We have just a few big fish in our small pond. Some of those have (had) property holdings and little $$$. Other big fish have cash on hand molding in a bank but little more. When you add it all up, put it all in one pot and compare to other places, our big fish really don't add up to a hill of beans. For this county, they are the big cheeses.
  Most of those folks are now senior citizens and without much in the way of growing new ideas. As many say, they are sticks in the mud and are holding the County back in many ways.
  This is article covers the family feud and sell off of properties owned by the Nichols family. The Feb. 5 2020 auction was ordered by Judge Jack Alsop to settle that long standing family feud.

  At 9am, a  couple dozen were standing inside the Courthouse on the 5th waiting the "Special Receivership Sale" (Sale) to begin. Unfortunately, the front side of the colorful flyer advised a 9am start time. Flipping the sheet over provided, Nope, going to start at 10am. With that confusion, potential buyers grew new vericose veins during the wait.
  By 10am, that crowd had grown to 50 or so speculators. The auction was moved into the County Commission room. It was standing room only except for the front row. Remember, Baptists don't sit up front.
   Handling the legal sell off was one time Clayberry Asst Prosecutor, the portly, Clint Bischoff. That's him on the right below with the striped tie.

   With the room quiet, Clint read off a big long gob of legal jargon about the process. After that came an even longer oral presentation on locations and deed descriptions. In a nut shell, 8 prime parcels of downtown real estate owned by the long squabbling Nichols family. Notables include, the Clay Post Office, Dollar General building, DHHR office, the old Reed home, the now vacant RT Sizemore (old Foodland),  the Doddrill house, the Koch trailer lot, and what many still refer to as the old First Baptist Church property and apartment buildings.
  Bischoff provided: there is no minimum bid; 8 tracts will be sold; Judge Alsop will have the final say on the accepting the winning bids; and winners will receive a "special warranty" deed (meaning an as is sale); and finally, after the 8 tracts are sold,  a final auction will be held.
  That final auction will be for everything, the whole enchilada, as one item. Winner takes it all.

    Questions came on liens and debts owed on each piece of real estate. Bank Prez Greg Gency sought answers on what happens to the corporate leases on three parcels. He was talking about the long term income generated by rents from the US Post, Dollar General, and DHHR office. Mr Bischoff explained, this auction was for the Nichols holdings and he was not going to speak about the money making leases.
   The old Doddrill home went for $5000.00 With Brian Moore the purchaser.
   Referred to as the Koch trailer lot, Houston Bullard purchased that for $2000
   One Nichols family member was the high bidder of two lots (#132 and #133) for just $350.00 Sorry, we haven't a clue where those lots are located.
   The real cash cow was the sale of the U S Post Office building, lots, and Reed house on the South side of Main Street. The bidding went back and forth. Winning bid was $100,000 from a Jim Smith from Elkview.
  Parcel #5 was the Dollar General store. That building once housed a Nichol's furniture operation and a downstairs roller skating rink. Some in the audience commented, it was now in pretty bad shape. As the bidding went thru its paces, you could see and feel the rift between the split sides of the Nichols family.  Bet they don't send out Christmas cards to the warring family members.
  On that parcel #5, Dow Jones and Aaron Nichols were the primary bidders. Nichols stopped at $115,000. Apparent winner Dow Jones walked away with a prime piece of real estate for just $120,000.
  Know Dow? Mr Jones grew up in Clayberry, is a Clay High graduate, and had sense enough to move out of this place to find his fame and fortune in Morgantown. Now owning and operating a gob of rental apartments, Dow Jones has done very well for himself. His roots run deep. Over the years, after growing some jingle in his pocket, he hasn't forgot his home county. Often, it is Dow that coughs up $$$ to help out the Apple Fest, the High School, and other worthy causes inside our 342 square miles.   We believe this is his first major investment in County Clay.
  Number 6 on the auction block was the DHHR building and nearby Reed house. Not wanting to dork around, Jim Smith started the auction with a $100,000 bid. Back and forth back and forth, Mr Smith was the top bidder at $250,000. Our big fish backed off when Smith got it up to $250,000.00.
  There is one large, empty, lot in downtown Clay. That's the old IGA, Foodliner, Foodland, Fast Check lot. That family rift showed thru big time. Different sides of the ar went at it. In the end, a Nichols was top dog at $99,000.00.
   A final lot referred to as the Church Bank St bldg was auctioned off to Nicholas family member for $25.00
   In all the auction netted $597,306.00. Understand that readers? A full 1/4 of the downtown was sold for less than $600,000.00.  Adding 6 and 3 together and coming up with 4, that means, the whole tamn down isn't worth but around $2 million! Heck, there are apartments that sell for more than that!!
  Think it's over? Wrong O my fine feathered friends.
 

   As mentioned above, with all parcels sold, it was time for the final  auction. The goal was to make one final attempt at netting more $$$. Minimum bid was the $597,306.00. Waiting Waiting...
  From the third pew back, none other than Lynn Sizemore bid that amount. There was quiet in the room. Sounding a little shocked maybe, Bischof to Lynn, you know you have to pay 10% today. Sizemore, "Yes"
   Do you know or have you heard of Jim Smith? He and his brother own or own / operate most of the Elk River valley from Clendenin to Mink Shoals. Smith Grocery stores and Hardware are the most noticeable operations. Along side them are carpet and flooring centers, a bunch of small telephone company switching station buildings and more than 30 Dollar Store store buildings plus Rite Aid's in the region. Now in his 80's, Jim Smith has the loot to buy about anything he cares to.
  Mr Smith came in wearing bib overalls and bright read shirt. Aided by a walking cane and sporting an ole English black cap, he never showed his wealth.
  After Ms Sizemore's bid, Smith asked for clarity on a couple issues. With answers in hand, Smith, let's make it $600,000.00.
Gulp!
  There was silence in the room. No local was willing or maybe unable to match the bid.
  Pending the Court's final OK, Jim Smith just bought 1/4 of downtown Clay.
  We asked him afterwards, what he planned to do with his new holdings. His reply, I plan to invest in them here.
  What a nice sound. Someone willing to invest in the Land of Little. Those words are fewly heard here.
  For a mere $600K, one of the old guard families walked out with Zip! Their empire has folded.
  There is wittle doubt in this reporter's mind, Mr Smith could have easily forked twice the asking price and write the check on the spot.
  Finally, before you think that's a bunch of $$$ in some blue blood's pocket, think again. Out of those proceeds, all old debts and liens have to be cleared up. Our guess, that's a bunch.
  Instead of the Town of Clay, let's rename the place Smithville. It has a nice ring to it.
AW