■ ; / ■';.:Í^. 'í.,,-■ r .j, r ■ -.V ^ ;v. . -■- l'".-' > -^::- í.- V-. . ■./■■■"■''v.- '"■'■ ■ '^.v' ' V. ', %■■„■ ' ■ ■''■ '.,. >■-! Lake Erie and Lake Michigan Transit Ship C.;nal Compan; . 1857. •- '•• •* A"A' •", rV v- > A' A'-. - ■ v.; ■ ■r HE 3U .li6 h. f ' .;• ' V ' ..•7 ' X ,'n' „p,í7 7;V\777:7'--.-, 7\;7r a ''■' 7 ' . 7'E v'7/'_:'7_r. ..;,A ;■■■ '.7. ''7:77/,0iit77^a.;7 77 :v- v ' >7 , :t7>7/7> "' ■ ■' i • LME ERIE MB LISE MICIÍIB1X TdFg.^SO'iSIl' SHIP GAHAL GOMPAHT. Capital 825,000,000, FOR THF BENEFIT OF COMMERCE OF I HE UNITED STATI.S. A Stockholder of aoy Stale heccnies aa lacorperaior. COPY OF PROCEEDINGS AND OF THE BILL GRANTED BY THE LEGISLATURE OF THE STATE OF NEW YORK, APRIL 15, 1857. COMMISSIONERS: Theodore D. Barton, William H. Hcott, William C. Foster, Peter Emslie, and Milton Ingersoll. BUFFAI.O : LIRK ERIE J.\D LIRE Mlflíiíiííí SHIP CANAL COMPANY. Capital $25,000.000, POlt THi-: BENKi-IT OF COMMF.KOPi OF TTÏF, UNITED STATES. A Stockholder of any State becomes an Incorporator. COPY OK PilOCKKDlNGS AND OF THE HILL OUANTED FY THE LEGISLATURE OF THE STATE OF NEW YORK, A.PKIL 15, 1857. OO.VÍM ISS XO N P'-H S: Thiiodore D. Barton, Wiliiani H. toott, William C. Fo.stpr, Peter Emalie, and IVIiUon Ingersoll. One of the CoiiiinKsionei« of the Company having made a personal ex¬ amination aiong the eastern portion of the State of Michigan and as far South as Toledo, Ohio, for tlie purpose of coiiecting facts relative to the feasibility of the cnterprize; is met by gentlemen of character .md intelli¬ gence as wtdl as Engineers of experience, who not only assure us of the en tire feasibility of the project but also an undivided ettort to procure from either slate a favorable, bill as well as means in aid of the speedv com¬ pletion of a wcirk so desirable. In view of the inagtjitude and impojtancc of the subject, we have eon- concluded to publish the following, as a convenient reference" for all who wish to take an interest in the cntcrprize. Proin])t attention will be given to all business communications addressed ite W. H. Scott, or to the (vrmmissioner-s of said f'ornpanv -at Buffalo, Y. I PETITION^ 'I'O 'J'lIE Legislature of the State of New \ork. Your Petitioners, inlifibitants of the State of New York, rospcelfiillr ask your Honorable Body to incorporate a Company to bo called "The Lake Erie and Lake Michigan Transit Ship Canal Company," with a capital of Sixteen Millions Dollars, with the privilege of increasing the Bainc to Twon- ty-Eive Millions Dollars, for the pnr])Oso of eonstrmcting a Ship Canal r.f suitable d'imensions for Lake Commerce, at some suitable point, to lie ascertained by your petitioners, connecting the waters of La k-é Erie with the waters of Lake Michigair. Your petitioners would ves]ioetfu!lv represent that at the pjrcscnt time, there are extraordinary efforts being made on the part of various persons and communities, to obtain and secure the great carrying trade of the South West, through other than the channel through which it has in years past been carried to tlic Atlantic cities, for a market, v,bo now seek to divert the same from the Erie Canal at the north and south, thereby lessening tlio income and importance of the Erie Canal to the State of Now York, also doing great injury to the forwarding interest of said Canal, the problem of the course of trade and eomracrce of the rich, fertile and grow¬ ing southwestern states has long since been solved in the mind of intelligent! Merchants; and in view of climate and seasons, a glance at a map is all that is necessary to convince all that it must be carried tbrough the North¬ ern in contra-distinction, to the Southern, or New Orleans Route. Hero arises the question, "shall New York, the original projector of this Channel exert herself to retain and increase this carrying trade fraught with so much good, or will she supinely remain inactive and let Pennsylvania ar.d her northern neighbors take from her tliis great boon ?" Wo trust not,, when we consider not only the interests of our own State, but that of tl«;' 4 vitóle Union nie vitally interested in tlie