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John GatesIndustrialist of the Gilded Age
Date of Birth: 18.05.1855
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Content:
- John Warne Gates: The Man Behind Barbed Wire and Gambling Legends
- Coiling the Barbed Wire Empire
- Monopoly and Consolidation
- Oil Exploration and Industrial Development
- Legendary Gambler
- Legacy and Passing
John Warne Gates: The Man Behind Barbed Wire and Gambling Legends
Origins and EducationJohn Warne Gates, born on May 18, 1855, in Winfield, Illinois, embarked on his journey in 1876. After graduating from North Central College in Naperville, he ventured to San Antonio, Texas.
Coiling the Barbed Wire Empire
Gates's career took off when Isaac Ellwood hired him as a salesman for Washburn & Moen, a pioneering barbed wire company. With a dramatic cattle roundup demonstration in San Antonio's Military Plaza, Gates established himself as an astute marketer.
Subsequent ventures led him to form Southern Wire in St. Louis, Missouri, and merge it with William Edenborn's company, creating Braddock Wire. In 1888, Braddock Wire became Consolidated Steel & Wire.
Monopoly and Consolidation
With the help of renowned lawyer Elbert Henry Gary, Gates secured a monopoly in the U.S. barbed wire industry by 1898. In 1901, he sold American Steel & Wire to J. P. Morgan's conglomerate, where it became a subsidiary of U.S. Steel.
Oil Exploration and Industrial Development
Gates played a pivotal role in the establishment of the Texas Oil Company, which evolved into the Texaco brand. His acquisition of the Kansas City, Pittsburg and Gulf Railroad in 1899 fostered the growth of Port Arthur, Texas, where he became a prominent figure.
Legendary Gambler
Known as "Bet-A-Million," Gates indulged in extravagant gambling. A poker marathon from Chicago to New York, where players ate at the table and barely slept, netted him over $500,000. Another tale has him losing a $1 million bet on the outcome of a raindrop race.
Legacy and Passing
John Warne Gates passed away in Paris, France, on August 9, 1911, after an unsuccessful surgery. His funeral was held in the grand ballroom of New York's Plaza Hotel, and he was laid to rest at Woodlawn Cemetery.
Gates Memorial Library in Port Arthur, funded by his widow, serves as a testament to his legacy. Today, it is part of Lamar State College-Port Arthur's campus, ensuring his philanthropic spirit continues to inspire generations.
