Newspaper Page Text
VOLUME XI.-NUMBER 1883.
CHARLESTON, THURSDAY MORNING, JANUARY 18, 1872.
EIGHT DOLLARS A
THE SOUTH CAROLINA R. R.
ANNUAL REPORT OF THE PRESIDENT |
An Interesting and Encouraging Ex?
hibit of the Condition and Prospecta
of the Company.
OFFICE OF THE S. C. RAILROAD COMPANY, )
CHARLESTON, January 25, 1872. j
To the Stockholders :
The board of directors respectfully submit
their report of the transactions of the comps- j
ny lor the year 1871, and of Its condition on
411st December last:
The report of the vice-president on t-; op??
rai lons ot the road, and the condition of the
property in his charge; of the auditor upon the
accounts, and of the treasurer, exhibiting the
financial movements in his department during
the year, are also submitted.
They are all executed in very full detail, and j
will be found interesting, and, lt ls hoped, sat?
fte Income ot the company, as represented
in these statements, appears as follows, viz:
Earnings ot Road..J^325,442 00
Expenses of Road. 879,858 63
Balance of Earning?. 445,583 37
. Add received from Dividends on
Bonds and Stocks. 19,207 93
Balance of Income.$ 464,791 30
Against this have been charged
For Interest Sterling.$ 75,397 31
For Interest Domestic. 276,119 02
Dividend No. 44 . 58,194 00
Total.$ 409,710 33
.And the balance transferred to
Profit and Loss. 55,080 97
. The earnings of the road, as compared with
those of last year, show a falling off
The expenses show a reduction of.. 36,237 19
The board do not find any cause of dis
.-couragement in this comparison of earnings
For though the reports of competing lines
exhibiting much greater proportionate losses.
. demonstrate that we have not Buffered from
competition; and as well, that certain general
-causes have affected the railroad earniogs of
-the South; your road, you will remember, for
- two months of the year, was almost Isolated
by a malignant fever, and cut off in a great
.measure from important sources of revenue
by apprehensions as unintelligible as they
were hurtful. When to this cause, then, so
sufficient of itself to account for the larger
i portion of your loss, are added the influence
ol the very low prices of produce prevalent
the flrst half of the year upon the movement
of general merchandise to the interior, and
the diminished shipments of cotton to the sea
-the result of a short crop-lt would rather
seem a matter of wonder that we have suf?
fered so little. It is, however, not to be dis?
guised, that yearly the profitable working of
railroads becomes more difficult. The esta
bllshment of new lines not needed by the
wants of the country, and not developing new
? and supporting sources of revenue, necessarily
divides the business of the older com?
panies; whilst their management, based upon
principles not suited to our condition, is in?
fluencing rates of transportation to an extent
that, In no long time, will be seriously lelt by
all. We deprecate, earnestly, a condition of
things which we regard unwise and unneces
sary; and have always been ready to unite
wilh competing lines and aot in a direction
-which will allow competition to benefit com
munitles, without sacrificing railroad corpora?
tions; but failing that, we are equally ready
and determined to protect ourselves and our
? connectons, and maintain our tonnage.
The "reduction of expenses," as above
' stated, Is in a less ratio, la comparison with
the expenses of 1870, than the loss of earn
legs-the former being 3.95-100 per cent., and
. the latter 9.95-100 per cent. To a great extent,
'this may be briefly explained thus: It ls not
ee.s}, if practicable at ail, lo accommodate ex?
penses in some of the departments to a fluc?
tuating and uncertain business, (and here ls
one of the greatest difficulties in the manage
-ment of Southern Railroads,) bat, when with a
road put In good condition for legitimate busi?
ness and manned to meet the demands of the
* .public, a violent epidemic ls encountered,
.whose duration cannot be determined, or in?
fluence measured, calculation Is at fault and
At the earliest possible moment, the board
ls quite satisfied, proper efforts were made,
?to bring down the expenses of management,
to Just relations to the business require?
The exhibits of the treasurer contain no
features worthy of especial notice. The bond (
and general Indebtedness remain without ma- 1
terla! change from the report twelve months
The issues and retirements of bonds during
the year are very nearly equal, leaving the ac?
count substantially unchanged. The bills pay?
able show a considerable Increase, in compar?
ison with the outstandlngs, at same date, in
1870, amounting to $452,581 34 and is account- I
ed for by thc treasurer as follows : 1
Purchase of Macon and Augusta I
Railroad Comp my stock.$250,000 00 t
To retire due and past due bonds
and Interest. 46,700 00
To provide for sterling interest and
fractional balances In exchange of
sterling bonds. 52,760 00 1 1
Toietlre certificates of indebted?
ness. 9,985 00
To meet dividends, declared prior
to 1871. 56,200 00
Verdict in cases Gilbert and Central
^Railroad Company, costs and pro
' fessional services. 19.500 00 I I
Loans for general purposes. 17,436 34 | c
As before observed, the general result of the
bend and other indebtedness of the company
-diff?ra in no essential degree from that of the
THE FOREIGN BOND DEBT,
which, since its maturity in 1866, has been in
an unsettled and unsat sfactory condition, ls
now, the board are happy to report, in a posi?
tion which relieves them from all anxieties
connected with it. The history of this debt
is doubtless familiar to the stockholders, as it
has been the subject ot comment in all the late
annual reports. It is known to them, that
shortly after the maturity in 1866 of the old
State guarantee bonds, the assent of the State
to an extension of the guarantee and the ac?
ceptance by the foreign holders of new bonds,
with such guarantee, were obtained by the
board. That in consequence o? the refusal of
the American holders to unite in the ex
Change, they were compelled to abandon
fur Liter efforts to arrange this debt upon the
plan flrst contemplated, and seek some othei
which would be satisfactory to all; and that
after mature deliberaron, a new issue of
bonds, secured by a flrst, and only mortgage,
was resolved upon, prepared and offered to
the holders of the "old guarantee,", as well as
^those of the "new," previously exchanged.
