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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- *» t* * t