WASHINGTON, Jan. 21— A Congressional subcommittee investigating
investments in the United States by President Ferdinand E.
Marcos of the Philippines and his wife, Imelda, heard testimony
today from two lawyers who said they were told Mrs. Marcos owned
a Long Island estate and that she intimidated another investor
in the property.  Possible corruption and what the subcommittee
chairman, Representative Stephen J. Solarz, a Brooklyn Democrat,
called a ''headlong, multibillion flight of capital'' led by the
Marcoses out of the Philippines, have become issues in the
presidential elections scheduled there on Feb. 7.  Another
subcommittee member, Representative Toby Roth, Republican of
Wisconsin, accused Mr. Solarz of trying to unfairly influence
the outcome of the elections by holding the hearings now. Mr.
Solarz said the subcommittee staff had begun investigating the
Marcos holdings in September, before President Marcos called the
elections. He said delaying the hearings might make it appear he
was unfairly favori