Newspaper Page Text
KJEPOBT i
or m mnrtwicK oomorru, oh ths con
dition ot thi bbvnswick to ruatot *.
a. 00, lisi to not rioPLx of •oothenn
OXOBOU IT KUXTOWH, OCT M IW7
Brunswick,*©*-. Oct. 5,1867.
To the citizen* af Brunswick and Southern
The Undersigned, appointed a Committee
by a public meeting Ueld in this city on. the
28th of July, 1867, to proceed to New York,
for the purpose of ascertaining the state of
affair* of the Brunswick St Florida Railroad
Company, and its plans of fhtere operations,
with instructions to report the result of their
mission t the peopTe oF Souther* Georgia, at
a meeting to be held at Troupvill* on the
20th of August r 857. beg leave to
’ HKPOBT,
That they proceeded itntnedlstely to New
York and upon their arrival there on the 7th
of August last, were received by the gentle
men interested in the Brunswick St Flori
da Rrilroad and in the prosperity of Bruns
wick, in a manner highly gratifying to your
committee. .. .
Your Committee found that our friends
in New York had been for some time, engag
ed in matnring plans for the reorganization
of the Railroad company, and in placing it
in a better condition to prosecute the’ work.
After several days consultation with the
members of the board,a meeting of the same
was called at Albany, and on the 13th. of
August, the board met, when the following
proceedings took place:—
Mr. Harris from the committee appoint
ed by the citizens of Brunswick to confer
with the BoauLon matters Df general inter
est to the Compsuy, presented tbo following
letter.
Nkw York, August llth, 1867.
Mr. Henry S. Wellei Prcsnt , B. If F. Rail
road Company, , ‘-**•
‘Dkab Sir, — At a meeting of the citizens
•f Brunswick, Georgia, held on the 28tli day
of July, wo were appointed s committee to
proceed to this city, to ask of you an exhib
it of the state of affairs of your company,
and ascertafu your ability to proceed further
with the road and your plan of future opera
tions. We beg leave to acknowledge receipt
of the exhibit which you have been kind
enough to furnish us, nnd in furtherance ot
sur duties, we respectfully solicit auswers to
the following question :
Ist. Have yon the ability to furnish the
iron to Big Creek 1
2nd. If so, how soon do you expect to
hart the track laid 1
3rd. If you cannot furnish the iron imme
diately, how long do you expect tho road to
remain in its present condition ?
4th. What provision do you propose to
make for the payment of tho (louring debt l
C. 1. HARRIS. )
JL HAZJ.KHURST, } Committee.
C< W. STYLES. )
The Board instructed the Secretary to an
swer the said interrogatories as follows:
Albany, Nkw York, Au£. 13. 1857.
Messrs. C. M. Harris, li. Hnzlchurst, C.
W. Btyles. Committee,
Dear Sirs, Your favor of (lie llth inst,
submitting certain interrogatories to the Pres
ident of this company, was received. I have
this day laid it before the lioart of Directors,
who instruct mo to make tho following reply.
Question Ist. Have you tho ability to fur
nish the iron to Big Creek l
Answer. In the existing circumstances of
the Company, we have not.
Question 2d. If so, how goon do you ex
pect to have the track la’ul l
- x Answer. Tho -second question m answered
in the reply to the first.
Question 3 d. If you cannot furnish the
irou immediately, how long do you expect
the road to remain in its present condition f
Answer. The length of tihio during which
the Road would remain in its present condi
tion, depends upon contingencies
Question 4 th. What provision do you
proposo to make for the payment of the
floating debt 1
Answer. We cannot at this time determ
ine.
I ntn, Pear Sirs
Respectfully, yourob't. Serv't.
HENRY G. WHEELER,
Secretary.
Mr. Harris from tlie Committee being re
ferred to, enquired whether -the exhibit o!
the financial condition of Hie Company , fur
nislieclto them by the President of the Com
pany, ntet the approval of the Board. Af
ter some couversafioa, on motion of Mr. 11.
G. Wheeler, a Committee of Audit was ap
pointed to consist of a memhe+ofethis Board,
a member of the Brunswick Committee,.and
a gentleman representing the parties holding
$ 120,000 of the old stock. Mr. Vihbard on
behalf of the Board, Mr. C. M. Harris on
behalf of the Brunswick Mr.
