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About Weekly chronicle & sentinel. (Augusta, Ga.) 1866-1877 | View Entire Issue (Feb. 16, 1870)
e ittonicle & WKBIKSIiT MOKNISh, FEBKIAKY 16. A .tew and Valuable tariciy or Corn. Much attention has been given of late to the improvement and production of new varieties of cotton seed. Indeed this has become a mania with the Southern people, almost as intense and absorbing as the old “Multieaulis” and “Florida Coffee” manias which raged so extensively in the State a few years since. We do not object to this spirit of inquiry, experiment and improvement, but rather think it should be encouraged, although, like most other important matters of investigation and ex periment, it is liable to be carried too far. But it is somewhat strange that all, or nearly all efforts,.of the Southern planter for the last few years to improve his field seeds, have beeu confined to cotton alone. The importance of raising corn and the necessity, for improved early varieties have been entirely overlooked in the great cramble for big cotton crops. If the people of the State -the great agricultural interests—would prosper, they must learn to raise their own provisions. We shall never be prosperous until we learn this first great lesson, which underlies all real prosperity—that the profits of our surplus crops must not be consumed in the pur chase of provisions, which can be made in abundance ht home. It makes no differ ence how large our cotton crop may be, so long as we consume a large proportion of it in the purchase of corn, provisions and fertilizers, we shall not become wealthy. Wc may, and doubtless will, handle a good deal of money, but we shall not %etain it and add it to our capital. New and improved varieties of corn is now the great want of Southern agricultu rists. We waDt a variety hardy, early and prolific—sufficiently hardy to withstand the extremes of our seasons; early enough to mature before the setting in of the excessive hot weather of our midsum mer, and capable of yielding good crops on moderately fertile lands. Our friend, J. C. Itoper, of Kingston, thinks he' has developed such a variety. In another column we lay before oar read ers Mr. Roper’s account of this prolific corn, and the certificates of those leading planters and corn growers, Lewis Tomlin, Mark A. Hardin and George N. Lester. Those of our planting friends who would like to try this corn can procufo it by writing to Mr- Roper, at Kingston. The price is six dollars a peck. Itatbor steep, but worth the money if what is said in its favor be true. Important from Washington. We learn from Washington that on Wednesday the delegation of Conservative Republicans from this Stato were heforo the Senate Judiciary Committee. A ma jority ol the -Committee, it is stated, are in favor of admitting Messrs. Hill and Miller, unless good evidence is given to warrant a different conclusion, and will so report. The proceedings before the Com mittee are encouraging to the friends of Georgia. Three Radical members of the Committee were very heavy on Bullock, charging him with willful deception, and treating his pretensions with oontempt. It is further 'stated that the President and General Sherman are known to he in ac cord with a majority of the Judiciary Com mittee on the question Os the admission of Mcssr*. Hill and Miller. In an interview with the President Wednesday, Gen. Grant expressly denied the false telegrams sent off by Bullock, through the Associated Press, and the statement he had published in the Wash ington papers to the effect that tho Presi dent favored anew election ot Senators by a “purified” Legislature. Bullock lias been manipulating and using the telegraph extensively, and it is pos sible that ho may overreach himself, and convince tho President, as weil as he has convinced the people af Georgia, that he is without character, being thoroughly corrupt and dovoid of all truth and honesty. Commercial Fertilizers-Large Interest. While wc would not disoourage the' free and ‘liberal use by Southern planters of’ commercial fertilizers, we fear there is great danger of a reckless and inconsiderate investment in theso manures, which will Jo groat injury to our planting interests, and in the end lead to a vory general abandonment of these valuable, and, in some rospoets, indispensable aids to South ern agrioulturc. • Iu tho first place, great care should be taken iu the selection of the article to be used. It should not be assumed as true that every article offered to the public, and advertised iu obscure or distant papers, or by the circulation of flaming circulars, filled with real or pretended certificates from real or pretended planters, is a really valuablo fertilizer. The evidence which •wo recently laid beforo our readers of Professor Willet, who found in some of the fertilizers analyzod by him forty-two per cent, of sand, and the analysis of Professor Johnson, of Yale College, who found as high as fifty three per cent, of sand and insoluble matter in some of the articles submitted to him, shows that much fraud is practiced upon planters by some of the manufacturers of commercial fertilizers. We have also the testimony of a leading chemist in this State —an Inspector of fertilizers under our law—that an artiole much used in this State last year, and heralded with strong certificates ot excel lence, contained over sixty-four per cent, of sand, aud was utterly worthless. These frauds injure the honest, respect able dealers, because whon worthless fer tilizers are used and prove valueless, planters confound tho good with the spu rious, and condemn at once all commercial fertilizers. The truth is, that most of the fertilizers offered in the market are What they purport to be, r 1 plant food, com bined in such a way as to furnish all the elements required for the vigorous growth of*plants,' and so concentrated as to bear the expetjse of water and land carriage, and then repay a fair profit for their use. The great demand which has sprung up in the South during the last three years for highly concentrated commercial fer tilizers, has induced a sei of persons to embark in their manufacture whose sole object seems to be to take advantage of the reputation established by older dealers, and throw into the market a large quan tity of worthless stuff, under high-sound ing names, and secure a large traffic and tremendous profits from their sales to credulous planters. The law now in force in relation to the inspection of Commercial Fertilizers, we have shown in a previous article to be entirely inadequate to meet the wants and requirements of the planter. In the ab sence of proper legislation on this subject, we can only repeat the advice given on a former occasion. There arc dealers and manufacturers in our midst whose charac ter as hones., reliable business men are known to planters. These gentlemen, to a certain extent, pledge their word as busi ness men, that the article they offer is what it purports to be. Our planting friends would, we think, be safe in making their purchases trom them. Nearly, it not qyitc all, of the responsible Augusta dealers, and some ot the best and leading dealers in Savannah and Charleston adver tise in this paper. A reference to our advertising columns will show who they are and what they offer. Wo shall not admit an advertisement in our columns of any article which we have reasons to be lieve spurious and valueless. We intend, in this particular, to confine our advertis ing to this class good of Fertilizers alone, and hence wo believe we can safely refer our readers to these for a goo 4 selection. But there is another point to which we desire to direct Planters' attention in con nection with the Commercial Fertilizers. It is the great difference between the cash and credit prices, established by all dealers in these Jrticles. We do not hesitate to say that we do not believe the profits o* cotton planting, as now conducted, wi ] authorize or justify planters in paying from twenty to thirty per ccni for money to pur pose fertilizer*. And yet hundreds— perhaps thousands—of them paid this rate i the last and will pay it again this year. We venture to assert that not one in a hundred who has paid it or is about to pay it, really knows that they are giving this amount of interest in the purchase of their fertilizers. We know that those who continue the practice cannot make money by planting, unless cotton goes up to 35 or 40 cents a pound. This is hardly probable, and hence planters will do well to exam ine this matter a little. The great bulk of the fertilizers now in the market, raQge in price from fifty to eighty dollars. Dealers make a difference of ten dollar* a ton between the cash and credit prices. Time sales are made payable Ist of November with factor acceptance. The following table shows the rate of inter est paid by the planters on these time safes. We have included the 2j per cent charged for acceptances, though we learn that some factors do not make this charge. It is nevertheless a legitimate charge, and Factors are entitled to remuneration for the risks they assume in thus accommodating the planters. We calculate the interest for nine months, that is to say from Ist Feb uary to Ist November, although thou.