The morning call., 1894-04-15
What He Means by Purchasing
at Cost Price.
SOME OF HIS OTHER SCHEMES.
Though Napoleonic in Finance lie
Did Not Disdain to Bor-
row a Dollar.


worry the "expounder of the new cult in
Presbyterianism" a little bit that he would
have to pay up a small matter of S230O to
Charles Montgomery by next tuesday or
take the consequences, and as Tor the prl-
vate detective who camps on the Poagean
trail day and night that had no place in
the intellectual reverie OF the reverend
clerk
He discussed his financial operations
with considerable candor. ~ GU see, sir.
said he, as he blew a wigglDg ring OF
smoke into the circumambieDt void. II
have been misrepreSented in some re-
spects. / have been prominently con-
nected with financial schemes on the coast
and New York for many years. Natur-
ally then l have some enemies and they
are trying TO Co me up The history OF
my transactions with Mr.. Montgomery
Why, certainly, nothing palmer. Last
April / asked him TO go into the May
flower Mining Company, which had just
formed. We wanted money to buy mill.
L got contract with Montgomery for
eighteen m onths and he was TO help me
buy the mill and pay the cost of transport
ation. He was to put in at various times
shares of stock when the mill was on the
property, 10000 more when the boiler was
in aud 10.0 more when the mill was run
ming. The mill / bought was in Kern
County and owned by Charles Hartley &
Co. of this city. 1t was twenty-Stanp
mill. valued at $500. l got the price
down to S7o0 and bought it, l was going
to sell this, as l thought it too large, for
$500 and buy smaller one. but did not.
The ore from the mine was assaying from
Sc to $40 ton. There were 1000 tons of
ore in sight and 1910 feet of drift.
Montgomery gave me his note for $500
without security. He then gave me four
shares Of hO ell stock, then ten shares, and
later three shores. with his note. For all
| realized about S1512. The mill was to be
paid for out of this, and was to cost Mont
gom cry $500 -"
But, my dear Mr.. Poage." interrupted
the newspaper man here. facts and figures
whirling around confusedly in his head.
II understand that Montgomery was to
buy the mill from you at cost"
Certainly. certainly. my good FRIEND"
replied Mr.. Poage. while a plying smile
played round his features, "ha got 1t at
cost-what it cost him. don't YOU see ?'
"Yes, but one would naturally think
that the cost Is what 1t cost you besides,
whatlbecause of the difference between the
500 it cost you and the $500 you got from
Montgomery"
Now, DOW, my dear sir" said Mr..
Poage In the tone of voice one uses to
peiulent child. Cant you really see
that what Mr. Montgomery paid for the
mill is what it cost him and what Nr.
Montgomery did not pay for the mill it did
not cost him. bought the mill and itcost
Mr. Muntgomery-"
$50 it appears" remarked the inter-
his knees com placently, gently discharged
a cloud Of fragrant smoke and fixed a look
of mild reproach on his visitor.
''WelI, how about that little sum At
t0rney Jordan says you must pay and you
have promised to payp" asked the inter-
viewer in puzzled way. The look of mild
reproach died away from the Poagean eyes
and gave way to a look of entreaty.
Now, now. about that-ef-well, you
know, prefer not to talk. This is lovely
weather, is it not? Really. my dear sir, |
must keep very important engagement"
with Nellie BY ?" queried the news
paper man. referring to the time she inter-
viewed Mr.. Poage when he advertised in
the New York World for wife.
Really. now. l should like to explain
that" replied Poage. you see, l was
interested with Henry George and DR.. Nc
Glynnin labor investigation in the low
quarter of New York, and of course the
newspapers wanted to know all about it
aud my views. / never had anything TO do
with matrimonial bureau"
1t was quite hard to see the connection
between Henry Georges single-sax doc
trine and advertising for a wife, and the
interviewer mentally called Nellie Bly, all
kinds of things for writing things up as she
did. but Mr.. Poage went on TO say: "My
relations with James V. Farwell Of Chi
cago have always been the most pleasant"
This, OF course, is a fact. They have
from all accounts been very pleasant Tor
Mr.. Poage.
So ended the very satisfactory explana-
ton of Mr.. Poage regarding himself and
his schemes, and as the scribe FASTENED
away he could not but think II MIR.
Poage's theory OF after deGth is correct
that the Omniscient would make grave
mistake in booming such remarkable
soul to annhilation.
Some other transactions of the reverend
schemer came to light yesterday. With
his old friend. Edward Kmball. the
church-debt raiser. he tried to unload an
Oregon coal mine belonging to the latter
on an unsuspecting public. he called 1t a
beautifully suggestive name, 1.-The Anchor
Coal Nine" Hope hoyered over it flom
the start. The mine is on the Cowlitz
River. Sam Backus, the ex-Postmaster.
was made president and got 5000 shares of
stock. Ira P. Rankin was taken in, and
also prominent minister. who anchored
S2500 in the mine. In the capacity of
financial agent Poage proved himself a
cuckoo, and thousands Of shares were
DISPOSED of. Backus backed out at last
and Rankin was elected president. POage
aud Kimball then dropped out, having
made considerable out of the Anchor
mine. This subject is a painful one to
Mr.. Rankin. He does not like 1t to be
mentioned. and the epitaph he invariably
places on an imaginary grave Of the Rev.
Mr.. Poage is HE was a schemer that was
always trying to make something out of