On the 12th of January, in this year, the Louisville & Portland Canal Company was incorporated by an act of the Legislature, with a capital of $600,000, in shares of $100 each, with perpetual succession. 3665 of these shares were in the hands of about 70 individuals, residing in different States, and the remaining 2335 shares belonged to the government of the United States. In December contracts were entered into to complete the work of the canal within two years for about $375,000, and the work was actually commenced in March 1826. Many unforeseen difficulties retarded it until the close of the year 1828. At this time the contractors failed, new contracts were made at advanced prices, and the canal was finally opened for navigation, December 5th, 1830. When completed, it cost about $750,000. It is about two miles in length and is intended to overcome a fall of twenty-four feet, occasioned by an irregular ledge of lime-stone rock, through which the entire bed of the canal is excavated, a part to the depth of 12 feet, overlaid with earth. There is one guard and three lift locks combined, all of which have their foundation on the rock. One bridge of stone 240 feet long, with an elevation of 68 feet to the top of the parapet wall, and three arches, the centre one of which is semi-elliptical, with a transverse diameter of 66, and a semi-conjugate diameter of 22 feet. The two arches are segments of 40 feet span. The guard lock is 190 feet long in the clear, with semi-circular heads of 26 feet in diameter, 50 feet wide and 42 feet high, and contains 21,775 perches of mason work. The solid contents of this lock are equal to 15 common locks, such as are built on the Ohio and New York canals. The lift locks are of the same width with the guard lock, 20 feet high and 183 feet long in the clear, and contain 12,300 perches of mason work. The entire length of the walls from the head of the guard lock to the end of the outlet lock is 921 feet. In addition to the amount of mason work above, there are three culverts to drain off the water from the adjacent lands, the mason work of which, when added to the locks and bridge, gives the whole amount of mason work 41,989 perches, equal to about 30 common canal locks. The cross section of the canal is 200 feet at top of banks, 50 feet at bottom and 42 feet high, having a capacity equal to that of 25 common canals; and if we keep in view the unequal quantity of mason work, compared to the length of the canal, the great difficulties of excavating earth and rock from so great a depth and width, together with the contingencies attending its construction from the fluctuations of the Ohio river, it may not be considered as extravagant in drawing the comparison between the work in this, and in that of 70 or 75 miles of common canaling.