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The Coeur d'Alene press. (Coeur d'Alene, Idaho) 1906-1907, August 12, 1907, Image 3

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JOHN W. GATES.
NAPOLEON OF FINANCE WHO IS ALWAYS READY TO
BET A MILLION.
Nerviest Gambler That Ever Matched a Penny Prefers to Piay
For Big Stakes—Likes to Keep Raising the Limit—Sorry
He Could Not Lose More When He Lost $35,000 In
One Game—Jolly, Good Natured and Likes to Joke.
J OHN W. GATES, whom « rigid
moralist might describe as an all
round professional gambler, Is
to retire from Wall street. The
brokerage firm of Charles G. Gates &
Co., the biggest and boldest In the
United States, announces Its dissolu
tion about June 1. Though "Son Char
lie" Is nominally the head of this Arm.
John W. Gates aa a special partner is
tbs power. Mr. Gatqp and his son are
going to travel and rest, so the son
announces, for a year or two.
"Travel and rest" for Gates senior
does not mean guidebooks and min
eral water baths. It means going to
places where gambling games abound
and sitting In at the games. It may
be poker or faro, or it may be horse
races. Anything goes with Gates Just
so It's a gamble. Mr. Gates is the,
nerviest gambler that ever matched a
penny or bet a million. "Bet you a
million" Is one of his favorite remarks.
He's always ready to bet a million,
ho* If the other fellow doesn't happen
to have a million In his pocket Gates
is Just as willing to match quarters
for the drinks. Some men are born
that way, and Gates Is one of them.
According to Mr. Gates, life Is all a
gamble. You take chances when you
take medicine. You take chances
when yon take a trip. You may win,
and you may lose. It's all a part of
the game. By making the, chances
Mgger you make life more Interesting.
JOHN W. GATES AND SOME OF HIS DIVERSIONS.
Following out his theory, Mr. Gates
always prefers to play for the big
■taksa. He likes to keep on raising the
limit
Not long ago, It Is related, Mr.
fates went to Saratoga and visited
Canfield gambling bouse.
"What's the limit?" he Inquired.
"The roof," replied Canfield, who
>w Gates.
Faro was the game. Gates was game
t He spent the evening at the table,
taking and smiling, lost $35,000, at
* «te of $100 a minute, and remark
that he was sorry be hadn't had a
«nce to lose more. The roof was too
>w.
Scarcely a state In the Union or a
>uqtry abroad Is without Its localities
hlch abound In stories of Mr. Gates'
mbllng exploits. The farm near Tur
ir Junction, 111., where he was born
.brought up furnishes the first In
"Bet you 10 cents." said
toortsen-year-okl Johnny Gates to a
"that I can jump off the
of the born Into the branches of
that tree and 'light on the ground
without brookin' my neck."
How He Won His First Bet.
The boy took the bet, and Johnny
feok the Jump. He lauded safely and
** tte c to d the 10 cents. He has been
collecting or losing stakes ever since.
Wan street says that he is a big loser
the great Mump of last March and
■hat that la why he is quitting the
•■te. Gatos has got cold feet says
w *{J street for Wall street Ilk# the
jef the gambling contingent talks
gamblers' slang. But nobody ever yet
saw Gates get cold feet In a poker
game, and those who claim to know
him best declare that his feet are still
comfortably warm, being clad with
furry slippers worth about $25,000,000.
That estimate of the Gates wealth of
course Is conjectural.
Gates was raised on his father's
farm. He was born May 18, 1855. His
brother Gilbert, a little older, was mur
dered in Missouri when John was
about seventeen years old. Gilbert had
been traveling westward with a man
named Alexander Jester. After the
boy disappeared his belongings were
found In Jester's possession. Later his
body was found, the skull crushed.
Jester was arrested, and John W.
Gates went to Paris, Mo., and got a
good look at his brother's murderer In
jail. Jester soon broke Jail and made a
good getaway. John Gates swore he
would run the fugitive to earth.
"Bet you I'll find him,'' he said.
It was twenty-eight years later when
the multimillionaire, steel magnate,
corn oomerer, stock plunger and gen
eral Napoleon of finance received a tel
egram while sitting In a game at Sara
toga that gave him hot feet Instead of
cold. He hotfooted for an Oklahoma
town, where his detectives had cap
tured a man of the name of Hill.
