 An Act of Parliament was obtained on 11 June 1788, which created the "Company of Proprietors of the Shropshire Navigation", and a meeting was held the following day, at which £50,000 of capital was reported to have been pledged.The authorised share capital was £62,500, divided into 500 shares worth £125 each.The Act of Parliament listed the names of owner of land through which the canal would pass, and also the names of the 58 subscribers who would form the Company of Proprietors.