Charles Day on behalf of the parties repre
senting the 8120,000 of the old stock, were
appointed said Committee with power to calf
in the services of the Chief Engineer, and
of a Book-Keeper, and nisei *rf such other
persons as they might think j%ptier, aml also
with power to the two other inemWis of the
Committee, so designate a substitute for Mr.
Day (representing the same interest) if that
’ gentleman should decline to
Mr. Harris, in the gentlemen
composing the Committee before referred to,
presented the following letter.
. “ Albany, N. Y.. August 13, 1857.’*
To the President and Directors of tkc Bruns
seick i) Florida Railroad: 1
% Gentlemen, The duties of our Committee
having been closed, we the, undersigned de
sire tolay before you, the following sugges
tions,, whieh in our opinion, if caricd out, will
an sure the hearty cooperation of the citizens
of Georgia* in carrying out the enterprise. *
lit. The present Company retiro into]
stock, the $31)0,000 of houds of the Compa
ny-
2d. That so much of the floating £ebt of
the Company at is possible, he converted in
to stock* ana that as to the residue, the best
arrangements which can be made ns to time
be entered into.
3d. That* reorganization of the Compa
ny, be had, giving us k President and three !
Directors inj Georgia—the result of which, !
we believe, will be the procuring of the iron
to Big Cfreek.
• Ycrv respectfully,
x K. HAiLEHI'RST, I
C. M. HARRIS.
The Auditing Commit tee immediately com
menced its labors, and after,an arduous and.
laborious session of over six weeks, .present- j
oti to tb# Romo of Directors fire following
report and exhibit of affairs of the Company.
, REPORT.
New York. Sept, 1L 1857.,
To the President and Directors of the Bruns
wick if Florida Railroad Company :
Gentlemen, The undersigned, comprising
the Auditing Committee, appointed to exam
ine tbc accounts ot your Compauy, beg leave
to
REPORT,
That they have examined the books, re
cords and vnuchorsyfuinisbed them by your
Treasurer and Secretary, and from them it
appears that the Treasurer,Henry 8. Welles,
has, since his connection with the Company,
expended fur construction, materials, iror,
equipment, Sic., with interest thereon, the
sum of 2313,573 21
and, in addition, ho has paid to
Robert Collins, on account of
work and disbursements in Geor
gia, 50 of the Bonds of Jthe
Company,which were taken by
him (Mr. Welles) at par 50,000 00
Thus making the snfti of 8303,573 21
the total amount of the expenditures, with
the interest thereon, made by Mr. Welles for
the Company.
Mr. \Velh>s has received from the Compa
ny during his connection with it, three hun
dred of the Coinpany’s bonds of 81000 each,
with interest at the rate of 7 per cent per
annum ; subjoined to each,coupons for each
instalment of interest that would accrue on
the bond from the first day of the month in
which it was issued, until it matured, bearing
date Jau. Bth, 1856, and with which we
have charged jiiui with par value 130.0,000 00
Os these eoupons wo find due to
the Ist of July, 1857, #31,500,0f !
which,469 coupons,amounting to
$16,415, have been paid accord
i ing to Mr. Welles’ books, but 12
( i of them, amounting to $420,
j were not exhibited to us by him,
i nnd lie is,therefore, charged with
them, the Company being liable, 420 00
He is also charged with cash re
[ ceived from Stephen Clay King
and A. 11. Atkinson 548 52
Also with $20,000, being tin*
amount “of tlie liability of4he
. Company Jo Messrs. Vibbard,
Gray, and Weed, given to them
for the payment of 20 bonds of
SIOOO each, (with 1500 shares J
of city stock attached,) in value
of securities borrowed by him of
them, in the name of tin) Com
* pnny, upon the return of which,
or their value, the Company is li
able, 20,000 00
leaving the balance in his favor
of. : 42.604 69
Thus making thp sum of., ..$363,573 21
an amount equal to the di.-burseincnts made
bv him. The coupons till paid to July Ist,
1857, amount to $15,085.
Your committee beg leave to refer you to
the anuexed account current, marked A, for*
the details of tho above statement, and here
with annex the balance sheet, marked B,
allowing the condition of the affairs of your
Company, ns found by your committee. <
In tho investigation of the stock account,
■ your Committen find that 13,100 shares.of
the capital stock of tho Company were sub
scribed for in 1853, and the certificate book
shows .that 10 per cent was paid thereon.—of
these 12,100 shares, the parties wliosuhscrib
ed, nnd others to whom the ‘Sto'ck was trans
ferred, retain 4055 shares, subject to call on
i assessments, and in consideration oftli6 10
i per cent, paid ttr by -certain- of tlm old stock
j holders, tbpy received 037.4 shares of full
1 paid np stock, which your committee find in
the hands af J. De-P. Ogden, as Trustee,
pledged for the payment of certain debts;
t|ife-balance of the 12,100 shares,(viz. 74074)
Was transferred to H. -S. Weiles under his
agreement to pay the 10 per cent upon it. —
(tut of tills balance Mr. Welles has trans
ferred 298 J shares’(full paid,) which left in
his hands 7 shares.
