Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1911-11-26
Clergyman Accused of Being
More Familiar With ROcke-
feIIer'S LedgerS Than Bible
Highly Indignant,
HE CHARACTERlZES
CHARGES OUTRAGEOUS
None of Wrong Acts Alleged By
Them Committed By PiOuS
John D., or BY Minister
Himself.
IBy Morning Journal Special Leased wlseI

tBy Morning Journal Special Leased Nlrel
New York, Nov. 25.-"I have To say
that no one syllable of the words
which Leonidas Merritt put in my
mouth was ever uttered by me, de-
clared Rev. Frederick 4. Gates In a
statement issued late today replying
to the testimony given by Merritt re-
Gently before the Stanley investigat-
ing committee.
with all the emphasis | can com
mand. l wish to deny this outrageous
charge"
After registering his emphatic de-
nial. Mr.. Gates continues:
II haye further to say that not one
of the wrong acts which Leonidas
Merritt says Mr.. Rockefeller commit
ted or that | committed In his behalf
ever were done by either Mr.. Rookie
feller or by me, and that both Mr.
Rockefeller and | on oath denied all
the wrong acts specifically and in de-
tail eighteen years ago. need not
add that every one of the Merritts
who had made the charges or had
Joined i'm making them, withdrew the
charges over his own signature.
"But wish once more to deny
not only in general but in detail the
outrageous. charges of Leonidas Mer-
ritt. Leonldas Merritt was never In
vited to come to New York by Mr..
Rockefeller nor his agents. When
Mr.. Merritt came to New York he
was not solicited by Mr.. Rockefeller
or his agents to remain In New YORK.
"NeltNn NJ Rockefeller or his
agents ever solicited Leonidas Mer-
ritt or any one else to unite In a con-
solldation OF iron properties, The con-
solidation was conceived and effect
ed by Mr.. Merritt and his friends
without solicitation from MIR. Rookie
Teller or his office. Mr.. Rockefel-
Ter never made demand or call loan
of any kind ON Leonidas Merritt or
any of the Merritt brothers. All the
! loans made by Mr. Rockefeller to the
Merritts were time loans and neither
on the dates of maturity or AT any
other time did Mr. Rockefeller ever
demand payment of these loans.
"They were permitted 10 run on In
definitely At no time was Leonldas
Merritt told that he must pay these
loans either in twenty-four hours or
on any other date. Not the slightest
pressure was ever put upon Mr. emf
ritt or any Of his brothers at any time
to pay their loans. Mr.. Rockefeller
was perfectly willing to carry them.
They knew well that the pressure up
on them came from other creditors of
long standing-not Mr. Rockefeller.
Mr.. Gates says that Mr.. Rockefeller
accepted an offer from the Merrltts
in February, 1894, to sell 10000
shares of stock for $900,000 and give
them an option TO buy back FOR one
wear at six per cent" more than mar
OF the stock. The Merritts, he adds,
were so pressed that two weeks later
they urged Mr.. Rockefeller to buy
I12,000 shares more at the same price,
which he did, a fact to which Mr..
Gates says the Merritts had forgot
ten to testify
IF the Merritts felt continues
Mr., Gates, that they had made mis-
take in selling this stock to Mr..
Rockefeller at $40, why did not they
20 into the market as they could have
done at any time during 1894 and
1895. and recoup themselves by buy
ing the stock for less than $40, or
why did they not exercise their option
to buy K back from him at s10?'
Mr. Gates goes on TO say that MI
Rocefeller failed to extend the option
of the Merritts from year to year De-
cause they never asked him, but IN
stead began "baseless" suit against
him.
Two of the Merritts, he says,
however, "and likewise several OF
their most intimate friends IN Mime,
sofa and elsewhere, to whom MI
Rockefeller had also loaned money
and who were not In position TO pay
were carried by Mr.. Rockefeller year
after wear until the stock had come VI
he worth par and above, and they
are now rich men, Mr.. hockefelier
renewing and extending their loans
every time they asked him.
Mr.. Gates traces the advance OF tht
stock. he says by records Oh MI
Rockefelers purchases. ~ 10 ".
raasons for the rise he declares thal
the stock was low in lSs3-s4-so any
1896 because the great mines were
men mining prospects with millloh'
, of money required for deVeiopiiien
and because the ore was not liiei
: adnnted to existing smelters beihe
, "ganerallv understood that ores wnel
deyeloped would be Of small Valu'
ana would be little used.
The rise in the stocks, he says Wa'
caused by the adoption OF sineiter'
TO the ore and because Mr. hocke ~,
selier rave the enterprise his I'm,
n1ense financial backing until IN leol
when he sold his stock, his advance
amounted "all told to near'- Wa
900 0OO,o this sum being apart IRON
his purchases Of stock
! Regarding the Merritts suit agalns gains
; Mr. Rockefeller, Gates says their lesa
representative came TO Mr. Roeke ',i.io
| reilar's lawyers seeking compromise
After referring to the statemen
: signed by the Merritts. Mr. Gates con
tinues.
when they did retract we saV'
them s525,O0O which added 10 IN
, money previously paid them, amount
: ed 10 SIS share on all the stoci
which they had sold, which was thei