﻿HYDROLOGY 
  OF 
  NEW 
  YORK 
  073 
  

  

  With 
  2625 
  net 
  horsepower 
  in 
  use 
  on 
  the 
  canal 
  proper, 
  and 
  

   3835 
  on 
  the 
  west 
  branch 
  of 
  Eighteenmile 
  creek, 
  the 
  total 
  actually 
  in 
  

   nse 
  at 
  Lockport, 
  and 
  dependent 
  on 
  Erie 
  canal 
  for 
  its 
  water 
  supply, 
  

   is 
  6460 
  net 
  horsepower. 
  

  

  No 
  statements 
  as 
  to 
  the 
  value 
  of 
  the 
  annual 
  product 
  of 
  the 
  

   manufacturing 
  establishments 
  on 
  the 
  raceways 
  of 
  the 
  Lockport 
  

   Hydraulic 
  Power 
  Company 
  have 
  been 
  given. 
  It 
  m 
  therefore 
  im- 
  

   possible 
  to> 
  state 
  accurately 
  the 
  value 
  of 
  the 
  total 
  annual 
  product 
  

   at 
  Lockport. 
  As 
  several 
  of 
  the 
  establishments 
  there 
  are 
  very 
  

   extensive, 
  including 
  the 
  Holly 
  Manufacturing 
  Company, 
  it 
  may 
  

   be 
  assumed 
  that 
  the 
  annual 
  output 
  of 
  this 
  portion 
  of 
  the 
  Lockport 
  

   manufactories 
  has 
  a 
  value, 
  at 
  least, 
  of 
  f 
  1,000,000 
  ; 
  hence 
  we 
  reach 
  

   a 
  total 
  value 
  of 
  the 
  annual 
  product 
  for 
  the 
  whole 
  city 
  of 
  about 
  

   $3,000,000. 
  

  

  The 
  annual 
  rental 
  paid 
  to 
  the 
  State, 
  under 
  the 
  terms 
  of 
  the 
  

   original 
  lease, 
  is 
  only 
  $200. 
  At 
  first 
  sight 
  it 
  appears 
  that 
  there 
  

   is 
  here 
  a 
  most 
  marked 
  case 
  of 
  what 
  could 
  only 
  be 
  termed 
  blunder- 
  

   ing 
  on 
  the 
  part 
  of 
  State 
  officials, 
  although 
  on 
  analyzing 
  the 
  matter 
  

   it 
  is 
  found 
  that 
  this 
  extreme 
  view 
  is 
  hardly 
  correct. 
  In 
  the 
  first 
  

   plaice 
  it 
  must 
  be 
  remembered 
  that 
  this 
  lease 
  was 
  granted 
  not 
  only 
  

   by 
  authority 
  of 
  an 
  act 
  of 
  Legislature, 
  but 
  was 
  only 
  granted 
  after 
  

   a 
  public 
  auction: 
  had 
  been 
  held, 
  at 
  which 
  Messrs 
  Kennedy 
  and 
  

   Hatch 
  were 
  the 
  highest 
  bidders. 
  As 
  already 
  shown, 
  had 
  not 
  the 
  

   special 
  conditions 
  created 
  by 
  the 
  Erie 
  canal 
  existed 
  at 
  Lockport, 
  

   there 
  would, 
  in 
  all 
  probability, 
  have 
  been 
  no 
  thriving 
  city 
  at 
  that 
  

   point, 
  but 
  the 
  area 
  on 
  which 
  Lockport 
  now 
  stands 
  would 
  have 
  

   been 
  farming 
  land, 
  with 
  no 
  more 
  value 
  than 
  now 
  attaches 
  to 
  

   farming 
  lands 
  in 
  the 
  adjoining 
  township 
  of 
  Lockport. 
  

  

  In 
  order 
  to 
  show 
  the 
  results 
  of 
  this 
  lease, 
  at 
  $200 
  a 
  year, 
  a 
  

   study 
  has 
  been 
  made 
  of 
  the 
  growth 
  of 
  Lockport 
  from 
  the 
  year 
  

   1865, 
  when 
  Lockport 
  became 
  a 
  city, 
  to 
  1896. 
  From 
  such 
  study 
  

   it 
  appearis 
  that 
  the 
  valuation 
  of 
  the 
  city 
  hais 
  increased 
  from 
  less 
  

   than 
  $3,000,000 
  to 
  over 
  $6,700,000, 
  and 
  that 
  the 
  total 
  State 
  tax 
  

   collected 
  up 
  to 
  and 
  including 
  the 
  year 
  1896 
  has 
  amounted 
  to 
  over 
  

   half 
  a 
  million 
  dollars. 
  If 
  this 
  had 
  remained 
  a 
  farming 
  community 
  

   the 
  State 
  tax 
  would 
  probably 
  not 
  have 
  been 
  more 
  than 
  3 
  per 
  

   cent 
  of 
  this 
  amount. 
  Using 
  this 
  tax 
  return 
  as 
  a 
  basis, 
  it 
  has 
  

   been 
  computed 
  that 
  there 
  has 
  been 
  an 
  actual 
  increase 
  of 
  wealth 
  

  

  