Os the 10 per cent duo ori the said instal
ments, the Company hayc received from Mr
Welles the before named sum of $12,604 69
paid by him, as appears from the accounts.
The residue of the stock is to be surrender
ed to the Company, _
Your Cominitteo also state, that they find
a further issue of 178 shares,full paid stock,
has been made by Mr. Wellosto contractors,
Under resolutions of £our Board, and upon
estimates of your Engineer; making a total
[issue of 12,278 shares, upon which $151,-
887 50 lias been paid in, as shown by the
stock list, marked C, annexed for your in
spection.
Your Committee further state, that they
find a debt due to the Ocean Bank, in tlie
City of New York, for about $35,000.
Your Committee also learn, that a claim is
made against tlie Company by the firm of
Naylor, Vickers & Cos., under a -contract for
the purchase of iron, made in 1853. As to
the extent of this claim, if any legally ex
ists, there is n wide difference of opinion be
tween the parties. On the part of the Com
pany, it is contended thnt n comparatively
small amount only, if anything at all,, can
be recovered, The claim is now tho subject
of litigation in the Courts of Georgia..
* There are, as your Committee have been
, informed, notes or acceptances of the compa
ny outstanding, to the amount of $12,000.
These notes do not appear on tho books of;
tho Company, nnd were not applied'to its
use. and the Company is not bound to pay j
tltt’HV- ■. • _ . ■■■
- There are also outstanding claims for small i
amounts against tlie Company. , Your Com- j
inittee have not been able to ascertain the ;
precise amounts, but tbo whole will not prob- j
ably exceed $12,000. .. .
BONDS.
In the examination of (he Bond account, j
we find that of the old issue of $1,200,000,
there are in tlie hands of U. S. Welles,Treas
urer, 264 bonds of $100(7 each, and 157 ster
ling bonds of 82500 each—'Bo bonds of SIOOO
each arc by the Ocean Bank ns collat
eral security for its debt—-30 bonds are held
lij Messrs. Vibbard•& G tafaa collateral for
the debt of S2O 000'due tlfem, nrid’onff bond
is held by D. 11. Martin of SIOOO. >
Y'onr Committee are informed by Mr.
Welkrs that tlie rcmaiqd< sr •>? these old mort
fage bonds are in tho of'other parties.
our Committee aro advised, however, that
they wore not so placed or used for the ben
efit of tlie Company, aud that the Company
cannot, in any event, bo made liable for their
paynient. We arqgassureA however;’ and
believe, that they will be returned to the !
Company within si. very abort time (ns also l
the 812,000 of notes before mentioned) aud
will be cancelled.
Respectfully submitted,
(Signed)^’
O. M. MARRIS, ) .
C. VIBBAIID, (
CIIAH. DAY. {committee.. ,
Charles L. Schlatter, Chief Engineer.
a-
BALANCE SHEET OF AUDITING. COMMITTEE
OP THE BRUNSWICK AND FLORIDA RAIL
ROAD COMPANY, SEPTEMBER, 1857.
Cash: .19 48 1
Construction, 538,608 70
Salary,., ..... 16,330 22
Expense,— 11.544 09
Equipment. ; 8,509 35
Insurance, 2,025 56
Discount.. .j. 925
Office Furniture,. .251 83
Interest Account,
Interest, - ‘ $6,736 59
Coupons to July’ 1, *57 31,5U0 00 38,2.36 59
• $615,535 07
C. L. Schlatter , 7,459 22
R. C011in5..... 8,456 59
M. S, Welles .. 42,604 69
Bills Payable \ .. . . 47,375 87
Coupon Account. 15,085 00
Geo. E. Gray 5,000 00
Cbauncey Vibbard... -........ 10,17500
Thurlow Weed 7 5,000 00
Paid in on Capital Stock 151,887 50
Bond Account 300,000 00
Jones !t Hayes ~ -. 10,059 60
Briggs A Howell ............. 4.322 30
R. McDonald St, Cos. ■ ■... . r.. •*. Iv.tti'OO
Pike, Smith A Griffin ‘ ‘'” 2,523 00
Erast us. Corning-A- C 0... ■2,561 26
S. C.-King ...... 500 00
A. 11. Atkinson 50 00
H. G. Wheeler 63K01
Jessee Osmund 500 00
. 1 $615,535 07
Construction Account is ”
Stock retained by - old Company, $121,000 00
Ocean Bank debt, assumed. 40.265 40
Pajd to Robert Collins ; -. -52,4-15 02
“ Forbes,Ogden, Davis, Foote &.