-ands of tons are not purchased until Ist of March and the payments fixed at Ist of October. On Fertilizers sold at SSO cash and S6O on credit,the inferest paid by the plan ter is 27 per cent. On those sold at S6O cash and S7O on credit, the in terest is 23.72 “ On those sold at $65 cash and $75 on credit, the in terest is 21.25 “ On those sold at S7O cash and SBO on credit, the in terest is 20.00 “ Land Plaster, which is used very exten sively, and should be even more liberal ap plied to our land, sells in this market at S2O a (on, cash, and $25 on time. The interest paid by time purchasers is 33.72 per cent., including commissions for ac ceptances. The remedy for this evil is simple and within the reach of every planter. No laws are required on the subject—no offi cers to enforce it. Let no planter pur chase more fertilizers than he has the cash to pay for. Adopt this course at once and stick to it. In a very few weeks, or at most months, manufacturers and dealers will be willing to extend liberal credits to consumers, at f»ir and living rates. We urge our planting friends to examine this matter. Let them answer whether it is likely that they can afford to pay such rates of interest and take the chance of unpro pitions seasons, short crops, or low priced cotton. They will have no one to blame but themselves if they blindly rush for ward their orders, knowing the rate of in teresUthey will be compelled to pay. Uullork Exposed. The Washington special to the Chroni cle & Sentinel, gives a more encouraging view of the Georgia situation at Washing ton. ISullock has been detected in his in famous plot to rob and ruin the State, and Lis uulawiul acts and scandalous' pec ulations are in a fair way of being exposed. Senator Edmunds, of Vermont, the author of one of the bills to promote reconstruc tion in' Georgia, denounces Bullock as a liar, and charges him with having misled Congress as to the condition of affairs in Georgia. in at or Cockling, of New York, and Senator Carpenter, of Wisconsin, con curred in the views of Senator Edmunds. When leading Republicans denounce Bul lock for his usurpations and hypocrisy, there is still a reasonable prospeot of the State being rescued from the gang of thieves led on by Bullock and Blodgett. The Supreme Court—Legal Tenders. The decision delivered a few days since by the Supreme Bench, in the case of Hepburn, vs. Griswold, establishes the fact that “a contract for the payiu nt of money “made before thfc legal tender act of the “25th of February, 1862, had reference to “coined money, and could not be dis “ohaiired. unless by eonspm. otherwise “than by the tonder of the sum due in “coin, and that such contract, therefore, “was in legal import a contract for the pay “ment of ooin.” Chief Justice Chase, who delivered the opinion, in discussing the manifest inten tion of the act, said : We do not think ourselves at liberty to say that Congress did not intend to make the notes authorized by it a legal tender in payment of debts contracted before the passage of the act. We are thus brought to the question whether Congress has the power to make notes, issued under its au thority, a legal tender in payment of debts which, when contracted, were made pay able by law in gold and silver coin. The delicacy and importance of this question has not been overstated in the argument. This Court always approached the consid eration of a questiou of this nature reluc tantly, and its constant rule of decision has been, and is, that the acts of Congress must be regarded as constitutional unless clear ly shown to be otherwise. But the Con stitution is the fundamental law of the United States; by it the people have creat ed a Government, defined its powers, pre scribed their limbs,distributed them among the different departments, and directed in general the manner of their exer cise. No department of the Government has any other powers than those delegated to it by the people. All the legislative power granted by the Constitution belongs to Congress, but it has not legislative power which is not thus granted, and the same observation is equally true in its ap plication to the executive and judicial powers granted respectively to the Presi dent and the Courts. All these powers differ in kind but not in source or in limi tation. They all arise from the Constitu tion, and are limited by its terms. It is the function of the judiciary to interpret and apply the law to oases between parties as they arise for judgment. We can only deolarc what the law is, aud enforce by proper process the law thus declared. But in ascertaining tho respective rights of par ties frequently becomes necessary to con sult the Constitution, for there can be no law inconsistent with the fundamental law. No enactment not in pursuance of the au thority conferred by it can create obligations or confer rights, for such is the express de claration ot the Constitution itself, in these words: “This Constitution, and the laws of the United States which shall be made in pursuance thereof, and all treaties made, or which -hall be made, under tho authority of the United States, shall be the supreme law of the land, and thejudges of every State shall be bound thereby, anything in the consti tution or laws of any State 10 the con trary notwithstanding.’ Not every act of Congress then is to be regarded as the su preme law of the land ; nor is it by every act <if Congress that thejudges are boued; this character and this force belongs to such acts as are made in pursuance of the Constitution. When, therefore, a case arises for judicial determination, and the decision depends on the alleged inconsist ency of a legislative provision with the fundamental laws, it is the plain duty of the Court to compare the act with the Constitution, and if the former cannot, upon a fair construction, he reconciled with the latter, to give effect to the Constitution rather than the statute. This seems so plain that is impossible to make it plainer bv arguti: ,it. if it be otherwise, the Con stitution is uot the supreme law. “It will be seen from this,’ ’says the Balti- j moreGTucfte, “that the Supreme Court has taken the opportunity, in this decision, to discuss the powers of Cong: ess, the usurp- 1 ations of whieh, although it does not call thftm b> that name, it evidently looks upon with some uneasiness. In the course of the opinion, Mr. Chase laid particular stress on the fact that the powers of the Government established by the Constitu tion were limited, and that the object of the Constitution was ‘to restrain the lim ited Government from the exercise of ‘powers not clearly delegated or divined by ‘just inference from powers delegated,' and that, where Congress adopted measures prohibited by the Constitution, or ‘under pretext of exercising its powers,’ passed, laws for the accomplishment of objects not entrusted to the Government, it was clearly the painful duty of the Supreme Court to declare that such law was not the law of the land. “The decision itself, important as it is, is rendered vastly more so by the able, sound and independent manner in which it is delivered. It is a decision which makes one feel for a moment that the Con stitution is not a myth, and liberty not a sham. The many points discussed by Chief Justice Chase as to the rights of Con gress to issue paper money, to declare it legal tender for any debts whatever, to resort to it as a war measure, are of second ary importance. There is, however, an other question, incidentally referred to, which is a most import ini one. That is, the rights of States to regulate their owd currency, which Mr. Chase says they have the power to do, “subject as has been ‘lately • determined, to the control ‘of Congress, for the purpose of establish ing and securing a national currency.’ Mr- Chase does not say whether or not sue# control is constitutional, and as he now boldly declares that the issue of green backs, which he himself advocated and fathered, was in some respects, if not in all, dishonest and unconstitutional, there j is do reason that he should not declare his ; own favorite pet National Bank system an outrage upon the Constitution and a fraud | upon the people.” The South Carolina Railroad. We direct the special attention of our readers to the report of the President of j the South Carolina Railroad, printed else- ; where in this morning’s paper. . It will be seen that through the prudent 1 and energetic management of the present officials, the road has been rebuilt since j the war; a large indebtedness of the South- j western Bauk paid off; heavy additions to | the rolling stock made, and the road bed j and fixtures pushed up to a first-class con- i dition. This road was almost entirely destroyed ! by Sherman, and the Company have* been | necessarily involved in heavy expenses in i their efforts to restore it to its former good j condition. This work has been fully and very creditably accomplished, and now the | shareholders will begin to realize the bene- j fits of good dividends so long necessarily withheld to complete the repairs of the road. The President congratulates the stock holders upon the settlement of all the liti gation between their own and the Colum bia & Augusta Road, and the satisfactory adjustment of restrictions upon their freight tariffs, heretofore existing, growing out of previous contracts with the city of Augusta. We are glad to find the President and Directors fully alive to the importance of water connections at Charleston. As soon as arrangements are made there to take freight down to the wharf, without the expense and loss incident to a long dray age, we are