Gates Identified the prisoner as Alex
ander Jester. The man was taken back
to Missouri and tried for the murder
of Gilbert Gates, but owing to the
■ieath of material witnesses it was lm
possible to convict him. The trial was
one of the most celebrated in the an
nals of the middle west. The chief fig
ure other than the defendant was John
W. Gates, Just then at the ontset of his
greater repute as a plunger. He was
one of the witnesses In the identifica
tion of the aged prisoner.
Gates followed Alexander Jester
with no less persistence than he has
followed throughout life his own theo
ry of the great game of existence. It
Is a theory by no means to be recom
mended to the average youth, because
the average youth lacks the Gates
brand of business activity. Gates Is a
scientific gambler in the main. He
studies the game far ahead, so that be
can see where to Jump. Just as he look
ed well before he leaped from his fa
ther's barn.
Gave His Son a Million.
Gates got a fairly good education in
in Illinois college, leaving school at
eighteen. Before he was nineteen he
jot married. Miss Dellora Baker,
laughter of a neighboring farmer, was
the bride. Three days after reaching
Ws twenty-first birthday he became
the father of Charles G. Gates, and
when the son was about that age the
father presented him with a million
lollars for a Christmas gift.
"A little starter for the boy," ro
narked the food parent
Gates senior made his own start
He saw a patch of woods near his
lome and figured out bow many loads
of stove wood It would make and how
orach he could get per load. He con
tracted for the wood, cut it himself
with the aid of a hired hand, peddled
it around and made a profit of $1,000.
With that he opened a little hardware
and grain store <it Turner Junction.
Just about that time there came into
the market a commodity that has had
much to do with changing conditions
in the great west and southwest.
Somebody invented barl>ed wire. Young
Gates at once saw its possibilities In
the fencing of the prairies and the
plains, where timber fence material
was scarce.
Just here It may be in order to In
sert the statement that the present
steel trust officially known as the Unit
ed States Steel corporation, la an oat
growth of Gates' divination in the
matter of barbed wire.
Won Bet From Cowboys.
Gates went to Isaac L. Elwood of
Chicago, who was manufacturing the
new wire, and got a Job as traveling
salesman. He made for San Antonio,
Tex . where he bet all the money he
had tbnt he could build a fence of wire
that would turn any Texas steer that
loped the plains. The cowboys took
his bet. Gates billlt a barbed wire
corral In one of the plazas of the city.
1 sorrowed twenty s'eers, turned them
In and dared the cow punchers to run
them out. He won his bet and sold so
much barbed wire that hls little sal
ary of $100 a month looked like a lead
nickel with a hole in It.
Drummer Gates returned to Manu
facturer Elwood and demanded that-he
be taken into the firm. But Elwood
had patents on barbed wire and was
deaf on the side next to Gates. The
latter threw up bis Job and took
chances. He had studied the game.
He didn't believe that the patents
would hold. Going to St. Ixxils, he
Induced a friend to embark with him
In the manufacture of barbed wire.
The two started a little plant. Gates
went out on the road and sold the
product. Money was coming In rap
idly.
Elwood ran down to Missouri and
secured an Injunction against the firm
on the ground of alleged infringement.
That night Gates loaded hls factory
on wagons and crossed over the Ends
bridge into the state of Illinois, where
he eontlnued the manufacture of barb
ed wire. At last the courts declared
the patents Invalid, so that anybody
might take a whack at the business.
So many factories sprang up thnt aft
er a few years Gates concluded that
he would go Into the consolidation
business. The result was the Ameri
can Steel and Wire company, which
still later, about six years ago, was
merged Into the billion dollar steel
trust of today.
Gates, It Is said, first suggested that
mighty merger, ne unfolded hls idea
to James J. Hill. Mr Hill told J. P.
Morgan, Mr. Morgan sent for John
"Wire" Oates, who talked him to a
standstill. The upshot was that Car
negie. Frick, Schwab and all the rest
came into the huge corral which the
ex-drummer built around the steel
business.
Planned a Surprise For Morgan.
When the big steel trust finally come
into being. Gates naturally expected
to be made one of the directors. Mor
gan. however, did not fancy the Gates
methods, so the man who had sug
gested the merger was left out of Its
management. Gates quietly and grim
ly planned a little surprise for Mor
gan. He went to work and bought up
Louisville and Nashville shares until
he had wrested control of that road
away from Morgan. Then be went to
Morgan and sold it back at a big profit,
whereat Gates chuckhtd gleefully and
the Morgan frown acquired an extra
wrinkle.