‘Scranton 5,808 0o
Iron furnished by 11. S. Welles. .140,342 02
Equipments, llorses, Carts, St, c as
per Bills .10,241 10
Amount work and disbursements
_in Ga. by R. Collins 140,900 00
Stock to Naylor, Vickers Si-Ca . •. .y.OOOUtT
“ to Ilysinith.Bur-uett.and Gigg
illiat, .... . : .........1,300 00
“ due Western Contractors... 18,245 90
Erastus Corning & Co.,for. Spikes 2,561 26
Jesse Osmund, for Turn Table.*... .500 00
538,608 70
CLAIMS STANDING OPEN FOR ADJI.STMKNT —
Thomas Boston—C. F. Welles,salary—H.
IS. Welles, salary—Bhrtehford, ’ 8750 00—
I Hosford. 8.300 OQ—Commissioners for asscs
ing rigid of way —A. G. Jewett—l'. T.
Long—G. E. Gray —S". ,T. Beals—Brunswick
Committee, expenses—GTlh-tt, Book-Keeper.
New York, Sept. 17th, 1857.
CHARLES. M. HARRIS,
Chairman Auditing Committee.
Your Committee deem it necessary for a
fuller explanation of the balance sheet ofjthc
auditing Coin’tee, to show in as concise manner
as possible the, character oft! 1 o liabilities,
i and the manner in which they have been Ht
are to be disposed of. 15
The committee before referred to, compos-,
ed of the President aipl Mr. G. E. Gray,
will settle with Messrs. Schlatter, Collins,
Corning St Cos", (.)moml, Wheeler, Stc., as
also the outstanding claims as shown in the
balance sheet and referred to in the Auditing
Committee’s report, as probably not exceed
ing 812,000. 7.
Bills Payable, including theDcenn JBank
debt, (ivhtc.li Iras already been arranged,) will
also be settled by said'Committee.
Mr. 11. B. Welles has been - paid in stock
842,004 09. ‘Phe coupons unpaid and due
will be paid in stock 81 •'3,085, as also the
amount due to Messrs. Vihbard, Gray and
Weed. *
Bond account, converted into stock, $300,-
000—Messrs. Jones St liases, Briggs & How
ell, R. McDonald Sc Cos., Pike,Smith Sc Grif
fin, StC. King, and A. 11. Atkinson, paya
ble in stock notes and stock.
[We oinit-the+mg extract from the minutes of
the Board of Directors, shewing only the election of
Mr. H. G- Wheeler as Rresiilent in place of H. S.
Wcllos, and of .Messrs. Stephen Clay King and A
It. Wrightof Georgia, ami J. Milbank of New York
:is Directors, in place of Messrs. C. F. Welles, Jr.,
11. S. Welles nrfii Mr. Beals, and of Mr, C. M. Har
ris of Bruusiviek ’ as Secretary and. Treasurer. —
Kus. REPORTER.]
Your Committee further stale that on the
-23d Sept., after the reorganization of the
Company, oil the .7th Sept., that the $656,-
0.00 of Bonds reported by the Auditing Coin,
mitteo to have been found in the hands of
Mr. H, S. Welles, were turned over to Mr.
t). M, Harris,” Treasurer, and that in pay- :
inrjiil to Mr. Ij. S. Welles, of the 842,604,- j
69, balance clue him, there was issued to.him ,
817,704 69 stock, and to 11. G„ Wheeler, as j
trustee for the. Company, 825,000, to be held j
by liim.Lu pledge for the delivery to tbePponv
pauy of the bonus referred to in the Audit ing
Comiiiitte’s report as* the remainder of the
81,200,000, in the bunds of other parties;
also, 8+2,000 of notes refered to in said re
port, in addition to jyhicli security a
was that day executed to the company by |
Mr. Well es for the delivery ot said bonds
and notes, and that on the day following (the j
24t1,i September)} of these said Bonds, Mr. j
Welles delivered o the treasurer S29J)OoJ
and also $8,0()0 of the sl(ort bonds, or 8300,- |
000 issued, and translered to t’he Company
the stock held in liis name.