confident that the income of the road will be materially increased. All obstructions to and restrictions upon the quick, cheap and safe transit of goods must now be abandoned. The wants of trade and commerce require that these old relics of local prejudices shall be removed and the currents of business allowed to flow in the most direct and easy channels. We congratulate the stockholders upon the fine exhibit made by their officers of the condition of their property, and trust that in the future they will be rewarded with handsome semi-annual dividends. Something New Under the Sun. The latest sensation in Yankoedom is tho estab'ishment io New York of a Bankers and Brokers, business by a few strong minded females. The members of the firm, or at least the female portion of it, are Mrs. Woodhuli and Mrs. Claflin. The firm's naum being Woodliull, Claflin & Cos. It is suspected that Cornelius Vanderbilt is the other partner. The new house was opened on Saturday last, and there was a great rush and jam during the entire day, produced by the crowds who thronged the location to get a glimpse at the new candidates for brokerage fees. The women arc said to be quite hand some, of middle age, and good mauners. Both dress in fine dark blue cloth walking suits, elaborately and heavily trimmed with black silk, and wear Deal jockey hats of the same material. They state that they can, if necessary, control $700,000 for business purposes. These strongminded specimens would do much better to attend the darning of their husband’s socks, and the making of their baby’s bibs than flaunting themselves before the gaze of a curious crowd in a business not altogether of the most re putable character in New York. Bullock Disgruntled. Our special dispatch from Washington gives us rather cheering news in relation to the Georgia question. The Bullock has left the Federal Capitol in supreme dis gust with his Radical friends, who it seems have at last discovered his true character. It was a hard blow to his self-conceit and blustering pomposity to be charged by leading Radicals with practising deceit and double dealing, but when Senator Edmonds penned the ugly but expressive little epithet of wilful liar upon him, even his audaeiiy was checked, and his impertinence thoroughly crushed. Tho Georgia Bullock is sick —he is afflicted with “hollow horns”—let the honest men in the Legislature give them a boring 1 The Comparative Value of Cotton and Wheat as Elements of Wealth. The following table, made.up from the returns of imports and exports for the month of November last, received by the Bureau of Statistics, makestsome start ling developments, and teaches a whole some and valuable lesson, which the people of this city and of the whole coun try will do well to consider : Imports. Exports. New York $19,233,190 $17,695,415 Boston&Charst’n. 3,952,675 998,715 Baltimore 1,528,268 1,459,110 Charleston -... 22,906 2,236,443 Mobile 61,092 2,803,209 Savannah.., 82,932 5,190,028 New Orleans 1,355,648 10,452,177 It will be seen that Savannah, with a population of less than forty thousand, has an export trade more than five times greater than that of Boston and Charles town combined ; more than twice that of Baltimoie and Boston combined; greater than that of Charleston, Baltimore and Boston ; equal to the entire exports of Mobile, Charleston and Baltimore ; one third as great as New York, and over one half of that of New Orleans. Savannah owes -this remarkable and astonishing growth of her export trade to her admirably conducted and extensive railroad communications, with the rich cotton fields of Middle, Western and Southwestern Georgia and Eastern Ala bama. It is the South’s great staple which gives life, activity, value and im poitanoo to the great cotton centres — Savannah and New Orleans. It is the fact that a pound of cotton is worth more than ten pounds of wheat, which puts 8a vannah and New Orleans so far in advance of Baltimore in the amount and value of their export trade. The long lines of railroads leaving the shores of the great lakes, as far East as Dunkirk and Buffalo, on Lake Erie, and reaching as far West as Fond du Lac, the western extremity of Lake Superior, drain ing the great Slates of Ohio, Indiana, Illinois, Michigan, lowa and Wisconsin, and pouring into Baltimore the abundant crops of that fertile and extensive region fails to make her export trade more than one-third in value of that of Savannah, whose railway connections reach scarcely beyond the limits of our own State* The immense tonnage of these cheap 1 ut heavy products of the great West contribute largely to the support of railways, and make their stocks valuable as an invest ment, lut the money value of these pro ducts is trifling as compared to that of cotton. A ton of cotton transported to Savannah over the Central Railroad is worth, in that market, five hundred dol lars. A ton of wheat transported by the Baltimore and Ohio Road and its Western feeders, is worth in the latter city, S4O 66 cents. Baltimore has, for years, been di recting her energies toward the completion of her railway connections with the valley of the Ohio and the waters of the gfeat lakes. In the consummation of this great work she has, until recently, lost sight of the more valuable and rich trade which lies within easy distance of her doors, and to secure which no cutting down or tunel ling of high mountains or erecting of cost ly bridges oyer deep and expansive streams is required. A short line of railway from Salem oa the Virginia & Tennessee road to Statesville and thence to Charlotte, or a short line from Lynchburg to Danville weuld open up to her a cotton trade from Southern A irgitda, North and S.uth Caro lina, worth more than twice the whole amount of her great grain trade from the West. But we desire to direct more particularly the attention of Augusta merchants, busi ness men and capitalists to the importance of the lesson taught by these statist ; cal returns. We would like to impress upon them the necessity Qf extending our rail way lines in the direction of the rich cotton fields of Southwest Gatrgia and South eastern Alabama, rather than looking to the waving wheat lands of the West to build up our trade and increase our wealth. One ear load of cotton is worth more — goes farther to enlarge our commerce and enrich our city- than ten cir loads of wheat or corn. The construction of an air-lino railway to Albany and thence ' to the Chattahoo chee, which would net much exceed two hundred miles, would bring to this market annually, one hundred and twenty thou sand bales ot cotton, which now find their way by circuitous and expensive routes to other markets. The value of this cotton at present prices would be over fourteen millions of dollars. To transport one hundred and twenty thousand bales of cotton would require the capacity of four thousand cars. One train carrying twenty cars would deliver this freight a distance of one hundred and seventy milo3 in two days. . It would require at present prices ten million bushels of Wheat to bring in our market fourteen million of dollars. To move this amount of wheat ■'Would require 5,000 cars, or oue'forjrth more than u 'ould be required for the same amount in value of cotton. Augusta needs direct, cheap and short communication with the cotton producing regions of the Southwest. This is our pressing necessity However much we may spend in making connections with the West, we shall, in the end, find ourselves in the same condition with that of Balti more to-day, unless wc strike also for the cotton-fields. Let us be warned in time by the expe rience of Baltimore, and not expend all our energies and capital in struggling for Western trade. Let us look at the magnificent pros pects of Savannah—her crowded wharves —her plethoric warehouses—her well filled stores —her large and increasing trade--her rapidly extending limits, and the endle.s evidences of thrift and 'ortune which meet us on every hand, and learn that these are all the fruits of her trade in cotton, and the results of a wisely con ceived plau of railway communication, energetically aud intelligently carried into execution by the stout hearts and brave wills of her Gordons, her Cuylers, her Screvcna, her Lawtons, and her Wad leys. Cotton is the valuable argosy in which all our hopes of prosperity are freighted. If we would inorease our wealth, and en large our prosperity, we must strike boldly out for the tempting prize which now lies so invitingly before our eyes, in South western Georgia. Death of an Old Citizen. Hon. William Stroud, an old and highly respectable citizen, died at his residence in Clark county on the 10th instant- Mr. Stroud was for many years a member of the Legislature, and in his day was an in fluential and distinguished member of his party. He was an old line Wh ; g—an ar dent admirer of Henry. Clay, and devoted to the principles of the Whig party. His brother, Orion Stroud, was a warm Demo crat, and represented an adjoining county. Those were the good old days of the past, when honest men differed upon questions of expediency, but when all were patriots, faithfully and earnestly seeking to promote the best welfare of the State. A daughter of the subject of this sketch is, we believe, the wife of Judge Peter E. Love, cf Thomasville, and, if we are not mistaken, the Rev. Atticus G. Haygood, married a'so one of his daughters. A good man has fallen —peace to his ashes 1 The Southern