Newspaper Page Text
JL
®hc Irralil and SWecrfm.
Newnan, Ga., Friday, Nov. 4, 1887.
WEEKLY CIRCULATION, 1,750.
JAS. K BROWN, Editor.
The Savannah, Griffin and North
Alabama Railroad.
The annual meeting of the stock
holders of the Savannah, Griffin and
North Alabama Railroad was held yes
terday in Griffin, seven thousand four
hundred and thirty-six shares being
represented.
Hon. W. B. Berry, of this city, was
called to the chair and Mr. M. II. Con-
nally requested to act as secretary.
President Alexander, who was pres
ent, then submitted his annual report,
showing the earnings and expenses of
the road for the past year, as follows:
Grikfin, Ga., Sept. 1st, 1S87.
To the Stockholders: The earnings
anu expenditures of your road for the
welve months ending the 31st ult.
have been:
Total earnings $60,370 73
„oi<il expenses 46.889 32
Not earnings $13,481 41
These figures indicate that the road
is earning upon an average less than
one-third of the annual interest? due
iip,,n its bonds, not to mention the in
terest upon its jiasl due coupons, which
is accumulating rapidly, as will appear
in the statement given below.
There seems little ground to hope
for any material improvement. Our
rates of freight and passage are fixed
\ tne Georgia State Commission and
cannot' be advanced. Even if they could
oe advanced, it is likely that the in-
Tan.-; • would cause a portion of the
oust ness of the road to seek other
channels. The building of the Geor
gia Pacific Railroad has made Carroll
ton a competitive point, and has drawn
elf a large amount of the best business
which this road ever enjoyed. It was
practically the death blow to this com
pany's prospects. Other roads are un
der construction which threaten to still
further circumscribe and reduce our
territory.
The operating expenses, as shown
above, indicate that the road has been
operated as economically as it is possi
ble and maintain such a line in safe
condition to handle passengers and
freight.
Tne present management, having
had charge of the operations of the
road but a few months, is in no way re
sponsible for the situation, but sees
nothing to criticize in the records of
the past. The best that was possible
seems to have been at least honestly
sought and, generally, successfully ac
complished. The Central Railroad was
the largest stockholder, having over
$600,000 of stock fully paid up, and suf
fers equally with other stockholders, in
having made injudicious investment of
its funds. The whole trouble has been,
and is, that there is not enough busi
ness to pay interest upon more than
about one-third of t he bonds upon the
road, s- unething over seven and a half
years' coupons remain unpaid.
It is a.Ire ulv known to the stockhol
ders generally that the Central Railroad
and Banking' Company has moved to
foreclose the mortgage upon the road,
ni ,u:c- ttM.mce with its terms authoriz
ing that course in case of default in in
terest.
The following statement of the
bonded indebtedness will show how
much the company is in arrears up to
November 1st, 1887:
bonds • >at standing, (due 1891). $500,000.00
Past due coupons, unpaid.. •. 262.780.00
interest due on same, 7 per ct. 6,525.63
Total bonded indebtedness$$30,305.63
The coupons themsqlves, and interest
upon i nose over-due, amount to $53,-
394 (i i annually, while we cannot ex-
sect the average net earnings (sav $12.-
300) to materially increase over the av-
*rage of the past- eight years. Each
succeeding year, therefore, accumulates
a larger and larger debt ahead of the
stock, and at the same time the ex
tensions of rival lines threaten to still
air; oer destroy its value.
Under these circumstances the pres
ent management can do no more than
to lay the facts as clearly as possible
*>efore the stockholders, for considehi-
■ ion, and for such action as shall seem
to them best.
For details as to the physical condi
tion of the property, reference is made
to the forthcoming report of the Gen
eral Manager.
Respectful 1 v submitted,
E. T. Alexander, Pros’t.
President Alexander suggested the
appointment of a committee of three to
examine the road and report as to its
condition. In accordance with this
suggestion the following resolutions
were introduced and adopted:
“Whereas, from the report of Gen. E.
