Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1905-12-29
THE WHIsoNANT SUBURB.

Stockholders in the Whisonant su-
burb enterprise, recently pushed
through by j. Edgar Poag, broker have
Just received checks covering their
profits. amounting to $6.37 on each
share of stock subscribed for, the
checks having been mailed out under
date Of December q.
While he was advertising the pro-
posed sale, Mr.. Poag let 1t be known
to all interested that he was willing to
sell stock in shares Of the par value Of
$50 each to whoever cared to buy,
His proposition was that the property
be valued at $500, the amount to in
clude the expenses Of surveying ad-
vertising, ETC., and the stock holder
was to have his share Of such profits
as might be realized over and above
the sum mentioned, provided of
course, he was willing to bear his part
Of any shortage that might occur.
Several people took stock on the
strength of their faith in Mr.. Poag,
some went into the proposition to help
1t along, and still others invested as a
straight out speculation. This was be-
fore the commencement Of the sale.
Just before the sale commenced, Mr..
Poags offer was repeated and several
additional shares of stock were sub
scribed for. . ..
The stockholders were not asked to
put up any money. All that was re-
quired was that they be financially re-
sponsible and that they sign con-
tract that bound all parties at interest
to a stipulated agreement. The under
standing was that II the sale was a
failure each stockholder would help
hold the bag, and II 1t were a success
each one would get his proportionate
share Of the profits. The stockholders
were not required to bid unless they
saw proper to do so.
The Winnie Davis Chapter United
Daughters of the Confederacy OF, York
willie were also the, benefciaries Of the
sale to the amount Of $51. This. was
under proposition to the effect that
e-half Of the amount received from
one average lot in each block go to
the highest bidder, one-fourth to the
second highest buyer and one-fourth
to the Winnie Davis Chapter U. D. c.
The amount thus accruing to the
Daughters was as stated, and the
check for the same has been received
along with the dividends to stock
holders.
The names Of the stockholders bene-
fitted by Mr.. Poag's enterprise were as
follows: T. M. Whisonant, w. w.
Lewis, G. H. OLeary, s. M. McNeel.
o. E. wilkins Isaac H. Norris. c. w.
F. Spencer, ]. Edgar Poag, w. D. Grist,
o. E. Grist, A. M. Grist, j. M. Cherry,
T. L. Johnson, S! ]. Kimball, W. M.
Smoak, Dobson & McCaskill, ]. R..
Barron, ]. A. Anthony. G. w. Getsin-
ger, Jefferies & Gooding, ]. W. May
hew.
While all the stockholders came out
very nicely as Is evidenced by the size
of the checks they received at such
small hazard, 1t is a fact, that the
property sold ridiculously low. 1t did
not come up to reasonable expecta-
tions, and the aggregate was nothing
like what 1t should have been. The
as Mr.. Poag calls 1t, did not
bring value. Indisputable evidence OF
this Is to be found in the fact that
fully. half of the lots have changed
hands since the sale at advanced
prices, and the owners are still trading
in them every day.
There was no reasonable ground Tor
the slightest suspicion Of crookedness
about the whole transaction.