Newspaper Page Text
tUfeMji ®|wntWe &
VOLUME XCV
kduiohial none*.
The railway situation is all in a muddle.
Eliza Fhihw ought to send .Tons- Shek
jian a bouquet
The Democracy in the Senate should
gtand like Gibraltar.
Dos’t be too sure that you understand
the railway question. f
Geoboe C. Gorham cannot endure to be
defended by Editor Hutchisos.
When a railway spider thinks himself se
cure, a long pole knocks him out of his
web. | t
Georgia's new 7's are selling at 113. j
Sevtu per cent, is a big rate of interest just
now. _
Mauose ought to withdraw Kiddlerek
oeb and suggest Fred Douglass, who is
now out of a job. f
The festive and licentious cow question
is being cu .sed and discussed from Nash
ville to the Gulf!
Gov. Brown was right. Mahore is a big- j
ger man than Gabrieli), and leads the j
whole Republican party. . j
. ♦♦
VVhf.r the Senate was Democratic Kei.-
IjOOO was as silent as a mouse. Now lie is j
as vociferous as a—jackass.
Gbakt and Gould expect to have fifty
thousand men working on Mexican rail
ways before the close of the year.
Geoeoe A. Townsend, “Gath," is being i
subjected to his usual round of corrections.
“Gath" is often “embarrassed by facts.”
Mbs. Mahore’s diamonds are said to be
the finest in Washington. “Billy” must
have exploited those broken railroads to I
some purpose.
Peru ves the Cincinnati Southern would
like to help the Augusta and Knoxville
Railway. No telling what may happen to
the State Hoad.
At a call of the roll in the Senate last
week there were 37 Senators absent. The
Democrat? have only to maintain 15 votes
for their purpose.
Mil Dawks thinks it all right for Mas
sachusetts to disfranchise about 100,000
white men, but all wrong for South Caro
lina to disfranchise negroes.
When Rhode Island Senators prate about
“a free ballot and fair count.” Senator
Beob. reminds them that forty percent, of
their population is disfranchised.
Thebe in a much more immediate pros
pect that the Solid North will be broken up
by the Mahone business than the Solid j
South will be.— Philadelphia Times.
The Now York World notices that neither |
of the Minnesota Senators seems to take j
much interest in the attacks on Southern
.States tor repudiation of their debts.
John Shebman denies that there was aDy j
bargain with Mahore. Ho very likely' calls j
it a Syndicate, like his understanding with j
the First National Bank of New York.
Thebe is talk of a popular subscription
ter.- John Bbown’s widow at the North-
Do. ioek Dawes and Pecksniff Hoar will
subscribe in chin-music and prayer, most
probably.
lr is becoming more and more evident
that not only coulil the Democratic funding
bill have become a success, but that the
golden opportunity will have passed by
next Winter.
l)o you kuow what "syzgignoseism" is?
It is, according to Dr. Hammond, the power
that makes a man commit rnnrder while
aoleep. The lawyers will have a patent
.right upon it at the next terms of court.
Grant is called upon to subscribe to
•loh.n Brown's widow, because, as the Post
puts* it. “hud it not been for this lady’s
husband, it is extremely probable that
Grant would still be weighing hides at
Galena." .
Men who made $lO a share on railway |
stocks sit down and refuse to he comforted |
because they did not make S3O. Ingrate- j
ful mortals ! Suppose you had had no stock |
at all, and suppose you had lost on what |
you had !
Baltimore people are much troubled
abt. ut their drinkiug water, and the chem
ists cannot agree ns to the cause ot its
alleye. 1 impurity. Its taste is a little “off,’
but, it' our experience, it is reasonably
healthy. .
Senat or EM Saflsbcby, of Delaware, is a
tall, thin gentleman, with gray hair and
eyes. He looks like an austere prelate. He
goes to ttf* heart of things, and has no
equal in detecting and exposing cant and
sham -that is Hoar rtud Dawes.
St. George Mivart, in his book on “The
Gat," describes a South American cat which
eidulges in no midnight cries. The North
.American Continent yearns for the South
American eat. - Njwin.[field Republican. Ob, no!
We will turn our stock over to the South
Americans.
While Senator Rollins, of New Harnp
ah. re, waa firing the Northern heart against
the South-although he had invested down
her* some scamp was engaged in firing the
Sena tor’s barn buildings. We are glad to
know that the Senator, like the South, was
heavily insured.
A tel eg ram from Washington to the
Western J. fess says that the Democrats, in
the Senate, have the advantage of the Re.-
pnblieans ia one respect. There are a great
many more Republican! actively engaged
in large bi'aineos enterprises. This class of
Senators is becoming very restive at the
prolonged
(\>llectok JoiWos, of Savannah, must
rejoice to have his Party loyalty vouched for
hv George C. Gorhav. the “pitching mus
tang." who takes care to let his readers
know that the Collector is the son of the
late Hkbschrl V. Johnson, who was the can
didate for Vice-President on the ticket with
Stephen A. Douglass in 1860.
Senator Emium* writes from the Sontli
t 0 Washington that hi* health is so much j
lU p -*ved b >' the trip that ‘ f th ° Specia ‘ 1
sion -lasts much longer he may get back to i
tako p*' ® the •' , ° ot<,st - The Booth ' in !
helping Edmunds back to health, has re
turned good for past evil and that which is !
to come. P. S.- He took his sest yesterday. ;
Thomas J. Brauv. Second Assistant Post- i
master-Ooneral under Haves, had a salary j
of $3,500. He became a millionaire upon
those wages, owns a newspaper, a fashion- -
able mansion, and other property, He
probably had an economical wife, and is
ivportcd to have owned fee simple in some
Ooßgrfßsmen, who bad needy friends and
relations to be provided for at Government
expense.
Senator Ho eg an's speech, the other day,
was a model oil dignity and learning. The
Alabama Senator ways he means to otter a
resolution inviting tbs President to meet
tfie Senate in executive session and that it
will be his duty to come if iariie i. Wash
lngto* and Jefferson met the Seaside in
that way. It is trae that Garfield is not
W ashingtoh or J efferson, bat he occupies
the position they did.
wwnm Island is represented by Amon
atnd Burnside. The former is a well-pre
served old gentleman, who is a good writer,
and no speaker at all. He reads an occa
sional lecture in the Senate, to which
nobody listens, and the burden of which
generally is that State sovereignty is a good
thing for Rhode Island and bad for South
Carolina. Burnside is Hob, hospitable, a
gentleman of elegant leisure and, as a states
man, much of a fool when he gets an liis
legs. He found his true level on tailoring
fashion plates, and got into the Senate by
gome inscrutability of the Rhode Hand
providence that outlaws poor men.
ONE CAUSE OF NIHILISM.
Murder and Inst run in parallel lines in
j the history of Russian Czardom. The news
papers of the day are now recording that the
Princess Dolgdruki, morganatic wife of the
late Emperor Alexander, made a rapid exit
from Russia, with her three children and
$30,000,(J00. This vast sum is securely
lodged in a Berlin bank, and it was wrested
from the unhappy- wretches who constitute
i the majority- of the Muscovite population.
The Czar broke his wife’s heart and insulted
her womanhood by his connection with the
Dolgobcki female. He likewise robbed j
his people for the sustenance of herself and
bastards in royal magnificence. Nothing
can justify assassination; but why-, under
such circumstances, should there be any
marvel at the rise of Nihilism ? The Czar :
sowed the wind and reaped the whirlwind. .
The printing press and the telegraph will
finally explode royalty in Europe.
THE TIDE OF IMMIGRATION.
Superintendent Jackson, of Castle Gar- !
den, New Y'ork, referring to the fact that j
500,000 immigrants will reach this coun- i
try by the end of the year, gives the Tea- |
sons why so few go Sooth. He says : “The j
South offers them few inducements com
pared with those offered by land agents in
Western States, and the South does not em
ploy a staff of men in Europe to describe the
advantages of emigration to the peasants,
and to recommend certain States.” A cor
respondent of the News and Courier 'found
by conversation with Mr. Jackson that more
than three-fourths of the immigrants come
provided with railroad tickets for certain
States. Only a very tew are uncertain as to
their destination. Last year they came bil
letted as follows : To New Y’ork State, 137,- j
561; to New Jersey, 11,046: to Pennsylva
nia, 31,104; to Ohio, 13,809; to Illinois, j
32,641; to Michigan, 11,303; to Minnesota, j
12,640; and to the other Western States in |
about the same proportion. Even Massa
chusetts got 11,568 sturdy persons from
Germany- and Ireland. South Carolina got
108 emigrants. The only remedy, accord
ing to Mr. Jackson, is the employment of
good resident agents in Europe. This next
year promises to be a good year for pre
senting the South’s advantages to emigrants,
for a great many dismal letters have been
sent to the old country about the terrible
snows and colds of the past Winter in the
Northwest. Illinois spends nearly §IOO,-
000 a year in the salaries of its emigration
agents, in printing accounts of the State’s
advantages, &e. Each man, woman and
child enticed within its limits, therefore,
eosts the State about $2 75. The charac
ter of this year’s emigration is excellent,
consisting lavgely of the thrifty farmer class,
driven away by bad harvests and the high
taxes caused by large standing armies.
If Georgia desires to increase in woalth
and population, as Texas does, not to speak
of tho Western States, she must use the same
means as they do, and not bo content with
the present picayune policy, which princi
pally consists in sending a commissioner
forth with slender credentials and no salary.
SOUTHERN EDUCATION.