Publishing Company. We are gratified to learn that Mr. J. C. Derby, the eminent New York publisher, is the general manager of the above Com pany, aud that in this city will be located the principal office of the concern. Mr. Derby’s success as a leading pub lisher in New York for many years, is well known to the Southern people. Just after the close of the war he purchased a farm near Aiken, where he has been spending his winters for two or three years, and has become so much pleased with the South that he has determined to locate perma nently here and transfer his great pub-, listing interests to this city. The Southern Publishing Compauy will confine their business to the publication and sale of books by subscription alone. None of these books can be found in the book stores- They will be distributed by canvassing agents throughout the States of Georgia, South Carolina and Florida, and when no agents are employed orders for books will be received and filled from the principal office here. Mr. Derby will issue nothing but stand ard works —those of real Value to the public —and wc doubt not will receive liberal en couragement from our people i.n his new enterprise- The establishment of such an extensive and wealthy publishing house in our city will contribute very much to our trade and prosperity, „nd we warmly wel come Mr..Derby and his associates, and trust that their highost anticipations may be fully realized. Disgraceful. The following letter to the Savannah Republican shows a bad condition of affairs on the bench of the Brunswick Circuit. Judge Sessions is known to be an exceedingly weak and ignorant man, Lut we hoped that he had escaped the views of extreme Radicalism : Brunswick, February 11, 1870. On Tuesday last the Grand Jury ot GlyDn county in their general present ments, read in Court, censured Judge Ses sions for his action in bailing a criminal convicted ot assault with intent to murder, and against whom an indictment was then standing for murder in tbe first degree. The Judge was highly indignant at the time, but dismissed the jury for the balance of the term. Subsequently, in chambers, be ordered a fine of twemy-five dollars against each juror, or twenty-five days in jail, for contempt. The jury have refused to pay the fine, and say they.feel they have done but their duty, and have resolved to go to jail in a body. There being no jail in Brunswick, the Sheriff will bring them to Savannah. They will leave here on Friday, 11th inst., on. the Nick King, ft is rheir intention to sue out a writ of habeas corpus before Schley upon their arrival in Savan nah. A bitter feeling against Judge Sessions prevails extensively among the citizens here. Their trip to the Nick King’s wharf to-day will be a grand ovation. The citi zens will turn out en masse to escort them. The people regard them almost as martyrs. They hoocr them a- bold and fearless in the discharge of their duty, and as men who do their duty if they have to reproach the ermine of the judiciary. They may conclude to pay the fine to day when the,? assemble. I have no idea they wil’, however. Amicus. A Sew and Glided Southern Writer. Chiquita is the nom de plume, of the gifted and accomplished Mrs. Casden, of Maeon, Georgia, who belongs to one of the best families of that city, and who is a lady of great personal charms and of superior social graces. She is quite a young authoress, and for several years her poetic gems have adorned the pages of our popular literature, and have won golden opinions from the lovers of the true, the beautiful and the good■ That she has been endowed with shining talents, and fine poetic sensibilities, none •• can doubt; and it_ is equally evident that time and application must place her among the brightest stars in the Amer ican constellation of female poets. W e believe, if her life is spared, that she is destined to he crowned with the splendid honors of the poet laureate of the Empire State, and perhaps of the whole South. The Mowing poem from her vigorous and polished pen abounds in the beautiful in spirations of poetic genius and pious sen timent, apd is the sure presage of still more brilliantjaurels to be plucked from the peerless hlights of Parnassus : “Glorious JThings are Spoken of Thee, o Cin| of God.”—B7tA Rs iltn, 3 d verse. Respectfully iiscribed to Rev Dr If illis, whose last Ssibath Sermon was from the above Beautful Words. BY CHIQUITA. O blessed Hoiie ! mueh loveth God thy gates— Thy holy moujtaiu paths, where Right eousness And Peace eac» other ever kiss. Mercy And Truth together meet, aud Glory dwells In all thy spotess Land for ever more. In thee the (hurch triumphant lirmly stands A rock immoßtble !—nor ’gainst.it shall The gates of bell prevail, for He hath said His Christ ant He this Kingdom loveth well, And in it The; shall reign for’er aud e'er. Mountains of power and beauty girdle thee! Aye, even as .erusa’em of old. And on thy dtepjouudaiiona planted He The everlasting covenant —and God The Son redeemeth it with His precious blood. And on the palm of His own hand en graved He it. He, tty Defence is, Zion: by His love. Omnipotence and truth. “Fair as the • moon, Clear as the Sun,” to-day thou’rt marching forth, • While glores of the Earth as morning cloud And early dtw swift pass away. Shinest Thou “as Extern gold,” O Zion, city Os our God, vbo, in thy mid’st is mighty, And wiiose promise shall not fail for e’er, O Zion ! tearstlmu oft has had as well As raptures —mffering as well as joy, When sadly by those fountains sat and went To music of the murmuring stream thine own Forsaken on«. Neglected hung their harps Upon the weeping willow trees, and sad And lonely tilt they in a land so strange, Arid in their voe cried, sit we down, vea weep We by these r vers bilter tears when we Remember Zicn, city of our love. . Deep notes of lamentation li.led the air When thy sadciptivechildren shook from off Their slowly dragging feet thy precious dust. Ne’er resting in their toilsome flight and march ’Till in a desert land they laid them down. From hopeless bondage, deepest ruin, He Soon called thee, and in robes of beiuty made Thee, Zion, glorious again—“The Lord Hath chosen thee.” Behold thy house is left No longer, Zion, lone and desolate ! No longer, Zion, lone and desolate Shall thine own glorious House be left ; for thou Hast called upon Him who unsinkiug walked The waves of Galilee—who did’st so rule The raging of the sea that when the waves Thereof did’st rise inanger, He did’st still By His own wondroijs voice their violence. He thou hast called tpon—and He so full Os love, compassion, mercy; grace and truth, Did’st teach his way to thee and glorifled Thy name, till lik« a Bride adorned for him The chosen one, thou stam’est uudefiled, Exalted, free from wrath that once did’st lie And compass thee like deep and weltering waves. How great has been His mercy who hast raised Thee from the deal and given new life to thee. More than the House of Jacob loveth He Thy gates, O Zion—thee and all thy works. Through Him thou hast been faithful, and ’tis He Who guards thee “’gaiust assemblies,” and who loves Thv faithfulness, thy wondrous beauty, strange And fearful, glorious in its strength and light. No need hast thou, O Zion, of the sun ; Nor of the moon to shiue upon thy face; For God’s own glory lightens it—the Lamb, Oholy City, is the light thereof. A day in thy fair Courts, aye one short day Far better is thau thousands here—far best A lowly keeper, Zion, in thy House, Than dwell a King in wickeduess below. High is His right hand over thee, and strong And mighty is His loving arm. His face Is shining over all thy Hills, that once Worn dark witli shadows. Never more shall boughs And branches of thy sacred cedars bend Unto the seas and rivers:—ne’er again Shall all thy hedge be broken, nor thy flowers Bo pluck’d by stranger hands. He who so lov’d And pitied thee hast clave the hardened Rock, Aud thou shalt drink forevermore of sweet Anil sparkling waters. Ne’er again upon Thy mountain’s sacred top shall oonuuer ing troops Sweep iri their pewer. Upon its summit now Glad hearts will over throb to music sweet— And when upon thy valleys’ bosom falls Soft shades of eve—aud on thy gates of pearl litrht dim shadows fondly By thine own rivers come with song*. _„d harps •tvgain thy Virgins fair, whose heating .hearts, Like that deep troubled sea, have felt the storm, And raoio are “stilled,” and feel the storm no more. Macon, January 217th, 1870. Corn—Prolific Corn. I have a species of Corn which I obtain ed from a man in Virginia some two years ago. This man and his Corn have been denounced as humbugs. lam not able to say whether tho seed I obtained is the “Egyptain Corn” or not, but Ido know from having grown it twice, that it is by far the most valuable species of Corn ever planted in this country. lam well satis fied that two crops of this Corn can be produced in the same year in this climate, and I know that on the same land, with the same seasous and culture, it will yield three times as much as any other kind of corn of which I have any knowledge. I have planted it for two years, and have realized large crops, literally without rain. In this exceedingly dry year, if all the far mers of Bartow county had planted this corn, we would have been worth a million of dollars more than we are, and the peo ple would havo rejoiced in abundance of bread. I have some of this Corn for sale, and will dispose of it to those who