Gates made Chicago his headquarters
after proving that he could make and
sell as much barbed wire as he pleas
ed. It was after the first election of
McKinley thnt he organized "the Chi
cago crowd," which swooped down on
Wall street and showed the conserva
tive Gothamites Just how lively the
stock gambling game could be made
by the Injection of western activity.
The Gates plungers made the rest of
Wall street gasp. The gasping last- [
ed for several years—until present j
writing. In fact. The announcement |
that the Gateses are to pull up stakes
and get out has been received with a !
gasp of relief. With Ofites eliminated j
the remainder of Wall street will j
know with a greater degree of certain
ty what Is going to happen next.
How He Exercises.
Mr. Gates Is still comparatively j
young, and he may get Into the Wall
street game again. This he seems
sure to do unless he finds sufficient ex
citement In poker, faro, racing and
other of the gentler forms of gambling
which he essays for mental exercise.
For physical exercise he takes to golf,
the strenuous, and croquet, the simple.
In hls earlier days he was an expert
trap and wing shot, an<3 he still likes
to bet another man that be can l»eat
him at a billiard game. Europe has |
not forgotten how Gate* won half a
million dollars on a selling plater
named Boyui Flush. Of course a po
ker player would bet heavily on n
horse with that name. Nor has Joe j
Loiter, If the story be true, forgotten
the poker game with Gales on a train 1
between Chicago and New York, In
which loiter lost $900,000. Wherever
Mr. Gates may go "for travel anil
rest" the public is reasonably sure to
follow his trail.
Personally John W. Gates is Jolly
and good natured. He likes n joke
and can make one himself. Ouce In
a Fifth avenue hotel he lift stud upon 1
paying for the drinks, though another
man was the host of the occasion. A
nervous waiter accidentally upset two
highballs that were on the table. The
liquor splashed over the clothes of Mr.
Gates.
"I'm right" he said—"the drinks an
on me."
THE ROLL CALL!
Mrs. Robert Muncey
Mrs. W. 8. Landt.
Mrs. J. M. Elder
Mrs. J. W. Malkstm
Mrs. F. G. White
Mrs. D. F. Mason
Mrs. F. A. Blackwell
Mrs. M. E. Tallman
Mrs. A. V. Chamberlin
Mrs. F. L. Both well
Mrs. A. B. Carscallen
M rs. H. Sjiarshott
Mrs. G. W. Schjoth
Mrs. Frank Cooper
Mrs. R. White
Mrs. H. E. Keller
Mrs. M. E. Leighty
Mrs. I). Rohards
Mrs. T. A. Weeks
Mrs. 8. E. Davis
Mrs. Eli Ethier
Mrs. Otto Nichols
Mrs. Ilenry Schneider
Mrs. Charles Young
Mrs. Katie Deeper
Mrs. John C. Rosen
Mrs. R. R. Smith
Mrs. S. Smith
Mrs. George Evans
Mrs. Francis Dingier
Mrs. George Read
Mrs. W. K Alkire
Mrs. A. W. Wendorf
Miss Sadie Elgee
Miss Florence Acres
Miss Viola McCartor
Miss Rlunche Blackwell
Miss Grace Saw ley
Miss Clara Rauch
Miss Emma Rauch
Miss Marie Thunberg
Miss Alta McKelvey
Miss Rose Rioth
Miss Christie Casperson
Miss Kate McDonald
Miss Mayzie Kipp
Miss Elvada Lantzv
Mr. F. C. Swan
Mr. A. A. Braun
Mr. L. G. Willis
Mr. Joseph Fisher
Mr, George G. Carlyle
Mr. Harry Porter
Mr. Steve Curry
Mr. G. 1*. Beard
Mr. J. W. Wiggett
Mr. Paul Elder
Mr. Frank Norton
Prof. Austin
Mr. T. L, Quarles
Mr. L. Augusta
Mr. J. A. Pinkerton
Mr. R. K. Lambert
Mr. Charles Perrenoud
Mr. Hugh lAiult,
Mr. Laverne Carver
Mr. Gus Klopf
The above is only a partial list of Dr. Pfister's patients in Coeur d'Alene.
In the majority of c ases, Dr. Pfister's method is of such great benefit that the
patient is enabled to lay aside glasses in a short time. Many of the above have
done this. Dr. Pfister has nearly 500 patients in Coeur d'Alene; over 17,000 in
the Inland Empire.