While Messrs. Hoar and Dawes are forget
ful of John Brown's widow and attempting
to make out that the South is little better
than the infernal regions, especially as re
gards the colored people, Gen. Armstrong,
principal of Hampton (Y r a.) Normal School
for negroes, is testifying before the Massa
chusetts people thus:
“The sentiment throughout the South on the
subject of education is highly encouraging.
The change in 20 years is the most wonderful
in all the history of civilization. Our graduates
go into tho Carolinas, tho Virginias and Mary
land, and they never report to me that they
have been tho subject of hostility or outrage-
Ina'l those five States the negro teacher finds
great encouragement and warm support from
the best white people. They write me constant
ly abou t it. Y’ou people at the North have no
idea of the degree of interest which has sprung
up at the South on educational matters. Y’our
Northern papers, except hero in Springfield,
don’t give mncli spaco to Southern affairs, ex
cept to Southorn politics. Why, their colleges
for the white youth are crowded with young
men who are living on hominy to get an educa
tion, as their fathers did when they fought un
der Gen. Lee. Y’ou may be surprised if I tell
you the fact that one of the greatest obstacles to
the sucoess of our graduates is not the white
opposition but the opposition of the old color
ed preachers, men without education, wedded
to a religion which largely consists of sensuous
excitement. When one of our teachers goes
into the Sabbath School as they are taught to do,
they are quite likely to take more decided
ground against lying and stealing than the old
minister who was brought up to ‘revivals,’ and
a struggle for influence ensues, in which the old
dispensation bolds that ‘education is taking that
young man to hell.’ ’’
Practical, sensible, truthful talk like that,
sent to the Senate Clerk’s desk and read,
would do more good than many speeches
recently delivered or in preparation.
Dawes and Hoar, to divert attention
from their corrupt bargain with Mahone,
are attempting to show that a colored per
son stands no chance in the South. But
Gen. Armstrong's testimony eviscerates
their rhetorical and insincere twaddle.
The progress of the South in all good and
wholesome things is almost miraculous,
considering the obstructions put in her
path for the last fifteen years. The busi
ness men of the North are cognizant of
these tacts, and Messrs, Dawes and Hoar
will have uuwelcome reminders of it, if
they keep up their hyena autios. Senator
Vookhf.f.s, without the fear of Mahone be
fore his eyes, should let the brethren know
these things and put them on record. If
the Republican Senators desire to make
common cause with the old negro preach
ers, as well as Mahone, let them do so.
The South will keep on progressing in Spite
of them.
THE HAILWAY qUESTOW.
There are railways and railways, just as
Shakespeare defined the difference between
land rata and water rats. There are rail
ways built by the money of private individ
uals and railways built by Government sub
sidy. The war that is lieing made upon
railways is not so much confined to the
first class as the second. If the statements
made of the Pacific roads are true, never
was there a more gigantic highway robbery
and never was there “eheek” so monumen
tal as that of the Alleged robbers, who ask
to be left alone, as Mr. Leland Stanford,
their representative spokesman,insists. Just
now, Mr. Stanford and the New York_
Chamber of Commerce are at loggerheads.
Mr. Stanford’s defense is „\f the spe
cial pleader, bat it by no means overthrows
the charges made by Congressman Daggett,
who, in a speech printed in the (biyrrssi'on
d Record, gave the Southern and Cen
tral Pacific Roads such an exposure
that the managers have been ever
i since engaged in covering t/'ieir delin-
I qttency. Mr. Daggett, according hi the i
i synopsis before ns, demonstrated that the
vast property of these two corporations,
! owned in the main by Stanford, Hcnting
j yo S> Hopkins and Cbockrr, represents
; $302,3)133,592 of stock and $115,806,683
of bonds, iiui tpat the actual investment of
i the capitalist was not than $12,500.
, These gentlemen paid taxes es. than
$115,000 in the aggregate when they, went
> into the railroad business, and to-day their
, raitroa-l property atom. }$ worth, over and
above *ll (fee red and *sd*bted
ness, more ths6 miUiims. They have
for years been competting fhe public .to pay
them 8 per cent, dividend* tbi vast
amount of bogus stock which did not cost
them one dollar, and 6 per cent, interest on
bonis ybieh were issnedjto represent exten
sions of rvaas tir& were really built out of
; earnings over and aixMX- s*.j? 8 per cent.
dividends. These extortions are msd-- up
not ia-.jy from the outrageous through
rates that ** -targed upon freight to the
Pacific Coast and by am**? £f added extor
tion* and discriminations jgfmor
points. Tb* practice is to charge on Freight
billed to a town in fcsFSda not merely the
through rate to Ban Francisco or ffjeramento
—which is the same, though thace is *- dif
ference of 140 is ties in distance—hut to
add to those rates the additional' and
doubly exorbitant local rates back from Sen
Francisco to the interior point of shipment.
A single instance will illustrate the practice:
Reno is 306 milse east of San Francisco,
and hence that much nearer New Y’ork.
The shipment of a car load of coal oil from
New York to San Francisco cost §3OO, but
from New York to Reno the charge is $536
because the through rate to San Francisco
is charged and then $236 are added as the
local charges from San Francisco to Reno.
It is by such means that Leland Stanford
has been able to accumulate a fortune of
$40,000,000 to $50,000,000 within fifteen
years, and his associates in like proportion. !
There is no other Government on earth that 1
would tolerate like practices.
IV ith this enormous fortune, these men .
have not much difficulty in operating at j
Washington and stifling investigation. The
Chicago Tribune, in a fit of conundrums,
says: “Why is it that theREAOAN bill, which
" once passed the House, was allowed to
“ die in the Senate ? Why is it that Judge J
“ Reagan was never again able to put his !
“ bill upon its passage in the House ? Why \
“ is it that every measure of relief which is f
“ proposed in Congress is ruled out of or
" der, amended to its death, talked down
“ an( l defeated by a resort to all the devices
“of Legislative avoidance ?’’ The Tribune
knows very well what the answer is. There
is rottenness in Congross, and in some quar
ters little Buspected. Wait till the Republi
cans get full possession and the Lobby
warms to its woxk if you want to see fun.
When men like Leland Stanford, Mark
Hoi-kins, Charles Crocker and Hunting
ton could gather so much fabulous spoil in
a few years, what marvel that “rottenness in
the state of Denmark,” that is the American
Republic, fnlcrumed at Washington, is not
oply suspected but openly charged.
THE RAILWAY LEASE.
We understand that the managers of the
Georgia Railway were induced to consent
to the lease of their road because of the
drift of all such enterprises to common cen
tres. Nothing is more remarkable than the
consolidation of different systems now pro
gressing over the whole country-, and it was
presumed that, sooner or later, the Georgia
Road would have to make a choice between
the rival giants or be. isolated. Narrowed
down to this choice of—shall we say—evils,
the Directors of the road concluded to take
what they doubtless considered the best
bargain. Now, there is some reasonable
doubt as to the alternative proposition, as
stated by these Directors. Had the time
indeed come when the Georgia Road was
pushed to the wall and had to drop out of
existence as an independent corporation;
and has the best bargain been made ? The
Road has been leased for ninety-nine years
to Northern capitalists, who control a mori
bund concern, called the South Carolina Rail
way, into whose palsied arteries the Georgia
had poured most of tho life-blood rejoiced
in. That the Georgia Road, which had
made 12 per cent, upon its capital stock
last year; that had survived, gloriously, war
and panic unprecedented; that was the pride
of the State and a splendid heritage for our
people; that commanded three routes to the
sea; that had no fear of isolation while this
Commonwealth owned the YVestern and At
lantic link; that runs to the greatest city in
the State from another rich and thriving
municipality; that had superior connections
tapping all climates; that beheld a hundred
thriving towns along its way; tlfat had be
fore it the inconceivable future of Georgia
and the South—that such a corporation
should be gobbled up by Northern men,
who had already swallowed what was
left of the South Carolina Road, was
indeed enough to astonish any one
who allows himself to be surprised
at the most improbable events. We
think, therefore, it is at least question
able that the lease is the very best thing
possible, at one per cent, less than present
earnings, and it may not be true that either
this had to be done or isolation supervene.
When we suggest these doubts, it is not
our purpose to obstruct the scheme, if that
were possible, or to throw any cold water
upon it, if that were within our capacity.
We are willing rather to be convinced that
nothing could be more beneficial to the
people of Augusta and Georgia, as it is said
to have been beneficial to several of the Di
rectors who have been so eager to consum
mate the bargain. We are open to convic
tion, and will be pleased to hear from all
concerned. Then we shall judge the tree
by its fruits.
Trusting, therefore, that the lease, if finally
adopted, with or without the consent of the
convention of stockholders, who little dream
ed they were at the mercy of their Directory,
wilt prove a bounteous blessing to all con
cerned, we propose to accept the situation as
we find it, and to make of it what we can for
the good of this city and tho people of the
State. It may be relied upon that com
peting lines, equally wealthy and wide
awake, will tolerate no injustice or danger
ous monopoly, and from these there may
be deliverance, if any be needed.
We have not joined in the cry of mo
nopoly against any corporation for the
mere wantonness of the thing. It is certain
that combinations of railways and other
enterprises are often desirable and for the
public good. When they are neither they
deserve censure and ought to be warred on.
Very recently, the Pennsylvania Central
Road euchred the Baltimore and Ohio
out of the Philadelphia, Wilmington and
Baltimore route. The first thing done was
to lower the through rate from Washington
to New York 15 per cent. The monopolis
ing of that link has, therefore, proved a
public benefaction, and it is said to have
been done in pursuit of Mr. Thomas A.
