Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-11-24
I DID NOT STEAL
SAYS JOHN D. Of
THE MERRITT DEAL
lives Out Exoneration State
ment Signed by Parties
in 1897.
TELLS WHOLE TALE OF
"HIGH FINANCE" TANGLE
Minnesota People Never Exer-
cised Right to Buy Back
Ore Fields.

NEW YORK, Nov. 24.-In the mat
ter of the evidence of the Merritt
brothers before the Stanley committee
in Washington, rejecting upon john u
Rockefeller, in connection with ore ana
railroad properties on the Mesaoe
range, Mr.. Rockefeller authorized yes
terdav a statement which, in part, Is
as follows:
aReferring to the testimony nj the
Merritt brothers, charging fraud ana
Misrepresentation by Mr.. Rockefeller
and Mr.. Gates in connection with the
Lake Superior Consolidated Iron Mines,
and that they were deprived of their IN
terest in that company by means oil a
S42U,0 C0 loan made them by Mr.. Rocke-
Teller, which was called during the
panic of 1898 all of which statements
were denied under oath in the United
States courts at the trial of the ilti-
CATION in 1895, the facts with regard
to the loan were as follows:
''1'he loans aggregating $42o,ooo were
made by MI. Rockefeller in various
amoun during the summer OF 1885.
Mr.. Rockefeller never called THESE
loans. In February, 1894, the MERRITT
brothers, being pressed by other credit
ors. applied to Mr.. Rockefeller Tor
further assistance. Instead of calling
his loan, as they charge. he furnished
them an additional sum of $4S0,oOo.
s.They sold him 80, 900 shares of stock
at $40 q share. amounting to S~s00,0oo.
The several members Of the family
contributing different proportions. For
one-half of this, more than enough 10
cover his lotn to them, he gave 10
each of them an option to repurchase
in a year at the price they sold 1t 10
him for, with 6 per cent. interest.
Prior to the expiration of the year
Alfred Merritt, one of the brothers, who
before the committee. brought
suit against Mr.. Rockefeller, and he
and several of the others never en-
deavored to exercise the option. An
other brother and nephew at the ex-
piration of the option applied for an
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 thai COM
pany.
ut would be absurd to try in the
at this late date the issues
in thai case; but it is significant that
upon the settlement, which was made
at the close of the litigation, both Al
fred and Leonidas Merritt, the two
who testified before the Stanley con-
mittee, together with all the other
members of the family, gave Mr..
Rockefeller the following paper:
"Certain matters of difference have
between the undersigned and
j. d. Rockefeller and a certain litiga-
ton has been pending between the UNI
dersigned, Albert Merritt, and Mr..
Rockefeller. in which litigation it was
that certain Misrepresentation
were made by Mr.. Rockefeller and
those acting for him concerning certain
properties sold by him to Lake Supe-
rior Con- 1lidated Iron Mines.
II is hereby declared that from re-
cent Investigation made by us, or under
'i'1r direction, we have become satisfied
i'aat no INSTRUMENTATION was made or
fraud committed by Mr.. Rockefeller. or
by his agents or attorneys for him,
uron the sale by him of any property
to as or n of us, or to Lake Superior
Consolidated Iron Mines, or upon the
purchase by him, from one or more of
us. OF any stocks or interests in any
mining, or railway company, or COM
spanies, or upon the pledge by us, or
either of us. to him of stocks and Sc
curities belonging to one or more of us.
and we hereby withdraw all such
charges and claims and exonerate Mr..
Rockefeller and his agents and attor-
neys therefrom. (Signed.)
"'Alfred Merritt. Jane A.. Merritt,
Leonidas Merritt, Elizabeth e. Merritt,
Andrus r. Merritt, Elizabeth d. Mer-
rift, Lillian Merritt, May |. Merritt,
John Il. Merritt, Eta NJ. Merritt, Will
bur J. Merritt, Ida NJ, rift. Adrus r.
Merritt, as surviving partners of the
late firm of c. c. and A. r. Merritt,
Eliza M. Merritt, Ransom e.. Smith, as
administrator of estate o. Cassius c.
Merritt. Napoleon b, Merritt. Matilda
r.. Merritt, Eugene T. Merritt. Anna
Merritt, Thomas A. Merritt and Jennie
S. Merritt.
Duluth, Mimi, January %, 1897. in
the presence, Merrill NJ. Clark, Joseph
Y Csnttont