Your committee state that they were the’
bearers of a letter from Co}. A. R. Wright, !
addressed to Henry G- Wccler, New York,
and in conclusion of this report, Mg loave to j
lay before you the following reply of Mr
‘Weeler, handed to your Committee by Col.
Wright :
Office of the BrvnswVck Sc Fi.orida Y ,
Rail Ro.ut Company,No. 4,Wa11-street, >
ifNew York, Sept. 21, 1857. )
A. R - Wrioht, Esq., MyPenr Sir,—
It has been mntter of regret to me, not less
tjian it must have been to that, I
havff been so long prevented,by circumstance*
beyond my control, from replying to the com
municHtioiJLynu addrfgsed to me on the 4th
of August. This delay, ijnfortunate as at ■
first sight it appeared to he, has not been un
productive of good. It has afforded ns longer
time and calmer opportuitiw to look •* the,
features of <be Brunswick A Florida Rail
Road Company, as .they actually exist; to
survey our ground ; to calculate our resources;
and to plant ourselves more firmly on that
new basis of action from wliifih, I trust, we
shall not be lightly removed. *
The complications by which your Commit-’
tee have been surrounded in tlieir investiga
tions here, have at length been surmounted.
To theirpatient toil and unremitting applica
tion to the duties of tlieir mission, much of
the success which lias attended it is to be at
tributed. And 1 am happy to bear my
feeble te timony, as I s'ncerely do, to their
zeal auil devotion in the cause which brought
them to this icity.
Yon will scarcely look for any elaborate
communication from int\ I have but little
ito say, and that little must be direct to the
; point.
Asa No'thrrn Company, the Brunswick
& Florida Rail R iiftii has ceased to exist 1 .
By means of the confidence,whichmy friends
! havebeen pleased to repose, in me, and fol
t lowing the dicta!e.s of tnyown judgement,
i have been enabled to mfeet the moderate!
: wishes and expectations shadowed forth in .
your letter, in a spirit of tiroad and liberal!
concession far beyond anything which*you
bad asked, or, asitseems, desired. A thorough
re-organization of the Company lias taken
| place. A majority’of the Board of Directors will
be among you in Georgia. The Meetings of I
the Board will be held in Brunswick. Every
j dollar of money collected amgng yon, will
|be received and disbursed by yourselves.
[The same steamer which conveys this letter
! will convey to Georgia the records, transfer
books, books of account, and papcrs_ of this
rCompany—every tiling, in short, winch gives
|it vitality as a corporate existence. I have
instructed the Treasurer and Secretary, C. M
j Haris, Esq., to make flie requisite arrange
ments in. Brunswick for the accommodation
lof t lie business of Company,its AgentS'afid Of
ficers—including my unworthy self, elected
by no act or desire of my own, to the Exe- !
j cutvc office. You may assure yourself that
i —God willing —no blades of grass will
i grow beneath my feet, until the cause in
which I have labored so disinterestedly, and
against so many staggering obstacles, lias
[been vindicated and sustained:
The financial cqnditi\i of the Company
j will be found scarcely iWi suggestive of hi pe
| confidence and success. will
| report to you in detail. Trim short Bonds, or
[obligations, of the issue of January, 1856,
j (know n as-ihe $300,000 issue,) cease to be a
riien on the Road—the parties agreeing, (its.
! you will see by the enclosed paper marked A)
to convert them into the general stock of the
| Company. The old Mortage Bonds, issued
: under an order of the stockholders in gen
| eral meeting, nnd bearing date September
, 1 852-, will be cancelled. The floating debt
|is satisfactorily arranged ; and the. sfock
lately in the hands of Mr. H. S. Welles—
j over and above the amount be lias paid upon
; it, and over and above the, amount requir
; e.d for the conversion of the $300,000 issue
■ of Bbnds—becomes the property of the Com
pany. The iron to lay’ the track to Big Creek
i will be. sent out at the earliest moment at
j which the terms of Dtircliase Can be arrang
ed, and a better equipment w ill be placed on
| the: Road. You are thus presented with a
I Company having no bonded debt, free from
! embarrassment,and ready for the must prompt
and energetic operations.