Scott’s policy that in the long run, railroad
ing, like every other business, must depend
for its success upon the good will of the
public, and that the good will of the public
can be gained only by equitable dealing.
In this connection we may pertinently re
produce from the brilliant and incisive, not
to say most candid, Washington Capital the
definition Col. Tom Scott once gave of
monopoly:” “Monopoly,” said the great
railroader, “is a concentration of necessary
public facilities in single hands for the pur
pose of oppression or extortion. A railroad
company may be without competition, but
so long as it is operated equitably, and its
management is satisfied with a reasonable
profit on the cost of construction and opera
tion, it w[U UQt be a monopoly in the popu
lar sense of the toym, and the public will
recognjze in it a friend instead of an ene
my. The Pennsylvania Company is a vast
concentration of necessary public facilities
under one management; but as its policy is
not that of oppression or extortion, but
simply that ,pf equitable dealing with a view
to fair profits omy ana satisfactory relations
with its customers, it cannot Joe forayed a
monopoly.”
If the Georgia Railway has been absorbed
by men of equal enlightenment as {Colonel
Scott— and we would fain believe so—the
lease, if indeed inevitable, may turn out a
I blessing to everybody. We sincerely hope
that such will be the case, and that our
people ip parting with their heritage have
not only acutred mess of pottage, but a
substitute that wiU take nothing away from
their prosperity, bet develop ft nyore and
more.
TELL HER TO PROCEED, OLD MAS.
Freak of a Texas Girl—A
ing Man.
(By Telegraph to the Chinaig^,)
Galveston, April 12.—A special• from '
Hearne. Tex., dated April 11, says an Eng
lishman naniey Harry Rainsfordwas arrest
ed tb-da ( f for .bigamy ana tfisft. At Luling,
about the dth in&t., he left his family apd
kidnapped Flora Moore, a girl thirteen
years old. HA than hired a horse and bag
gy and went to Harwood, where he ex
changed his team for a fresh one and pro
ceeded to Austin. Here he pawned the
girl's watch and purchased tickets to
Heame. The girl says Rainsford told her
he wsa divorced. She telegraphed to her
father mm gjig would commit suicide if he
did not proearA Rainaford's release. Rains
ford says the girt was the cause yf h>s elope
ment. intended to abandon
Jaer at the first opportunity. Great indig
nathgy -prevails.
m
HORS FORD'S ACfft PHOSPHATE
f# Ser Perfection A* Cam Be CipKtef.
I have uW IJorsford’s Acid Phosphate
for nearly fifteen months, and An only say
that in snch cases as it is indicated, it is as
near perfection as can be expected from any
remedy. E. 0. Newport, M. D.
West Meriden, Conn.
AUGUSTA, GA., WEDNESDAY MORNING, APRIL 20. 1881.
SOUTHERN SECURITIES.
THE VALUE OF GEORGIA AND CEN
TRAL RAILROAD STOCK.
Are Recent High Prices Extravagant For
These Securities !—Strength of the Com
panies and the Value of Their Re
sources—Northern Capital Let Loose in
Southern Markets—New York Planting
Hundreds of Thousands In Augusta.
The past week has been without parallel
in the stock market of Augusta. Under the ex
citement of railroad combination and the stimu
lant of New Y’ork capital, operators have seen
one of our favorite home securities tower way
up in the list and round of in a golden ball.
Three weeks ago the man who would have load
ed up on Georgia with the thought of seeing it
scale 143, would have been thought mad. But
facts sometime overleap the wildest fiction. Two
great corporations have opened their purses;
Georgia Railroad stock has been raked, scraped
and blocked, and has commanded prices with
out precedent since the war. Nearly every
available share was lifted from Augusta and
scores of country stockholders have thrown
their chosen investment upon the market, un
able to resist the bloated figures. No sooner
did the furor for Georgia cease than excitement
in Central commenced, and, although no such
violet beat has prevailed among the brokers as
yet, the stock shows an excitement and a
strength well marked and growing. It may be well
just now, then, to stop and inquire how much of
this stock-flush is hectic and how much is ruddy
glow; whether speculation has been the princi
pal cause of the extreme activity of the one or
the buoyancy of the other. In a temporary lull
of the market, an analysis may bo made which
might prove both interesting and profitable; for,
let it be remembered, “it is not the billows, but
the calm level of the sea from which all heights
and depths are measured.”
What la the True Value!
It is not an uncommon thing, during pros
perous times, to note rapid rises or fancy prices
in worthless stocks. So marked and successful
is speculative effect, that good securities too are
frequently buoyed beyond their line, and it be
comes difficult to re-establish the real standard.
Frequently is the question asked: What is the
true value of Georgia Rraiload stock? The
value of any railroad stock, admitting that its
bonded indebtedness is well in hand, must de
pend upon the importance of the line and the
amount of available assets of the road. When
we say importance of the line, we mean the
business which its position commands. The
traffic which the Georgia Railroad controls, we
all know, is enormous. Since recent combina
tions of Western roads with South Atlantic out
lets, it has secured all the business it could do.
Even without any combination or arrangement,
it could not be shut off from Western freight,
as has been shown. It is bound to claim a heavy
share of the Western and Atlantic through cars;
for Augusta, which is the centre of the South
Atlantic railroad segment, is properly the dis
tributing point of the Southeast. Ii is’ the only
Western dependence of East Georgia and
Western Carolina, and condenses in 171 miles
of main line a certain business. It was the first
route ever projected from the seacoast to the
West, and is the principle feeder of this section
now. These are facts. Let us see how. the fig
ures bear us out. Below will be found an ab
stract of the income of the road for the past
seven years;
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Glancing at the net inoome account of the
road, we have, on March Ist, 1880:
Net earnings railroad and bank. .;.$424,512 77
Dividend A. and W. P. R. R 32,000 00
Dividend Rome Railroad.. 14,893 15
Rent rolling-stock W. R. R. of Ala. 18,000 00
Coupons account 110,000 00
Miscellaneous 8,513 00
$607,919 83
Dividends (6 per cent.) $252,000 00
Interest on bonds 93,530 00
Interest on M. and A. R. R. bonds. 39,220 12
Interest on W. R. R. of Alabama... 33,26i ) 00
Taxes, legal expenses, etc 17,645 00
Balance surplus for the year 122,264 00
• $607,919 83
This year’s statement, though not yet pub
lished, far exceeds this. The net earnings of
the Railroad and Banking Company are nearly
SIOO,OOO in excess of last year’s, same date ;
while they have a surplus of over $30,000
more than per last report. The bank itself has
made, lor the year, $41,000, or 1 per cent, of
the whole capital of the company. Some idea
of the enormous property of the'Georgia Rail
road may be gained when it is remembered
that, exclusive of the Macon and Augusta Rail
road and branches, it operates 231 miles; that
it owns jointly with the Central Railroad the
Western Railroad of Alabama ; that it owns the
Macon and Augusta Railroad entire, and the
Port Royal Railroad one-fifth. The Georgia
Railroad owns 4,000 shares of Atlanta and
West Point Railroad stock—worth nearly $500,-
000; 1,489% shares of the Rome Railroad—
quite $150,000-; 50 shares Port Royal and Au
gusta Railroad—ss,ooo. Between October 10th.
1866, and January 15th, 1880, the Georgia
Railroad had paid in dividends $3,870,570.
Such a showing is, indeed, a sound one : it is
no wonder that the regularity of its dividends
and the stability of its company have command
ed higher price’s for its stock. Let ns look in
the same way at
The Central Hallway.
Here, too, is a great corporation operating
nearly, if not now quite, 800 miles of railroad ;
the principal feeder of the largest coast city in
Georgia. One look at their general balance,
say, August 31, 1879, a fair specimen, will
suffice:
Construction and equipment. .$ 7,800,000 00
Real estate 93,238 00
Stock and bonds of other com
panies 3,751,896 00
Sundry account 276,874 34
Express, R. R. and bank 1,616,301 11
gents, leased lines and interest. 712,080 33
Cash on hand 235,860 52
Profit and loss 844,546 78
Capital stock $ 7,500,000 00
Funded debt 13,617,000 00
Dues and deposits 853,310 17
Unclaimed dividends .... 68,735 67
Ocean 8. S. Company 112,949 95
Bills payable 65,745 38
Earnffigs R. R. and bank 2,824,546 62
Sundry dues to qthef railroads.. 108,510 55
$15,150,798 30
The Central Railroad owns the following val
uabe property, in the way of stock.
