The New-York and Boston Steam-Boat Company was formally incorporated by Elihu S. Bunker (1772-1847) and Benjamin Bailey on April 19, 1828. Its first directors included Samuel Reynolds, Samuel Leggett, Samuel Ward, Jr., William C. Gibbs, and Amasa Manton. The company transported passengers and cargo on Long Island Sound. The company's steamer President was launched in May 1829 and the Benjamin Franklin soon thereafter. The 1830 pamphlet The Proceedings and Minutes of the New-York and Boston Steam Boat Company contains accusations against Elihu Bunker for wrongdoings; Bunker countered with A Reply to "The Proceedings and Minutes" of the "New-York and Boston Steam Boat Company." The company survived the controversy and, in 1836, merged with the Transportation Company, the Rhode Island and New-York Company, and the Providence Steam-Boat Company.