In July 1799 a letter had been sent to each shareholder in the Potowmack Company, outlining the financial plight of the company and soliciting assistance. The president (James Keith) reported that tolls were down from the previous year and work had been at a standstill for the past two seasons. However, a new machine for hoisting cargo over the Great Falls had been installed, replacing an earlier one, and there was still hope that the state of Maryland would lend further assistance. This was the last meeting GW was to attend. The Potowmack Company survived until 1828, when it was incorporated into the Chesapeake and Ohio Canal Company.