Shares. Value.
i Ocean 8. S. Cos 7,950 $795,000 00
IS.W. B. B ; 7,775 777,500 00
V. & B. R. R 80,000 00
Savannah, Griffin and N-
Alabama V. 155,000 00
Mobile and Girard R. B 4,361 436,100 00
Upson County B. B. 1,517 151,700 00
Eatonlon Branch 395 39.5Q0 Oo
M. Ass. 500 0O
Westers Railroad of Ala
bama . .. 838.843 00
Savannah Cotton Exchange. 1 300 QO
The value of such property can scarce
ly be estimated. The premiums demand
ed at home and the eagerness with which
Georgia and Central Railroad stocks
are sought abroad are most substantial
evidences of their worth. During the past
fifteen years of the unsettled condition of the
South, the comparative poverty of her people
and the ineomplrigness of ' her commerce,
Southern property has boea undervalued and
Southern securities have been held at disco act. -
Floating capital in the South was scarce; men
ey of the North, if not locked up in Govern
ment gold bonds, carefully kept away from
Southern investment. But’ within the last two
the South has witnessed the revival of
buiinesjf, and enjoyed the restoration of confi
dence. The commercial i,4Vri er between the
sections have given away even Before political
differences have been entirely settled, and the
Sonth feels the first overflow of Northern mon
ey: The rabid miser, Gaspard, of Normandy,
in the Hautied castle was no more capable of
hoarding his coin vithir. hie bosom. than one
sectiotis to pen up the flow of capitel Srcm the
South• ihe exhibition hi" last wdet fheff we
conclude white containing something of the
speculative, was mere than anything an exhibi
tion of the confidence of Northern capital in
Southern stock. We do not think we exagger
ate when we say that 20,000 shares of Georgia
stock have been stacked up in New York and that
much Central is being added to the already
large amount now on hand. Georgia Railroad
< bonds & ! ' a Also being eagerly purchased by
| Sorwefn buyer*, fifoly list week an Augnat*
i broker placed is New Tork city s2au,3U> oi
| Mock in anew tactory extension for Augusta,
Such eSiubitjgns are encouraging: but the free
dom with which Ifort.Wn investors now seek
Southern securities will enable onr people to
more eorre*Uy value their stocks and bonds.
Georgia Railroad stock, a* promifiep: railroad
officials and capitalists, after examining the
showing we have given above, have eoneludbd,
is ricMy worth 140; and the general impres
aion U tfiafCentral is just as valuable. There
is no reason why it should not be. We should
then advise all those who yet hold Georgia to
remain confident at the value of their stock;
j nor should Central |plders be fooled bv a flare
up in speculative qixeles. Both these stocks
are gilt-edged, and kre worth twenty dollars a
: share more than thy are ordinarily quoted at.
Let those who have ibid Georgia and Central,
then, reinvest if thaj can, for these securities
are backed by growiag corporations and gold
| rimmed property. There will continue to be
; prime demand trooA the North for Southern
securities, and theaf two wUI alwavs be la
voritea in the lists.
THE HAILHOAD COMMISSION.
Editors Chronicle and Constitutionalist:
If in the name 6i and in behalf of the
dear people crimes Are not committed equal
to those whidh Madame Roland said were
committed in the name of liberty, it is a
fact beyond cavil or dispute, that tnach of
unnecessary and unwise legislation is at
tempted under this guise. Some of it finds
its lodgment upon the statute books of the
several States and of the country at large.
The demagogue incessantly mouths of his
devotion to the people and their interests,
and to serve his own purposes endeavors to
make them believe that they are the victims
of power unjustly and tyrannically used.
The mere politician, to add to the span of
his public life endorses the cry in a some
what modified, form, while the statesman
quietly bnt thoughtfully seeks lor the real
causes of public wrongs and endeavors to
remedy and redress them by means the
most broad, eqnitable and just, and least
likely to produce discord and dissatisfaction.
It is believed by many outside of railroad
corporations that the recent railroad legis
lation of Georgia receiv ed much of its in
spiration from mere demagogues and po!i- j
ticians, and that cooler and more sensible 1
men were carried away for the time by the
storm which had been raised against rail
roads and their management. And it is no
less confidently believed that upon a calm
review of the legislation complained of,
under different circumstances and con
ditions, the present Legislature will con
sent to repeal the law creating the
Railroad Commission and defining its
power, and will enact in its place one
so plain and fair as may put an end at
once to the strife and litigation which has
been evoked, and which will in time render
easy of solution the vexed problem of’the
true relations of the people and the rail
roads. Railroads are no new things in
Georgia. For nearly the half of a century
they have been part and parcel of her life
and being. All other agencies combined
have not done so much to raise her to her
proud and unquestioned position as the
Empire State of the South. They have
pierced from the seaboard to the Tennessee
line, from the eastern line to the western
border, and a portion of the people of the
State have invested sixty millions of dollars
of their money in these enterprises. Are
not these investors, their wives, children
and dependents, a part and a very consid
erable and important part of the people of
the State? And are they and their property
rights not entitled to fair, just and liberal
treatment at the hands of the representa
tives of the people? Is there a man, woman
or child in the State of Georgia, whether
owning railroad stock or not, that has not
been, and is not daily benefitted by these
railroads ? Has not every agricultural,
mechanical, industrial and educational en
terprise in the State been quickened and
sustained by these railroad enterprises?
Why, then, should they not be fostered,
protected and fairly dealt with in view of
the great and varied public benefits which
have accrued from them ?
But it is said that they discriminate
as to freights against the dear people. Up
to the war no complaints of a serious na
ture were heard against the railroads of
Georgia and their management, and yet
there must have been discriminations at
some points, and perhaps extortion even at
others. More than twenty-five years since
the Soutwestern Railroad was approaching
what became Oglehortpe. in Macon county.
The means to build it farther were not then
available. A company of speculators, with
a view to their own interests, purchased the
land upon which Oglethorpe stands, di
vided it up into lots and sold them to many
persons who saw visions of wealth in the
new town •at the terminus of a railroad.
And for a year or two Oglethorpe flourished
and assumed all of the airs and importance
of an embryo city. But Americus wanted a
railroad, and the iron horse soon careered
by Oglethorpe, to Americus, to Albany, to
Outhbert, and finally slaked his thirst in
the waters of the Chattahoochee at Eufaula,
on the borders of Alabama. The investors
in Oglethorpe were ruined, and the place,
once lively with a cotton and grocery trade,
is now noted for tumble down buildings
and the most virulent forms of chills and
fevers. The people of Oglethorpe pocket
ed their losses with the best grace thoy
could command, and the railroad went on
to develop anew country and to stimulate
the growth of other towns. The public
was benefitted while the few suffered.
There was no complaint of this. No
body appealed to the Legislature for a
railroad law or a Railroad Commission to
prevent the ruin of Oglethorpe. Could this
experience have been repeated in Georgia
within the last three or four years without
causing a stir inside and outside of the Court
Houses and the Legislature ?
As has been stated, the railroads of Geor
gia were conducted successfully for many
years without complaint from the people,
the politicians or even the demagogues.
After the war, when they were loaded
down with debt and engaged in a ruinious
competition to keep out of a Bankruptcy
Court and the hands cf a receiver, com
munities and individuals may have had
cause of complaint, and even just cause of
complaint. Just cause of complaint is used
for the reason that many of the complaints
when examined were far from just.
Newspaper men have been in the habit of
impressing upon the public that almost
every man is afflicted with a hallucination
that he cun run a newspaper. The many fail
ures which have been made and are daily
being made in thD line, would seem to con
flm the assertion that the hallucination is
somewhat widely spread. It is but a fair
retort to say that about this time many
newspaper men became afflicted with the
idea that they were just fitted to run a rail
road. Though this hallucination has not
been as widely spread as the other, the
failure of the Railroad Commission and the
railroad legislation, both, of which were
largely due to these newspaper men, would
tend to show that the one hallucination was
as deeply set as the other.
But admitting for the sake of argument,
or to make it stronger, admitting as a fact
that all of these complaints were just, was
the remedy proportioned to the disease?
Did it require a statute taking the railroads
out of the control and management of their
owners and officers,and turning them over to
a Railroad Commission of three, armed and
equipped with legislative, judicial and ex
ecutive powers, to remedy the complaints
of shippers at a few points, and to keep
certain towns and cities from the threaten
ed fate of becoming way stations ?
Was it fair, equitable and just for the
people who did not own any interests in
railroads, hut who enjoyed all the benefits
and conveniences arising from them, to take
from the otbejt people who did own sixty
millions of railroad property and place it
in the hands of other people to manage for
them ? ' Virginius.
THE TRIPLE ALLIANCE.
What .the Louisville and Nashville Peo
ple Say of It.
[.Special lo the Chronicle and (JonstUuiioitaXist .]
Louisville, Kv., April 11. —Gen. Alexan
der, Vice-President of the Louisville and
Nashville Railroad Company, says there is
no truth in the reported triple alliance be
tween his road and the Georgia and the
Georgia Central; that is, that there is ne
new arrangements. A combination was
formed a year ago, to vyork in each other's
interest, and it has not been ehanged. The
position of this Great Western corporation
seems to be more of one who is looking fa
vorably upon the combination of others
than of an active partner in the business.
Mr. Wadley, of the Georgia Central, seems
to be the central figure in fhe alliance.
4 G®o?J Investment.
If the managers qf the Louisville and
Nashville have any ulterior designs of pur
chasing the Georgia Railroad, they careful
ly conceal them. The Georgia Road and
the Central would each be a very desirable
acquisition. If both could be gained no
doubt the Louisville and Nashville would
be glad to procure them. By connecting
; Augusta and Knoxville, which no doubt
will be doB6 before logg, the Louisville and
Nashville would have an entirely indepen
dent line to the sea, and what is more, it
would cut off one of the most desirable con
nections in the future of the Cincinnati
Southern. The managers of the Louisville
and Nashville sav very freely they consider
Georgia Railroad Btock a very good eight
per oent. security, so it is not strange they
should buy it at 130 and 135.
- -■ eriG
MVROERBD IN RED.
A Missoni! Farmer Has HU Till-oat Cat
While Asleep.
(By Telegraph to the Chronicle.)
Cincinnati, April 12.—A dispatch from
Cape Girardeau, Mo., says John B'vans, a
former living as** the**, hifi fhroat
cpt while In bid Sunday night and died
from- the effects of the wound yesterday
without being able to give any account of
the affair. Four persons were sleeping in
the room where the tragedy qicwxid, one
cf whom a hqy, in hed with the wound
afi man; at)d nope of them seemed to have
kfiown anything- about the crime until the
Wounded man gave an alarm after rousing
from a sort No sospicion rests
strongly on aauy.
