"Madge" Wallace was the daughter of George Porterfield Gates, co-founder of the local Waggoner-Gates Milling Company, a successful business that made the family extremely wealthy by local standards.
Sources
"United States Census, 1920," database with images, FamilySearch (https://familysearch.org/ark:/61903/1:1:M8HC-ZJ7 : accessed 13 July 2015), Madge Gates Wallace, Independence Ward 1, Jackson, Missouri, United States; citing sheet 14A, family 335, NARA microfilm publication T625 (Washington D.C.: National Archives and Records Administration, n.d.); FHL microfilm 1,820,923.
"United States Census, 1930," database with images, FamilySearch (https://familysearch.org/ark:/61903/1:1:XHF3-YGK : accessed 13 July 2015), Madge G Wallace, Blue, Jackson, Missouri, United States; citing enumeration district (ED) 0244, sheet 6A, family 172, line 14, NARA microfilm publication T626 (Washington D.C.: National Archives and Records Administration, 2002), roll 1192; FHL microfilm 2,340,927.
WikiTree profile Gates-711 created through the import of Carp-1_2011-12-15.ged on Dec 19, 2011 by Lyman Carpenter.
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G > Gates | W > Wallace > Margaret Elizabeth (Gates) Wallace