wish to purchase, at $6 a peck, delivered to the Railroad Acent at Kingston, Ga. This Corn can be grown and gathered in this climate by. the 15th of August, which gives far more ample time to prepare for and sow wheat, or other small grain, on the same land. All orders, to receive at tention, must be accompanied with tho money, prepaid. Ido not wish to sell less than one peck to any one order. Address me at Kingston, Ga. J. C. Roper, Sept 28, 1869. Kingston, Ga. We, the undersigned, cfr'zensof Bartow county, do certify that we visited the plan tation of J. C. Roper about the Ist of August, 1869, and examined bis field planted in the Kind of Corn mentioned and described in his foregoing statement, and said field looked fresh and luxuriant,whilst the fields around and adjacent seemed lit erally burned up with the drought. We are satisfied that Capt. Roper’s statement about the Corn is tiue, and the under signed, Lewis Tumlin, has already secured from him seed to plant a large part of his crop the coming year. We counted tven ty-three ears of corn produced from three grains this dry year. In our tudgment, it is by far the most valuable Corn ever in troduced ioto this county. L. Tumlin, Oartersville, Ga. Mark A. Hardin, Sept. 28, 1869. Kingston, Ga. Capt. J: C. Roper, of Kingston, Ga., gave me a few ears of Corn, which I plant ed on a piece of gray upland. The land was very well prepared, and pretty well manured, and the Corn planted the 7th day of April, 1869. I know that from the time the Corn was waist nigh, until it was well glazed in the grain, there never was a “season” cf rain upon ir, and yet was green and fresh until maturity, and did not seem to suffer from dronrht. The yield was ex traordinary and the Corn attracted the at tention of almost every passer by. I am no farmer, and had of course but a small plat of ground platted in this Corn, but if my judgment is worth anythiog, I can say, that if I had planted this Corn altogether, I would have made, in this dry year, three or four fimes as mich Corn as I did. Geo. N. Lester. STATI ITEMS, The Little Perjurer and a certain or un certain John Rice are on the slate for Georgia Senators. Gen. Grant giv« out that Bullock or soma one else lied about the interview at the White House Tuesday. The Columbus Sun accuses Justice McKay of writing the foul letter read in the United States Senate by Howard, of Michigan, in reference to Georgia. Columbus is to tove another factory and three new churches A German Radical paper —Deutsche Zeitung —has beenstarted in Atlanta. The proprietor will lost money. The little villaje of Rome contains twenty lawyers ant nine whiskey shops. There are, it is said, one hundred and fifty car loads of tirougb and East Ten nessee freights at Dalton. Hon. Peter Chanbers, a member of the House of Represeitatives of the Georgia Legislature, died st his residence in Meri wether county a fez days since. Enoch G. GramViing, Sheriff of Chero kee county, has b*en removed by Terry. John B. Garrison has been appointed in his stead. In a case tried It Columbus, where the consideration was $l7O in Confederate money, the jury give the plaintiff $3 in greenbacks. I F IN A BALLOON. THE ASCENSION OF MR. KING ON YESTERDAY. AN IMMENSE CROWD IN ATTEND ANCE. . THE EXPERIENCE OF AN AERO NAUT DESCRIBED BY HIMSELF. The first balloon ascension in ten years took place in Augusta on Wednesday. For some time past Mr. S. A. King, thewide ly known and successful mronaut, has been endeavoring to raise the wind enough lor an ascension in his mammith balloon, the Hyperion, and, having agitated the finan cial breeze sufficiently, ’ ■’ M 'iday was the time appointed for the exhibition. On that day, however, the weather was so bad that the ascent was postponed until yester day, when it came off, or rather up, ac cording to announcement. The gas pipes were extended from the main on Greene street to the vacant lot in rear of Girar dey’s Opera House, where the ba'loon was to ascend, and the inflation of the vast ma chine commenced yesterday morning. By three o’clock the ballooQ was almost ready for the journey, and a large crowd had as sembled to wituess the spectacle. On the streets outside of the lot th£re was a large number of persons, principally colored, who wore dodging the twenty-five cent man at the gate, while in the enclos ure there were from five hundred to one thousand people of all ages, sexes and colors. The centre of attraction, of course, was that portion of the lot where the Hyperion stood attached to the gas pipe from which it was being filled, and around the silken bag men, women and bays, especially boys, packed closely together, fought, pulled each other about, tread upon toes, and dug with their elbows into neighboring ribs, in their eager desire to see and hear alt that was transpiring. From some cause or other the gas filled the balloon very slowly, and it was a few minutes past four o’clook before the aeronaut announced ready. He had pre viouslysent up a number of comically con structed toy balloons to ascertain the direction in which the wind was blowing, and every one of them took an Easterly ccurse. The small wicker basket . was then attached to the cords, a basket of pro visions, a bottle of Congress water and a of sand bags were placed in the frail car ; the aeronaut took his place ; any quantity of hand shakings were ex changed; the ropes were cast loose and the balloon slowly commenced its ascent amid the yells of the spectators. After it had risen a few feet it was caught by the brisk wind which prevailed yesterday, and its velocity was rapidly accelerated. The balloeu took an Easterly direction, crossed the Savannah river, passed io the neigh borhood of Graniteville, South Carolina, distant twelve miles from this city, and when last seen was still moving towards sun-rise. THE EXPERIENCE OF AN A2RONAUT. For the benefit of our-readers who were afraid to go “up in a balloon” vdth Mr. King on yesterday afternoon, wc an interesting paper from that ceronaut on the subject of ascensions and the phono niena : As your readers may feel some interest in the subject of balloon ascensions, I have taken occasion to jot down a few facts which may, with propriety, come under the heading of this article. Among the first of tLese is to be noticed the total lack of dizziness. One that has never been up can scarcely believe it possible that there should be no unpleasant sen-anon of this kind ; yet such is the case. Os the many who have accompanied me iu my rerial voyages, there is not one but will corrobo rate this statement. Air -ailing,. being free from all suck disagreeable influences, is a positive luxury, a most sublime enjoy ment. When persons expose themselves upon great elevations, vertigo is very apt to affect them more or 'ess, but in the bal loon vat is ( l'-'.ic dltteiont; for, although we may be very high, we are not on top of the ’balloon, but suspended be neath it. Iu addition to this, all objects are seen at a distance, and a single glanc shows uo movement, while to ascertain the direction of our course requires intent watching for some length of time. Thus it will be seen that wc have no objects swimming as it were before us, as expe rienced in rapid travelling on the ground. There is almost always a rotary motion to the balloon, but this is not rapid enough to. be unpleasant, and is caused by any little irregularity in the suspension of the car or adjustment of Ihe net over the balloon, leaving the neck slightly on one side ; the neck of the balloon would thus become a rudder, turning it in one direction while ascending, and the reverse in descending. In tailing over bays, lakes, and rivers, if the water is clear, we can see their bottoms distinctly, even atconsiderable depths; and the deep and shallow places, with the dif ferent colors of sand, clay, mud ar.d grav .el are plainly visible. This is easily ex plained, for when immediately over the water there is a ly-ge.area beneath which GIVES US NO REFLECTION FROM ITS SUR FACE, and the vision is therefore allowed to penetrate the transparent medium. Echo is an accompauimcnt of balloon asceusions, when not sailing too high. The reverberations come from the earth and clouds. They are very distinet, and are sometimes repeated over and over again. The effect produced by a bugle is very tine, the echo being heard first, some seconds af ter the notes have been sounded, and then at regular intervals, dying away in the dis tance. The best effects are produced under a heavy cloud stratum. The temperature gradually falls as the balloon rises, the rule being one degree off Fahrenheit for every three hundred feet. This rule varies at times, however, par ticularly in cloudy weather, when it is usually found to l e much warmer above the clouds than below them, for the reason that clouds reflect the heat of the sun above, at;d, at the same time, prevent its rays from pa’ssing below. The effect pro duced on the body by the sudden change, from heat to cold, is not so grea't as might at first be supposed, from the fact that you are apparently in a dead calm, drifting with the wind. The sun’s rays seem to act more powerfully too, and on reaching a height where the temperature is below the freezing point, a tingling sensation is apt to be felt all over the body, which js produced at once by the heat of the sun’s rays, and the absorption of heat from the body by the surrounding atmosphere. The rate of speed at which a balloon