P. Alexander, president of the Savan
nah, Griffin and North Alabama Rail
road, we are informed that the Central
Railroad Company is proceeding to fore-
■ lose its mortgage, which suit serious
ly threatens the prosperity of this road,
therefore, be it
“Resolved, That a committee of five
be appointed, consisting of W. Mb Fitts,
[T B. Wilkinson. N. B. Drewry, S.
Grantland and A. J. White, whose duty
it shall be to make investigations and
report what, in their judgment, is the
best course for the stockholders to pur
sue iu the matter.
“Resolved, That said committee re-
port by printed circular, which shall be
mailed to each stockholder within forty
days from this date.
An amendment was adopted author
izing the committee to call an extra
meeting of the stockholders if it should
be deemed necessary.
The following officers were elected
for the ensuing year:
President—E. P. Alexander.
.Directors—J. D. Stewart, U. B. Wil
kinson, A. I>. Freeman, AY. AV. Merrill,
J. U. Horne, H. J. Sargent, A. Hutche
son and AV. W. Fitts.
There being no further business, the
convention then adjourned,
Hon. Peter F. Smith on the Tariff.
We produce on our first page this
week an article recently contributed to
the Atlanta ('unstHution by our dis
tinguished fellow-townsman, Hon. 1 e-
u>r F. Smith, <>n the much-vexed ques
tion <>i tariff reform; and while it i>
somewhat lengthy, it is so eminently
worthy of reproduction that we feel
sure our readers will not begrudge the
space we have allotted for this purpose.
It is a clear and most lucid exposition
of the fallacy of protection, as advo
cated by the monopolists and their
blind followers, and is an equally com
prehensive recapitulation of the opera
tions of our present outrageous
tariff system. lie shows plainly (aud
sustains the point with argument as
ingenious as it is conclusive,) that the
tariff imposition which the American
people have suffered for more than a
quarter of a century was the outcome
of a crisis in the Government s financial
affairs such as may never occur again in
the history of the count y, and could
have been justified under no other cir
cumstances. That crisis having passed,
and the conditions that brought it
about no longer existing, every dollar
extorted from the people above and be
yond the absolute needs of Govern
ment is robbery, pure and simple. The
present high tariff is the robber, and
for twenty years the people have been
its victims. It must be modified. The
Government has no more right to the
immense surplus that annually accu
mulates in the public treasury than
has the Queen of England. It belongs
to the people, and can be secured to
them in no more satisfactory way than
by reducing the tariff on such artic les
of necessity as are now dutiable under
the law.
This is the sort of reform that, is de
manded by the Democratic party and
by t In 1 people. Mr. Smith’s'.letterproves
that he is in harmony with both.
After reading the speech delivered
by Gen. Henry R. Jackson at Macon
last week we regret more than ever
that the distinguished Georgian did
not get his consent to remain in Mexi
co a year or so longer. lie could not
have selected a more inopportune oc
casion for the public utterances at
tributed to him, viewed from a pacific
standpoint, nor was the indiscretion in
any degree atoned or justified by the
occasion.
Governor Gordon has been giving
aid and comfort to the Democratic
cause in Ohio by a series of remarkably
fine campaign speeches the past week,
and the fact that he was enthusiasti
cally received at every point visited is
the best evidence we have yet had from
John Sherman’s country that the war
is really over.
Tiie action of the State Courts in the
cases of the condemned Chicago anar
chists has been approved by the Su
preme Court of the United States, and
unless Governor Oglesby interposes his
executive clemency the miseiabl *
wretches will surely be hanged.
Commencing next Monday, the Su
preme Court will hear argument only
three days in the weeks, viz: Monday,
Wednesday and Friday. The rest of
the time will be devoted to the study
of cases and preparation of opinions.
Congressman Thus. AY. Grimes
left for New York this week, where he
will remain until the 25th inst. He
will go thence to AA'asliington to take
his seat in the fiftieth Congress, which
convenes in December.
1)r. H. H. Tucker, for many years
editor of the Christian Index, has re
signed that position. His successor has
not vet been announced.
