But despite the feasibility of the plan proposed, and the energy with which it was pushed, the agitation came to naught; and Eddy
, despairing of the future, resigned his position as agent in 1845.
Among the directors during these later years were Ebenezer Chadwick
, William Appleton
, William Sturgis
, Charles F. Adams
, A. A. Lawrence
, and Abbott Lawrence
; but no business ability could long avert the catastrophe.
Stock fell to $150, and finally the canal was discontinued, according to Amory
's Life of Sullivan
It would seem, however, that a revival of business was deemed within the range of possibilities, for in conveyances made in 1852 the company reserved the right to use the land ‘for canalling purposes,’ and went through the form of electing an agent and collector as late as 1854.
‘Its vocation gone, and valueless for any after service,’ says Amory
, ‘the canal property was sold for $130,000. After the final dividends little more than the original assessments had been returned to the stockholders.’
Oct. 3, 1869, the Supreme Court issued a decree, declaring that the proprietors had ‘forfeited all their franchises and privileges by reason of nonfeasance, non-user, misfeasance and neglect.’
Thus was the corporation forever extinguished.
at one of the public social functions of the D. A.R. a member of the Historical Society was conversing with the dignified and gracious daughter of Col. Asa Law
. One of the financial managers of the evening approached and remarked to the gentleman, ‘I see that you are busy.’
‘Yes,’ said the historical member, ‘I am looking after the Law
, and you can take care of the profits