An arrangement, in the judgment ol the
board, so favorable to all, and particularly to
the foreiga bondholders, who had exchang<
for "new guarantee bonds," was promptly a
cepted by the American bondholders, bu
strangely enough, obstinately reiused by tl
former, who seemed to entertain rooted pr
judlces in favor of what they denominate
national guarantees over mortgaged seem
ties. To meet these objections, and establls
the superior character of our first mortgai
bonds, the Hon. C. M. Furman went over t
England in the summer of 1868, and remain?
there fourteen months. Mr. Furman sui
ceeded so far as to obtain the assents of
number sufficient to fulfil the requirements i
the mortgage deed, and justify the expect
tion of the board that the exchange woul
proceed without further difficulty or dela;
But the lapse of u'ore than a year, unaccon
pained by any report ot progress in the e:
change by our agents in London, could nc
fall to excite the lively apprehension of tt
broad. To allay these, to ascertain what ne
causes of doubt or changes of purpose ha
arisen, and to push forward the settlemei
o? this buslneas with all practical energ
the president of the company wet
over to London in July last, and n
malned there until the latter part <
the following month. Upon his arrival 1
London, the president found that not a bon
had been exchanged, and no progress whai
ever made beyond the "assents" already r<
ierred to, and the force ol those weakened b
time, change of ownership, and other clrcurn
stances not requiring further notice here. I
bad become necessary that he should assum
active control of the negotiation and prc
oaedlng8 in sucbjfdlrectlon as seemed mos
promising of success. With the friendly an
valuable co-operation o? Mr. Edward Horsle
Palmer, actual exchanges of bonds to th
amount of ?235,000 were accomplished in
few weeks. This sum, since increased t
?239,000, being considerably in excess of th
four-fifths required to be exchanged before tb?
mortgage deed was vitalized, there was n<
further occasion for the presence of the presi
dent In England. All the holders of any mag
nitude- had exchanged-the residue held ii
small amounts, and by numerous parties, wai
only expected to be sent In slowly, perhaps t<
no considerable extent until the January divi
dend was called for. It Is the Impression o
the president that the maj or portion of tb?
"outstanding^" will then be exchanged. Hi
knows only of a single case of positive objec
tion to our proposals, and does not believ<
that in that Instance there is the sllgbtes
disposition to press, or of an unfriend!:
The amount ot new bonds to be given foi
the old and interest, as the exchange stood lr
October, wa? about ?80,000; but as the ex
changed bonds have not yet arrived, nor the
statements of our London agents, with lull
particulars of later exchange, the accounts re
main unchanged on the treasurer's books.
The board bas already referred In this re?
port to the Influences exercised by unneces?
sary and unwise competition. Closely allied to,
but much more potential, than this danger to
the earnings of our road, Is another, which
the board could no longer Ignore, the Joint
product of ambitious corporations and super?
abundant capital. The rapid absorption and
consolidation of contiguous roads, and their
un in la tatoola epproach to the acquisition of
our most important connections, left the board
no choice, however financially unprepared for
such a policy-not to act was to submit to a
circumscription of territory, so narrow as to
be unable to afford Bupport for the road, and
to disastrous Injury to the commercial inter?
ests of Charleston. They did not, therefore,
hesitate to adept the bolder, and, un
der the circumstances, the wiser course.
They have purchased and acquired
a controlling interest in the Macon and
Augusta, and the Greenville and Columbia
Railroads. The former secures to us the great
benefit of free and cheap approach to the
heart of a prosperous and growing section of
Georgia. The latter retains to our road and
chief city a connection, whose loss would in?
flict injury lt would not be easy to estimate
now. These movements have elicited such
general, prompt and cordial expressions of
approbation throughout the State, that the
board feel little apprehension ol dlssatlslac
Hon on the part of the stockholders. As the
irrangement in connection wlih the Green?
ville Railroad was not completed until alter
he lat January, the particulars of the trans?
itions do not appear in the accounts of the
In the maller of the Southwestern Railroad
tank, the board have to report that, in con
ormlty with the resolutions of the stockhol
lers, there have been paid over to the rall
oad company the lollowing sums, which are
luly credited In the treasurer's accounts to
Sterling bonds and coupons.$76,944 44
Lmount received In case of bank ver?
sus Ryan. 1,967 04
The board regret to report that during the
last year, their valued associate, H. H. De
jeon, Esq., under the Influence wholly of
irlvaie and personal considerations, resigned
Subsequently the racancy was filled by the
lection of Mr. W. L. Ellis, ot Macon, Georgia.
The board, under the Influence of consldera
ions suggested by the reduced business of
he road, the high cost at which alone a large
bating debt can be carried in a market such
?s ours, where money capital is BO limited,
tod to a great extent by the necessity too
?lain to be mistaken, o? using the means and
iredlt of the company in pursuance of a bold
ind liberal policy, in meeting efforts to cir
?umscrlbe our own territory and divert our
>u8lneE8, concluded to postpone the further
leclaratlon of dividends for the present.
They believe this measure to be in the direc
ion of the greatest benefit to the stockhold?
ers' permanent interest, and any considerable
leoline in the value of the shares, without
lueBtlon, temporary. An improving property,
in Increasing income, and a debt in process of
-eduction, are the greatest guarantees of
lound and solid values, which, sooner or later,
lever fail to assert their claims to the notice
)f capital. Our confidence in the future of the
-oad ls unshaken.
