The Washington times., 1911-11-24
gave 'EXON[RAT|ON'
TOSAYE MITE LEFT,
MERRITT DECLARES
Steel Witness Calls Rookie
feller Version Of Alleged
Squeeze" Wrong.

Differing greatly with the Rockefeller
version of teh deal. whereby the oil
king is alleged to have "squeezed" the
Narritt brothers, Minnesota lumber
Jacks" out OF a fortune Of some N.00o.-
900. Leonidas Merritt made answer to-
day to the statement issued last night
nom 26 Broadway. In this statement
Mr.. Rockefeller denies the Merritts'
story before the Steel investigating COM
xnittee.
II hope Rockefeller will take advan-
tage of his opportunity to appear be-
fore the Stanley committee, as / did,"
said Mr.. Merritt II promise him he
will not be insulted by my attorney as
was insulted by his
I'VE put into evidence the so-calTed
exoneration Of Mr.. Rockefeller, in
which we relieved him Of the charge of
misrepresentation. 1t was signed to
save the mite Of our money left, as
Rockefeller attorneys said, unless We
had no funds % to fight it out In the
courts. after Rockefeller had secured
a. g reSsrssl sS;a sSH Of my verdict against him
1.-THE whole story is this: I went to
New York in 1893 with securities worth
100000: put them up for a loan of
less than a million from John D., and
within two months, was told to walk
Oack home to Duluth"
Cleared Big Profit.
Mr.. Merritt says Mr.. Rockefeller took
his stock over at the rate Of SO a
share and that a few years later John
D. turned It into the Steel trust at
e20s per share.
In the statement issued last night
from No. rs Broadway, with authority
Sa,,s Sf Mr.; Rockefsllsr" T. is denied the
Merritt brothers. Mr.. Rockefeller also
quoted from an exoneration signed by
the Merritt brothers and ''all the other
members of the family"
In this exoneration, dated January %,
1877, at Duluth, the Merritts say they
were mistaken in bringing into court
charges Of MISREPRESENTATION and fraud
The Merritts brought copy of this
compromise agreement before the STAN
ley committee. Under its terms It Is
understood the Merritts received $525, 900
from the oil king in settlement Of all
claims. the Minnesota ore men having
tired Of court proceedings. Leonidas
Merritt was asked If he had signed such
soh I don't know. I would sign al
most anything In those days to recover
some Of my fortune" said Leonidas
Merritt, rather wearily. II was told I
sen Teu ssays ssb nSahas y refused
gested.''
Saved Part of Fortune.
In this manner, Merritt declared, the
family saved a fraction of the immense
fortune with which he had gone to
New York to ask Mr.. Rockefeller's aid
In financing his ore mines and railroad
In the Mesaba range region, The Mer-
rltts were still ritter today against the
Rev. F. I. Gates, Mr.. Rockefeller's
almoner. whom they charge with ar
them q few weeks later they might
walk the lies back home unless they
Old Mr.. ,Eocktfeller,s bidding.
rtt uhs eea oil kinffIs fIis explanation Of the Mer-
''The facts with regard to the loan
were as follows: The loans aggregating
10000 were made by Mr.. Rockefeller
OF 1893. Mr.. Rockefeller never called
these loans. In February, 1894. the Mer-
rttt brothers being dressed by other
creditors. applied to Mr.. Rockefeller for
further assistance. =
Repurchase Option Given.
Instead Of calling his loan, as they
charge, he furnished them an additional
sum of $4SO.00O. They sold him 90, 900
shares of stock at SO a share, amount
ing to 100000. the several members of
the family contributing different propor-
tions. For one-half of this. more than
enough to cover his loan to them, he
gave to each Of them an option to re-
purchase in O. year at the price that
interest.
prior to the expiration of the year
Alfred Merritt. one of the brothers who
testified before the committee brought
suit against Mr.. Rockefeller. and he and
several of the others never endeavored
to exercise the option.
Another brother and nephew, at the
extension Of 1t on their stock, which
was given, and they subsequently took
back their stock, amounting to 10000
shares, and on the formation of the
Steel Corporation sold 1t to that COM