Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1849-08-30
From The Cincinnati Chronicle.
SIudiaira CanaI.o

MEssEs. EDIToRs-I noticed some weeks since, an
editorial article in the LoDsviIle Journal IN reference
to the contemplated canal around the falls OF The DINO on
the Indiana side of the river which appears TO me re-
quires some comment.
II all astonishing that the citizens Of Louis
ville should throw every obstruction they can IN the way
of any further of the navigation of the Ohio
rysr around the allseDnyng they have, Tor so long
PERIOD the monopoly Of taxation to the commerce OF
the whole Ohio river, by means of the rickey concern
called The "LouisvIlle and Portland Canal IL Is not TO
be wondered that they sensitive in reference TO
a work, which when completed must inevitably cuTlail,
IL does not entirely destroy the enormous profits which
the stockholders in the work above referred have been
eeehing from the Of the Ohio river. Ii would
be curious but uninteresting enqsry-how much OF
The realized by the stockholders Of the "Lous
vile and Portland Cana-amountlng as per statement
of the Directors the LIST Of January, 1S46,
cling st OF January 1884, period of seventeen years
that The canal has been in operation to 95S 676 o.,
and deductng all expenses, leaving clear dividend
OOO OF 81 100000. say il would be curious, but
not undressing fact 10 ascertain how much OF this
large sum which has gone into the pockets of the stock
holders, has been drawn by direct tax upon the com
merce Of Cincinna-but have the data, therefore
cannot make the calculaonbut should not be far from
the fact, were to say $500 600 equal TO almost
two-thirds of the whole cost Of the contemplated i'm
provement, the Indiana side. But not my in
tenton 10 do in the article than TO prove by
unquestonabe facts, and statistics, that the
United States TO iqudae all the stock outstanding
in the louisville and Portland Canal at the prices
which they have been paying The stockholders vz 1896
per 800 paid in, and were TO repair the az to
make il navgabe for the ordinary class of boats that
navigate the Ohio would cost the government several
hundred thousand dollars than they could make an
entirely canal for the Indiana sdethat the Uni
ted States will either purchase and repair the one, or
make the other, sensible believes Ii either is
done II must be by private interests.
The estimated cost Of canal around the falls Of the
Ohio, made oct by Mr.. Ball, able, experienced and
practical engineer, from actual survey, giving four feet
in the extreme low stages OF the Oho-a width OF
q ne wi txyO each
100 feet by Ga feet, 1.-THE Louisville and Portland canal
locks 1913 feet by So and GA feet is the width Of the
canal with depth Of less than two feet in lowest water
1851 900. Now the report Of the directors of the
Louisville and Portland Canal for January 1st 1S4S
shows The following shares as outstanding private stock
on the LIST January last to witt 824 shares-hese at
the rate which the United States have already paid
for what they have puchased-Sl95 per share would be
equal $3.50 6S0-add the Of repairs to the old
canal estimated by the United States Engineer, Capt
Cram (who made the survey under resolution of Con-
gress in 1644-See Senate Documents 243-26ih Con-
gress LIST SESSION. 1856 29S, and have a total OF
$905 97S, the of the pure base Of private stock
and repairs Of the canal the Kentucky sde deduct the
cost of the canal on the Indiana side far better
work in every point of view, than be made by any
repair of The Kentucky one, S65l O0O and have diff
ference the cost of the canal and in its favor
224 as conrased with the cost OF the Louisville
and Portland Canal TO the United States, should they
purchase the individual outstanding shares that
aud make the Improvements suggested by their En-
gneer in order make navgabe for the ordinary class
OF boats ascending or descending the Ohio. Will any
one believe for a moment this will be undertaken by
the Government As the Reports Of the directors Of the
Louisville and Portland canal seldom by the pub
lc-being believe distributed among the stockholders,
have thought the one FOR January 64S might be inter-
esing have not that for Jam 1649 but II is equally
rich and interesting. The whole number Of shares 10
the Louisville and Portland canal is 10000 500 per
share equal 81 100000 which is stated in Capt Cram
report to be the total cost of The canal But il appears
by the document that the stockholders really paid
in but 84773 the balance, viz: $152 27 being carried
TO the stock account under the head Of aowances 10
stockholders, &c But this Of 81 900 600, lei
how, according to their statement, the
stands with the stockholders, furnished by the
Directors
Louisville d Portland Canal Co. in Gen'l Account
DR.
| Bal Cash, Jan. /. 4S, S102, 1873 "a
| ID 4. - Als ~