If I close this gate will all the other oblivian gate cease to generate. I don't want them to stop until I have about 55 or 60 ? Thanks

If I recall correctly, Oblivion gates do not stop spawning until after the main quest is completed, so no, gates will still spawn after that gate is closed.

If you close the big gate, you close all three that appear near Bruma during the mission.

But note that you can't farm the lesser gates- if you leave the area (except for the Great Gate,) Martin dies within 15 seconds, causing you to reload.

If you want to close all Oblivion gates, you need to finish the Main Quest.