Now recurring back to the Leeds and Liverpool Canal, the first act relating thereto passed in the 10th George III. as stated above, and the number of subscribers when the act was obtained, amounted to five hundred and twenty-nine, (amongst whom appears only one nobleman, the Earl of Thanet) who are incorporated by the name of "The Company of Proprietors of the Canal Navigation from Leeds to Liverpool." Under this act the company were empowered to raise the sum of £260,000, to be divided into two thousand six hundred shares of £100 each, and the said shares to be deemed personal estate; and in case the above sum be found insufficient, the company may raise the additional sum of £60,000 in the same manner. The act authorizes the proprietors to receive five per cent, interest upon the sums advanced during the execution of the canal. Proprietors to have a vote for every share; but not to vote by proxy for more than fifty shares.
The estimate for this canal, as before stated, was made by the celebrated Mr. Brindley, and amounted to only £259,777; but as he could not attend to the execution thereof, it was put under the direction of Mr. Longbotham, who completed in less than seven years, (commencing July, 1770,) that part from Leeds to a place called Holmbridge, near Gargrave, on the Yorkshire side, a distance of thirty-three miles and a half, at a cost of £175,000; and from Liverpool to Newburgh, on the Lancashire side, twenty-eight miles, at an expense of £125,000. The canal was opened for trade from Liverpool to Newburgh in 1775, and from Leeds to Holmbridge on the 4th June, 1777. At that time it appears this company had expended in the works and in purchasing the Douglas Navigation, the whole of the money they had a power to raise; and therefore applied for another act in the 30th year of George III. for authority to raise more money and to vary the line; which act is entitled, 'An Act to enable the Company of Proprietors of the Canal Navigation from Leeds to Liverpool, to vary the Line of the said Canal Navigation; and to raise a further Sum of Money for the Purpose of completing the said Canal Navigation; and for other Purposes.' This act enables the company to vary the original line of canal commencing at a place called Lomishay in the township of Marsden, through the several