LEASED AT LAST.
SIR. IVADLET GETS CONTROL OF THE
GEORGIA RAILROAD
Via the South Carolina Railroad—The
1 Georgia Rented Out to the Owners of
1 the Carolina Road for Ninety-Nine
Years—Terms and Guarantees of the
Lease—YY’hat President Phinlzy Says of
I the Compaet—Ten Per Cent. Dividends.
Yesterday morning the air about the
j Georgia Railroad Bank was thick with fog
and rumor. It was known that in addition
to the regular meeting of Directors, several
of the corporation kings had loaned their
ponderous presences to the councils, and
in the murky, view every move was magni
fied and every image loomed into a ghost.
On the stock markets all was uncertain.
Banks demanded large margins from opera
tors, and in the heavy atmosphere nothing
but danger signals could be seen. Each
man on the street had his own translation
of transactions within tho banking rooms.
Some said that Mr. Wadley’s friends had
i enough of stock to control the Georgia
I Road, and had gone in to get the keys
j from the colored janitor and take' pos
session. Others asserted that the Rich
mond and Danville Railroad, which
was represented by General Haskell,
on the ground, had offered twelve per cent,
to the Georgia stockholders and was pre
pared to buy out the Central, too, if pushed
to the wall. Naturally enough, the more
absurd a rumor was the more credence it
obtained, and at twelve o’clock the Board
temporally adjourned. When it was found
that action had been deferred until a com
mittee was ready to report confusion became
worse confounded. The excited brokers de
clined to be comforted, and the hungry re
fused to eat. There was not a single direc
tor who indicated the line of policy to be
adopted. All were as innocent as lambs,
and even Mr. John H. James, who had 3,-
000 shares of Georgia in his bank, had a
look on his face which resembled a blank
check—signed, but not filled out. In short
he seemed resigned, but whether from de
light or chagrin, could not bo detected. Mr.
Fisher and Mr. YVadley looked serene and
dignified—the one as if he were spending
Sunday in Aiken; the other as if he were
buying lumber for his Washington county
saw mill. And yet all of these gentlemen
knew what had been determined upon, and
were only arranging details for
dous operation. Georgia Railroad stock
sold at 140 during the morning, ranging
firm and full, while Central was a little
weak at 124. Through the afternoon the
suspense continued, and night come on
with no solution yet. Finally, at seven
o’clock tn the evening, the bubble burst,
everybody’s eyes wore filled with soap
suds, for the most improbable thing, of
course, transpired—‘ ‘The Georgia Railroad
had been leased by the owners of the South
Carolina Railroad.” As soon would one have
predicted that Hamburg would purchase
the city of Augusta; but this is how it all
came about. A Chronicle representative
was soon admitted into the inner court and
loaded with the following facts:
The Board of Directors of the Georgia
Railroad have agreed to rent out the Geor
gia Railroad and dependencies to the own
ers of the South Carolina Railroad, consist
ing of William M. Wadley, John H. Fisher,
Moses Taylor, Samuel Sloan and others, for
the sum of six hundred thousand dollars
($600,000) per annum. This sum is to be
paid, three hundred thousand dollars
semi-annually, the rent to commence April
first, eighteen hundred and eighty-one,
and continue for the term of ninety-nine
years. The lessors, the Georgia Railroad
Company, will retain the bank building
and banking department, including all
cash on hand, and $25,000 in bonds of the
Compress And Elevator company of Port
Royal, and all real estate not essential to
railroad purposes. The Georgia Railroad
Company is to rotain in its custody all tho
bonds and stock of the company, but the
lessees are to have the dividend and voting
power of the stocks and bonds. The les
sors, the Georgia Railroad Company, are to
pay interest on the entire bonded indebted
ness of the Georgia Railroad and the Macon
and Augusta Railroad. The lessees are to
pay interest on the Western Railroad of
Alabama.
The terms of the contract require the
lessees to keep the property of the Georgia
Railroad Company in good condition, sub
ject to inspection at the pleasure of the
lessors, and must return it in the same con
dition as they receive it; nor are the lessees
to encumber the property with liens of any
sort, or to use it in violation of tho terms of
the charter of the Georgia Railroad and
Banking Company. As securities for the
proper compliance with the terms of this
contract, the lessees are to deposit one mil
lion dollars in United States bonds or other
bonds of equal value, and the title to all
rolling stook, with such as may be re
newed from time to time, to remain with tho
Georgia Railroad and Banking Company.
The Discussion.
The discussion which led to this most
important decision was one which was
marked by its earnestness and complete
ness. The entire ground of the railroad
situation was taken in; tho status of the
Georgia and Carolina system wflll consider
ed, with the dangers threatening the inter
ests of the stockholders of the Georgia
Railroad. There was natural hesitation over
the consummation of any form of lease,
directors desiring to be fully enlightened
on all cardinal pofnts before a step so con
clusive was taken; but when the nature of
the case and the fairness of the proposals
were taken into consideration, nearly unani
mous consent was given, bnt one member
of the Board voting nay. Gen. E. P. Alexan
der, Vice-President of the Louisville and
Nashville, but who is a director of the
Georgia Railroad .was not present, but tele
graphed his approval of the plan, which
places the Louisville and Nashville Rail
road en rapport with the new system.
To one not accustomed to view the mat
ter, recent operations of the Richmond and
Danville Railroad, backed by the Clyde
Syndicate, have become alarming. They have
leased the Air Line; they have gotten control
of the Northeastern Railway of Georgia: they
are said to be reaching out after the Atlanta
and West Point Railroad and tho Western
Railroad of Alabama, in order to complete
their projected arc from Norfolk to New Or
leans, and bind the Gulf of Mexico to the
Atlantic Ocean. They are finishing their
North Carolina route to Paint Rock, on the
Tennessee line, and will soon have ail inde
pendent road to the West, through Knox
ville and Columbia to Augusta, whioh will
be nearer than through Chattanooga and
Atlanta to Augusta. Any unprotected line
in the Southern system then would stand
no chance against such a giant’s causeway,
and the Board of Directors have concluded
that where foreigners conspire homefolks
must combine.
The Georgia Railroad Organization.
By the terms of lease the organization of
the Georgia Railroad, President Phinizy
says, is to be fully maintained; and the an
nual May Convention of stockholders this
year wjll he held as usual; stockholders
and families being brought free to Augusta.
Nor is there to bo material change in the
operation of tho Bank; sq that the business
community of this city, with whom this
institution is so popular, will feel no shock
and experience no inconvenience. The
Georgia Railroad Rank, it) short, will have
ample capital to operate upon, with the
same securities as heretofore.
Ten Per Cent.
The six hundred thousand dollars rental
of the Georgia Railroad will enable that
company to pay up the annual interest on
its bonds—about $160,000 and leave a
ten per cent, dividend. It will also allow
an annual surplus of ¥-10,000 to be set
apart as a sinking fund; every time a bond
is redeemed, tpat much money will be
added to the dividend of stockholders; so
that when the debt is paid, the dividends
will amount exactly to 11.88 per cent.
Mr. Phinizy said, last evening, to a
Chronicle reporter, that this was not a
lease in disguise to the Central Railroad,
but was a movement in the interest of
Augusta, Athens, and all points on the
Georgia Railroad. It was designed to build
up the South Atlantic ports and enable
them to co-operate successfully with all
points Rast and tpest.' '
The Reasons for tRe Lease.
The reasons for this lease were fully out
lined by the Chronicle three weeks ago.
When we first sketched the plans of a simi
lar combination, propositions had been for
mulated by President Wadley, of the Cen
tral Railroad, and President Phinizy, with
a committee of Directors, was invited to
Savannah to consider substantially the
same proposition as was yesterday adopted.
Legal obstructions placed themselves in
the way to a lease by the Central Railroad
however, but the terms were retained and
the plan shifted to another quarter. Mr.
Wadley determined to go oVer with the
owners of the Sonth Carolina Railroad, and
uniting with his friends Taylor and Sloan,
pat his plan into perfect form. How
completely this was done, the con
ditions and agreements ’ Above recited
prove, and thd President of ti>t Central
•Railroad by
becomes cemmapdev of fhe land and naval
forces of Georgia and Our Q h na . since the
c^P tnre and the Arsenal at
Augusta, since the time when Gen. Ogle
the tide waters of theSe
vannah no man has been more cctwpiwely
monarch of his suits-. w uuwvertf the sit
'fi aosth Atlantic than Wm. M.
Wadley u just now
President Phinizy '
Stated last evening that the' rent of the
Georgia Railroad to the gentlemen named
I k “ e contract would be of great advantage
to Augusta and the stockholders of ifie
Georgia Railroad. The railroad shops would
be retained here and probably enlarged.
The lessees would begin to make something
for themselves out of the road after awhile
though they probably conld not do it for
the first two years. The meeting of the stock
holders in May would probably be the last
that would ever be held. The stockholders
would certainly be paid a dividend of ten
| per cent, on their- stock, and this would
gradually be increased as the bonds were
taken up and the interest thus paid re
duced. The stock, paying ten per cent.,
Would be worth 175.
Mr. Phinizy said it was a great mistake
to suppose that the action of the Board had
to be ratified by the stockholders. The Di
rectors were the corporators and could act
without reference to the stockholders, who.
in convention, were merely an advisory
council. If a majority of the stockholders
voted against the rent of the road after the
Directors had made the contract, that would
not abrogate it.
What Judc(e Keeae Mays.