We present to the stockholders the property
)f the company in high condition-in condl
lon equal to any it has known in its palmiest
lays-Inferior to none In the Southern coun
,ry. It has stood the severest tests which we
lelieve can be opposed to lt, and v/e confident
y anticipate for it a bright and prosperous
W. J. MAGRATH, President.
SOUTH CAROLINA RAILROAD, )
YJCE-PRESIDENT'S OFFICE, >
CHARLESTON, January 1, 1872. J
To (kc President and Directors of the South
Carolina Railroad Company:
GENTLEMEN-The business of this road for
the year ending December 31,1871, has been
From passengers... .$ 268,038 32
From freights. 1,035,257 10
From malls. 22,144 58
For conducting trans?
portation.$ 294,015 15
For motive power... 221,392 80
For maintenance ot
way. 253,836 76
For maintenance of
cars. 60,715 37
General expenses.... 49,898 55
Total. 879,858 63
Leaving NET EARNINGS.$ 445,583 37
COMPARATIVE 8TATEMEST OF EARNINGS.
Passengers. Freights. X"ils. IncuVtls.
1871.$.'68,03832 $1,035.25910 $22.144 58 $ -
1870. 292,85385 1,148,94683 28,54135 3,68006
Decr'se.$ 24.815 03 $ 118.68678 $ 4,396 77 $3,660 06
Total earnings, l87l..$l,472.C20 59
Total earnings, 1870.. 1,328,442 00
Decrease.$ 146,578 59 or 9.95 per cent.
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*Tai3 account ls charged with $294,015 15,
equal to 33.4-10 per cent, of the total expenses,
and shows a decrease from 1870 of $22,512,
chiefly in the Items of "labor and expenses
at stations" and "loss and damage." This last
has been charged with $4235 13, the amount of
a verdict against the company ior injuries to
a passenger In 1866.
The year's tonnage as compared with 1870
Eastward. Westward. Total.
1871. Tons.120,219 107,845 228,064
1870. Tims.105,771 133,148 238,919
Increase. 14,448 .
Decrease. 25,303 10,855
In the leading articles of eastward freight
there ls an Increase in cotton of 16,022 bates;
in live stock of 5039 bead; in grain ol 8235
bushels, and In domestics of 1449 bales. The
revenue shows an Increase of $29,271 66, or
nearly 6 per cent.
In westward freight there is a decrease of
15,919 tons of fertilizers, equal to nearly Atty
per cent., or a loss of revenue of about $30,
000, which, up to the flrst of September, rep?
resented t lie entire decrease In the year's
freight earnings. As the spring trade to the
interior had been unusually ligtit there was
every reason to anticipate a large and pros?
perous fall business, but the appearance of the
epidemic In this city diverted much of its most
profitable trada to competing linea. Tlia prin?
cipal loss was in the business of Augusta and
upper Georgia, and the same cause prevented
the Increase of business expected from the
Macon and Augusta road. The business from
the Columbia branch and connecting roads,
from their closer connection with Charleston,
has suffered less, and that from the Camden
branch shows a moderate increase, indicating
the Improving condition of that section of the
To meet competition by other lines, the road
has been compelled to submit to a reduction
of rates during the year, averaging five and a
half per cent., whico, added to the loss of ton?
nage, accounts for the decrease in freight rev?
The passenger trafile, as compared with
1870, is :
First Class. Second Class. Total.
1871.97,032 100,330 197,362
1870.92,520 94,360 186,880
Increase.... 4,512 5,976 10,482
The average distance travelled by each pas?
senger has been 42.7-10 miles. The apparent
increase in the number of passengers results
from the omission from the statements for
1870 of the short excursion and camp-meeilng
travel. Although the loss in passenger reve?
nue was heaviest during the epidemic, yet, as
in 1870, lhere has been a gradual loss of
through travel from the. opening of shorter
linos, until now the revenue may be con?
sidered as entirely derived from local sources,
and not liable to further decrease. The loss
of the North and South through travel, how?
ever, cannot be regarded as of much moment,
os the schedules required did not serve lue
local interests of the road, and, when special 1 v
provided for, the expenses absoroed all
profits; so that, for the past two years, through
trains have been run merely to fill existing
A new depot ls in progress of erection at
Langley Mills, and several of the smaller
depots on the Columbia branch have been
thoroughly repaired. At Charleston tue cotton
yards have been enlarged and replanked, at
a total coBt of $7,634 44, inclu jed in "repairs
MAINTENANCE OF WAT.
This account Is charged with $253.836 76,
equal to 28.7-10 per cent, of the total expenses,
and to $1044 per mlle ot road, showing a de?
crease of $17,313 37.
The renewals of rails amount to 1452 tons,
equal to 164 miles of track, of which there
have been received
From Abbott Iron
Company, o f
Ballimore.1.091 tons, costing $82,848 82
Company, of At?
lanta.361 tons, costing 26,370 96
Total cost.$109,219 78
This has been re?
duced by sales
of 1686 tons old
rails. 65,287 86
Leaving net cost of renewals. $ 43,931 97
Three hundred tons ot 50-lb. rail have been
ordered for the section of the Camden branch
between Ringville and. Manchester Junction.
By mutual agreement between the respective
superintendents In 1867, maintenance of this
section was left in the bands of the Wilming?
ton, Road, but its depreciated condition com?
pelled this companv to terminate the agree?
ment on the 1st of December, and io resume
its charge according to the original contract,
The Edlsto bridge was placea in service on
the 1st of September. It Is a single Howe
truss ?pan with arch, one hundred and eighty
fret in length, set on masonry abutmenls.
