Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-11-10

to accommodate the smaller investors.
Thus in the forthcoming sale this month
the properties exposed for bidding will be
an entire Adventures share, and fourth
of kings share. As has been said, the
sale of an entire Adventures share is
rare occurrence, and the sale of one Of the
divided shares an infrequent one They
are bought up by all classes as an invest
undergraduates, professional people, pub
lie bodies and societies.
Fortune in a Single Share.
Up till 1870, for various reasons there
was presumed to be no market for the
shares, and holders who wished to sell
generally placed themselves in commuuica-
ton with the secretary of the company,
who found buyer. Since that year, how
ever, shares have almost invariably lie, n
auctioned, the business having 0, en- in the
hands OF an old firm of auctioneers, edwin
Fox & Bousfield.
The price of the Adventures shares al
ways Of late has been in excess of Sn0o,0oO,
the record purchase, $4,000, having leen
made by a life insurance company. : he
portions into which the kings sha. eS have
been divided are ridicuously small, hut
they bring in respectable prices. In Mo-
vember, 1898, several one one-hun ired d.
and-fourth parts of Kings share sold for
about 5000 each, and some one one hun
dred-and-twelfth parts for 81 go
naturally the company's annual transac-
tons are fabulous in extent. AS far back
aS Acco TIE lotdl safes OF SnareS amounted
to more than the nominal capital. $20,UOO.-
oOO Several of the shares have remained
IN the possession of the same family, and
been handed down from genera ion 10 gen.
Grafton One in particular, when sold. rea-
liked $4,000. although The consideration
money mentioned in the original mildewt i
old scrap of paper was $3.50.
Inc management of the New River COM
pany is in The hants of board of directors,
with twen,y-n.ne MEMBERSHIP rri., al
number-who meet once a week in the
company's office in Clerkenweli. The OWL
eEship of a complete Adventures share
qualities for seat on this board.
Getting Richer and Richer.
The New River is the only one of The
city water companies whose dividends are
not limited to 10 per cent by act of par ia
ment, and its customers are charged by an
ad valorem tariff on the taxable value of
their houses. In this way a house tlat
twenty years ago was ra ed at 500 may
now be a.ed at $500, and is occupa. It's
would have to pay twice as much wa er
rates. Thus the company gains ground
with every quinquennial rea sessment,
"hlle IN reality supplying decreasing av-
erage of water. and its dividend rises an
nually with no increase of cap. al Tie
"a aple vaiue OF the property in the com
panys district now amounts to $4,000 900
per annum.
Another 6 factor in the company's as
sets, and one that will soon be of prodig-
ious size, is the amount of real es ate it
owns in Hertfordshire and Middle sex, but
especially that in Clerkenwe.l, all credit
able to the foresight of old Sir Hugh Myd-
dleton. The fifty acres that he acquired in
the erstwhile little hamlet now lie, covered
with houses, within half a mile of the Bank
OF England, in the heart of London These
houses are now rented at mercy nom nal
rates, but the leases begin to expire within
a year or two, and by 1925 the whole i'll
be the clear and free property of the great
corporation.
1t is also to this company's advantage
mat for the present, at least, the scheme Of
the London county council for a municipal
wafer supply with water brought from
ment. There We're two bills he first a M
ing to acquire the present water COMPANIES.
the second the Welsh scheme, but st
March parliament threw out the purchase
Dill, and the Welsh measure was wi h.
drawn to save it from the same fate
CURTIS BROWN