Judge Wm. M. Reeso, who yas in the
Chronicle office last evening, sftid the new
arrangement would be of immense advan
tage to Charleston. A line of fine steamers
between New Y’ork and that city would be
at once established. This was not a lease
in disguise to the Central Railroad. While
Moses Taylor owned between three and
four thousand shares in the Central Rail
road, Mr. Sloan did not have a share.
When asked where would the bank capital
of the Georgia Railroad Bank come from
now, Judgo Reese said it did not require
any capital. It would have just as much to
back it mow as it ever did. The annual
payment of S6OO,(XX) would be reapMMiible,
and any creditor could sue the company
and got judgment which could be easily
satisfied. He believed the stock of the
Georgia Railroad was richly worth one hun
dred and fifty as a ten per cent, stock. He
believed that the arrangement would work
greatly to the advantage of the Georgia Rail
road stockholders.
It was very probable that the South Caro
lina and the Central Railroads would work
in harmony together, and that Charleston
and Savannah would be given equal advan
tages.
A NOBLE THING.
Mr. Seney’g Gift-a to Wesleyan alk it Emory
Colleges.
Editors Chronicle and Constitutionalist:
"Do noble things, not dream them all day long,
And so make life, death and that vast forever,
one grand, sweet song.”
Mr. George I. Seney did “a noble thing”
when, a few days since, he donated to
Wesleyan Female College $50,000, having
previously bestowed upon Emory College
the same amount- $50,000 ! Mow much
can be accomplished with it? Dear old
Alma Mater, how I rejoice for you now, and
ever will Ibo grateful to the generous man
who so liberally ails our “Mother of Col
leges.” From the Western Advocate I copy
the following:
“Mr. George I. Seney is the son of a
Methodist preacher and a graduate from
Columbia College. His grandmother was
a daughter of James Nicholson, the first
Commodore of the United States navy. One
daughter of the Commodore was the wife of
Col. William Few, Ignited States Senator
for Georgia in the first Congress. Another
daughter was the wife of Judge Montgom
ery, who was a member of the first Con
gress from Maryland. Another daughter
was tho wife of Albert Gallatin, tho ’emi
nent revolutionary statesman and financier,
who was Secretary of the Treasury under
Jefferson and Madison. Mr. Seney is now
President of the Metropolitan National
Bank, New York. How sensible has he
proven himself, in that he bestows rich
gifts and attends personally to the distribu
tion of them. May he live long to eDjoy
the knowledge that his wishes are being ac
complished as he desires. Asa Methodist, I
was pleased when I heard of the magnificent
gift to Emory College, bnt when I heard of
the additional donation to Wesleyan Col
lege my heart gave one glad, exultant throb,
and with it died the last faint gleam of hos
tility to the North. Tho victory which be
gan when Horace Greeley gavo security for
Mr. Jefferson Davis, culminated when Mr.
Seney so liberally endowed my Alma Mater,
and now, after near sixteen years' resistance,
I own myself conquered, “Conquered by
kindness.”
We are informed that Mr. Seney learned
the science of finance through his connec
tion with his relatives, the Gallatins. ‘ ‘Great
deeds are great legacies which work with
wondrous usury,” Mr. Seney has learned
(shall I say through his connection with his
brethren, the Methodists) a higher and
more spiritual style of finance, “He that
giveth to the poor lendeth to the Lord.”
“Beggar am I in all save thanks,” hut I
know I but echo the sentiment of eight
hundred thousand Southern Methodists
when I pray our Heavenly Father that His
richest blessings may rest upon our North
ern friend and benefactor.
Mbs. Gertrude Thomas.
BUTLKR ON MAHONE.
He Predicts the Virginian’s (.’allure tu
Disintegrate the Solid South.
[ Special to the "Cincinnati Gazette.]
New York, April 10.—Senator Butler, of
South Carolina, who has been in the city a
few days, as he said, “to get away from
talking politics,’’ was approached to-day by
a reporter of the Tribune, who asked him
whether he did not think the recent nomi
nations made by the President of Federal
officers in the Southern States would tend
to conciliate the Democrats, and cause them
to break the deadlock in the Senate.
He replied emphatically— “You have cer
tainly hit the right idea when you speak of
the recent nominations conciliating them,
because they have giveu great satisfaction.
But while it is the right way to strengthen
the Republican party, and bring , about a
better state of political feeling in the Sonth, it
will not cause the Democrats to recede from
the position they now hold in the Senate.
That a bargain was made with Senator Ma
hone, there ein be no question, and we do
not intend to be a party to the deliver}’ of
the goods in that bargain. The Mahone
movement, I do not believe, will disin
tegrate the South. On the contrary, the re
sult will be that the respectable people will
effectively support the Democratic party,
because of the belief that the Republican
party has recognized repudiation. This be
ing the case, the Democrats will assuredly
desert Mr. Mahone in the next election,
which means his defeat, becauso without
the Democrats he cannot possibly carry his
ticket through. It would not surprise me
if General Wickham and Peter B. Stark,
two of the most prominent Republicans in
Virginia, openly espoused the cause of the
Democrats, because of their feeling of dis
gust that Mahone has been so thoroughly
endorsed by the Republican party.
“Reasoning on that theory, then, you
consider that Gen. Mahone is dead, po
litically ?”
“Most assuredly. Unless he secures the
control of the patronage in the Senate and
State, which he will do should the Demo
crats give way, and allow the Senate to be
reorganized, he can not carry the State.
This we intend to prevent, if possible, even
if we have to remain in Washington all
Summer. We are extremely anxious to go
into executive session, and confirm the
nominations made by the President, but
we shall never be a party to one of the most
outrageous political bargains that was ever
made, by allowing the Republicans to put
in Gorham and Riddleberger, and reorgan
ize the Senate.”
yOIIKTOWt CELEBRATION.
The Undertaking an Assured Success
Providing for the Appropriate Recep
tion and Entertainment of French
Visitors—Other Arrangements.
(By Telegraph to the Chronicle.)
Washington, April IR. Hon. John
Goode, President of the Yorktown Associa
tion, haa Galled on President, Garfield and
invited him to deliver an address at the
laying of the corner-stone of the Yorktown
monument, during the centennial celebra
tion next October. The President heartily
consented to do so, and expressed great in
terest in the success of the entire celebra
tion. Mr. Goodo also called on Secretary
Blaine, who, under act of Congress, has
control of the $20,000 appropriated for the
entertainment of French visitor, and found
him also deeply interested in the matter.
He infopqed Mr. Goode that it is his inten
tion to secure a large man-of-war for the
reception and entertainment of these dis
tinguished guests, and that so far as the late
department is concerned, the programme
will be worthy of the occasion. The Con
gressional Committee, of which Senator
Johnston is chairman, also has $20,000 at
its command, and is already actively at
work making preliminary arrangements for
the celebration. The executive committee
will leave Washington for Yorktown next
week, on a Government steamer, to aaieot
sites for the erection of nejeoiary buildings,
wharves, etc., and tpe entire Commission
will assemble at Old Point Comfort at an
early day after the adjournment of the
Senate, to continue in session and perfect
all needed details during the S'etuinej,
PREACHY DOWNED HfJR.
A Desperado \\ ho ij*nt To* Mach Depea
denye tu a Dame of Blair.
(By Telegraph to the Chronicle.)
Denvfb, April 12. — A dispatch from Santa
Fe, says : “On Saturday afternoon, at a
railroad camp on the line of Denver and
Rio Grande Road, dCigues west of Chama,
N. M., & desperado from Texas named
Raker, with two companions, entered the
place, rode np to each store and oa and
robbed each proprietor AU his money
and At the last store, kept by
a Ftaaohiaaß, the roughs collected every
man in the place numbering 40,
them in line under their shooters and
compelled them fake a drink at the
Frenchman'- expense, Baker doing the hon
ors. Finally, Baker made them all sit on
the floor and started away, to
shoot any who moved, he turned the
Frenchman sprang upon him, took away
both his revolvers ana shot him dead. The
other men then rose and fired a volly at the
other roughs, wounding- one, bnt both et
ched on their horses.
S3 A YEAR —POSTAGE PATH
THE KENTKI) ROAD.
THE CONTRACT SIGNED, SEALED AND
DFLIY’RRKO.
Tlie Georgia Railroad and It. IK-priitltfl
eiea Placed in tlie Hand, of tile I.cets
YVhat Business Nsu of Aagasla
Think of the Arrangement.
The contract between the Georgia Railroad
aud Banking Company and the owners of the
South Carolina Railroad, was formally signed
yesterday by the high contracting parties and
the property turned over to the lessees who are
now in lull possession of tho Georgia Railroad
and all its dependencies. Mr. Chas. H.
I Phinizy, President of the road, is acting as the
! a S en f of the lessees. The officials declined to
! Si y e a copy of the contract for publication, but
stated that its terms are substantially the same
as those published in the Chronicle yesterday
morning. The lessees named in the eontraet are
“Wm. M. Wadley, Moses Taylor, John H. Fisher,
Samuel Sloan, and their associates.’ No others
aro mentioned. Mr. Wadley is evidently the
head and front of the whole matter. He
has long contended that Charleston and
Savannah should work together for mu
tual advantage. He was at first anxious
that the Central Railroad should lease
tho Georgia and South Carolina, but there
were two obstacles in the wav- In the
first place certain Directors of tho Central Rail
road objected, it ia said, and, in the second,
there were grave doubts whether, under the
Constitution of Georgia, the Central could lease
the Georgia. This rendered some other course
necessary, and the plan which has just been
adopted was decided upon. It is not a lease
to tho South Carolina Railroad Company, as
that corporation is in the hands of a Receiver,
but a reatal to the owners of the road. It is
suspected that these gentlemen have a
controlling Interest
In the Central Railroad, and it is said that tho
next step will be the leasing of the Central to
them, thus practically making the South Caro
lina, the Central and the Georgia one corpora
tion for ninety-nine years.
