Search America's historic newspaper pages from 1836-1922 or use the U.S. Newspaper Directory to find information about American newspapers published between 1690-present. Chronicling America is sponsored jointly by the
National Endowment for the Humanities and the Library of Congress. external link Learn more
Image provided by: University of Illinois at Urbana-Champaign Library, Urbana, IL
Newspaper Page Text
worth only $5, .and that their
credit wasn't worth a-whoop.
Merritt sued. He was given a
verdict of $900,000 in -a .lower
court. Rockefeller appealed.'
Merritt settled'for $525,000.
The committee sat silently for
several minutes after Merritt Jhad
told his story. Then Chairman
Stanley, addressing no one in par
ticular, remarked: - -
"This preacher, Gates, seems to
nave been working for the Lord
and John D. Rockefeller."
Martz' story also was interest-
After Rockefeller had acquired
.he railroad by the neat little pea
srame outlined above, Mart? was
instructed to "pad" his report on
ne value ox tne rauroaa property
o as to show it's cost of construc
on, which actually was $660,000,
This was to enable RockefeJ
ertb give the railroad away to
the Stee Trust in consideration'
t Martz held 19 shares in the rail
Dad. It was "conveyed" to him
hat Rockefeller was in financial
Jifficulties, and that he was' going
.0 raise a loan in New York and
use the stock of the railrpad as
Later, it occurred to Martz to
ask what had happened to his 19
shares of railroad-
It was "conveyed" to him that
Rockefeller didn't approve of em
ployes holding stock in his con
cern, and he was offered-$25 'a
share for his stock.
As the stock was -worth about
jected. Also, he demanded his
It was "conveyed" to him that
his job was good as long as be
didn't worry about the stock.
Martz needed the job, so he'so)'d
the stoclc for $30 a share. It
draws down $200 per share a year
in niviiianAc nrr '
Chairman 5tanliw nf thi'Wnitc
Steel Committee this afternoon
announced at Washington that
he found it necessary to issued'
subpoena duces tecum, ordering
John D. Rockefeller to submit to
the dommittee certain documents
in his possession bearing on his
deals in the "Minnesota ore fields.
Merritt's brother, "Lon" Mer
ritt, a big, strapping backwoods
man, took the stand this after,
noon, and shed more light on the
Gajes-RocHefeller bunco game. "
"I was a prospector and explor
er, and I didn't know much about
Wall street ways," he said. ?i
. "I never have been in jajj. But'
I ha.ve been in the legislature. "
"After I discpyercd ore in the
Mcsaba hills, I couldn't raise tjiV
capital to work it. I went to 0$ir- -negrie
and Frick. Frick didn.t
treat me like a gentleman. Jie
bulldozed me, and ridiculed -the
idea, of ore in the Mesaba range,
"Then I met the Rev,-J". T.
Gates, they man who is in charge
of Rockefeller's "charity" in New
.York. " '
"Gates told me how .pious and
honest John . Rockefeller was..
Gates suggested we should con,-
sohdate'our mmes nd railroad
and Rockefeller wquld purchase
2i?0,a slcMart natwally.pbrli