/ - l4i-. , i 
 
 
 PRESIDENT, MANAGERS AND COMP ANA 
 
 ®rje Belatoart an?i ScDuoiRtll ©anal, 
 
 THE STOCKHOLDERS. 
 
 JANUARY 16 , 1837 . 
 
 
 P II I L .A D i: L P II I A : 
 
 PRIlXTED BY WILLIAM S T A V E L Y, 
 No. 12 Pear street. 
 
 18,3 7 . 
 
President. 
 
 NATHANIEL C. FOSTER. 
 
 Managers. 
 
 Francis R. Wharton, James M. Linnard, 
 
 Henry Toland, Jacob T. Bunting, 
 
 Thomas D. Grover, Thomas W. Morris, 
 
 Isaac Starr. 
 
 f 
 
 Treasurer and Secretary. 
 
 George M’Leod. 
 
 
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REPORT, &c. 
 
 TO THE STOCKHOLDERS 
 
 OF THE 
 
 imtr <Sciiuslfefll O:ompang. 
 
 At the first Animal Meeting of the Stockholders 
 of the Delaware and Schuylkill Canal Company, 
 the President and Directors have a peculiar satisfac- 
 tion in adverting to the increasing favour which this 
 channel of communication is gaining in the public 
 mind, and particularly with the inhabitants of the 
 districts through which it is located. For many 
 years the connexion of the Delaware and Schuylkill 
 waters, in the immediate vicinity of the city of Phi- 
 ladelphia, has been a favourite project with our citi- 
 zens, and although attempts have, from time to time, 
 been laid aside, or proved abortive, from misconcep- 
 tion of the proper mode, yet never has the project, 
 from its first conception, in 1804, been entirely aban- 
 doned. As early as that period, the necessity for an 
 easy and cheap means of transporting the Schuyl- 
 kill produce to the Delaware front, was strongly 
 impressed upon some of our most enterprising and 
 intelligent citizens. Although for so many years 
 claiming their attention, no efficient commencement, 
 likely to be pressed to a successful completion, has 
 
6 
 
 been made prior to tjaat which this report now an- 
 nounces to the stockholders. 
 
 In the incipient stage of our enterprise, such pains 
 were taken in the selection of competent skill and 
 experience, and such care in the exploration, as to 
 guard the stockholders against disappointment from 
 the impracticability of the enterprise, or useless ex- 
 penditure, without the fairest prospect of remu- 
 neration for their outlay. 
 
 The feasibility of connecting the Delaware and 
 Schuylkill fronts of Philadelphia, by a water com- 
 munication, at such cost as to insure a fair and even 
 liberal return on the expenditure, may now be con- 
 sidered settled ; and the progress already made in 
 the work, may be regarded as a sure earnest of the 
 intention of the Company to carry their designs for- 
 ward to completion. 
 
 Under the direction of the experienced engineer 
 appointed by the Board, the work was commenced 
 on the 11th of August of last year, and the contractor 
 for the work has exerted an ingenuity and persever- 
 ance (during part of the time, in defiance of the 
 elements,) sufficient conclusively to show that, if the 
 stockholders are but true to their own interests, no 
 long period can elapse before they will begin to reap 
 the returns of their expenditure. The cutting in 
 the canal now extends 3,300 feet from the Delaware 
 river, crossing Delaware Fifth street, and through 
 a portion of the line that may be considered as 
 difficult as any on the route. 
 
 In looking back upon the various designs of con- 
 necting the two rivers, from time to time entertained, 
 we cannot fail to be struck with one obvious remark, 
 that every passing year more and more points to the 
 
7 
 
 increasing value of the project. By a reference to 
 the report of the Schuylkill Navigation Company, 
 it will be seen that the total amount of tonnage pass- 
 ing on the Schuylkill in the year 1826 , amounted 
 to 32,000 tons, and in the past year, 1836 , to 631,000 
 tons, being a rate of increase per year of 60,000 tons 
 of produce passing between the city of Philadel- 
 phia and the interior of the state. Of this large 
 amount of trade, by far the greater portion is on the 
 descending navigation, the produce chiefly of the 
 Anthracite coal mines, which eventually seeks its 
 market on or by the Delaware. Of this article, 
 no less than 313,000 tons was shipped, coastwise, 
 during the last year, the greater portion, if not all, 
 of which would probably have sought a market 
 through the canal, if it had presented the channel 
 of communication. 
 
