250 A. L. Bishop — The State Works of Pennsylvania. 



Before tliis gratuitous disposal had been arranged, the governor 

 of the state, by Act of July 27th, 1842, was authorized to receive 

 bids for any or all of the various sections of the canals and rail- 

 ways.* An offer of $3,000,000 for the Philadelphia and Columbia 

 railroad Avith all its fixtures, and of $10,000 for the outlet lock at 

 Portsmouth were the only ones received. Neither of these bids 

 was considered. 



When the legislature met in 1844, it was clear that public senti- 

 ment regarding the works was still unchanged. Accordingly on 

 April 29, an Act was passedf embodying a plan to dispose of the 

 trunk line from Philadelphia to Pittsburg for $20,000,000. A 

 company capitalized at this amount was to be incorporated to take 

 over the works. It was to be called ''The Pennsylvania Canal and 

 Railroad Company." There were to be 200,000 shares having the 

 par value of $100 each. Commissioners were named to sell 

 the stocks at pviblic auction at the Merchants' Exchange in Phil- 

 adelphia. Purchasers might pay the amounts of their subscriptions 

 either in lawful money or in state stocks. 



The thirtieth section of the act provided that, at the next general 

 election, an opportunity should be given to the qualified voters of 

 the state to register their wishes regarding the proposition to sell 

 the main line on the conditions mentioned above. On the 8th 

 of October, 1844, the election was held and a majority of 25,150$ 

 was given for the sale. Accordingly the commissioners advertised a 

 sale of the stock of the proposed company to commence on January 

 20th, 1845. 'No subscriptions were received at that time, however, 

 and a continuation of the sale at subsequent dates resulted in no 

 better success. Doubtless the high price fixed for the main line was 

 the cause. § That the people appreciated this fact is shown by 

 the numerous petitions at once forwarded to the legislature, which 

 was then in session, praying that the price be reduced to a more 

 inviting figure. These were referred to the house committee on 

 ways and means. The latter reported against any further legisla- 

 tive action at that time. 1 1 It was felt bv the committee that the 



* LaAvs of Pennsylvania, 1842, p. 447. 



fLaws of Pennsylvania, 1844, p. 486. — "An Act to reduce the state debt 

 and to incorporate The Pennsylvania Canal and Railroad Company." 



I The votes stood as follows: — 149,748 for the sale and 124,598 against it. 

 See J. H. Rep., 1847, II, p. 266. 



§ See J. H. Rep., 1845, II, p. 545. 



II The report is contained in J. H. Rep., 1845, II, pp. 544-47. 



