On the 6th of March, 1852, an act was passed by the legislature, authorizing the corporate authorities of Philadelphia city to subscribe for shares in the stock of the Philadelphia, Easton, and Water-Gap Railroad Company, and to raise the money necessary to pay for such stock by a loan on the credit of the city. On the 9th of May, 1852, a similar act was passed for a similar subscription to the stock of the Hempfield Railroad Company. In pursuance of these acts, the Select and Common Councils…
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