The shops of the Georgia Railroad, under
the contract, will be retained at Augusta, and
it is said that they may be enlarged as the
business of the oombinatiou increases and more
rolling stock is demanded.
The contract requires that the stockholders
shall be brought to Augusta and returned
home free of charge on the occasion of each
annual convention, on tho second Wednesday
i'J May. Asa matter of course thero will be
very little business to transact, as the leasees
will have full control of the road itself. Still
it will keep up a time honored custom and give
country stockholders a free excursion once a
year.
The Richmond and Daiivillo Railroad, it will
be remembered, a few days since made an offor
to the city of Athens for its stock in the North
eastern Railroad, anil this offer was accepted,
subject to ratification by a majority of the vo
ters of Athens. It is'not believed that Mr.
Wadley will make any contest with the Rich
mond and Danville for this road, regarding it
as of no particular importance to the new com
bination. It is also rumored that the Richmond
and Danvillo will seel: to obtain a controlling in
terest in tho Central by the purchase of stock,
but this is not thought to have much founda
tion, as it is believed that Mr. Wadley, Mr.
Taylor and others interested in tho new syndi
cate, oontrol onough stock in the Central al
ready to prevent the Richmond and Danville
from getting in if it was so disposed. Tho two
combinations meet at Atlanta and both must
use tho Western and Atlantic Railroad for a
part of the way at any rate. Tho Richmond
and Danville is at present aiming to reach New
Orleans, so as to havo a line of its own from the
Gulf of Mexico to the Atlantic,and it must go over
the State Road as far as Dalton. It is probable
that whon the lease of the Stato Road expires
both of the combinations will strive to get it.
The South Carolina Railroad, it is said, will
at onoo be put in first class condition, and the
construction of several now steamships to ply
botween New York and Charleston will be im
mediately commenced, sq as to havo them
ready for
The Fall Trade.
They will form part of the Quintard Line of
New York and Charleston steamships. A
largely increased business from tho Wost for
the East, is expocted, and it is also said that a
direct line of steamships betwoen Europe and
Charleston and Savannah will bo established at
an early day. These ships will be for both
freight and passengers, and it is expected that
they will divert a large part of the tide of for
eign immigration to Georgia and South Caro
lina.
The market for Georgia and Central Rail
road stocks was very strong yestordav. Cen
tral is quoted at 120 bid, 127 asked. 'Sales of
several hundred shares were made during tho
day at from 125 to 127. For Georgia 150 is bid
and 152 a3ked, and several hundred shares
were sold at 150. Memphis and Charleston
advanced also yesterday, and is now quoted at
44 bid, 45 asked. It was reported that South
Carolina Railroad stock could not bo bonght
under 50.
What Citizens Say.
The Chronicle interviewed quite a number
of citizens on the existing situation and place
their views before our readers this morning.
Gen. M. A. Stovall said that he thought all
would live to regret tho lease. It might seem
to be a big thing for tho stockholders now, but
he doubted if it would prove to be such. Au
gusta’s interests would be a minor considera
tion in tho new combination. He feared that
Augusta’s local business would be crippled, for
preference, at the stations on the Georgia Rail
road, would now be given to through freight to
Charleston and Savannah.
Mr.' W. 11. Warren thought that the tendon
oies of tho lease might be to injure Augusta;
but if it was found to work soriously again* us,
we could havo tho river cleared out and com
pete against the railroads in that way.
Mr. Jno. F. Armstrong fearod tho effects of
tho combination. Ono of Augusta’s advantages
had been in being the headquarters of a big
railroad like the Goorgia; but now wo are not tho
headquarters of a single road centering here,
with the single exception of the Augusta and
Knoxville. The 0., C. &A. had stipulated, when
the city subscribed for its stock, that shops
should be built in Augusta, but since then had
forfeited this promise.
Ai-gmla anil the Clyde.
At the dinner table the Chroncle found Mr.
W. J. Pollard. He intimated pretty strongly
that he did not regard the lease in a favorable
light. Our local business would bo crippled, and
Charleston and Savannah would have-more ad
vantage over us in through freights than now.
He feared that in the consolidation of offices
and works in this city numbers of employes
would bo discharged,'and the forces at the
foundry and workshops diminished. Such
things would almost osrtainlv be done. A
cheapened operation of the railroad system
would necessitate this. Thus one of the stimu
lants to population would bo removed. Again,
the Georgia Railroad had distributed its pat
ronage pretty generally throughout the city.
This had always been their polioy, and it ha'd
been a wise and commendable one. Our local
foundries had made many of thoir castings;
local agencies had supplied them with much
maohlnery; printing had been given out hero,
and running material bought in the city. Now,
however, this would all float awav either to Sa
vannah or New York. The lease ‘of the Georgia
Railroad would be a great loss to Augusta. It
would havo paid our merchants to have bought
up a controlling interest of its stock and hold
it here, even if thoy had havo had to hypothe
cate the stock to carry on their business.
. Reporter -Well, Mr. Rollard, what are we
going to do about it J
Mr. Pollayd—First, we must secure an inde
pendent Western connection. Extend the Au
fusta and Knoxville Railroad on through, and
uild lines and branches up the Savannah val
ley to Hartwell and Elherton. Then wo must
tap the West this way, and open up a lino for
Port Royal.
Reporter—“ Can this bo done ?
Mr. Pollard—Yes, in this way. Single com
munities are powerless against the march of
corporations, and single lines are foehle in the
stretoh of great systems. We must fight com
bination with combination, and pit system
against system. Look at Athens. Her position
to-day is twioe as impregnable as Augusts’s.
Bhe has turned ovor her Northeastern to the
Richmond and Danville ; so that she commands
oompetitien by having ono combination on one
side and another on the other.
The Chronicle here incidentally amd in
nocently remarked that, white a prominent
Athens stockholder m ihv Georgia Road had
been strongly to favor of this lease of the Geor
gia, he had taken good care to turn over his
Northeastern stock and his town to another
combination.
Mr. Pollard smiled in parenthesis, hut with
significance. - °
Yes, continued he, wo, must unite with tho
Clyde. True, they are mostly in tavor of Nor
folk anti Lhbmond; hut if we can give them
business down this w#y they will come. We
must make friendß with them to run their Spar
tanburg and Asheville connections with the
Augusta and Knoxville, ?,uu we will make by
this association. We have been fighting them
all along; vp shall see now if we cannot work
in harmony with them. They may hvie us out
in onr Western connections, and Jan aj/1 us in
keeping Northern and Eastern freights down
over the Charlotte, Colunjhja and Augusta
The nest combination, concluded Mr. Poliard
must be Augusta a,nd. the Clyde.
Hon.' Robert H. May, Mayor of Augusta, said
he did not see hoy? the rent of the Georgia Rail
road to the ayndioate oould injure Augusta.
He thought that the arrangement was demanded
by the exigencies of the occasion, as Northern
combinations would have come in and gobbled
up the road, if such an agreement had not
been entered into.
Mr. Alfred Baker, Presid|n of the National
Exchange Bank, asked what he thought
about the sutler, said, he could not Well say as
he had hot Jet looked into the subject It was
to be supposed, however, that a combination
like that which had rented top Georgia, would
look first to the interests of the ports and would
carry all the height possible to those ports
without stopping at Augusta, by giving cheap
i it4“sgf sr ■>
Mr. \\m. H. Howard, a prominent cotton mer
l cfeWi tocSfighUhe efleot of the rental of the road
I would be.to iwatly strengthen Georgia Railroad
ato; was fully worth 150, and he did jmt Be
lieve it would go below that figure. Aa to iWe?ct
upon Augusta, he was of the opinion that it
would be beneficial rather than injurious -
Tfibre would be po suiting of rates to the coast
as one combination would control both Savan-
and Charleston, and hence Augusta would
fare better, as the combination could afford to
give better terms.
, Maj. J. V. H. of the insurance firm of
V. H. * Cos., thought it would injure
Augusta. The combination could carry every
thing through here. Instead of having a road
of onr own it would be ia the hands of other
parties. He thought It would have been far
better fqjf ua if the road had remained in
th? of tho stockholders.
Itr. Edward O’Donnell, merchant and mem
ber of Council, did npjt see how, the rental ol
the road to the ayndmate could hurt Auguaia
We would, continue to have all the advantages
th?A wuever had.
Btr. Solomon Marcus, of top firm of Myers,
&-Marcus, believed that top arrangement would
bq a bad thing for this city, as. the combination
could make a sort of way station out of it.
* Hr. Jos. Myers, of the samp firm, and mem
ber of Council, did npt think itwould injure
our cify ft, all. He saw, no reason, Avhy Mr.
Wftaley should do anything against us. It
could not stop cotton from coming here.
Mr. Wm. B. Young, member of Council and
merchant, said tho suickholders of the road
could judge for themselves whether the lease
1 was for their interests. He did not see how it
conld hurt Augusta.
Mr. C. A. Doolittle, of the firm of J. O.
Mathewson A Cos., said he had all along been of
the opinion that the lease would help rather
than injure Augusta. Whv should Mr. Wadley
do anything against us?
