John Warne Gates
Encyclopedia
John Warne Gates also known as "Bet-a-Million" Gates, was a pioneer promoter of barbed wire
who became a Gilded Age
industrialist.
and married Delora R. Baker of St. Charles, Illinois
in 1874. The couple had one son, Charles Gilbert Gates
. Gates graduated in 1876 from North Central College in Naperville, Illinois
.
Gates' career began with a trip to San Antonio, Texas
in 1876 when Isaac Ellwood hired him as a salesman for the Washburn-Moen barbed wire company, and a dramatic demonstration with cattle penned into Military Plaza
.
He later started the Southern Wire Company of St. Louis, Missouri
, which merged with the wire company of William Edenborn
to form Braddock Wire Company, from which Consolidated Steel and Wire Company was organized in 1888. With the help of Chicago attorney Elbert Henry Gary
he created a monopoly in the US wire industry in 1898 with American Steel and Wire Company, which was sold in 1901 to J. P. Morgan
in a deal (also negotiated by Gary) to become part of the new U.S. Steel
conglomerate.
Gates was a founder of the The Texas Company which became the Texaco
oil company. He became influential in the development of the city of Port Arthur, Texas
when he took over the Kansas City, Pittsburg and Gulf Railroad
in December 1899 after he forced it into bankruptcy along with its previous owner and Port Arthur founder Arthur Edward Stilwell.
In a 1900 horse race in England, Gates won $600,000 on a $70,000 bet, which rumors escalated to over $1 million and conferred on him the nickname "Bet-A-Million".
A compulsive gambler, he once participated in a marathon poker game on a train journey from Chicago to New York. After a week of nearly constant play (meals were taken at the poker table), the match ended with about half a million dollars changing hands.
Another story of Gates's gambling proclivities tells of his betting a million dollars on which of two raindrops on a window would reach the bottom first. He lost.
Gates died in Paris, France in 1911, following an unsuccessful operation to remove a throat tumor. His funeral was held in the ballroom of the Plaza Hotel
in New York. He was buried in Woodlawn Cemetery.
.
Barbed wire
Barbed wire, also known as barb wire , is a type of fencing wire constructed with sharp edges or points arranged at intervals along the strand. It is used to construct inexpensive fences and is used atop walls surrounding secured property...
who became a Gilded Age
Gilded Age
In United States history, the Gilded Age refers to the era of rapid economic and population growth in the United States during the post–Civil War and post-Reconstruction eras of the late 19th century. The term "Gilded Age" was coined by Mark Twain and Charles Dudley Warner in their book The Gilded...
industrialist.
Biography
Gates was born in Winfield, IllinoisWinfield, Illinois
Winfield is an incorporated village located in Milton and Winfield Townships, DuPage County, Illinois, United States. The population was 8,718 at the 2000 census, and estimated to be 9,984 in 2008....
and married Delora R. Baker of St. Charles, Illinois
St. Charles, Illinois
St. Charles is a Chicago suburb in Kane and DuPage counties of Illinois, United States, and is roughly west of Chicago on Illinois Route 64. According to a 2004 census estimate, the city has a total population of 32,134. The official city slogan is Pride of the Fox, after the Fox River that runs...
in 1874. The couple had one son, Charles Gilbert Gates
Charles Gilbert Gates
Charles Gilbert Gates of Minneapolis, Minnesota, who had owned the first home in the United States where air conditioning was installed in 1914. He was the son of John Warne Gates, also known as "Bet-a-Million" Gates.-Biography:...
. Gates graduated in 1876 from North Central College in Naperville, Illinois
Naperville, Illinois
Naperville is a city in DuPage and Will Counties in Illinois in the United States, voted the second best place to live in the United States by Money Magazine in 2006. As of the 2010 census, the city had a total population of 141,853. It is the fifth largest city in the state, behind Chicago,...
.
Gates' career began with a trip to San Antonio, Texas
San Antonio, Texas
San Antonio is the seventh-largest city in the United States of America and the second-largest city within the state of Texas, with a population of 1.33 million. Located in the American Southwest and the south–central part of Texas, the city serves as the seat of Bexar County. In 2011,...
in 1876 when Isaac Ellwood hired him as a salesman for the Washburn-Moen barbed wire company, and a dramatic demonstration with cattle penned into Military Plaza
Military Plaza
The Military Plaza in San Antonio dates back to the 18th century as a military and commercial center in San Antonio....
