Norwich bulletin., 1911-11-22
Duluth Man Tells How He Lost Properties
 Now Worth About $700,000,000
OIL MAGNATE MADE LOANS Tn HIM
Mine and Railroad Holdings Were Put Up As Coll lateral and Rockefeller Got Control ot Them Be- cause of Failure Redeem Loan "A Hours Notice Induced Make Deal by Baptist Preacher.

Washington, Nov. 1.-Alfred Merritt of Duluth, Minn., the first presi- dent of the Duluth, Mesaba & North srn railroad, who styled himself a Humber jack" unacquainted with the methods of the money trust. told the house steel trust Investigating com n1ittee today that through loans of less than S1,00O,00o from John D. Rocke- Teller he had lost his holdings in the Mesaba iron mines and the railroad properties now owned by the United States Steel corporation. and estimat- ed to be worth today as high as $f0O,- 0oe, 900.
 Teok Advice of Baptist Preacher.
 Merritt and his brother. Leonidas Merritt, who will testify tomorrow, were among the original mine owners in the Lake Superior region and part owners and builders of the Duluth. Mesaba & Northern railroad The eld- CT Merritt declared that he was in duced through F. D. Gates, Mir. Rocke- felIer's secretary. ''in charge of his charitable york; to put up all his holdings as collateral for loans from MT. Rockefeller in 1892 and 1893. One loan was for S420,000. Others were for various sums. Gates, he said, was a Baptist preacher. in whom he had. by placing a call loan he would not be pressed and that he would be taken care of.
 Given 24 Hours to Raise $42o, 900.
 The witness related how, two months after he had put up his collateral with Mir. Rockefeller. during the. panic of 1893, Rockefeller called the loan, glv- ing "A hours to raise $420.000, and that, being unable to raise the money, he and his brother lost their property. He admitted that Mr, Rockefeller of fered him az oppsrt usfity to buy his property back within n year, but de clared that the oil king told fnanciers ito keep hands orr and that he was enable to raise money anywhere
 Rockefeller to Be Summoned.
 The introduction of MT. Rockefeller's g name in this manner almost resulted tn the issuance of a subpoena duces tecum for him to appear before the committee with the contract made at the time of the Merritt loans Repre- sentative Bea1 of Texas moved that this be done. No objections were heard when Chairman Stanley put the mo tion, but the conmittee decided later in executive session not to call MT. Rockefeller until Leonidas Merritt had testified
 Msrritts Sued Rockefeller.
 The Merritts were first parties to tvenxaction with MT. Rockefeller and others in the formation of the Lake Superior Consolidated mines. In this the mines of the region and the Du- ;lth. Mesaba 6 Northern were con solidated Out of this a suit by the Merrftts against Rockefeller developed on the ground of misrepresentation of the value of mining properties turned fin bv the Rockefeller interests. Sub eeouentIy Rockefeller paid the Mer- fitts s525, ,00o in settlement for this. Rockefeller Had Confidence in Him.
 Before this settlement and after he had lost his stock holdings and ceased to be president of the railroad, Mer- ritt testified that F. D. Gates came to him and said MT. Rockefeller wanted him to continue as president or the road for another year.
 Was that the Baptist prea cher man Stanley.
 "Yes," Merritt replied. "He said