The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1911-02-01


Jones and Col. w. A. Clark. Of this
city. as announced in the News and
Courier today. were today served with
the warrants from Kershaw county.
charging conspiracy in the sale OF
Seminole Securities Company stock.
John Y. Darlington is not in the city,
so he could not be served with the
warrant against him on the same
charge.
Magistrate Jordan. of Kershaw, had
authorized bond in the sum Of $1,000
each, and this was readily furnished
by Messrs Clark and Jones. The OFF,
cials of the two banks with which they
are connected signing the bonds.
Referring to the charges brought
against Willie Jones and w. A. Clark,
in connection with the Seminole secu-
rifles. Mr.. Clark said that Immediately
us,on the service of the warrant upon
him he at once gave bond, which was
required by law, for appearance upon
the preferment of any indictment at
the next term OF court of Kershaw
county. OF course, Mr.. Clark was not
inclined. and did not desire to dis
cuss the matter which must here
after be developed in the court, but at
the same time he stated II vas ap-
parent that there was a total msap-
prehension upon the part of people
with regard TO his connection and
that Of Gen. Willie Jones and Mr..
Bryan as to the Seminole Securities
company.
1t seemed that there was an idea
that he and his associates were trus-
tees for the subscribers to the stock
of this company. when, as a matter of
fact. no such condition existed the
agreement, which is in writing, ac-
cording to the statement made yester-
day. and which was brought to the
attention OF every one of the sub
scribers. was simply to the effect that
he and Gen. Jones and Mr.. Bryan
would hold such moneys TO the
amount of 100000, as was actually
turned over to them by the officers
Of the Seminole Securities company
for the purpose thereafter OF organ
izing. either in this State or in North
Carolina. an accident or indemnity
company.
''These trustees" said Mr.. Clark.
'urfdcr this agreement, had no inter-
est whatever I'm inducing parties To
subscribe tn stock, nor were they re-
sponsible for anything that was done
by the officers and agents of the Sem
mole Securities company with regard
thereto"
The mere reference TO the agree
ment between the directors Of the
company and Mr.. Clark and his asso-
ciates show that they absolutely had
nothing whatever TO do with the
transaction OF the Seminole Securities
company. in obtaining subscription by
It's offers or agents. they were sim
ply responsible for receiving such
amounts as the officers OF the Semi
mole Securities company would turn
over to them until it aggregated
100000. and then TO invest in In an
accident company to be organized
under the laws of South Carolina or
of North Carolina.
These trustees" the statement con-
tinues. actually received certif-
Gates OF deposit Of the different State
banks an amount in cash, approxi-
mately 100000. and they thereafter,
as matter Of fact. under the change
OF the condition Of the trust made by
the directors of the Seminole Securi-
ties Company, over which they had
no control, and who had the right to
make the change, paid over every
cent they received to the parties to
whom they were directed to pay it
for the control of the accident COM
pany. organized under the laws of
North Carolina. Not dollar Of any of
the money received by these trustees
remains i'm their hands. nor have they
received "a single dsllar as profit or
interest In obtaining subscription to
the stock of the company; they have
discharged their duties as trustees;
they had no financial interest in en-
couraging people to subscribe TO the
Seminole Securities company, and, as
matter Of fact. these subscriptions
I" this company We're far beyond
10000, which they were entitled to
hold when delivered 20 them; thcy
''d nothing To- do with getting sub
"'fipti'us or having money paid to