.
He later started the Southern Wire Company of St. Louis, Missouri
St. Louis, Missouri
St. Louis is an independent city on the eastern border of Missouri, United States. With a population of 319,294, it was the 58th-largest U.S. city at the 2010 U.S. Census. The Greater St...
, which merged with the wire company of William Edenborn
William Edenborn
William Edenborn was a businessman, inventor and philanthropist, born in Altena in the Westphalia region of the Ruhr River Valley of the former Prussia, since Germany...
to form Braddock Wire Company, from which Consolidated Steel and Wire Company was organized in 1888. With the help of Chicago attorney Elbert Henry Gary
Elbert Henry Gary
Elbert Henry Gary was an American lawyer, county judge and corporate officer. He was a key founder of U.S. Steel in 1901, bringing together partners J. P. Morgan, Andrew Carnegie, and Charles M. Schwab. The city of Gary, Indiana, a steel town, was named for him when it was founded in 1906...
he created a monopoly in the US wire industry in 1898 with American Steel and Wire Company, which was sold in 1901 to J. P. Morgan
J. P. Morgan
John Pierpont Morgan was an American financier, banker and art collector who dominated corporate finance and industrial consolidation during his time. In 1892 Morgan arranged the merger of Edison General Electric and Thomson-Houston Electric Company to form General Electric...
in a deal (also negotiated by Gary) to become part of the new U.S. Steel
U.S. Steel
The United States Steel Corporation , more commonly known as U.S. Steel, is an integrated steel producer with major production operations in the United States, Canada, and Central Europe. The company is the world's tenth largest steel producer ranked by sales...
conglomerate.
Gates was a founder of the The Texas Company which became the Texaco
Texaco
Texaco is the name of an American oil retail brand. Its flagship product is its fuel "Texaco with Techron". It also owns the Havoline motor oil brand....
oil company. He became influential in the development of the city of Port Arthur, Texas
Port Arthur, Texas
-Demographics:As of the 2000 census, there were 57,755 people, 21,839 households, and 14,675 families residing in the city. The population density was 696.5 people per square mile . There were 24,713 housing units at an average density of 298.0 per square mile...
when he took over the Kansas City, Pittsburg and Gulf Railroad
Kansas City, Pittsburg and Gulf Railroad
The Kansas City, Pittsburg and Gulf Railroad was a predecessor to the Kansas City Southern Railway that was started by Arthur Stilwell in 1897....
in December 1899 after he forced it into bankruptcy along with its previous owner and Port Arthur founder Arthur Edward Stilwell.
In a 1900 horse race in England, Gates won $600,000 on a $70,000 bet, which rumors escalated to over $1 million and conferred on him the nickname "Bet-A-Million".
A compulsive gambler, he once participated in a marathon poker game on a train journey from Chicago to New York. After a week of nearly constant play (meals were taken at the poker table), the match ended with about half a million dollars changing hands.
Another story of Gates's gambling proclivities tells of his betting a million dollars on which of two raindrops on a window would reach the bottom first. He lost.
Gates died in Paris, France in 1911, following an unsuccessful operation to remove a throat tumor. His funeral was held in the ballroom of the Plaza Hotel
Plaza Hotel
The Plaza Hotel in New York City is a landmark 20-story luxury hotel with a height of and length of that occupies the west side of Grand Army Plaza, from which it derives its name, and extends along Central Park South in Manhattan. Fifth Avenue extends along the east side of Grand Army Plaza...
in New York. He was buried in Woodlawn Cemetery.
Legacy
The Gates Memorial Library in Port Arthur was funded by his widow and donated to the city in 1918. Originally the city's public library, Gates Memorial now serves as the campus library for Lamar State College–Port ArthurLamar State College–Port Arthur
Lamar State College–Port Arthur is a community college located in Port Arthur, Texas, United States. The college has around 2,500 students.-History:...
.
Further reading
- Herman Kogan and Lloyd Wendt, Bet-A-Million!: The Story of John W. Gates, 1948, New York: Bobbs-Merrill
- The Cyclopædia of American Biography, 1915, New York: The Press Association Compilers, Inc., vol. 8 p. 61; available online at the Making of America digital library
External links
- Biographical Sketch (with photo)
- Biography of John W. Gates, accessed March 29, 2006
- 1940 biography of John W. Gates, accessed April 1, 2006