nsumed in payment of debts and interest on loans, the aspect of the
whole is that of embarrassment and mortgage. The present rates of
income, if continued, and there is every rational prospect, not only of
its continuance, but of its great and rapid increase, will enable the
corporation--when relieved of its present liabilities,--at once to
commence a series of certain, regular, and satisfactory dividends." They
accordingly recommended a final assessment of $80 per share, completely
to extinguish all liabilities. This assessment, the 100th since the
commencement, was levied in 1817, making a sum total of $600,000,
extorted from the long-suffering stockholders. If to this sum the
interest of the various assessments be added, computed to Feb. 1, 1819,
the date of the first dividend, the actual cost of each share is found
to have been $1,455.25.

The prosperity of the canal property now seemed fully assured. The first
dividend, though only $15, was the promise of golden showers in the near
future, and the stock once more took an upward flight. From 1819 to 1836
were the palmy days of the canal, unvexed with debts, and subject to
very moderate expenses for annual repairs and management.

It is difficult to ascertain the whole number of boats employed at any
one time. Many were owned and run by the proprietors of the canal; and
many were constructed and run by private parties who paid the regular
tolls for whatever merchandise they transported. Boats belonging to the
same parties were conspicuously numbered, like railway cars to-day. From
"Regulations relative to the Navigation of the Middlesex Canal," a
pamphlet published in 1830, it appears that boats were required to be
not less than 40 ft. nor more than 75 ft. in length and not less than 9
ft. nor more than 9-1/2 ft. in width. Two men, a driver and steersman,
usually made up the working force; the boats, however, that went up the
Merrimac required three men, one to steer, and two to pole. The Lowell
boats carried 20 tons of coal; 15 tons were sufficient freight for
Concord; when the water in the Merrimac was low, not more than 6 or 7
tons could be taken up the river. About 1830 the boatmen received $15
per month.

Lumber was transported in rafts of about 75 ft. long and 9 ft. wide; and
these rafts, not exceeding ten in number, were often united in "bands."
A band of seven to ten rafts required the services of five men,
including the driver. Boats were drawn by horses,