project hereby proposed, whleh project shortens the distance, cheapens transportation and the safety of the route, vill command the Commerce of that rast region of country lying north and west of a line drawn along the south bounds of Kenl.uckv, Missouri and Kansas, will command and secure for the New York State Route the carrying trade of Michigan, Ohio, Indiana, Kentucky, Illinois, Wisconsin, Iowa, Missouri, Minnesota, Kansas, Nebraska and the other Western Territories during their present and future prosperous growth and increase, which your petitioners are of opinion will double once in ten years for the next one hundred years. To the commerce generally on our inland seas, it would cut off for all vessels navigating between Buffalo and Chicago, or any port on Lake Michigan being south of Sheboygan from six to seven hundred and fifty miles of the most dangerous and expensive navigation in existence, and would substitute from one hundred and sixty-five, to two hundred miles of cheap, safe and expeditious navigation and will save to steam vessels, each trip and back from Buffalo, eight to ten days, and to sail vessels, sixteen to eighteen days under ordinary circumstances, thus avoiding the detention and expenses of towing, not only over the St. Clair flats, but frequently the entire distance from Lake Erie to Lake Huron, but enable the mariner to »void the great dangers incident to the northern waters during the boist- Ï0UB season of the year, the extent of which the history of the past year to plainly showcth. By shortening the distance, saving of time and expense, insurance and interest on capital invested, it will also cheapen freights between Buffalo and ports on Lake Michigan, from thirty-three to fifty per cent, besides giv¬ ing shippers a shorter and safer route. This enterprise is designed to give us a domestic improvement, mainly for the citizens of the United State» and to secure to them the advantage to be derived from the same. It will effectually give to our citizens the key to the c.árrying trade of their vast western region, and forever put to rest the question in relation to competition from a foreign nation. In view of the importance of the subject and the accomplishment of this great object. The attention of your Honorable Body is hereby called to the following statistic facts as near as Can be ascertained. The number of American vessels arriving at the Port of Buffalo during the fiscal year of 1866, was, - 3,404 Aggregate Tonage, - . - 1,469,408 Number of Foreign vessels, - - - VlS Aggregate Tonage, . _ . . 71,039 5 Amount of Grain received at Buffalo, reducing flour to wheat at five bushels per barrel, is in bushels, • ^6,600,000 At Wheeling, Pittsburgh, Dunkirk and Suspension Bridge, 6,244,000 At Oswego, Ogdensburgh, Montreal, &c, - - 18,266,000 Total at all points, - - - 51,000,000 Of the amount received at Oswego &c., there was 3,409,471 Bushels received from Canada. Leaving the amount that passed through the Weiland Canal in Bushels, - - , - - - 14,846,529 And at the single point of the city of Chicago, was shipped during the current year, in bushels of Grain, - - 21,583,221 And the total receipts of said city during the same time in bushels was over, - . - . 24,500,000 In view of such facts what are we to anticipate in reference to the great commerce of the West, we therefore ask your Honorable Body to Incor¬ porate your Petitioners. THEODORE D. BARTON, WILLIAM H SCOTT, WILLIAM C. FOSTER, PETER EMSLIE, MILTON INGERSOLL, And their associates, with suitable rights, privileges and restrictions to be known and designated as the "Lake Erie and Lake Michigan Transit Ship Canal Company" for the purpose herein set forth, and your Petititioners as in duty bound will ever pray. Dated at Buffalo, N. Y., February 25, 1857. Signed by THEODORE D. BARTON, WILLIAM H. SCOTT, WILLIAM C. FOSTER, PETER EMSLIE, and MILTON INGERSOLL. A-îsr ^CT To Incorporate the "Lake Erie and Lake Michigan Transit Ship Canal Company." PASSED A PEI I. 15th, 18 57. 