travels depends, of course, on the velocity of the wind, and in my own experience varies from five to seventy miles an hour, the latter rate being accomplished in a heavy gale. Balloons cannot be guided in a different direction from that of the wind, though the course may sometimes be changed aod an approach made to aerial navigation, by availing ourselves of the cuircnt- of air which may be moving in contrary direc tions Tbe balloon cannot be poised at any point in the atmosphere for any consider able length of time, there being a tendency always to either rise or fall; for when w ascend the gas expands till it overflows at the open neck; the balloon losing in this way a portion of its buoyancy we descend, when ballast is discharged and we rise again, so that our voyage becomes a series of ups and Uowqs, manage as we may. ’ The rarefaction ot the atmosphere is a noticeable feature of these ascensions. At the surface of the earth the pressure is equal to about fifieeen pounds to the square inch ; at three miles and a half, only one third; at seven miles, one fourth; and at ten and a half, only one eighth. The gas retains its proportional lightness, and hence, if the balloon is filled at starting, one half would be lost in attaining the height of three and a half miles, three fourths in reaching the height of seven miles, and if it were possible to as cend so high, seven eighths of the gas would be gone on attaining a height of ten and a half miles. The balloon re mains distended, overflowing from the opeo neck, during the whole of the ascent. On descending again, the gas shrinks to its original density. Thi3 expansive condition of the atmos phere, makes it impossible of course, for us to reach any very great height, and in fact, the weight ol the balloon and passen gers, is* such a large proportion of what the whole amount of gas Will lift, that when one half is lost by expansion, the balloon must of necessity descend again. For this reason, we must content our selves with sailing under the altitude of three and a half miles, though there have been a f? w instances where assensions hive been made, for scientific purposes, to a greater height. Gars Lussac, on one such occasion, attained an elevation of 23,040 feet, or upwards of four and •: De-tbird miles. From the fact that expansion takes place so rapidly when rising, the neck of the balloon must always be left open, and if the ascent should be very rap'd, the valve at the top must be opened also, or the balloon will burst. This was the case in an asccn. sion recently made from Atlanta by an amateur. He started prematurely, before sufficient ballast had been placed in the car, and rose with an ascensional power of j between two and three hundred pounds,- shooting upward like a rocket. An im-! mediate escape of five or six thousand j cubic feet of gas was absolutely necessary, I hut as he neglected to open the valve, and ■ as the open neik was not of itself suffi- j dent for so large an escape in so short a time, the balloon, as.a. natural cocse j quence, was burst in less than three minutes after leaving the ground. The bal loon collapsed when nearly a mile high, and instantly formed itself into a parachute. The descent was rapid, but though the occupant of the ear must undoubtedly have struck hard on reaching terra firma, he received no injury to speak of. The balloon is covered with a net-work, and to this the car is attached, so that the incum bent weight is distributed over the top of the balloon. Under this arrangement when the gas suddenly escapes the balloon can- not string out, but the air acting uuder neath keeps the cloth spread up against the net, thus forming a sort of parachute, large enough to offer a sufficient amount of resistance to the atmosphere whilst de scending. So {jar as my own experience ex tends, I am aware of no ill effects pro duced on the system by the rarity of the air at great altitudes; the puise beatsquick er and the breathing is more rapid, but Dature regulates those things. The trav eller may suffer in climbing mountains of no greater elevation than we attain, but there is a marked distinction between the two situations—the one re quires physical exertion, the other does not, and this makes ail the difference. Thore is apt to be, however, at the great est heights a slightly disagreeable feeling in the head, which leanu.it describe other wise than as a sort of numbness, ascorn panied by a kind of hissiDg noise in the ears ; this is undoubtedly produced by the expansion of some aeriform fluid, contain ed in the head ; and which seeks to find vent through the tympanum of the ear. Altogether, considering the few draw backs experienced in serial voyages, it is a matter of ast.mishment that so lew, com paratively, avail themselves of the oppor tunity afforded by balloons-for witnessing scenes of grandeur the like of which can not be found elsewhere. Men of wealth will roam the wide world over, spending fortunes in the prosecution of sight-see ing, and yet pass by one of the greatest wooders man has ever loked upon. The vast scenes presented to the view; the lessons taught, the pleasure found, and the everlasting remembrance of one such experience, outweighs all the risks or dangers incurred. S. A. King. Southern News. Richmond, Va., has a woman’s rights society. Virginia is to he divided into sixteeu ju dicial circuits. Jackson, Miss., was partially lighted with gas on Monday last. A gray eagle, measuring nine foet from tip to tip, was killed in Arkansas the other day. A negro died in Memphis on Wednes day from the effects of a dose of chloroform administered by a physician. Mr. Warner Wallace, an old citizen of Texas, died a few days ago, near Austin, in the seventy-second year of his age. The receipts of loose tobacco at Shock hoc warehouse, Richmond, have averaged about 70,000 pounds per day i'or some time past. John Glassoock and Byron Glasscock, tried by a military commission in Austin, Texas, in August last, on the charge oi murder, were found guilty of a “felonious assault with the intent to kill and murder,” and sentenced to three years’ confinement in the State penitentiary. The Huntsville (Ala.) Advocate threat ens the railroad thieves at Montgomery with “anew party, with bold am' able leaders to repudiate the bond swindling upon the State.” It says : “Beware, he warned, ere it is too late. The storm is ris ing and the whirl-wind will be restless 1” In Calvert, Texas, a few days ago, four gentlemen, of Bryan, put in bids for some 16,000 acres of land, situated in various portions of Texas, and sold under the ham mer to satisfy claims in a bankrupt suit. The land was knocked down to them for about eight cents currency per acre. The editor of the Rockport (Texas) Transcript was presented a few days ago with a ripe strawberry, measuring nearly four inches in circumference. He says: “There were many more on the vines, but this was the first one ripening. The others are as large, *nri will ripen in a few days. What locality can boat this in size of berry and time yf ripening?” Mr. St. Lanier, a gentleman well known in the Sooth, died at his old home, the Exchange Hotel, Montgomery, Alabama, on Monday. Mr. Lanier was for many years a resident of Macon, Georgia, and kept there the well-known “Lanier House.” In 1850 he moved to New .York, and took charge of the “La Fargt House,” which became well known and popular. It burned down just as he was beginning to make for it a national rep utation. Kcport of' the President of the South Carolina Railroad. The following is the Report of the Presi dent and Directors of tho Road, submittal to the meeting of the Stockholders, on Tuesday last: Office of the So. Ga. Railroad } Company, Charleston, S-. C., \ January 19-. 1870. J To the. Stoclchohlers of the South Carolina Railroad Company : Gentlemen- -The Board of Directors ask leave to submit a report of the opera tions of the year just closed, and of the condition of the Company on . the 3lst ultimo. The usual reports and statements from the Superintendent and Auditor are also submitted. The results whibh are exhibited, the Board are confident, will excite amoDgst the Stockholders a degree of satisfaction quite equal to their owu. They could hardly have anticipated, in view of the competitions and difficulties which op posed us, and we confess occasion us pride, gratification and even surprise. Important transactions have marked the progress of the year just passed. The contest with the Columbia and Augusta Railroad Company culminated and were finally disposed of, with, it is hoped, the embittered feelings and acrimonious and expensive litigation which attended them. The obligations of the Company to tho bill holders of the Southwestern Railroad Bank, after yoars Os objection and dispute, have been finally admitted, and, except to a small extent, discharged, and the efforts of the Company’s negotiator abroad for the settlement of their sterling debt sue cessfully concluded. These measures have all exercised no inconsiderable influence upon those interests of the Company which arc the subjects of this report, and have had their full share in increasing and ag gravating the difficulties of administering r.he affairs of an institution so peculiarly circumstanced as this. They will, in their proper places, be more particularly referred to hereafter. The earnings of the year are stated to have been from all sources $1,382,107, and are in excess of 