And now my dear Sir, w hat more, can 1
say l 1 need not'call upon you to be tip
land doing, in a cause to which yoiTTiave seen
fit to pledge s') deeply your personal honor
: ijuid your public reputation.” I should regard all
such suggestions by me as Intrn-ive. You have
[rang *vtF yoil rs e 11’ mi de r the banner of Bruns
wick. llrunswirlc for herself \ and not for
another. In that sign, w’e shall conqJipr —
and conquer because wc arc right.” The
■ struggle may be * sharp, but the victory is
j sure. Audit is never to be forgotten, that
the value of all victories, to honorable minds,
| is in exact proportion to .the goodness of Mie
cause in ,wliicli they have labored, and the
| extent of the sacrifices they have made ,to
! sustain it.
I am very respectfully,
your obedient servant,
ILiG. WHEJSLER, -
President B. A F. 11, R. Cos.
Respectlv submitted,
C. M‘ HARRIS. )
R. HAZI.EHURST, > Committee.
C. W. STYLES, ) J
STRUCK B 7 XtGHTHXTro AHD RESTORED BY THE
U3E OF WATER.
i . .
r •
-On Friday, the 2Stli ulf., four or five
slaves belonging to Cel. Angus McAllister,
were prostrated by lightning in his gin-house, ;
i situated about a mile from his dwelfiiig.—*
[None were seriously injured except a girl
named, Plicebe, who was insensible and sup
posed to be dead. Upon information being I
brought to Col. McAlister, lie directed the
immediate free application of cold water;
the girl,senseless aud to all appearance dead,
was placed in a stream near by, and water
poured on her from buckets, when in a few,!
minutes her breathing and pulse returned,
and shcjvas removed to the house in a fair
way for recovery. Let every person remem
ber that there is always hope in such cases, j
if water can be obtained, and do not cease
the application until atiimatiorrhas been sus
pended from two to three hours. Death may .
-occur instantly lEotfi a stroke of lightning,
but in a large number of cases animation is
niccely suspend,ed and may bo restored. —
Abbeville { AIa.J Advertiser. - ~
v. “ V. ; •
PARSON BROWNLOW.
Parson Browulow, having proposed to de-[
bate the question of slavery at the North,
Greely, of the Tribune, suggested that Fred 1
Douglas, black’man, should mept him in dis- \
cussion. To this the Rev. Mp Browiilow |
responds: “If Dongla^*was to attempt lo
reply to me in public, 1 would serve him as
Rust drd Greply, for bis insolence—l would
wear him out on tiro pavpment with a big
stick.”
PHILOSOPHY OF WETTING BRICKS BEFORE
t LAYING W WALL.
Lime mortar only acts as bound with brick
by adhesion, the vehicle being the water ‘or
moisturfi in the tnoftar. Dry, porous bricks
at once (abstract the moisture from mortar,
and it soon evaporates, and thus the binding
material between the two is removed.—-Scien
tific American.
JVboever is lionet, generous, courteous
and candid is a gentlemen, whether be be
learned or unlearned, rich or poor.
CJjt Mirt-fes sepodrr.
THOMASVIIjLE :
/////*• , .— -
Tuesday, October 20, 1857. ,
Dr. W. 11. IIALI,,
GIVES notice to his friends, that his arrange
ments are such, thnt his connection with the Wire-
Grass Reporter will in no wise interfere with the
duties of his profession. j
BRUNSWICK So FLORIDA RAILROAD.
We devote mneh of our space this week
to the Report rtf the Committee from Bruns
wick on the condition of the Brunswick &.
Florida Railroad Company. We trust that
our readers in Southern Georgia will exam
ine this document carefully, and then decide
upon the course they think best to adopt to
wards this Company.