2'he People of the State of Nea York Represented in the Senate an Assembly, do enact as follows : Section 1. Poter Einslie, William H. Scott, William C. Foster, Milton Ingersoll and Theodore D. Barton, of the City of Buffalo and State of New York, and their Associates, and all other persons who are or hereafter may be holders of the Stock hereinafter mentioned, are hereby constituted a body corporate, b}' the name of the "Lake Erie and Lake Michigan Transit Ship Canal Compan}'," for the purpose of constructing a Ship Canal of suitable capacity to connect the navigable waters of Lake Erie with the navigable waters of Lake Michigan, at the most desirable points, to be ascertained bv said Company by actual survey or otherwi.se, when they ®hall have procured the proper authority for so doing; all the necessary power is hereby granted to said corporation, and all contracts shall be made under the signature of the President and Secretary of said Company with the corporate seal affixed. § 2. The Capital Stock of said Corporation shall be Sixteen Million Dollars, and is to be divided into .shares of one hundred dollars each. The Corporation may commence operation when two million dollars shall have been subscribed and the sum of twenty per cent, on the amount of each share subscribed for, paid in, with liberty of increasing the said Capital Stock to twenty-five million dollars, and the said company shall commence operations, and expend in said work the sum of two millions of dollars in five years from the passage of this act, or the act shall be void, § 3. Peter Emslie, William H. Scott, William C. Foster, Milton Inger- Roll and Theodore D. Barton, shall be Commissioners to receive subscrip¬ tion for such capital stock, at such times and places in the city of Buffalo, or oiKewhere, as they shall appoint, by giving ten days public notice thereof in one or more iii.'wspajv>rs pnblislie'l in said city, or at, or near the locality •) w heio • 1 í Lookb of bhid Company aro Co bo opened for liiAi pucjjoee udCíJ iLt whole capital stock shall has'e been Bubscribed under such regulations as said commissioners or the board of directors of the corporation shall adopt. § 4. As soon as two millions dollars shall have been subscribed, and twenty per cent, on each share so subscribed shall have been paid into said commissioners; the said commissioners shall call a meeting of the Stock¬ holders, by giving ten days public notice thereof in one or more newspa¬ pers published in the city of Buffalo, and said stockholdei-s shall elect bv ballot at such meeting or at any subsequent meeting, thirteen directors, being stockholders and citizens of the United States, to hold their office for one year and until others are duly elected to fill any vacancy that may oc¬ cur to manage and conduct the afiairs, concerns and business of the cor¬ poration; each stockholder at such election shall be entitled to one vote for each share he shall hold at the time of such election and the election shall be made by such of the stockholders as shall attend for that purpose either in person or by proxy, and the directors of the said corporation, except for the first year, shall be annually elected at such time and place as shall bo dircted by the by-laws of said corporation. §5. The office for the transaction of the business of the company, and one of the places for transfer of stocks of said company shall be in the city of Buffalo. §6. The Board of Directors shall consist of thirteen stockholders and any seven directors of said Board, shall form a quorum for the transaction of alt the business of said corporation. §7. It shall be lawful for the directors of the corporation to call in and demand from the stockholdere respectively, all such sums of money by them subscribed for at such times and in such payments or installments as the directors shall deem proper, under the penalty of foifeiting the shares of stock subscribed for or by them held and all previous payments made thereon, if payments shall not be made by the said stockholders within sixty days after personal demand, or notice requiring such payments shall have been published, for six successive weeks,in two or more newspapers publishe