1868, $87,205.11. They also considerably exceed the earnings of any year since the war—a fact full ot en couragement to the owners of the proper ty. New lines of communication have been opened between points heretofore connected by our road, sharp competition excited, and, as a necessary consequence, lowe, rates of freights and passage estab lished. Again, it is easy to concede that every new line of communication has, in some respect, advantages not possessed by pre-existing ones—in the direction of less distance or otherwise—which do not iaii in the end to assert thcT due influence. Thus it has happened, for instance, that the completion of the Columbia and Aa giista Railroad, last summer, while it de veloped competition with us to almost all important points, naturally and almost without effort, appropriated that portion ot our bu-iness which grew out of • the relations with their business communica tions at’Columbia and Augusta, and re spective adjacent territories. Whilst, therefore, the income of the year has had to contend against a reduction of rates, made necessary by competition, as well as a diversion of some of its business, not to be retained by any effort of the Board, a handsome increase is still shown over pre vious years. A further cause of satisfaction is found in the nature of that increase. It is de rived principally from freights moving to the West, beginning in great part at the centres North, and indicating by their rapidly increasing volume, the maintenance of this line’s hold upon the confidence of the general public. The operating expenses of the year are $734,425.53, and aie 53 13-100 per cent, of earnings. Whilst it might, perhaps, be sufficient to state here that the management shows rather a less ratio of expense to earnings than is usual npon roads operated under similar circumstances, and even more fa- vorably situated, it is proper to add that, in the judgment of the Board, there is room, even here, for a more favorable ex hibit. For though it is quite true that in ' many items of expenditure, payments by this Company are very much below those of neighboring roads, it is not less true that the Company is, in other respects, affording service and accommodation not justified by compensating, equivalents. How much clamor, and the unceasing efforts of the selfish have to do with this, it is not sufficient importance to enquire. The consideration of the Board will be given at a very day on the subject. The net earnings, from what has been shown, stand as $647,741.47, and are 46 87-100 per cent, of gross. In compar ison with the year 1868, there is a differ ence of $50,226,98 in favor of this year. The character of this account has been matter of reference and explanation so fre quently that there hardly appears occasion to add a word mo-e here. But before pro ceeding further, the Board pause to ask the stockholders to contemplate the fact, which is here exhibited,, to wit: a balance, after deducting managing, expenses, of over #600,000, or ten per cent, upon their capi tal, and to consider in connection with the policy of the present administration, which has constantly and earnestly been directed to the reduction of indebtedness, as con stituting the truest and surest foundation of the stockholders’ prosperity, The disposition of this balance is ac | counted for in the'Auditor’s statement, as I follows: Net earnings as stated $647,741.47 Deduct interest, damages and stock- killed 315,910.13 Leaving net incorn; of. 331,831.34 Add thereto reduction of pre vious balances of stocks of materials 19,947.86 Payment under the contract with the City of Augusta and the Charlotte, Columbia and Augusta Railroad Company. 75,000.00 Making -$426,778 70 Which has provided for the following : Restoration of proper ty, including cost of new rail iron, after deducting sales of old, (89,607.74) 133,815.37 Cars built at the Company’s shops ; 2 first-class and 6 sec ond-class passengers, 43 box, 2 platform and 2 stock cars... 50,633.64 Settlement oi' Confederate claims, &c., deducting sun dry credits 55,603.00 $240,112.01 Leaving a balance of $186,666.69, which has gone to the reduction of general in debtedness. In the exposition-above given, the item “damages,” on account of its unusual amount, may require some explanation. It is due to the fact that it includes the losses occasioned by the disaster in the Congaree Swamp, September 18th, 1869, burning of cotton in Columbia, December 25th, 1868, and subsidy to Liverpool semi monthly line of steamships. Apart from interest, aud payments on account of debt, it will be seen that there have been, again, heavy expenditures for additions to, and improvements of prop erty, all rendered necessary by the demands of business, or the necessities of the case. The report of the General Superinten dent contains the usual interesting matter in connection with the details of the ope rative department of the Road. The mileage and tonnage tables which accom pany it, will be found interesting from their intimate connection with the expenses of management. The excess ot tonnage is stated over last year at 25,436 tons and greatly preponderates in the direction of the West. The condition, then, is that we are moving heavier masses of lreight at lower prices in one direction, aud returning a disproportioned number of empty or par tially loaded cars, thus rendering the economic management of transportation a very difficult and perplexing task. The wants of this department for the year just entered are as follows : Three passenger coaches* Fifty box cars. Fifty platform cars. Two thousaud tons, rails New bridge across the Edisto River. Trestle and stone culvert near Grauito ville. In so far as the absolute necessities of the lload may seem to require outlay, a just regard to the interest of the Company, and proper sense of their owu responsibili ties, will impel the Board to act, but only under such convictions and in suoh direc tions. It seems to them eminently fit to consider now the more immediate interests of the Stockholders. Certainly to the es tablishment of a sound and substantial value for their shares, but with equal cer tainty in the immediate interest of the public, the revenues of th 4 property have been disposed of. It is meet, now, tho t those should be restored to their channel at the earliest practicable moment. The extra work done in this depar.ment, the changes in the car and locomotive ac counts, are briefly summarized from the Superintendent’s report, viz: Improvements at agencies, and at cations o» tli° line of Road--, *0,973 45 Half cost ol bridge at Waterec, and Hampton Creek Culvert at True Blue 20,766-14 Rail iron laid down to the extent of 1631 tons .89,607.74 Cars ol all classes built at the Company shops (58) fifty-eight 50,693.64 The additions to the stock of cars were simply indispensable, and it is yet short; but it is not contemplated, at present, to construct more than the number necessary to keep up the present supply. Five new locomotives were purchase 1 to relieve the trains to some extent from the pressure of way Heights. Os these, four have been recently received, and one i in North Carolina. Os the four received, three are now running, and one is in the simps. Lc was found that in exacting “way freight” service from “through trams,” a speed was required entirely too high for safety aud economy, and it is proposed to separate the two classes of freight, and run trains especially for way freight. The papers and statements from the Auditor convey a full, am,, it is believed, faithful account of the transactions ia that department for the year. Tho Board se lect for your present information the con densed balance sheet: statement showing the condition of The south Carolina railroad com pany, DECEMBER 31, 1869. Dr. To roadway track deposits, struc tures, <fcc $7,738,996 40 X.ands 435,378 26 Cars 312,973 66 Locomotives 438,253 00 Supply of ma terials 58,921 08 Commissary stores.! 1,808 20 Cash 25,736 54 Agents 97,936 39 Postoflice ]J e .partment 14,657 21 Bonds receivable —Columbia and Augusta Rail road Company Sundries 19,961 Bills receivable... 5.448 44 —— $238,739 57 Stocks 443,212 60 Investments In first mortgage bonds and certificates of indebted ness of Greenville and Oolumbia Railroad Com pany 57,398 03 Southv, estern Raii ro ad Bank 501,447 00 * $10,222,127 79 Or. By stock 5,819,275 00 Bonds payable— Sterling 2,342,832 44 Bomestic 1,704,519 00 Bills payable 295,661 39 Transient creditors.. 145,263 38 Less transient debt ors 85,426 42 $10,222,127 79 This paper briefly, yet explicitly, ex- I presses the financial condition of the com -1 pany at the close of the year, and when the heavy losses, and still heavier obliga tions they have had to meet, ar.e remem bered, it will excite the liveliest gratifica tion amongst the stockholders. ! The movement of the principal ac counts, “bonds payable” and “bills paya ble,” are thus indicated : Domestic bond debt, Decem ber 31st, 1869, stands at $1,704,519 00 Domestic bom) debt, Decem ber 31st, 1869, stood at 1,585,296 08 Increase in 1869 . $119,222 94 This increase is tbe result of: First, issues of new bonds on account of the South. . west’n R R 8ank..445,000 00 To retire past due bonds andcoupons and for invest ment* in Green: vd le andColum bia Railroad Bonds... 