Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1912-01-02

the par value of $40 a share, when
the said Carolina Agency stock was al
that time in the hands Of W. A, Clark
Willie Jones and Thomas F. Bryan, az
trustees to be held by them to be de.
livered to Mr.. Darlington on the hap
pening of conditions, which never
happened and which at that time
seemed almost impossible to an unin-
terested person. At the time Of this
transaction it appeared also that the
stockholders Of the Seminole Securi.
ties company had never had a legaI
meeting since the organization OF the
company. and there was no one au-
thorized by law, and no authority In
law for any such transfer as Messrs
Darlington and Young attempted to
make, which took away from the
treasury Of the Seminole Securities
company $4,000 in money, for which
no property whatever had really been
ito the said company.
"At the very time of this transac-
ton, the Carolina Agency company
which had been organized and oper-
ated by Mr.. Darlington since the early
part of 1907, was absolutely insolvent
and 1t appeared from report made to
the said company by its president, W.
A. Clark, that out Of stock which had
been sold for the company by Mr
Darlington, amounting to some $48.-
600, there was only at that time In
the treasury $1,S48.40. with credit In
addition thereto Of $2,592.29, with the
State Mutual Life Insurance company
of Rome, Ga. l will add that Mr.. Gar
lington has filed claim against the
estate of the Seminole Securities COM
pany for some $4,000 balance due
him on account Of this transaction.
Suit Pending.
THE Carolina Agency company Is
at this time suing Mr.. Darlington fol
an accounting for the sum Of $25,OOO
Of the capital stock Of that company
which they claim was improperly used
by him. We thus see that the Sem
mole Securities company. was not the
first company which came to grief
through the operations Of Mr.. Gar
lington and the settlement of the af-
fairs of the Carolina Agency company
in a suit subsequent to the appoint
ment of the receivers by the court fol
the Seminole Securities company
shows that the books Of the Carolina
Agency company, which purported to
set out the transaction whereby Its
ca apital stock was used. were shipped
from Laurens to the officers In Colum-
bia by express, and during that ship
ment they mysterlously disappeared
and the officers Of the company were
able onH to recover from the express
company a valuation of $50. placed or
them by the shipper. BY strange
coincidence the minutes Of the Semi
mole Securities company, mysterious
" disappeared, and the receivers have
never been able to get from the off,
GERS Of that company any books which
give more than very meager ac'
G uniting of the transactions of the
company.
"At the trial of the case in which
Messrs. Darlington and Young were
convicted the defendants put up ne
testimony, and there has never, so fal
as | know. been an explanation as tc
how and why the funds Of this com
pany have disappeared, and so far a.
I have heard that there has been the
slightest repentance on the part OF
either Of these young men for these
outrageous and destructive acts whicf
made a precedent in South Carolina IT
circles Of high finance.
Purpose Of Scheme.
THE victims of this scheme, which
for a great many reasons, seem tc
have been founded for the sole pur'
poses of loot, number some 1.2OO tt
1900. including both men and womer
and some Of the letters written tt
me as chairman of the receivers, re-
veal a most pitiless cruelty on the par
Of the sales agents Of the company ir
the selection of their victims. On'
lady writing with reference to hel
own stock, uses the following words
with reference to another lady who
has been victimiZed:
"aShe. Miss -, is an orphan