Rensselaer Journal, Volume 12, Number 19, Rensselaer, Jasper County, 16 October 1902 — GATES GATHERS IN MILLIONS [ARTICLE]

GATES GATHERS IN MILLIONS

Clears From 30 to 50 Points on Louisville & Nashville Btock. New York dispatch: John W. Gates, according to estimate of the street! cleaned up from six to-ten million dollars clear profit by his L. & N. deal. He is credited with having obtained his shares at between par and 120. He turned them over to Morgan at 150. Thirty points on every share must (certainly have been the least of his profit, but as he is known to have begun buying heavily at par, It is equally certain that he netted as much as fifty points on a large part of his holdings. The deal is considered as having been one of the most profitable and cleverly executed in the history of the street.