The trestle approaches have been replaced by
embankment, and the track through Hie
swamp raised an average of four leet. The
toial cost of the bridge, including the new
track, has been $?6,953 63, ol which $16,924 54
ls charged to this year's expenses.
At Augusta a pipe irom the city water?
works bas been laid to the bridge, and hy?
drants placed at such points as to guard it
from danser o? fire. The bridge has received
repairs required to maintain its present con?
Trestles near the 90th, 86th, 26th, 19th, 16th
and 9th Mile Posts have been replaced by
brick culverts and drain pipes and filled up.
In all, including the Edlsto trestle, a length of
6473 feet has been permanently closed.
On the 18th of July the dam of the Langley
Factory gave way, and some five hundred feet
of track near the 131 Mlle Post was washed
out. The damage was promptly repaired
without delay to train service.
The repairs of the roadway have been
thorough and extensive. The ditching of the
Columbia division has so tar progressed that
the track is no longer seriously affected by
any continuous wet weather, and the whole
line is permanently improved.
The following quantities of material have
been consumed during the year:
Main bia Di- Divis
Line. vision, ton. Total.
Rails, tons. 1,079 373 1,452
Spikes, pounds. .42,750 15,750 2,250 60,750
Chairs. 930 .... 70 1.000
Fish bars, sets... 4,398 1,700 .... 6.098
Pine cross lies.. .56,005 37,598 12,141 105.744
Cypress cross ties 17,171 6,415 .... 23,586
Frogs. 63 18 1 72
The expenses or this department have been
$221,392 80, an increase of $4554 over last
year, and equivalent to 28.3-10 cents per mile
The condition of the machinery ls not ma?
terially changed. The small engine, No. 15,
known as the "Ariel," has been condemned
and broken up. The others have received
necessary repairs, and thestock ls adequate to
present needs. It would be a measure ol econo?
my to procure light engines especially adapt?
ed to the use of the Summerville and Aiken
trains, and for shifting through the streets of
Augusta. Thorough and extensive repairs nave
been made at the Charleston shops, involving
an outlay o? $7231 17, included in "repairs of
engine houses and machine shops.'' The
Round House has been fitted up with ventila?
tors for the escape of smoke, toundatlone for
setting up a Nasmyth steam hammer laid, and
paint and glazing renewed.
At Slneath S'ation an Iron tank has been
erected on brick masonry, with small station- i
ary engine for pumping water and sawing
wood, and a wood shed bulli, 150 feet In
length by 40 In breadth. As surface water
was not found In sufficient quantity an arte?
sian well has been sunk to a depth of 326 feet,
which yields an average daily supply of 30,000
The cost of the station has been $9745. In?
cluded in "Repairs of Wood and Water Sta?
At Columbia and Augusta iron water cranes,
connected with the water-works of those cities
have replaced the wooden tanks formerly
The consumption o? fuel has been 18,286
Running expenses per mile as compared
with last year :
For repairs.7.30 cents. 6.94 cents.
For fuel.5.40 cents. 5.22 cents.
For stores.1.25 cents. 96 cents.
Total.13.96 cents. 13.12 cents.
MAINTENANCE OF OARS.
This account is charged with $60,715, an In?
crease of $2063 49 over last year. Extensive
repairs have been made, and the rolllog stock
of the company ls in good condition. The
following table shows the character o? the
equipment and the changes and additions
during the year:
On TuinCL Con- On hand
Jan. 1,1871. temma. Added. Jan. 1,1872.
Flrst-clasi. ..22 1 0 21
Second-clasj.25 0 0 25
Total.47 ? 0 . ~46
Box cars....350 ? 21 369
Stock cars. .14 10 14
Platforms. ..100 1 4 103
Total.464 3 25 486
All o? which ls repectfully submitted.
ALFRED L. TYLER, J
NEWS FBOX WASHINGTON.
WASHITOTOM, February 12.
Garrett Davis has rehp-ed, and his state Is
Ju dare McKean has permission to come here
to explain Mormon affairs.
_ Colonel Robb, collector of customs at Savan?
nah, upon tba luvltatlon 'ot' Da wes. chairman
ot the committee of ways and means, ls here,
to explain why the tariff should not be taken
off rice, and, incidentally, to urge appropria?
tions for river improvements In bis section.
SENATE.-Chandler presented a petition in
favor, but opposed the abolition of the moiety
system in customs seizures. Sumner moved
fur a committee to investigate the conduct of
government officials In the sale of arms to
France during the war with Prussia, to sit J
with open doors, which went over under the
rules. The committee on foreign relations
were directed to consider the Joint resolutions
directing the President to pretest to Spain
against'the treatment o? coolies ia Cuba.
Tue Chicago re le? bill was resumed. Ad?
HOUSE.-Bills were introduced for erecting
public buildings at Rome, Georgia; for
for improving the swamp landa at Nortolk
Navy Yard; for improving Cape Fear River;
for public buildings at Atlanta, Georgia;
reviving certain Southern posiroads; remov?
ing obstructions to commerce at Louisville;
repealing the duty on printing material; Im?
proving the Roanoke River. The bill allow?
ing criminal d?fendante to testily In their own
behalf at their own request, with the proviso
that their failure shah not be construed as
evidence of guilt, was passed by a vote of one
hundred and forty-three yeas to forty-three
nays. The resolution giving a certain woman
i hearing at the bar of the House was reject
id by a vote of eighty-six to ninety-five.
iTonnsr, ol Georgia, offered a resolution In?
structing the judiciary committee to report
i bill removing the political disabilities from
ill who bad applied. Adopted. A resolution
n8trucllng the committee on ways and means
:o report a bill repealing ihe tariff on tea and
:offee was adopted by a vote of one hundred
ind forty to thirty-seven.