4,000 00 Add interest on past due bonds to De - cember 31st, 1869 13,651 25 Making together $462,651 25 Second , a reductir n of past due and unmatur dbonds 316,025 00 Reduction of inter est on past due bonds 27,403 31 5343,428 31 Producing the result as above stated $110,222 94 Bills payable on 31st Decem ber, 1869, stand at $295,664 39 Bills payable on 31st Decem ber, stood at 88,060 60 Showing an increase of, $207,603 79 This has been occasioned by tbe issne of notes during the past year lor the Mow- , jug purposes, viz; To retire bonds aud into e !. .. $68,739 18 her loans .... ... i 19j£00 Interest due Bank of Uharles- & aUlr “ D ; 20,270 77 General supplies, &e 35,825 55 V *266,164 39 Urom which deduct payment on seeount balance 31st De cember, 1568..*. 158.5C0 60 And the above result is shown.. $207,603 79 lhe balance of the account on December 31st, 1869, is com posed of what remains un paid of ba!ance'3lst Decem her 1868 2 9,500 00 And the new issues as stated abovc 266,164 39 $295,664 39 From this it will appear that, notwith- the heavy issues 0 f t h e objects stated, the bond debt of the Company has SSons ii nCre / scd ,'. n the 9 um of SH9,- 22- 94. Nor does this exhibit at present, in the most tavorable pc.nt of view, the condition of that account. It would be perfectly legitimate, in the opinion of the Board, to credit the iuuGunt charged to bonds w th such portions of it as represent, subscriptions to railroads, steamships and other property, not an in tegral part of the railroad proper. We should thus have: to Macon and Au- Rusta Railroad $160,000 bubseription to steamships 155,000 Making $315,000 And this amount taken from... $1,707,519 Would reduce the bond account t 0.... $1,389,519 Equally favorable explanations can be offered oi the hills payable account. As shown, that account iocreased for debt and purchases, as compared with 1868, $295,664 39; but upon the opposite side ot your sheet you will find assets considerably in excess. Now, if thpse were applied to your bills payable, you would have little or no floating debt. It is true it is no! desira ble to dispose of these assets; some of them are held for special purposes; a I are yearly improving. That, however, does not affect their relation to the debt of the Company. It is doubtless expected that something should be said about future dividends. It was the earnest desire and confident expec tation of the Board to commence the pay ment of dividends on the Ist, of January, 1870. • The necessity of assuming the pay ment of the issues of the Bank, and the arrangement of other debts, has prevented i hem from carrying this resolution into effect. But it is their present purpose, ■ if nothing unforeseen should ooour, to com mence the payment of moderate quarterly dividends on the Ist of July next. They prefer to begin slowly and proceed cau tiously. A portion of t-e past due bond debt remains out, and in April they have to provide for a portion then to become due. Tlies:, and other cash obligations, in a market with so small a money base, lorce upon them a policy narrower than their inclinati ns would adopt if any other were practicable- The Board it proper to refer par ticularly to matters of imporiance to their interests, elsewhere in their report only alluded to. • NEGOTIATIONS WITH THE COLUMBIA & AUGUSTA RAILROAD. In the progress of litigation with that U mpany, with reasonable assurances of success, it became necessary to call upon the city of Augusta to perform her obliga tions under a contract provided, that no Railroad from the city of Charleston or Columbia should be allowed to enter Augusta, except upon payment to the South Carolina Railroad of the subscrip tion to the Macon & Augusta Railroad. This subscription was based upon agree ments of such a nature, and these agree ments were mainly relied on by the Board in the acrangement of the litigatior. But. somewhat to our surprise, we were not only met with refusals, but 'with counter demands, if we declincu the proposals jointly submitted by the Charlotte, Colum bia & Augu ta Railroad, and the city of Augusta, to conform to all conditions of agreements made with preceding adminis trations, conditions which.had never been enforced. Under the peculiar circumstances, how ever, tho Board could not hesitate. They accepted the proposals offered them, and united in anew contract, whereby litiga tion was to cease, the rights of this Com pany in future to unrestricted freight ar rangements recognized, and a cession until January 1, 1870, to the Columbia A Augusta Railroad of the use, by their trains, of this Company's bridge, across the Savannah River. In part considera tion of which the Columbia & Augusta Railroad was to pay iu its bonds the sum Os $75,000. THE SOUTHWESTERN RAIL ROAD BANK. The Stockholders of the Road have, from time to time, been kept advised of the demands made by the holders of the bills of the Southwestern Rail Road Bank for payment. These demands have been persistently resisted, and every reasonable effort made to a responsibility oppressive in its character, and attended.with doubts which utterly excluded a ready acknowl edgment of our obligations- Nevertheless, if has always been the opinion of tho Board that a just and judicious compromise of those claims should be sought in the true interests of the Company, and to that end the directors have Dot failed always to di rect their earnest attention Litigation, however, iu this connection assumed an aspect during the .summer which, in con junction with legislative enactments refer ing to Banks iu suspeusiou, admonished the B ard of the danger or delays. They therefore hesitated no longer to accept the offers ot compromise submitted to them, and proceeded at onco with arrangements for the settlement of the outstanding cir culation of the Bank. In that direction they have proceeded, until now but a small sum remains unarraDged. '1 he settle ments were made chiefly in the six and seven per cent bonds of the Company. The Bank, as shown in the Auditor’s state ments, is indebted to the Road in the sum 0f5501,447. THE FOREION DEBT. Little is left to the Board to say, beyond the announcement of the fact of the return of the Hon. C. M. Furman from London, where he has been in charge of the nego tiation for the past cl ’ll teen months ot the Company’s firs direct mortgage bonds ior the exchange of past due live pur cent, sterlings. That measure- may be regarded as accomplished Mr. Furman reports the acceptance of the necessary number of assents, qualified only by the very proper condition that the necessary legislation he had to relieve the Company from the Statu lien originally imoofied to protect the old guarantees. This legislation hai been ap plied for as comprehended iu toe Act here tofore aj pended, lias the sanction el the. Governor, and L- expected to be in the possession of the Board at an early day, when it will he trausmittei, and the ex change of bonds he consummated. LOCATION UPON THE WATER. The Board have at length been enabled to move in a direction long since indicated by the wants of the Company ami the in terests and demands if the public, and all lines of transportation in connection to a “location upon the water.” A favorable site has been purchase! upon iair terms, and with suoh ad van; ages as will afford scope for the most com pre-hen bo ,lms of arrangement—plans which wnl 1.. k not only to the indirect profit of the Company through additional facilities furnish-d to the public, hut to a solid and sub.-tanliai addition to its wealth. It is promised t.> proceed without unnecessary delay with preparations for the work. We have succeeded, also, duriog the year in adding largely to our facilities of communication on the sea. Two new and very superior iron steam ships have been placed on the line to New York. Their capacity, each, is*nearly double that of any of the vessels previous ly ib service on that route, and the In creased strength which is thus acquire! is regarded as of great importance to the in terests of the Company. These vessels are owned in common with the Georgia Railroad, and individuals in this oity and elsewhere. The Board beg to conclude their report, by recommending to the Stockholders the adoption of the resolution, which they submit herewith, providing for the consoli dation of the'half shares of the stock into whole. The measure has had their earn est consideration, and they regard it of decided interest to.the Company. Resolved , That the Bjard of Directors be authorized, at the earliest day practica ble, to consolidate the half shares of the stock by issuing one whole share for every two halfshares, as now represented on the Stock Book. Before closing their Report the Board have devolved upon them the painfnl duty of announcing that since the St' ckholders last met together another of that old and honored Baud, whose associations with this Company dates from its birth, and whoso character and counsels have contributed so largely to its reputation and prosperity, has been removed from us by death. The Board’s loved and honored associate, the Stockholders’ faithful servant, the Flon. Jame 9 Rose, died on October 10, iB6O. ’ . * , . L The Board have sought m the preamble and resolutions which are appended, to give a feeble expression of their feelings. Respectfully, W. J. Magrath, President. The Supreme Court sustains the injunc tion granted by Jadge Cole, in the case of StepheD Collins and others against the Central Railroad, restraining the sale of the Atlantio and Gulf Railroad stock hold by the city of Savannah to the Central Railroad Company.
