Transcription contributed by Martie Callihan 1 December 2004

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289

The navigation of the Little Miami by means of slack water and canals was proposed in the early history of the State, but it was never carried out. In 1817, the Legislature incorporated the Little Miami Canal and Banking Company, authorizing it "to construct such darns and locks, and to open such canals as may be necessary for a practicable ascending and descending boat navigation on the Little Miami River from the Ohio to the town of Waynesville." The incorporators named in the act wore Abijah O'Neall, John Satterthwaite, Richard Mather, Thomas Graham, Isaac Stubbs, Ralph W. Hunt, Jeremiah Morrow. John Elliot, Patterson Hartshorn, Zaccheus Biggs and John Armstrong. The company was authorized to carry on a general manufacturing and banking business; the capital stock was to consist of $300,000, and the subscription books were to be opened in March, 1818, at Cincinnati, Milford, Gainesboro, Lebanon and Waynesville. The company was authorized to receive tolls at the rate of 10 cents per ton at each lock. It was expected that the canal would make Gainesboro. which had been laid out two years before, a thriving town, but work on the canal was never commenced, and Gainesboro, never attained the importance anticipated by its projectors, and long ago ceased to exist as a town.