ALEXIS IN NEW ORLEANS.
NEW ORLEANS, February 12.
The Ducal party have arrived. The weather
oromises to be favorable tor Mardi Gras. The
lotels are crowded. Alexis goes to the opera
THE FUNERAL OF ARCHBISHOP
BALTIMORE, February 12.
Archbishop Spalding's obsequies were very
mposing and Immense. Several delegations
>f colored Catholics from a distance participat
?d in the ceremonies.
THE WEATHER THIS DAT.
WASHINGTON, D. C., February 12.
The low baremeter at H?tteras will proba
?ly move northeastward away from the coast,
pith northeast winds and threatening weath
?r, extending to the New Eogland coast on
Tuesday. The low barometer lo the Missouri
Valley will extend eastward over Illinois, with
ncreaslug northeast winds on the upper
Lakes, and southwest winds and threatening
weather from the Ohio Valley to Texas. Dan
rerous winds are not anticipated for Monday
light except on the upper Lakes.
kTesterday'a Weather Reports of the
Signal Service, U. S. A.-4.47 P, BI.,
Salves ton, Tex.,
i ey West, Fla.,
inox ville, Tenn.
Hem puis. Tenn..
ia van :i ah.
2 J. 94
NOTB.-The weather reriort dated 7.47 O'CIOOK,
?his morning, will be posted in the rooms ol the
?namber ol commerce at 10 o*clock A. M., and,
.ogeiber with the weather chart, maj (by the
?ourteay of the Chamber) be examined by ship
nastera at any time daring the day.
THE LONDON WAR CLOUD.
REPORTED ASSASSINATION OF LORD
Bismarck Does Not Intervene-The Ef?
fect on the United State* Loan-Bout,
well Can Walt.
LONDON, February 12.
The report that Bismarck proposed to medi?
ate between Great Britain and the United
States is unfounded.
It ls reported that Lord Mayo, Governor
General of India, bas been assassinated by a
convict. The report affects securities.
WASHINGTON, February 12.
The treaty embrogllo has checked all efforts
to place the balance ot the new loan in Europe
on the market. ?Boutwell says it will soon
blow over and he can afford to walt.
NEW TOBE, February 12.
A Herald special from London reports that
Schenck has written to the English Govern?
ment protesting against Gladstone's language
In debate as an imputation upon the good faith
of the United States. The government will
probably answer in a more friendly spirit,
deprecating any diplomatic application to
words used in a heated debate.
A WARNING TO CARPET-BAG GOV?
Impeachment of Governor Retd, of
Florida - Ills Many Crimes - The
Unanimous Action of the House-His
Conditional Resignation Looked For.
TALLAHASSEE, February 8.
.The most unexpected event so far, at least,
as the general public and most of the politi?
cians were concerned, and one whose conse?
quences to the State cannot yet be accurately
estimated, was the impeachment of Governor
Reed, which took place yesterday; and which
was carried by the unanimous vote of the As?
The Assembly met as 'usual, about ten
o'clock, iorty-elghl members out of the fifty
three comprising the Assembly, being In their
seats. About eleven o'clock, the special com?
mittee, appointed lo investigate the sale of
the Pensacola and Gulf Railroad and other
matters, consisting of .Messrs. Cessna, of Ala
chua, Gillis, of Putnam, Johason, of Jefferson,
Osgood, of Madison, and Duke, of Columbia,
announced through its chairman, that the
committee was ready to report, and Mr. Duke
proceeded to read a report covering fifty-five
pages of foolscap.
This report stated In substance that, In the
opinion of the committee, the sale of the
Pensacola and Gulf Railroad was illegal by
reason of the irregular and unauthorized pro?
ceedings of the trustees of the internal Im?
provement fund at the time of the sale. The
committee then proceeded to investigate the
conduct of Governor Reed In connection with
this road after Its transier to the Jacksonville.
Pensacola and Mobile Railroad Company and
after a very voluminous synopsis of the evi?
dence, sum up their conclusions and charges
"Your committee charge bim (Reed) with a
violation of law, In the immense over issue of
bonds upon a railroad not yet constructed.
"His violation of law In issuing one million
of bonds for the purchase of the Florida, At?
lantic and Gulf Central Railroad.
"His violation of law In conspiring in a frand
In the Issue of bonds to the Jacksonville, Pen?
sacola and Mobile Railroad Company, with full
notice of the fraudulent title or the road and
of the lien existing upon it.
"His violation ol law in obtaining the sum
ol $3600 by corrupt Influence, and attempting
to obtain $223,000 of the proceeds ot the sale of
"Ills violation ol law in attempting to Influ?
ence a Judicial officer of the State In exercise
ot his Judicial functions In connection with
"His violation of law In receiving the sum
of $10,000 to control his official conduct in the
matter of a cc ni rac t for Internal improvement
The conmittee closes Its report as follows:
"Your committee now close what to them
has been an irksome yet an Invaluable task,
and In full consideration of all the facts in
possession of the committee-of the future
security and safely of the State-and of our
own deep sense of accountability, your com?
mittee unanimously recommend that Harrison
Reed, Governor, be Impeached for high
crimes and misdemeanors and Incompetency
The reading of this report created the most
intense excitement on the floor and in the
lobby, and as soon as lt was concluded and its
adoption moved, Mr. Graham, ol' Manatee,
took the floor and spoke at some length in
favor of postponing action on the report.
Scott, of Duval, Wyatt, of Leon, and one or
two others taking the same course. Judge
Gillis, of Putnam, made a etrong speech in
favor oi immediate action, and was supported
by Duke, of Columbia, Osgood, of Madison,
Boyd, of Nassau, and Armstrong,-of Columbia.