The first point which attracts our Atten
tion in it, is the utter inability of the Compa
ny tq do any tiling, as admitted by the answer
of Mr. Wheeler to the questions of the Com
mittee. They have the Road graded and
the cross-ties furnished to Big Creek, and yet
cannot obtain the iron to lay tliejrack, and
cannot give an opinion as to the length of
time it will so remain, or determine what pro
vision they can make for paying the floating
debt of tli” o'oup gn y The Committee then
suggest, that upon the retiring of the bonds
into stock, arranging the floating debt, and
giving a President, and three Directors t>
[ Georgia., they believe the iron can he procur
ed for die Road to Big Breck. We are not
j informed how this result was to follow such
action, or in what way the iron is to be pro
cured. • At all events it does not seem that
the Company have yet complied fully with
the terriis, lind wo have heard nothing of
any purchase of-iron by any parties. A
portion-©? fire bonds have been converted In
to stock, but there seems, to be $50,000 of
them in the bands of Dr. Collins, and others
, in the hands of other parties, which have not
been, and-we have no assurance that they
have agreed to pursue this course. ‘ Neither
lias any provision been made yet for the float
ing debt of the Company, and, indeed, it
: seems difficult to ascertain its amount. As
to the Georgia Directors, we caiinot see that
the change amounts to much. Messrs. King
and Wright, the new Directors, arc gentle
men of character, jfnd may probably, for the
sake of their character, endeavor to keep
i the affairs of the Company in order as far as
they can, but.this concession does not by any
means give us a Georgia Board. Ibe char
ter authorizes the election of seven Directors,
and tbc Company have'"eight, four of whom
arc pel influent residents of New lurk, three
of them, Georgians, and the fourth, Mr. \\ hee
ler, a New Yorker, but about to remove to
Georgia. Taking Mr. Wheeler ns a Georgi
an, which many will not eonced# him to be,
the Board here cannot control -matters,’ aiul
cannot get along without the consent of at
least one Wall Street Director, and this is far
.from making it iwv a brorgia enterpriser
This change is far ftom satisfactory, and has
given no inc rease of confidence in the Com
pany in ibis section'.
The Committee then go into an investiga
tion of the finances of the Company, which
seems toriiavc been a “ tough job,” requiring
“an arduous and laborious’’ session of six
wefiks,” to make out the meagre statement
furnished, and. we fe;ir it will require a. longer
labor for us to understand it. ,
We had hoped to have seen a list of. the
stockholders in the Company, so as to have
seen what was the prospect for raising money
by an assessment on the stock, the only legi
* -e # #
tiniate course for so doing ; but in this we
have bi*en “disappointed. It is stated that
12,100 shares of the stock were subscribed
“for in 1853, and Certificate book she ws
that 10 percent was paid.thereon—but we
do not know when, how, or by whom. We
wish the Committee had inquired a little far
ther and given us the facts fully in reference
to this, as we have strong reasons to belie ve
that this certificate book docs not tell the
truth.
It seems, too. tjha.t there are notes of the
Corfipany outstanding to the amount of
$12,000, which do not appear on the books,
and which were not applied to the use of the
Company. -They do not tell us to whose use
they were applied, or how'such a false issue
came to be made, and from tlieir statement
„tliis looks very much like “ Sclitiylerism ” ori
a small scale. It seems, too, that ot the old
issue of. Sterling bonds there, are over $400,-
000, in the hands of othe.r parties, ‘ which,
however,were’not so placed for tlie use of the
Company.” Truly a nico little stun some
body lias been using for bis own benefit, and
we wish the Committee had told us who it
was. They pass the ffiatter over very mildly
but if this were really a “ Georgia Compa
ny,” such a statement would probably raiso
something of a row. Our. wire-grass people
would think this looked very much like steal
ing. on[a good large scale, but we suppose
such a word is not used on Wall Street. Our
Georgia Legislature lias been simple enough
to make such appropriations of other people’*
fpnds a Penitentiary offence, and it is fortun
ate for somebody that this tiling wns not done
In our -old fashioned State. They ‘arc “ assur
ed, however, that Hiese bonds and notes will
be returned to the Company in a very short
time,” and we strppo&B it is light to rely upon
promises of those who have taken them,
bttt somehow their pledges do not go down
well in the “ wire-grass.”
In the article, of “ cash,” the Company
•hew a balance in band of 819.48. This is
a promising sum to begin with, to pay off old
debts and buy iron. But we cannot now go
farther into the details of the and
deem it entirely unnecessary. The whole
document shews the utter inability of the
Company, to pay any of its existing indebt
edness, and no prospect of money or credit
with which to move a step with their work.
Under such circumstances, it strikes ut as
very strange, that they should continue to re
fuse the bcuefit of the StateTaid, when there
is no hope of aid elsewhere. This is the on
ly hope for Brunswick or its Railroad, and
that is fast passing away. If it bo not done,
the prospects of Brunswick, arc indeed gloo
my. The Savannah Road will soon be so
far advanced-as to carry all the cotton away
from Brunswick, aud leave not enough bui
ness tor the Btunswick Road to pay the ex
penses of running it. The refusal of the
Company, backed as it is Supposed to be by
the influence of the people of Brunswick,
will create a feeling that will go far to prevent
aid to the Macou nnd Brunswick Road, if, in
deed, the present crisis in money matter* ha*
not aheady settled that question. The U. S.
