fully "all that Ruth had done , " and though he had not seen her , he loved her. His was not a sentimental , supe rflclal --4 love. It was such a love as only P' , a good , pure , strong heart can --4 feel as It flndll those qualities In another , for purity loves purity ; I goodness loves goodness. : V'V'V'V'V'V'V'V'T'V'V'V'V'V'V'V'V'V THE STORY. OAZ was absent from Bethlehem B at the Ume of the return of Nnoml nnd her daughter-In-law , Ruth , but ou 'his reaching home this bit of news was among the flrst to reach his ears , for the townspeople had not yet censed , to gossip concerning the event , In fact he had scarcely gained the gate of his "ilInge before ho was surrounded by a group of neighbors who poured into his 'Interested ear all the story of , Naomi's me and misfortunes In the land of Moab , and of her having lost husband and sons there , and of her reo turn In sorrow and poverty to the old home she had left oyer ten years be- fore. , "Ellmolech might better have taken your advice and stayed in Bethehem ] , " ojacuated ] one , as the story was fin. Ished. "Yes , " responded Doaz , sndly ; "I , have often wished that ho had listened to mc and been content to remain. From what you tell me , ho could not have tared worse had ho done so. Ellmelech and his two sons dead and only Naomi ] eft , " he repeated , halt to hlmselt , meditatively. "And what ot Naomi ? " ho added , after a tew min. uteu' pause , as hlB thoughts turned from the dead to the Hvlng. "You say she hus brought II. l\Ioabltlsh woman with her ? " "Yea , her daughter.ln.aw ] , Ruth , wlte ot Mahlon. "And they do say she is devoted to the old lady , but some strange motlvo must have brought her from her country and her [ leople , for Naomi hath nothing to offer hor. In fact it does seem that bel' comIng I n1l\lees Naomi's lot the haraer , for' ' - - - - . . - . there Is ' , n' moro mouth to teed. Everyone Is talking about the mattor. Was .It not tolly enough thal Naomi's sons should have married contrary to the law of 181'11.01 , : tnd now must wo hn'\'o constant reminder of their sin by the coming Into our midst of thl9 Monbltlsh woman 1" "But ( Ud Naomi urge 1101' . to como ? " ar.ked Doaz. ' No , " ndmltted the ether ; "It seems that. hoth daughtors.1n.law started to return with her , whrm she robulccd them nnd bndo them return to tholr homes and tholr ppople and their gods. This , Orphu , the wlto or Chllion , dltI , I but Uuth clung to her mother.in.law , declaring that whither she wenl she would go. " "But hnd she no ( rlends to go to anIong her own people that she should malto such cholco ? " ILSked Doaz. . "Had she , not , I do not think that Naomi would have . so urged her to re- tUrn. " "Did ahe not give other reason for wanting to como ? " "Yes , I bellovo I dtl hear some ono sa ' that Naomi had told them that Ruth had renounced the gods of her people , sa 'lng that uho had como to know thnt they werl ! no gods at all , unll that she could nClt return to serve them. " "And do os she believe in the Goll of , the HoIJIows : ? " ques\loned \ Doaz , who was a devout Israelite anti served God with loyal whole.heartedne3s. "Yes , " the otber went on to ex- plnln ; "this woman , Ruth , It Is snld , clung to Naomi , pleading that as she had chason the Hebrew people as her people and the Hebrew God as her God , sbe be pormltted to return witlt I her. " "And slnco coming thither , 110W bath she done ? " Boaz continued , persisting in his questioning , for be Imd pOl'- celved at the very 1Joglnnlng , when 1 they had begun to tell him or Naomi's return , that there was a projudlce against the Moabltlsh woman who 1md come with her , and he was too fall'- minded to condemn her hastily and on too insufficient evidence. "Her w ole thought has seemed to bo for the comfort of Nnoml , and it must be admitted that she has worked unceaslngl ) ' to provide for their slm. plo wants , " was the admission , "Yes , " spoke up lmother , "and when the neighbors and friends of Naomi would have provided for them , Ruth declared that she had COple not to be n burden but a help , and many is the deetI of kindness which she hath found time to do while yet busy with the ' --t. , tasks which would buy them aheUer and rood. " ' ' 1'he drift of the conversation having been started In UlUt direction , ihere ! were ethers ready to tell of Incidents' In which Ruth hatI displayed her sweet , selt-sacrlficlng devotion to her mother-In-law , and also of her faith In the God or the Hebrews , so that when Doaz had left the group and gone on to his ownhomo he had much to think about. Naturally he felt special Interest .in Naomi , because she was the widow of his near relative , Ellmelech , but wh } ' should ho trouble himueU about this l\Ioabltish woman ? So he thought as his mind ] eept recurring to Ruth. During the busy da's which followed , for the barley and whe t har'\'ests wore near at hand , and ho had much to look arter , he could not rid himself of the thought , and lIe went over and over again In his mind all that be hall . . heard concerning Ruth , First of all , he settled in his own mind that her motives for coming to Bethlehem were purely unselfish , tor the strange land and strange people could not offer her the same certainty of homo and friends which her own land would have done , Then that she was slncero In her desire to have the Hebrew God as her God was manifest from the dovotlon which she had shown since her arrlva ] In Bethle- hem. So , as the days went by , th desire grew up in his heart to aeo hor. Ho had reached an ago when he felt he was beyond sentiment , and for this reason he could not quite define or un. derstand the stlrrlngs within his own breast. Ho knew ho grew Into the habit of Hstenlng for some tidings of Ruth , and moro than once ho ques. tloned his neighbors and friends concerning - cerning hor. In this way he became familiar with every detail , almost , of her me In Detillehem , and leamed much of the story of her mo before coming to Dethlehem , for pcople did not seem to tlro of the gossip which centered about Naomi and her Moab. Itlsh dnughter-In.aw. ] "She must bo a good woman , " Donz . would say to hlmseU. "I am glad she , has come to Dethlohem , " and ho would go on picturing to himself his homo with such a woman 11 it , Then he would laugh and shako off the "spell , " as he would call ft. Dut Ruth on his 0 lips came to be a sweet word , and , Ruth came Into his thought as though . she had somehow always been thero. i So It went until , during the midst ot I the barey ] harvest , he came Into his field one da } ' and , while talking with the toroman of the reallers , his aUen lion was attracted to a figure qUlotl } . fonowing 111 the wake of tile men a ! ! the } ' cut and gathered and stacked the grain. 'WhofJO damsel Is tbis 1" he asked. anll wbl1e the words were being uttered - tered , and before the servant could rOIJly , there came the wblsperlng answer - I swer 111 his henrt , "Ruth. " An as ho looleed upon bel' , even .bo- fore ho had alloken to her and sbe hall mn\1o reply , ho know that his heart had been conquorod. ! , Swinburne Writing. . Tragedy. Algornon Charles Swinburno , ' tilO poet , is engaged In writing a new , u'uge y , the aubjelt : of which Is Ce. --t. : . . su\'o Borgia. . , , . , . . . . ' , , . " ' I . " " " , . . . ' 1