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Show START OF ROCKEFELLER SPLIT I Quarrel Caain Frnnk o I.rve the ! Church Originated In Balne I Deal Between Brother. I The quarrel between the Rockefeller j brothers, which caused Krank Rockefeller Rocke-feller to withdraw from the Kue'.id Avenue Av-enue Baptist church, Cleveland, O., began be-gan in 1S92 when Frank and James Corrigan borrowed $140,000 of the Standard Oil chief to develop the Franklin Iron Mining company in the Mesaba range. The business venture i was a great success, and Corrigan and Rockefeller were offered l.S00.OC0 for the property, which they refused. John D. Rockefeller had $ 150,000 of his brother's paper, and as a business precaution pre-caution asked for Corrigan's indorsement. indorse-ment. It was given, and Corrigan then owed John D. a large amount for which he held collateral. When Cor- rigan paid his share of the loan and demanded de-manded his stock back Jo'hn D. Rockefeller, Rocke-feller, it is claimed, told him that the stock would be held as security for indorsement in-dorsement of Frank's notes. Frank Rockefeller and Corrigan then made efforts ef-forts to get money elsewhere to pay off John D. They claim that they arranged ar-ranged with the Iron Range company to borrow the money, but John D. heard of it and at the last moment . the ' ! Iron Jiange company backed out. ' ; Frank Rockefeller and Corrigan were " 1 finally compelled to sell the Franklin 1 finally compelled to sell the Franklin Iron Mining company for $500,000 to i prevent letting it go for the $140,000 debt. ' - ,. . |