BONA FIDE STATEMENTS
Prof. Austin, of Coeur d'Alene, Ida.—The
glasses you fitted for me five years ago are as
fine today as the day l got them. I'll gladly
reoommend you to any one requiring the ser
vice of a competent specialist.
Mrs. J. M. Elder, Coeur d'Alene, Ida.—
"After two years' use of the glasses you fitted for
me, 1 find them at) satisfactory as eve' 1 ."
Joseph Fisher, 8t. Maries, ldu. — "1 find the
glasses yon furnished me excel lent in every respect "
Mrs. A. V. Chamberlin, Coeur d'Alene, Ida.—
"Your glasses have proven very satisfactory in re
lieving me of headaches."
C. G. Crawford, Hazelwood Co., Spokane,
Wash.—"Your glasses have put a complete stop to
my wife's headaches."
H. J. Rogers, The Comet, Wallace, Ida.—
"My little girl's eye w«s budly crossed and after
wearing Dr. Pfister'e glasses 18 nionhts is entirely
straight. "
Wm. Bollinger, Bollinger Hotel, Lewiston,
Ida.—"The glasses I got from you give me great
comfort. After weuriug them one week my eyes
are much better."
E. L. Liggett, State Insurance Commission
er, Boise, Idaho. — "1 take pleasure in milling tuy
testimonial to your ablity in the treatment of the
eye in fitting glasses. About two years ago I bad
• pair fitted by you, after aeveral years' Ineffect
ual attempts by other persona, and am still wear
ing your glasses with the greatest comfort. 1 shall
take pleasure at any time to personally recommend
you and your system to enquirers."
Miss Minnie Binnerd, Lewiston, Ida. "Aftar
consulting leading Spokane and Portland special
ists who utterly failed to help me, I went to Mr.
Pfister, who preaerlbed gimmes for me, whioh gave
me great comfort and relieved me of my headaotiee
and uerviousneaa. When in Hau Francisco I had
occasion to visit a physician, the leading specialist
of that city, who told me that Dr, Pfister had fitted
my glasses better than be oould, and that in my '
nervous state hls work was almost marvelous."
B. N. Niobolls, 2211 Gardeu street, Spokane,
Wash.—"1 was practically blind when Dr. Pfister.
took charge of my oatie; I could not open my eyas
to the light. But through hls offoits I was speed),
ly oured. 1 know of meny others ho bea helped to
as great an extent.
Gus Klopf, of Rathdriim, Idaho. I had been
to specialists in Spokane end Seattle who utterly
failed to help me. Five years ago went to Dr.
Pfister end from him got my first sutisfaotory
glasses. I am still wearing them.
SPEED A GREAT FACTOR
In order to obtain good results it is necessary to examine eyes before they
tire. The long drawn out tests | reading letters on a card, etc. | employed by
many are put to rout by Dr. PH-.tor's method, which requires only about ten
minutes for examination. He is the only one using this method in the entire
west. When his instructions hit carried out, failure is impossible.
DR. PFISTER'S GREAT SUCCESS
Is due to his unsurpassed skill in Optometry, judgment and straightforwardness. He is from St. Paul, a
State graduate of Minnesota, and the only one in this state who has passed such an examination. The west
abounds with correspondence school "diplomas." Don't be deceived by one. Dr. Poster's reference is the Minne
sota State Hoard of Optometry, State Capital, St Paul, Minn.
DR. PFISTER CAN STOP HEADACHES
No matter how severe or how long standing, and prevent the decay of your nervous system. Ninety per
cent of all headaches and nervous troubles are due to eye defects. Stop using drags, ns they have a depressing
efleet upon the heart and poison the system. Stomach tremble, dizziness, neuralgia and all nervous disorders
disappear after the strain ha* been taken oil the optic nerve and the brain, as many of the above patients will
testify.
Cross Eyes Straightened Without Pain or Operation
LENSES GUARANTEED FOR FIVE YEARS
AU lenses presented by I>r. Pfister are guaranted for five years; any changes necessary within that time
being made free of charge His charges are unusually reasonable. Owing to the alarming increase in blindness,
everyone is cautioned toexercise great care in the use of their eyes, and to have them examined frequently.
DR. JOS. J. PFISTER
The noted eye specialist, who has been visiting Coeur d'Alene for the past seven years, may be consulted at
HOTEL ANTLER, COEUR D'ALENE
From Thursday Aug. 15 to Wednesday Aug. 21
There will be No Charge for Examination.

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