_ Mr. James A. Loflin said last evening that ho
did not think the lease boded any good to the
city of Augusta. Tho whole thing was for th.
benefit of the Central Railroad. The South
Carolina Road was hung on for convenience
only. It would be allowed to dry up in good
time ; and in less than fivo Year* there would
probably not be anv Georgia 'Railroad shops in
Auguste. Mr. Wadley would not wipe us out
immediately, while all the racket was going on;
but would let tho town down gentlv. He might
possibly build a little railroad going around
Auguste, connecting the Georgia with the Cen
tral, so that what through freight came this
way would not have to pay tribute to the Street
Railroad, as it would in passing through the
olty.
William M. Wadley.
Yesterday afternoon a Chronicle representa
tive called upon President W. M. Wadley at liia
room at the Planters Hotel. The Chronicle's
card was followed with a prompt response to
come up, and the reporter was once more in
the presence of “the great uniuterviewod.’’
Mr. Wadley was lying upon his bed, worn ont
with the fatigue ot three days’ arduous aud
ceaseless labor. Indeed, we thiuk it safe to
say that he had not rested since the grand ides
of buuchiug the Georgia and Carolina Railroad
system first agitated his active brain. Foiled
in Georgia, he had turned up triumphaut in
Carolina; beaten at one point, be secured
another position ; obstructed by one directory,
lie had captured two others ; confused by legal
impediments, ho overturned them all with rail
road logic aud common sense. Hu had just
signed his name to a compact which virtually
gave him control of over two thousand miles
of railway aud millions of dollars worth of
property; which concerned tho domaiu of a large
part of two States, and conveyed the power of
taxing the products of hundreds of thousands
of his fellow citizens. It was almost as
if he had a crowu-cliarter in his pocket
for two of the royal colonies of England ;
greater indeed, seems his power, it not
nis possessions, than of Oglethorpe when he
planted the British standard ou our shores.
In response to a greeting trom the Chronicle.
Mr. Wadley stated that ho had been 100 hug
unwell for several days. The Chronicle inti
mated delicately, that he had executed hia
plans admirably for a man who hail not been
feeling well.
The Chronicle stated frankly to Mr. Wadley
that there was considerable apprehension in the
city ovor the probable ett'eet oi the lease of the
Ueorgia Railroad upon our direct business
interests.
Mr. Wadley—All I can answer is to repeat
what I told you the other day; wo will uot allow
any combination to injure tlie city of Auguata.
Reporter—Will there be ant diminution of
the employes and operatives ’ot the Georgia
Railroad in Augusta ?
Mr. Wadley’—There will be no material re
duction of the force in the offices or machine
shops. The railroad service will, of course, he
mote compact; but all these rumors need cause
no great concern.
Reporter—How about the patronage of the
Georgia Railroad—a considerable item for th.
business of Augusta ?
Mr. Wadley—l see no reason why all con
tracts for material aud such thiugs should uot
be given at home; provided, cf course, our peo
ple can give them to us as ahoaply as we can
buy them elsewhero. This stendai and must de
termine our own business, and must guide us
in dealing with others.
Koporter—Once more, sir: will fair rates be
given to Augusta to poiuts slung the Georgia
Railroad ?
Mr. Wadley answered that suoh might be re
lied upon. Ample inducements would bo gives
planters along tho Ueorgia Road to send cot
ton to Augusta and deal with our merchants.
“We intend,” continued Mr. Wadlev, “to make
Auguste a great cotton market.”
How about tho Northeastern ?
“I understand.” said he, “that tho Richmond
and Danville will control it.”
The Chronicle suggested that possibly we
could do without the Northeastern V
Mr. Wadlev, solto voce, intimated that it
would bo be better to havo it it possible. A
word from Mr. Wadley is equivalent to a whole
proclamation from most men.
In fine, said Mr. Wadley, this combination is
for the protection of Georgia and Carolina. If
tho Georgia Railroad had not fallen into one
hand it would havo into another. We must pre
vent our rich section from being drained by
other roads and for other ports. Of course, we
cannot prevent some of our produce from going
to the rival ports and by cumpetiug lines. No
people can be pent up by a road, and no line
can be “bottled up” by combmauous entirely.
It is useless to think of that; but we can taka
procautions to best protect ourselves.
Mr. Wadley left last night on the Central
train for Savannah.
No man cau talk with Mr. Wadlov and not be
impressed. Tall and commanding, clear and
deliberate, thore is meaning in every word and
lower in every movement. Wo believo him to
>e as honest as ho is tireless, aud as powerful
as ho is wise. If railroads, hko planets, must
move in systems, and one hand must control
them all, we do not know any ono who conld
manage this commercial unive'isc of the South
ern States, better than William M. Wadley.
Will There Be Obstruct lon I
There was some talk on the streets yesterday
of injunctions from the citizens of Auguste and
from stockholders. A promiueut lawyer inti
mated that there might be litigation from
the Georgia Railroad bondholders, as no
provisions for the road’s ever being leased
out had been inserted in the face of
the bonds. The million dollar guaran
tee, should the $600,000 rental not be forth
coming, might hardly be security enough.—
Others contended that the contract might be
unconstitutional. An eminent corp ration at
torney last night, however—and fie is not a
larty to this transaction in any way—gave it as
lis opinion that the lease would stand all legal
scrutiny. The objection that the contract
should be submitted to tho stockholders,
though reasonable, will not affect tho lesult,
since the lessees and the Georgia Railroad Di
rectory control the stock, or a majority of it.
It is’understood that Mr. Geo. T Jackson is
tho director who cast his vote against tho lease.
Mr. Jackson could not conscieutiously endorse
the plan, and while there are hundreds in An
gusta of his way of thinking, everyone will
commend his firmness and honest'v in the
iremises. We understand that Hon. ii. D. Mc-
Janiel favored submitting the question to the
stockholders, while Jndgo Reese “threw the tub
to the whale” by stipulating that stockholders
and families must lie brought free to the city
“in the May time.” The eloquent remarks upon
whether or not the lease would ipjure the inter
ests of the great city of Auguste, wore not de
livered by any of the Board, although assu
rances were given in semi-official ways, and
“leave to print” a few patriotic and public
spirited remarks was cheerfully voted.
A BLOW AT POLITICAL ABUSE’S.
A Bombahell Thrown By Gov. I’.a ml I (on
Among the Maryland “lio^aes.”
(By Telegraph to the Chronicle, i
Baltimore, April 13. -Gov. Hamilton
fired off his bombshell in the ranks of the
Democratic bosses to-day, and it has made
a loud noise, though it is impossible yet to
tell what its effect will be. It is in a shape
of a letter in reply to inquiries of leading
oitizens, and is a review of the extravagances
and waste practiced under the boss system
in this State. Referring to the extrava
gances erf the last Legislature, he savs :
“Thereare 111 members in both Houses of
the Legislature. At the last session there
were 105 officers, employes, and beneficia
ries, exclusive of ministers of the Gospel.
The stationery, mileage and per diem of
members for the session was $.17,707.
The stationery, mileage and compensation
of the officers, employes and beneficiaries
of the Senate and House, exclusive of the
olergy, was $59,276. The details of this
extraordinary expend iture for the officers,
Ac., is more aggravated than the naked fact
itself, though that is certainly as bad as it
can be. At the closing days of the session
extra allowances and additional compensa
tion, were made to a number of offioers and
employes; true, not by tne General Assem
bly, but by the more reprehensible and
dangerous practice—on separate orders of
each House—and they were all paid.”
ATLANTA’S COTTON EXPOSITION.
Mi. Kimball Explaining Its Objects In
Philadelphia The Subscription List
Nearly Filled—Arrangements for For
eign Representation.
(By Telegraph to the Chronicle.)
Philadelphia, April 13.—Mr. H. I. Kim
ball, of Atlanta, Ga., who is now in this city,
explained this afternoon the aims and ob
jects of the International Cotton Exposi
tion, which opens in Atlanta, in October
next, and of which he is Director General
The primary object of the exposition is to
stimulate improvement in the methods of
gathering and handling cotton. Every
known device for the manipulation, trans
portation and manufacturing of the staple
will be shown, and the growth of the plant,
from sowing to boiling, will be illustrated
on th& ground. Every variety of cotton
from Brazil, India, China. Liberia, Egypt
and the United States, will be exhibited.
Of the S2OGOOO neoessary to insure the
success of the undertaking $140,000 have
already been subscribed. Arrangements are
now making for representation bv England
France, Germany and other countries.
DESERVED HIS FATE,
A LeadvilleDesperawu Punier* a .Stranger
Au-i I* Lynched.
(By Telegraph to the Chronicle.)
Denver, Col., April 13.—A special to the
Republican from Durango says: “Early on
the morning of the 10th inst. Chas. Mor
mand, a Leadville stage driver, with two
companions, entered a theatre and gam
bling house; Mormand drew a revolver as
he entered and with an oath fired the wea
pon, killing Polk Prindle, a peaceable citi
zen and a stranger to Mormand, nnd wound
ing & young man in the arm. He then fled
but was overtaken and put in jail. Late at
night some unmasked vigilants took the
prisoner from jail and hung him to a tree
in the presence of several hundred citizens.
Notice was given that it would be death to
any man who should cut him down before
morning.”
Lou By Fire,
(By Telegraph to the Chronicle.)
Wheeling, W. Va., April 12.—The furni
ture factory here of Metzner, Bchellhaos A
Cos., was totally destroyed by fire early this
morning. The loss is from $75,000 to
SIOO,OOO and the insurance about $16,000,
mostly in local and Pittsburg companies.
The fire is snppossed to have been caused
by spontaneous combustion.