 Nor on this head need any fear of a diminution be 
 entertained. The whole products passing the Schuyl- 
 kill are composed of the absolute necessaries of life, 
 and, for the most part, are not consumed in our city, 
 but seek a market elsewhere. On this head w e may 
 well quote the remarks of the above report : 
 
 ^‘The trade, it must be remarked, especially on 
 the great staple, is steadily and rapidly progressive. 
 The measure of its expansion cannot be defined ; 
 but every one must perceive, from the continual 
 augmentation of consumption and demand, by open- 
 ing of new sources, and the enlargement of old ones, 
 that its present size is but a feeble earnest of the 
 stature it is finally to obtain.’’ 
 
 There can be little doubt that the far greater por- 
 tion of this large and increasing trade would be car- 
 ried to the Delaware front, by means of the canal 
 
8 
 
 now commenced. The difficulties of the Schuyl- 
 kill navigation from this city to the mouth of that 
 stream, are a continual source of annoyance and 
 delay to the shipping engaged in the traffic ; and to 
 such a degree does it exist, as to make the difference 
 of twenty-five cents per ton in favour of the Dela- 
 ware front of the city, of loading any vessel for a 
 northern port. 
 
 This, of itself, might be cousidered inducement 
 sufficient to carry the descending trade of the 
 Schuylkill through the canal ; but to this must be 
 superadded the consideration that the greater por- 
 tion of the descending trade must be taken from the 
 Delaware front, at an expense of each ordinary boat 
 load, of between thirty and forty dollars, for trans- 
 portation from river to river. It is thus seen that, 
 even allowing the highest rate of toll to be charged 
 for passing produce through the canal, the shipper 
 will save ten cents per ton on the descending trade, 
 and more than double that amount on all articles 
 taken from the Delaware for the ascending naviga- 
 tion of the Schuylkill. 
 
 As a farther motive to the use of the canal, for 
 both the trades, we may advert also to the saving of 
 time, a most important item at that season of the year 
 when the coal-trade is most thriving. 
 
 A canal boat may reasonably be expected to make 
 the passage from below the Permanent bridge, by 
 the canal, to the Delaware, in three or four hours, 
 while the time necessary for the passage from the 
 same place to the same point on the Delaware, can- 
 not be estimated, unless under very favourable cir- 
 cumstances, at less than two days ; and when we 
 add to this the saving to be made on the transporta- 
 
9 
 
 tion of the article, we cannot be considered too san- 
 guine in our anticipations of a decided preference 
 being given to this mode of conveyance. 
 
 » Assuming that two-thirds of the descending trade 
 in coal alone, and one-third of the remainder should 
 find its way to market through this canal, and that 
 one-third of the ascending trade should go by the 
 same channel, we have an amount for the past year 
 of 354,000 tons, probable trade of the canal ; this, 
 at the rate of charges allowed by law, would exceed 
 an income of 13 per cent, on the cost of construc- 
 tion. 
 
 This assumption falls below the amount of coal 
 absolutely exported, although it might be reasonably 
 expected that the whole export of this article would 
 eventually find its way by this channel. 
 
 But it would be stopping short of an enumeration 
 of all the advantages of this improvement, to rely 
 alone upon the trade of the Schuylkill, or the arti- 
 cles carried through to the Delaware front, for the 
 revenue of the canal. Many articles of heavy car- 
 riage other than produce, coming through the Schuyl- 
 kill canal, will find their way by this route; and it 
 cannot be reasonably supposed that no other articles 
 than those for export will be forwarded by its means. 
 The brick-trade in that section of the county is al- 
 ready of large amount, and constantly increasing. 
 This article will be wanted to a great extent at such 
 points as to render a water carriage desirable ; and 
 the same remark applies to the supply of wood, con- 
 stantly required in their manufacture. The expense 
 of their transportation from place to place enters so 
 largely into their component value as to make a 
 water communication, for this purpose, extremely 
 
10 
 
 desirable, and it cannot be doubted that, when pre- 
 sented, it will be made available immediately for 
 that purpose. 
 
 Nor is it proper that we should here lose sight of 
 that portion of the coal and other trade that would 
 be likely to concentrate along the line of the canal, 
 for the supply of the adjoining population. 
 
