A. L. Bishop — The State WorJcs of Pennsylvania. 249 



will be directed to the movement itself. Tlie actual result of the 

 public sentiment was that the legislature at once undertook to dis- 

 pose of the state works. The Erie extension soon passed into pri- 

 vate hands, and that too without any monetary consideration. The 

 transfer Avas provided for by "An Act to incorporate the Erie 

 Canal Company," approved on the 7th of March, 1843. It was 

 authorized that, upon the granting of letters patent to this com- 

 pany,* the uncompleted canal from Erie to the mouth of Beaver 

 river on the Ohio, also the French Creek feeder, should be vested 

 in the new corporation. It was further provided among other 

 things that the Beaver division, which extended from ISTewcastle to 

 the Ohio river, should not be surrendered until the line from New- 

 castle to Erie was completed and in actual use throughout its 

 whole length. ^Accordingly the company undertook immediately the 

 work of completion. Upwards of $575,000 were expended in 

 repairs, renewals and extensions. f. On December 2d, 1844, a boat 

 was passed through the outlet lock into the basin at Erie after 

 traversing the entire length of the canal from the Ohio river. The 

 terms of the act of incorporation having thus been fully complied 

 with, the Beaver division was officially surrendered to the com- 

 pany on January 1st, 1845. :|: Apparently the transfer was not 

 opposed by any persons excepting the canal commissioners. § 



54,219 tons; in 1844, 308,025 tons; in 1845, 304,551 tons; in 1854, 1,100,526 

 tons. The amount of mereliandise which went to the western states over the 

 Erie canal was in 1837, 38,893 tons; in 1844, 37,335 tons; in 1845, 42,415 

 tons; in 1854, 261,752 tons. 



For a complete classified movement of east and west tonnage on the Erie 

 Canal see Poor, Manual of the Railroads of the United States, 1881, p. xv. 



"The Erie Canal C''ompany was capitalized at $500,000. Tliere were to 

 be 10,000 shares having a par value of $50 each. It was provided that 1,000 

 shares should be subscribed and paid for before letters patent should be 

 issued 'by the governor to the company. 



f See the compan;^''s reports in J. H. Rep., 1844 and 1845, II, pp. 119 and 

 231 respectively. 



X When the rest of the public works were disposed of the Erie Canal Com- 

 pany had paid no dividends to the stockholders. Bonds were issued in 1845.' 

 The interest payments were very irregular. In 1859, $556,715 interest was 

 overdue. See Poor, Railroads of the United States, I, p. 555. 



§ By Act of March 13th, 1845, the Wiconisco Canal Company was incor- 

 porated to take over the unfinished works of the Wiconisco section of the 

 state works. No monetary consideration seems to have been paid. The state 

 had expended upon this work before the transfer was made the sum of 

 $393,441. 