Atter about an hour spent In debate, the mo?
tion to adopt the report was put to vote and
was carried almost unanimously, only one
vote (Crane, of Monroe,) being recorded in
the negative, and that vate being subsequent?
Mr. Cessna, of Al ach tia, immediately offered
a resolution of Impeachment, and the question
being called for, the previous question was
ordered and every member voted "aye." Mr.
Cessna then moved to reconsider and lo lay
the motion to reconsider on the table, and this
motion was also carried by a unanimous vote.
A committee (Mr. Cessna, chairman,) was
then appointed to draw up articles of Impeach?
ment and present the same to tho Senate, and
the Assembly then adjourned.
While these proceedings, were occupying
the Assembly, the Senate, unconscious of what
was taking place, adjouned to four o'clock in
the afternoon. At four o'clock the Senate mer,
several prominent Democratic leaders being
conspicuous on the floor, and as soon as the
roll was called, Mr. Henderson moved to ad?
journ to four o'clock Saturday morning, which
motion was carried by a vote of twelve to
seven, Messrs, Billings and Pearce voting with
the Democrats in favor of adjournment.
The cause of this Budden adjournment was
the utter bewilderment ol ihe Democratic
senators and their Inability to understand the
events of the morning. They therefore de?
sired time in order to investigate the situation
and decide upon their course. There appears
to be no question that the Governor's Impeach?
ment was not the result of any political combi?
nations, but was the almost spontaneous action
of tlie Assembly irrespective of political con?
siderations, and forced upon them by what ap?
peared to be the overwhelming torce of the
report. This is apparent from the fact that
both Democrats and Republicans voled to?
gether, and from the further fact that the re?
sult was utterly unexpected to the Democratic
leaders outside and In opposition to their polit?
The excitement is gradually subsiding and
matters will now probably take their natural
course. Il ls reported to-night that Governor
Reed will probably resign, conditionally, but
wbetlier inls report ls true or not on Saturday
next L'eutenant-Governor Day will probably
be Inaugurated as acting Governor of the State.
A STEAMBOAT DISASTER.
NEW ORLEANS, February 12.
The steamer Sabine, from O ii ac nil a River,
with sixteen hundred bales of colton, collided
with the steamer Richmond at Twelve Mile
Point early this morning. The Sabine sank
in a few minutes. The Richmond was con?
siderably damaged, but rendered all assist?
ance possible, taking all the passengers and
some three hundred bales of cotton on' the
3ablne, which vessel will probably prove a
total loss. 1 he Richmond was so badly dam?
aged that she liad to return to this city for
SPARKS FROM THE WIRES.
-Stokes's trial begun yesterday.
-Peterson's oil cloth factory at Philadelphia
was burned yesterday. Loss $100,000.
-The Moro Castle nearly foundered on the
trip to New York. She used eighty boxes ol
sugar to make steam.
_The depositors in the Guardian Savings
Bank ol New York will be paid In full.
THE GENERAL ASSEMBLY.
Proceeding* of Yesterday.- Senators
Sawyer and Robertson Respectfully
Requested to Resign.
[SPECIAL TELEGRAM TO TUB NB WS.]
COLUMBIA, February 12.
The Senate passed the bill to amend the
charter of Hamburg; a'so, the bill to incor?
porate the Town o? Lewisvllle. Beckhan in
trod need a bill to Incorporate the Charleston
Joint Stock Company for the benefit of the
State Orphan Asylum.
The House passed bills to establish a public
road in Barnwell and Orangebarg; to repeal
the act for the appointment of a land commis?
sioner; to change the name of Wm. N/athl.
Martin; to Incorporate the Che raw Fire Com?
pany; to authorize the reissue ot State stock;
to compensate Judge Green for extra services;
to pay costs on lands purchased by the State
at delinquent tax sa'.es; to incorporate the
Brotherly Association o? Charleston, and to
change the location of Armstrong's Ford Boad
in Tork County.
A r?solution was adopted by a vote o? sev?
enty yeas to nine nays demanding the im?
mediate resignation of United States Senators
Sawyer and Robertson, on account of their
having used their influence and cast their
votes against Sumner's civil rights amend?
ment to the amnesty bill, which was deleated
last week in the United States Senate.
THE BLOCKADED TRAVELLERS.
SALT LAKE. February 12.
Urgent applications for food come from the
blockaded trains. Much sickness among the
passengers ls reported.
ANOTHER RAILROAD ACCIDENT.
CINCINNATI, February 12.
Two freight trains came into collision six
miles east of Mitchell, Indiana. A passenger
train ran into the wreck, and lt ls reported
that several persons were killed.
A CARD OE THANKS.
At a meeting of the congregation of the
German Evangelical Lutheran Church, Hasel
street, on Sunday, Februar y ll, the following
resolutions passed unanimonsly:
1. Resolved, That the thanks o? the congre?
gation are doe, and they are hereby respect?
fully tendered, to Messrs. Henry E. Sharp &
Son, of No. 147 East Twenty-second street,
New Tork, for the honorable and faithful man?
ner In which they have fulfilled the contract
for stained glass, they having furnished our
church tastefully and beautifully with elabor?
ate works of art, even exceeding our expecta?
tions; and, moreover, for a very moderate
price, considering the mass of work done.
2. That we cordially recommend Messrs.
Sharp & Son to all who may have to transact
business with them, In their line, as gentle?
men o? honor and trust, who can be relied
upon with full confidence.
3. That these resolutions be communicated
In writing to the Messrs. Sharp by our secre?
tary, and that the papera ot Jharieston be
kindly requested to publish them.