Cooksville.
Hr. Editor:—The frequent rains have
thrown our farmers somewhat behind
with their gathering.
The Farmers’ Alliance Club which
was organized some time ago at this
place is growing rapidly in member
ship, and will doubtless accomplish a
great deal of good among the laboring
classes. AYe say hurrah for the wool hat
boys. It is time they were getting on
the top rail.
AYe are pained to chronicle the sad
death of Airs. T. II. Frederick, which
occurred on Friday, the 28tli inst. Mrs.
F. was a most estimable lady and be
loved by all who knew her. She was a
consistent member of tjie Baptist
church, and in dying she signified a
willingness for death by saying she was
ready to go. Her remains were interr
ed at Bethel church last Saturday af
ternoon at 2 o’clock, Rev. R. H. Jack-
son preaching her funeral. To the be
reaved husband we would *ay, God do-
eth all things for the best; strive the
harder to meet your wife in heaven.
Grieve not. dear children;
Though mother has gone,
dlie is happy above
In her heavenly home.
Angels have welcomed her
In heaven above,
With Christ oar Saviour,
A God of love.
Strive to meet her;
Weep no more;
She is waiting to greet you
On that heavenly shore.
Oct. 3lst. Calamity Jim.
LARGE STOCK IN,
AND
NEW GOODS ARRIVING CONSTANTLY
150 BARRELS FLOUR, NEW CROP,
Just received, direct from the mills—all made from wheat of
this year’s crop. We have all the different grades. Buy from
us and save wholesale grocers’ ; profit. We get it at the mills,
and upon precisely the same terms that the Atlanta merchants
do. Get our prices and then try a sample of our Flour. “Proof
of the pudding is chewing the bag.”
PRICES LOW, AND GOING LOWER!
The best time to buy goods is when you have an opportuni
ty to get them cheap, and the only 'safe assurance that you
are getting them cheap is when you buy from those who deal
exclusively with manufacturers. We deal only with the lar
gest manufacturers, importers and jobbers, and possess ad
vantages that can only be appreciated by those who take the
trouble to compare our prices with the prices charged by oth
er dealers. We say this in no spirit of boastfulness, but sim
ply to let the people know that we have firms in Newnan
that enjoy precisely the same facilities for buying that the
Atlanta merchants do, and the fact that our expenses are
from twenty to thirty per cent, less is too apparent to require
mention here.
In addition to a heavy line of GROCERIES, we have
now in store a choice stock of DRV GOODS, CLO TH
ING, BOOTS, SHOES, etc., including everything kept in a
strictly first-class establishment. Our “Bay State Shoe” con
tinues to lead the town, in style, finish and general superiori
ty. Our stock of Clothing is complete and handsome, and
comprises all the late styles, figures and shades.
In fact, we have everything, and are determined not to be
undersold. Suppose you come and see for yourselves. We
should be glad to have you call around anyway, even if you
do not wish to buy. Seats free; no charge for looking.
BUY OUR $3 MEN’S CALF SHOE!
It is the best Shoe you can get, and does the service of n
five-dollar article. Manufacturers’ guarantee with every pair
sold.
HARDAWAY & HUNTER.
Many diseases date their origin to
functional disturbance of the stomach
and liver. Laxador corrects these ab
normal conditions most surely; hence
the increasing sale. Price 25 cents.
Parents will get rest and the baby
will be relieved from pain by usiug Dr.
Bull’s Baby Syrup, a harmless but re
liable remedy. Price 25 cents.
Ctnnouncements.
THE PLACE TO GET THE MOST GOODS
FOR
THE LEAST MONEY
IS AT
J. R. HERRINGS!
I lay down the broad proposition that I can sell, and am
actualIy selling, goods cheaper than any house in town, and
am prepared to sustain this [imposition with irrefragable proof.
Observe the following, as a starter—
Will sell all-wool Jeans for 30c. per yard.
'Ten cc’nls is all I ask for the best Dress Gingham.
Dress Checks at 7 1-2 cents.
