Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1899-07-19
THE COUNTY'S r. r. STOCK.

THE COUNTY'S r. r. STOCK.
York county declines to sell her 900
shares of stock in the Carolina and
North Western railroad. Rather than
take the pitiable price that was offer
ed, she will run the risk of losing all
her holdings. Such was the decision
arrived at by the county board of
com missioners at its iual meeting on
the subject last Saturday.
1t will be remembered that some
weeks back, Mr.. Marion, of the firm
of Marion & Barber, offered $4,000 for
the 1000 shares that are held by the
county, and that this offer was refused.
Or rather the option, for the PROPOSE
ton was in the nature of an option
only, was refused. Later Mr.. Thomas
H. White offered 81, $50 for 500 shares
of the stock. This offer was also in
the shape Of an option, at least to a
certain extent. Mr.. White agreed to
pay cash for the stock on the day he
should receive the first payment from
northern parties with whom he repre-
sented himself as dealing. 1t was this
last proposition that has just been de-
clined by the county board of commits
sioners.
Subsequent to his original offer, Mr..
White secured a majority of the stock
in the corporation, and really did not
require the additional 500 shares of
York county stock. That was the sit
uation when the county board of COM
missioners met last Saturday but Mr..
White bad already agreed to take
these 500 shares provided his offer be
accepted by July Is, and the question
under consideration on Saturday was
whether to accept or reject the offer.
The matter presented itself to the
commissioners in various ways, and
although they had given considerable
thought to it, still they were in per-
picking quandary as to what they
should do.
The quandary was aggravated rather
than otherwise by the uncertainty as
to the probable fate of the property
whether it would continue to be ope-
rated as now, or whether it would
probably be converted into a
standard gauge and be extended
across the mountains. None of the
commissioners seemed to consider the
ownership of the stock by York coun-
ty as especially desirable; but all had
an idea that possibly the stock might
be worth a great deal more than was
being offered, and they felt they could
afford to take chances. 1t is hardly
fair either, to say that all had this
idea. Mr.. Wilkerson was disposed to
look at the matter from the standpoint
of bird in the hand being worth two
in the bush, and he thought it would
be better to take $4,000 cash, rather
than run the risk of being left the
holder of a big block of worthless
paper.
When the subject was taken up for
consideration Saturday, Mr.. Brice
mentioned the fact that at Hickory,
last Thursday, Major G. W. F. Harper
had said to him that he-Major Har-
per-would be willing to give $4,000
for York county's stock. Mr.. Brice
went on to explain that this offer was
made previous to the meeting of the
stockholders. and as to whether it
still held he did not know. 1t was de-
cided, therefore, to telegraph Major
Harper, and ascertain from him the
best cash offer be would be willing to
make. Major Harper replied that he
was no longer in position 10 make
an offer.
Then came up the question OF dis
posing of Mr.. Whites proposition.
The only commissioner who seemed to
be at all in favor of accepting it was
Mr.. Wilkerson. Captain Crawford de-
cided that he would be willing to sell
for an amount sufficient to retire the
balance of the outstanding Chester
and Lenoir Narrow Gauge railroad
bonds-something like $4,000. Super
visor Culp was, for time, where he
would have agreed to take $4,000 for
the stock but at last come to the con-