From the minutes.
Secretary German Evangelical Lutheran
THE PACIFIC FERTILIZERS.
CHARLESTON, December 19, 1871.
TO THE EDITOR CF TBE NEWS.
To confirm public confidence In the Guanos
offered fur sale by me, it baa always been my
desire to avail myself of the best scientific
ability In order to give the planter every possi?
ble guarantee as to their standard. My store?
houses in the city, as well as the Pacific Guano
Works at Blkersvllle, have ever been open for
inspection; and although the latter have been
under the personal supervision of Dr. St. Ju?
lien Ravenel, yet with his entire approval our
stock has yearly been examined by Professor
Shepard and bis endoraements of their high
standard received. I enclose herewith an ex?
tract from his report Just taken. The analyses
are on file at my office. J. N. ROBSON,
No. 68 East Bay, and
Nos. 1 and 2 Atlantic Wharf.
LABORATORY OF THE MEDICAL COLLEGE, ) |
QUEEN STREET, V
CHABLESTON, December 16,1871. )
"In conclusion 1 would state that the three
articles (namely, two samples of Pacific Guano
and one sample of Com. Acid Phosphate,) ex?
amined are fully up to the old standard of the
"Very respectfully yours,
febl3-5D*o "CHAS. U. SHEPARD, Jr."
Hotel Arrivals-February li.
Chas. Gordon, Savannah; S. Lee, H. A. Gun?
ther, New York; Mr. and Mrs. J. W. Sellers,
Mr. and Mrs. R. H. Zimmerman, Mrs. A. Zim?
merman and child, St Matthew's; George W.
Irwin, Columbia; LeRoy Wilson, A. H. Brab?
ham, Buford's Bridge.
Frank B. Evans, Philadelphia; T. J. Thomp?
son and wife, New Orleans; Geo. E. Watkins, !
wife and child, Peter R. Scott, Wm. Stuart,
M?ES Emma Stuart, New York City; $W. C. Tal?
bot, Troy, N. Y.; Jas. Hunter, B. G. HolmeB, ,
E. D. Lacy, New York; D. J. T. McFarland
and lady, Mrs. V. Aldrige, Mrs. C. A. Doolit?
tle, Miss Helli, A. F. Butler and lady, Savan?
nah; F. Maxwell, P. J. Mcphillips, New York;
S. C. Millett and wife, Port Royal; F. S. Le?
gare, John's Island; J.D. Dunlap, J. T. Hay,
Camden; Geo. D. Sellers and lady, St. Mat?
thews; B. W. Pugh, New York; G. S. Berg, C.
F. Jackson, Columbia; T. H. Lemmerman,
wife and two daughters and son, St. Mat?
thew's; W. D. Woods, N. S. Gibson, Geo. E. Mc?
Call, T, P. Ll de, E. W. Charles, Darlington;
Jno. H. James and wife, H. M. Cotingham and
wife, Atlanta; Theodore F. Malloy, Cherawt
W. Clyburn, Camden; H. Covington, E. Allen,
South Carolina; J. J. Frierson, Mrs. J. J. Frier
son, Clarendon: R. S. Agnew, Aiken; Misa
CH I CAC Or*
MADISON AND CANAL STREETS,
Completed and furnished with all mod?
ern improvements since the Great Fire I
Flist-class accommodations for two
hundred Guests I Our present location
makes the SHERMAN HOUSE the most
desirable Hotel in Chicago, for both the
business and pleasure-seeking travel?
ler, it being in the very heart of the city
and easy of access from all the Depots.
GAGE,! BROS. & RICE,
_ Marmh'. -
cBISOLM-BEE.-On the 8th instant, by .Hw
Rev. W. 0. Prentiss, LATHENS N. CHISC-LX and
V.ILERIA NORTH, y oungea t daughter ot Winiam
0. Bee, Esq. ' . . .
BOLLES.-Died, on board Beamer Dictator,
February ii, 1872, while on his passage home
from Florida, J ssas H. "BOLL ss, aged 43 y ears and
ps~ THE RELATIVES AND . FRIENDS
of the family are Invited to attend th? Fanerai
Service at his late residence, Ashton street, Gads?
den's Green, THIS AFTKROOON, . at hair-past 8
o'cuwk. . febt?*
THE OFFICERS AND . MEMBERS,
of Tyre Lodge, Na 186, are Invited to assemble at
Holme&'s Lyceum, Tms AVTSBMOON, at 2 o'clock,
to pay the last tribute of respect to their deceased
Brother, JESSE H. BOLLES.
By order W. M. M. GREENLAND,
febia ... secretary.
pm* CONSIGNEES PER STEAMSHIP
SOOTH CAROLINA, from New York, are hereby
notified that she will discharge cargo THIS DAT,
18th Instant, at Pier No. 2, Union Wharves. Goods
uncalled for at sunset win remain on the wharf
at owner's risk and **y*nn*.
rebia-i WM. A. COURTENAY, Agent.' '
55 CONSIGNEES PER ' STEAMSHIP
SEA GULL, from Baltimore, are hereby notified
that she la THIS DAT discharging cargo at
Pier No. i, Union Wharves. All goods -not taken
array at sunset will remain on the wharf a t con?
signees' risk. MORDECAI Ss CO.,
~ pm*- CONSIGNEES PER COMMERCIAL
Une Schooner M. A. TYLER, Tyler, Master, rr cm
New York, are hereby notified that she is Tins
DAT d l s c h arg in g at Pier Nan Central Wharf. AH
goods on the wharf at sunset will be stored at
owners' expense and risk. No claims allowed
after goods leave the wharf.
