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W o r c e s t e r 3 0 0 : C i t y o f I n n o v a t o r s 39 1822-1921 e canal was a privately financed enterprise with Rhode Island investors in the majority. Rhode Island's interest was in selling goods upland, rather than widening other markets. Providence shareholders invested $500,000, while Massachusetts investors put up the remaining $250,000. Stock subscriptions opened at $100 per share, which would get whittled to $37.50 per share in the first offering. In 1829, a knock-on offering price was $15 per share. An eight-year tax break sweetener exempted canal company stock from property taxes. Blackstone Valley mill owners sued the Canal Corp. in 1833 over water rights, as the fluctuating water levels in the canal compromised the water power needed to consistently operate. ey prevailed, and the $8,450 fine leveled against the Canal Corp. in 1837 exceeded its gross revenues for that year. e Blackstone Canal experienced freezing in the winter and low water levels in summer drought season. In 1841, a particularly intense flooding season did $3,000 in damages to the canal, and shippers sought other options. ose options were, by then, readily available. Railroads, financed by Boston-area trades industry who shipped overland, were eager to enter this new market and mounted a defensive measure against the Blackstone Canal even before it was built. e Boston-to-Worcester railroad, chartered 1831 and opened for service 1835, would be followed by more. By 1900, Worcester hosted the Boston and Albany Railroad, Providence and Worcester Railroad, e Worcester and Nashua Railroad, e Boston, Barre and Gardner Railroad, and the Fitchburg and Worcester Railroad. — Christina P. O'Neill Railroads offered a viable transportation alternative to the Blackstone Canal. is train is one of Worcester's first. Railroads, financed by Bton-area overland shippers, were eager to enter the new market and mounted a defensive measure against the canal. Image | Worcester Historical Museum Image | Worcester Historical Museum