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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; gffgg 2g !' iS'a- S'B jig-®! o&|§ & I "ili : : £ : 9 o*a a : P ■ ® p© ■ . as • ■ cup ; - a: : “g: : ; ■ u cc . ; • : • : • • : ' p • • • • : • s;: j:;; ;; i # h- to 00 2 mco io o to i aot 23 ** CO W OMOM I 00be iL C CC to CO C*Jl CO • CO 05 01 Oi 01 OT I C*s to . 03 H* O if* 4U QQ Rtf*i hmoco tocs> i co “to coo! tooocoo occ. wl CO© I coco Cl 00 <lb3 bo nr £QPO I MtCi+tCO Cl CO 0 CO Cl 05 to M | Oool£aiM COH* r £ -**l <Tto I by 00 oco 1 ci o•£ gjPOH* 1 i 00 to 05 oc Cl I VV 2CO I 050 -Li 881 g&ggl S* J g3wßoc) j jag-® . *-oo ; aaoco co 1 *-po Cl ■ gGL. • aoVooo I V<2oo sla> ! CDlO*-M *Ol. *-00 GIL3 I— I CD *- SID 00 !►- 0) V i eg oo hS rt-f-aioo OOCD-q OI i®CDCD Dl i —Jj-J X ! V I OIVW I 03-SCD W to CD O ro 0: -- • jj oil-! CO tO ®* I O® _! coV I 10 -it*! SS jWciiQi ——* oi I xa>3 1 X. to O ! 05 -t &to 1 CO CO i ii oo* e | *ooVe I Vo>9S d-O ►-*-*- OroP - ■ ;i 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.