ELF. BAKER ACO, . .
pm* FRESH VACCINE MATTER,
TAKEN FROM THE ARM,
FOB SALI AT
B U RN H AM'S DRUG STO?E, ;
No. 421 RING STREET,
feb 12-* CHARLESTON, B. C.
pf ANNUAL MEETING OF THE
SOUTH CARO LISA RAILROAD COMPANY, AND
OF THE SOUTHWESTERN RAILROAD BANK.
Shareholders having proxies Intended to be naed
nt the Meeting to be held on the 13 th and 14th
instants, are requested to lodge them with either'
nr the following Committee, who will b, fe at-^
tendanoe at the Bank Hail during the mobongJot
the 18th instant for the parp?se of verifying prox?
ies on the following djy. during the Election,
other duties may prevent the Committee'from
examining batches of proxies before the boor for
closing the polls.
JOHN Y. STOCK, ) Committee
A. W. BURNETT, J on
L. c. HENDRICKS,) Proxies.
pm* THE CHARLESTON CHARITA
BLE ASSOCIATION, FOR THE BENEFIT OF TM
FREE SCHOOL FUND.-0FFIGAL , RAFFLEB
CLASS NO. 845-MORNING. - ?
CLASS No. 840-EVENING.
Aa witness oar hand at Charleston this 12th day
or February, 1872. FENN PECK,
pm* ST. JOSEPH AND DENVER
CITY RAILROAD COMPANY.
EXECUTIVE OFFICE, NO. 81 NASSAU STOUT,
NBW YORK, February 1,1872.
The Coupons and registered lu ter est doe Feb*
mary 15,1872, on the First Mortgage Eight Per
Cent. (8 p. 0.) Gold Bonds (E. D.) and the Eight
Per Cent. (8 p. c.) Gold First Mortgage sinking
Fond Land Grant Bends (W. D.,) of the St. Joseph
and Denver City Railroad Company win be paid
at the office of the Farmers' Lom and Trust
Company of the City of New York, npon presenta?
tion and demand on and after that date, Free of
Tax. FRANCIS A COFFIN,
feb5-12 _ gt. J.A D.C. R.B.Co.
pm* 0 N MAR RIAGE.tsX
Happy relief for Yoong Men from' the effects
of Errors and Abases in early life. Manhood re?
stored. Nervous debility cared. Impedimenta
to Marriage removed. New method of treat,
ment. New and remarkable remedies. Book*
and circulara sent free, lu sealed envelopes. Ad*
dress HOWARD ASSOCIATION, Na 2 South
Ninth street. Philadelphia. Pa._octia
iUnnicipal Notices. ..
"IsrTAXES.-THE TAXPAYERS OP
the Seventh District of Charleston county, oom*
prising Edlato, John's, Wadmalaw, James Island
and St. Andre w's Parish, are hereby notified that
the Tax Books will be In the city, at the Fire?
proof Building, February 16, for the Collection Of
state, county, Poll and School Taxes, for the year
1871, and wul remain open 16th, 17th, 20th and
lilst, closing 22d.
N.B.-The delinquent Tay pay era of 1809 Will
Have no farther time allowed from that date.
WM. H. W. GRAY,
Coportntrgtiipg ano flliBBolnticrif.
J"~MTWEEKXETIS THIS DAY AD
. MITTED a member or eur Firm, to dato
irom the 1st instant, under the Firm name of
UURDAUGH, MATTH EWE S 4 CO.
febia-6_MUBDAUOH A- MATTHEWS.
nave this day admitted Mr. J. H. L. 8CHU
CUERT as a member of our Firm, to date from
January 1, 1872. JEFFORDS A CO.
Charleston, February 9. 1872._feblQ-3
THE STATE OF SOUTH CAROLINA,
CHARLESTON COUNTY.-Certificate or Lim*
lted Partnership between THEODORE G. BOAG,
or the City of Charleston, In the O nnty and
Sta e aforesaid, and ANDREW M. JACKSON, of
Augusta, in the State or Georgia.
To all whom these Presents shall come they are
to certify that agreeably to the act of the Gene?
ral Assembly, or the State aforesaid, entitled An
Act to authorize the formation of Limited Part?
nerships, passed on the 2uth day of December,
1837; aaa another, entitled An Act to extend tba
duration of An Act authorizing t&e formation ol
Limited Partnerships, passed on the 18th day of
December. 1840; and another Act extending the
same until repealed, passed on the 20th day of
December, I860, THEODORE G. BOAG, or the
City ol Charleston, In the County and State afore
Bald, and ANDREW M. JACKSON, of Augusta, in
the ?tate or Georgia, have forme i a Limited Part?
nership, as follows:
First. The Partnership ls to be conducted under
the name or firm of THEODORE G. BOAG.
;-econd. The general nature of the business In?
tended to be transacted ls that of a General Fac?
to: age and Commission Business, in the said City
Third. ANDREW M. JACKSON, residing In the
i Itv ol Angosta, in tho State of Georgia, ls the
Special Partner, and THEODORE G. BOAG, re?
siding in the city charleston and State aforesaid,
ls the General Partner. " i
Fourth. The said ANDREW M. JACKSON, tte
Special Partner, has contributed in cash the roll
and Just sum of Five'thousand Dollars to tte
Fifth. The said Partnership to commence on
the twenty-foorth day or January, 1872. and win
terminate on the first day of January, MW.
in witness whereof the said rujntnj*T
hereunto set their bands and sods, a
this, the twenty-fourth ^?^?A ??T
ATM. JACKSON. IL.B.J
Slgned.'sealed and delivered m ihe Pre*ecceo:
R. STDPBVBA, E. M. WHITING. jA025-3d