Government will find it useless to carry on
their Naval Depot, if they can have no con
nection with the interior, and thus Brunswick
will be thrown back to disposition she occu
pied ten years ago, We should regret this
deeply. We should he rejoiced to see her
beaiftjful lots covered with fine buildings, and
her bay filled with sails and steamers, buLour
only bnpe of this is in the Atlantic St Gulf
Railroad, and if the present opportunity be
allowed to pass, we fear it is gone forever.
A heavy responsibility must rest some
where, for depriving the people of Southern
Georgia of the liberal grant of a million of *
dollars by tbc Stato, and a strict.account will
1 be required of all who have had any part ip
j this refusal. H r are made the victim*--f\
j the dissensions and differences between Sa
vannah and Brunswick: and but f<m Wf
could have had a Railroad to this place now,
while tlieir disagreement renders it doubtful
I if we ever obtain one. ,We have reason to
] believe that another opportunity will be of
fered for a settlement on fair terms ta all par
ties, and the party refusing them will deserva
and receive the execrations of a justly indig
nant people. We speak not in menace, but
in plain and truthful words, and. we trust we
shall have no need of examining mere fully
hciefter and shewing tipou whom-tbe blame
should rest.
EDITORIAL CORRESPONDENCE
1 r “
Maui in, Oct. 10th, 1857.
Dear Doctor,— Soon after shaking your
friendly hand, I took my scat* in the Stage
and left the goodly town of Thomaiivilla, on
; route for this place. We had six passenger*
aboard, just enough to keep the, coach *tady,
and got along pleasantly to Young’s, where
at ten o'clock l*. JI- wo did justice to a most
| excellent supper. In a few minutes after,
we lighted a cigar, took our. sc at, and under
the guidance of Butterfield resumed, our jour
ncv. The. clouds rolled heavily from the
East, and we were somewhat uneasy about
a storm,'bat the considerate winds after ei
i pending-a fa weighs hud moans among tire
‘tall, stately pines, would lull again to rest.
Bye and bye the drowsy God paid us a
visit, and we were about yielding to his soft
influences, whoa a bump, bump, thump,”
would occur, and away would go our bat nnd
i nap together. Notwithstanding tho eloquent
; eulogy pronounced by Major Joseph Jones
| upon stage ewaidi travelling, -eonfas* that
1 We do tint like it, and if it were not for tho
, sake of ridmg, we would prefer to walk.
There is but one mode of journeying that
Iwe like less, and-that is by sea. If your
j boat should happen to blow up, or sink, th*
water is so soft, and dark, and deep, and even
if there should he any possibility of g£tt ng
to land.,there arc so many chances that
something might catch you by tho leg—l ah
—I prefer tluT stage-coach.
Amid broken “haps, and unfinished dreams,
however, thanks to Butterfield nnd Oliver,
we arrived at Albany about sunrise the nsxt
morning.
We stopped at Byingtons Hotel, perform
ed the usual ablutions, followed the illustri
,ous example of the sixteen Arkansas mea
who on a certain occasion “stepped up and
said they'd take sugar in them,'’ and fait
[ considerably refreshed. After breakfast,
I with some agreeable addition to our compa
ny 1 , we set out by the terminus of the Rail
road. After this, not much is remembered,
far I coiled myself up on a bench and .went
to sleep, which very pleasant arid profitable
“invention” I took tho bonefit of until I
reached this place. Last night I took a good
( oybter supper, and n comfortable night's rest,
which brings mo up to date.
I have not seen, but have heard of an ar
i tide in the Southern Recorder which gives
! an account of Hill and Bartow iu Troupvifle.
and at the same time makes particular men
tion of myself, with many-expressions in r#-
gqrd to the “ ermine” “ official robes” dtc*
Ac. No# who can this be in Lowndes, who
is so exercised in regard to tho “ ermine” and
“judicial robes ?” I wonder if it is not soro*_
little Know-Nothing lawyer who would like
to feel their weight on Ins own shoulder*,
and be for the nonce the peculiar custodian
of tlieir pnrity! Wait a little while, my
friend, and they will be laid aside, and then
you cam take yonr chance both to wear and
to guard them, n
Within much less than fifty years, I knew
a gentleman, who was not only Judge of the
Superior Court and Editor of a political
newspaper, but was also a preacher and po
litical stump-speaker, and yet nobody, evet,
to my knowledge spoke of his descending id-