"The founding of the company in Colorado was an accident. The two Gates brothers came here after graduating form the University of Michigan as mining engineers to engage in mining. When this business did not pan out, they invested their capital of $1500 in leather halters and gradually branched out into the rubber business. They formed a closed corporation and have developed a business, which in 1940 sold 16 million dollars worth of goods. Their payroll of $4,3000,000 was distributed among 3,200 employees….
"Five thousand different articles are made by the company. About 30 per cent of the business is devoted to the manufacture of tires and tubes-70 per cent of the products being other types of rubber goods."
Source: “Gates Rubber Company,” in “Industry and Commerce, Sketches of Denver,” Writers’ Program, Colorado, Colorado Historical Society Library, [1940]. From Doing History: Keeping the Past. University of Northern Colorado.
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