 A great portion of the southern section of the city 
 and county can be more advantageously supplied 
 with coal and other products from the Schuylkill, 
 from depots along the canal, than from any other 
 points at which they are now deposited. We can- 
 not be far wrong in supposing that all south of Pine 
 and east of Broad street, would seek their supply of 
 Schuylkill productions, and many of those from the 
 Delaware, at depots on the canal, in preference to 
 those on either of the rivers; more especially as 
 those products can be brought to this point at nearly 
 the same expense, and stored at far less cost. The 
 cartage from any point along the line to southern 
 parts of the city must be at rates considerably below 
 those from the Schuylkill, and no reason appears 
 why one-sixth part of our population would not seek 
 their supplies rather at this point than at either of 
 the city fronts. ‘ 
 
 One other source of revenue may be made avail- 
 able, consequent upon the reduction of the summit 
 level, viz: — the supplying of a large portion of the 
 •southern districts with water from the Schuylkill ; 
 the engine estimated originally for the supply of the 
 canal will be more than adequate for the purpose, at 
 the level now adopted. Water, of at least as good 
 a quality as that from Fairmount, and with more 
 oertainty in the supply, could be furnished from the 
 
11 
 
 works of the Company, should it be thought proper 
 to enlarge its operations, by a small addition to the 
 expenditures. 
 
 Connected with this subject is the revenue proba- 
 bly derivable to the Company from the establish- 
 ment of depots along the banks of the canal. The 
 fronts along the line will, of course, belong to the 
 present proprietors of the lands through which it is 
 made ; but in many cases basins will be wanted for 
 the convenience of lading and unlading boats. The 
 supply of water for these, and the privilege of con- 
 necting them with the work, will be a fair subject of 
 yearly charge, and will be a source of continual in- 
 come to the Company. 
 
 But it would hardly become us to conclude this 
 report without adverting to the interests that will 
 necessarily be advanced, in which this Company 
 have no more stake than the general one shared by 
 the entire population of the southern districts. The 
 public improvements heretofore have gone almost 
 altogether to the advancement of other, and, perhaps, 
 more highly favoured sections of the county. There 
 appears no other hindrance to as rapid an improve- 
 ment of the southern as the northern districts, than 
 the want of a convenient communication with the 
 surrounding country, and the business air which 
 easy and cheap means of communication impart to 
 every locality. These will be furnished in a very 
 satisfactory manner by the present improvement, 
 and it cannot be doubted that this section of the 
 city will be rapidly filled with an active and thriv- 
 ing population, to the manifest improvement of the 
 value of property generally, and especially of that 
 in immediate contact with the work. To the inha- 
 
12 
 
 bitants and property situated between Broad street 
 and the Delaware, on the south, or, more properly, 
 the southwestern section, the facility of obtaining 
 supplies of coal, iron, &c., will be greatly increas- 
 ed, and they cannot but see the advantage of che- 
 rishing, by every means, the interests and advance- 
 ment of the Company. 
 
 Along the Delaware front it is already seen that a 
 great increase in the value of the lots must im- 
 mediately follow the completion of the work. 
 Large advances have been already offered on the 
 price of lots nearly adjoining the canal and basin; 
 and it is hoped that the very liberal conduct of the 
 individual who granted the spot for the debouche- 
 ment, free of charge, to the Company, will be more 
 than compensated to him by the rapid and perma- 
 nently increasing advance on the property still re- 
 tained in his own possession. 
 
 It will be seen by the report of the engineer, here- 
 with submitted, that the reduction of the summit 
 level, directed by the Board, has not increased the 
 estimated cost of the work, at the same time that it 
 has increased the capacity of the canal, besides fur- 
 nishing a supply of water beyond its wants, which 
 may, if judged advisable, be turned into a source of 
 permanent revenue to the Company. We would 
 also refer to the same document for a statement of 
 the amount of work done upon the line. 
 
 The accounts of the Treasurer made up to this 
 date, are here appended : — 
 
13 
 
 1836. 
 
 Jan. 16. Balance on hand, 
 
 Received during the year, 
 
 $14,546 80 
 18,507 60 
 
 33,054 40 
 
 The payments during the 
 year amount to 
 
 1837. 
 
 31,553 26 
 
 Jan. 17. Balance on hand, 
 
 $1,501 14 
 
 In conclusion, a steady adherence to the plans 
 already commenced, and an unswerving prompti- 
 tude in answering the pecuniary calls made for their 
 completion, are strenuously urged upon the stock- 
 holders, as by these means alone can an improve- 
 ment of vast importance to the city and county of 
 Philadelphia, and of unquestionable profit to those 
 concerned, be made speedily available to all. 
 
 All which is respectfully submitted. 
 
 NATHANIEL C. FOSTER, 
 
 President, 
 

 
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