The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1911-11-29
BROKE HI1 Up
Alfred MERIT Blanss J'dn D. Rosks
fellew aud Preacher for
HIS FINANCIAL RUIN

Saws the Preacher induced him 70
Borrow Money From Rockefeller
and That Rockefeller TOOK Advan-
+ooa of Him and Flecced Him Of
All His Stocks and Bonds.
Alfred Merritt, Of Duluth Nlnn.'
the first president of the Duluth, MIS-
sabe & Northern Railway. who stSleo
himself a ..lumberjack uAacQuain0eo
with the methods OF the money
rust told the house steel trust IN
vast; eating committee today ina
through loans OF less than Sl,Veo'oVo
from John D. Rockefeller Re hao los'
l.;e holdings in the N:ssabe IRON
mines and the railroads properties
now owned by the Enite1 Steel cor
,orarion and estimated to be worm
today as high as sI00,0oN.OOe.
merritt declared that he was IT.
dpced through F. D. Gates MI:
EocLefeller's secretary. 'in charge ot
his charitable work, to FIT uH an
bis holdings as collateral tor loans
f~om Mr.. Rockefeller in l>Sz anu
1se3 One loan was for S+2o'ooV.
C.-hers were for various sums. Gates
he said. was Baptist preacher III
whom, he had confidence anc VINO
assured him that by placing a ca
1oan he would not be pressed ara
1har ne would be taken care OF.
The witness related how TWO
months after he had put up MS col
lateral with Mr. Rockefeller our:hs
+na manic of 1898, Rockefeller cs'ieo
the loan, giving him "a hours to lalse
e4ao 900 and that being unable 10
raise the money he and his o!other
1,s. 1heir property. lie adm.tteI 1nat
NJ Rockefeller offered him an op-
{, 3rtrnitv to buy his properly BACK
within a year but declared that TIE
o;1 king told fnanciers TO keeo
hands off, and that he was cnaoie =
raise money anywhere
rha Merri;t's were first pa-+les 70
transaction with NJ. Rockefeller
and others in the formation OF ae
TaLe Superior Consolidated IRON
mines. In this the mines OF ;he su-
nerior region and the Dulu-a, MISS
aha r Northern were consohea1ea'
0n+ of this a suit by the Merr1l's
AGAINST Rockefeller developer on the
ground OF Misrepresentation OF 'ne
vo,re of mining properties turned III
hy the Rockefeller interests. Suose-
onantlv. Rockefeller paid him the
Merritts s525, 900 in the settlement
for this. .o~
BEFORE this settlement and a11e1
he had lost his stock holdings anu
Before this settlement and a1'e!
ha had lost his stock holdings an0
csssed to be president OF the rail-
road Merritt testified thai +. u
Gates came to him and said Mt
rockefeller wanted him to continue
as president OF the road for another
year.
"yas that the Baptist 2reache:
Gates who came 10 you asAe'
Chairman Stanley. ;,
yes Merritt replied. He sa.e
Mr Rockefeller had confidence II
mo and knew that I, through my &C
onaintances with the boys on 1n'
range would be able to get more
shipping business than any cne els'
could do. guess that was true.
The Rev. DR.. Gates seemed to o.
serving the Lord and John D. H0ese S
fel,ed, didn't be?' the chairman III
terrupted.
"But I refused the Offer MERIT
answered emphaticaily. i tolo ua'e
that | could not retain my mannoo
and work for John D. Roeke1eiler'
The intricacies Of the TRANSACTION
we're involved and with c!hcutl
we're drawn from the witness. Rel
resentative Beall Of Texas nnali
summed the matter up:
You do know this. then, salo VI
Beall, before YOU deaN VII
1ohn D. Rockefellev, you and yoV
brother had valuab!e stockho!olhs
in the Lake Superior ore region al
in this railroad md after your oea
ines With him you had no slock?
..vos ,b.-,s II" said l1r. Merit
81 want TO emphasize fnf,her u,
before ! dealt With Hockefei!er Il:
10 interest in the Duig'h, Alssa'
E. Northern railroad which !2S5 Es'
u,ase sS4oo, ,o00, ard ghas now
have nothing.
~ am inclined to ,tame I
prea cher more than asn "2.@s..ss4
He deceived ne. den blame TO,
efeller so much. He belongs 10 {
money trust
Fer closing in on vour?'' asked Re
resen1a,ive Gardner. Did he ne
the money!
He wanted that propertE-
coryinced that he sent the h2nas 0
notice to fnanciers win VINO"
tried 10 raise money 10 reaeea
property. He told fnancseFs !, -
land whom I approaches ,.'''1
oroperty ne got for SO a snare y
MOI worth s5. ana could 2os Sc
cent. :.
After Chairman S5ar!ar had in
Gated that ne would he very siaa
hear from Mr.. Rockefeller on
matter, Mr.. Rea!l made motion q
he he served with subpoena cu
recum. George Weiiman Anr'
counsel for Mr.. Rockefeller. ob1ec
and suggested that Ar. hocAeSsi
-, s.n,c liz. cGr.Eact