There is no such bargain in town as my 50c. reinforced lin
en bosom Shirt.
My slock of Gent’s Furnishing Goods can’t be heat, either
for style or selectness.
CLOTHING.
I am somewhat overstocked on Clothing and am determin
ed to unload. Am now selling good, stylish suits 15 per cent,
lower than any house in Town. It looks ruinous, but time
Hies, and I don’t propose to let the season fly away and leave
me with pilek and piles of winter clothing on hand. Not if I
can help it. Overcoats are going the same way.
SHOES.
I have the best assortment of Mens , Ladies and Children s
Shoes in town, both in fine and low grades. Even tiling
down. Will sell a tip Lop Shoe for $2.50 liiuL has never sold
for less than $2.75 heielolorc. A splendid Brogan Shoe
for $1.15. Every pair of Frank D. Wcvldman’s line Shoes
sold upon an absolute guarantee.
An attractive assortment of Hats, all shapes, shades, sizes
and prices.
I have the goods and are bound to sell them. Don t forget
this when you make up your mind to buy. It means a gieat
deal.
GROCERIES.
Am selling Flour lo)ver than anybody. Tor the present I
can quote different grades as follows: Good, $4-5° P cr ^ar-
rel; Fine, $5.00; Better,.$5.50; Best, $6.00. In fact, I have
everything in the Grocery line, and am selling at rock bot
tom prices.
I am not trying to excite your curiosity, merely; am anx
ious to do vou good.
He that potuk cih these; facts will surely be profited. 1 ry
YVorth of MENS’ AND BOYS’ CLOTHING just received
for the Fall and Winter trade, comprising the largest and most
carefully selected stock of Ready-Made Clothing in this mar
ket, which we propose to sell at prices that cannot be duplica
ted this side of Atlanta. We’ve got ’em—all sizes, qualities,
and styles—and they must be sold.
100 BOXES TOBACCO
Were bought by us just a short while before the recent ad
vance, by which we can save to our customers from 15 to 30
per cent., on this lot alone. It is a prime lot of Tobacco, and
would be a bargain even at the prices that now rule.
CAR-LOAD BAGGING AND TIES
Received this week, and more on the road. Best grades of
both constantly in stock during the season.
ARNALL & FARMER. .
ARMED AND EQUIPPED
FOR THE
FALL AND WINTER TRADE!
BONEHILL.
j'r
Breech-loading Shot-guns of
the best English, German and
American manufacture, at pri
ces ranging in price from $10
to $35.
Muzzle-loading Guns, for
men and boys, from $2 50 to
$10.
Winchester Repeating and other
Sporting Rifles.
Ammunition of all kinds. Loaded
Shells, Powder, Shot, Caps, and hunt
ing equipments.
The finest and largest assortment of
Cutlery ever seen in Newnan. Pocket
Knives, over 150 patterns and styles.
Table Knives, plain steel and silver-
plated. Razors, Scissors, Spoons, in
all styles and prices.
Our stock embraces everything usu
ally found in a General Hardware
Store—agricultural /implements, carri
age material, belting, grates, hollow-
ware, and house furnishing goods.
Tin-ware of home manufacture—
“Simril brand”—at wholesale and re
tail. Job work in tin and sheet-iron
done at short notice.
Large, commodious store-room west
side of Public Square.
Good goods at reasonable prices, and satisfaction guaran
teed. Come to see us. It will pay you to buy goods of us
first, last and all the time.
T. E. FELL & CO.
•JOHN' W. HUGHES.
FRED B. LATY.
FOR MAYOR.
I liorebv aniiouiu-e invcandidacy for the of-
fleo of Mayor of the -ity oi Newnan. Elec
tion second Saturday in December, 1SS7.
Uesj. er i\. ■■■
J. S. I'". KLU
me.
J. R. HERRING.
HUGHES & LAW,
HATTERS
AND
Si-It
c-11
W.
L. 71. C 1.
GENTS’ FURNISHERS!
VALISES, UMBRELLAS, E1C.
; PEACHTREE STREET, - - - ATLANTA, GA-
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