, 1877-08-01
LA1lE SUPERIOR SHIP CANAL.

History or = Great Undertaking and the FL
nal Termination OF II Prolonged Litigation
-1.oaa tn Bot,ihol.lers Of Over $4,000, 600
The New Company.
nt.sot Tribune.
The history of the great Ship Canal of Lake
Superior makes asl Important Item In tho Ju-
dlctal, commercial, and financial history Of
Michigan. Tie tnattrrs have been IN the
courts Of the unitc'l States nearly scoTe Of
lines, and tnillluns OF dollars hare been
wasted in the Investment, The canal was
undertaken to nsake better navigation facilt4
sroun ss iF "ea fas sspf sae 'o o Ksss
nav Point Lake Superior. These places are
situated nearly midway between the shorcs and
seventy. miles frotn the extremity OF the point.
south shore through Portage Lake, aud vessels
OH the north shosc ~ reach them Wcrc Obliged
to tnakc the long and dangerous circuit Of thc
Point. Portaro Lake navigation reached The
1861 party ot gcntleinua formed u evaporation
under the State laws for the purpose Of cutting
canal across this point. Il was known ~ tho
Portage Lake an1 Lake Superior Ship Canal
President Tho articles called for capital stocls
OF }50O, coo, but 1t -appcars that the Company
had little financial strength. Thu following
ycur Mr.. Avery went to Washington, gut tho
matter hGfore CongTesa, and secures! lcEtalatiDn
IN tho way Of q mineral lAul grant of 4N,001
acrcs to our State to aid the enterprise. Our.
Legislature closed With the otIer at 0nce and
granted the land to the Company, with conlt-
canal WY beEun In tue kpstn. Of fSs't but 1t be-
casne npbarent that further alt! would be ,,cccs-
sary, and Congress measured oil AO,0 ,0o0 nrrcs
s na ts hs a' o ne 10 5S qpPsr !P so a,
extended, and tho canal was to be free public
highwny u tho Government Funds must be
fal. and IN July, 1S5, thu corporation mort
gagged tho first land-grant ana cnual to e. T..
1Sfs1nsH nf Hnt4Vltnn Trtt fOf fkR hottff.
holders, to secure loan on ,V0 A0rt1s of s5l0
eactt. Mr. Douglass, at later pcr!."l, wAs suc-
coded by J. l.. Sutherland, nf New York. Three
years later, to borruw $780, .oN more, the last
naucd property, plus tho sccond grans, wns coy.
csc.i With another mortgage ~ Aicsrr+. Martin
and Davis, Trustees, respectively of Caltfurnla
eni Now JsrssY. l; Lu,lan blrdseye' q Sew
md the next year tlllrl mortgage, was made
to C. y. Frost, Trustee, Of New York, to t,htain
loan of el..4a0,oQu. MIR. Frost wus succeeded
by Thon,as y. MeCarter, Esq.,, of New JetsrY..
cd artislcs, and .a1ne out " "'fhu Lake In.
pcrtor Ship Canal anil Railroad 1rDn Company"
increased It's capital stacs tn $1,000 00U. and Oh
talnel loan ot q ,@o, goo from tho Union 1ru,t
GaGc u i Third and foutt!i lien Oh property ut-
really moEtgaged, and first mortgage ut, u
| 4v,0M ac1o tfart, known rs thc wagon road
!a'nlsa;", ,ia ~, The u 1mostgases now agzregatsd
$3t3U,U0 ot 10 pNr cent Interest, secured by
| II exaggerated Work On tho canal began In
l6G5, but pssa'sess was sow, uwlng to for
lnidablc obstacles aud difficulties. The cut
n,ust be 30 foet Wide BY attecn fcct deep, a1l
acrDss a swan,py sect!on whcrc at m carly day
thcrs had buen gtvat wlndfall, uptnrnhg an
entire forsst u heavy growth a,d leaving
lared condt!on. This upturiled forcst had sunk
| deep lu the tutfe wherc ttc wuou WIS preserved
| and covered by aeerctiohs. Thu heavy washing
| scas In tue stntnly cnHst made It necessary to
crcst 1troug bscak~sies protection III heavy
Tho work bad been in construction scrcn
years, and ut the o.wnng OF lsi3 was unenna-
plclcd and ylcld!ix nulhng. Thu Co,lpany's
trcAsury w4s empty, and, unAhIe IT, sertsrr n"tc
lUans Or puy !utercst utl thusc lnadu, the tote-
closures aud lung serea u lltIgutluus in bunk
Fuptry followed In the next live ycars, during
which ttmc uearly all tAc 'ea*ling n.torness of
lirst tu f0rcclosu foF Interest In the Cnite States
Crcnt Court Ut tll,s cty IN May, le1,, by Alfred
Russell. attorney, and A!cCarttr anl blrIseSc
wsfH aas PARTIES asIcn1ant uae cSur npon
Ut Missouri, to cuntrul and complete the canal.
Thu Court, In ttsc exxtise Of its extEaorilnary
rIanrcEy p,wtFs. authorized she Receiver ~
luukc luan OF s500,Ouo to cs,lnplctu thu work,
as.L make the loau i llsst lien upon tl.u ca,,a1
and property. In July, slctarttr anl BIrdsvye
ltgan foreclosure proceedings In tho hasile
Court. y. ii. Dickinson, OF this city. appeare.l
for lhe Co,1rany 10 the foreclosure suits, and
tu eacf tbs decree had Lecu " ssl tho canal snl
property. The decision III tLe ACcarter suit
was appealed tn the cniscd states Surrctnc
Court, but There the decrco bel"w WAS aIlirn e.
IL Ilecesnber, 1874. tho long and complicated
bankruptcy litigation began. %het' csstais! buud-
holders 1led petition in b4nktuptcy in tue
United States Court in this city. The prttlnn
W. gran.ea an4 h neorKe JsFoms ss, of pstFoit,
painted Assignres. On the 18th, aieCaEtcr llle'l
supplemental blll tu bring III tue AseiSntes a.
dclcniants to tue foreclosure suits, aud ~ April