In 1849 the rate was reduced between New York and Boston to thirty
cents, in 1850 to twenty cents, and in 1852 to ten cents. None of the
lines, however, paid their working expenses from the time of their
construction up to 1853. Even in 1848, when there was no opposition, the
expenses exceeded the receipts by $1,199.00. One of the three lines was
sold at public auction twice within three years after its construction,
to pay the debts incurred in operating it. In 1853 two of the lines were
united under one control, and an amicable arrangement entered into
between the two remaining companies, by which the rates were advanced
approximately to those of 1848, and they remained unchanged for the next
ten years.