Canal Navigation from Manchester, to or near Ashton-under-Lyne and Oldham, more effectually to provide for the discharge of their Debts, and to complete the said Canal, and the Cuts and Works relating thereto,' it is stated that the company have raised the several sums of £60,000, and £30,000, which they were empowered to do under the act of 32nd George III.; also the further sum of £30,000, granted under the act of 33rd George III.; also the sum of £29,977, 17s. in part of the sum of £30,000, which they were empowered to raise, under the act of 38th George III.; also the further sum of £8,677, in part of the further sum of £20,000, granted under the powers of the act of 40th George III. It is further stated, that the company have expended all the monies they have been enabled to raise, amounting to £158,654, 17s. and that they have contracted debts to a large amount. By this act, they are, therefore, empowered to raise a further sum of £40,000, over and above the several sums already granted, amounting to £170,000, to enable them to discharge such debts and complete their works. The last-mentioned sum of £40,000 to be raised by creating new and additional shares, or by calls, on original shareholders, of sums not exceeding £10 per share at each call.
This canal connects the towns of Manchester and Ashton-under-Lyne; and by the Huddersfield Canal, it has communication with that town, Saddleworth, and the populous clothing districts in that part of Yorkshire, and is a portion of one of the lines of inland navigation, which connects the Irish Sea with the German Ocean; on the one hand through the Huddersfield and Sir John Ramsden's Canals, the Calder and Hebble and Aire and Calder Navigations, to the port of Goole, and froln thence by the Rivers Ouse and Humber to the port of Kingston-upon Hull; and on the other hand, by entering the Rochdale Canal, near its junction with the Duke of Bridgewater's Canal, and by that navigation to Runcorn, and from thence, by the River Mersey, to Liverpool.
The town of Manchester derives considerable advantage by the facility with which this canal and branches supply it with stone and coal at an easy rate; an immense quantity of the latter article, in addition to what is required for ordinary purposes, being in daily requisition for innumerable steam engines in use in the various manufactories.
