New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-12-16
"CHOICE INVESTMENTS
VAST VALUE OF SHARE IN THE NEW
RIVER COMPANY.
From The London Express.

pound interest the penny will become fl 100000.
Next to investing penny in this way the best
way of enriching your descendants seems to be
TO leave them a Kings share or the fraction OF
a Kings share, in the New River Company We
have all known for long time that the water
loros are growing rich at our expense, but none
OF US have quite understood. perhaps. that there
is snug little fortune in the tiniest bit of a
share in certain London water company. III
you do not care believe this there is a sale in
London to-day which will satisfy you once for
all. 1t is a sale Of a freehold adventurers
share" il. the New River Company.
1t is like an echo from the Stuart days. To
trace this share back 10 its origin We must go
back 10 the days when kings were fOrbidding
the growth of London, prohibiting the burning
of coal, or filming rich men heavily for living
more than certain period a year within the
THE FATHER OF THE COMPANIES
London had its water problem even then, and
clever Dutchman trying TO solve il by
raising the Thames water high enough to sup
ply the upper portions of the city. Peter Morris
was the real originator of the Thames water
companies He erected a ''forcer'' on arch Of
London Bridge 10 convey the water into the
houses of the East End as far as Grace Church
st. and similar apparatus was provided after
ward for the districts of FIeet-st. and Aldergate.
To convince the Lord Mayor and Aldermen.
the ingenious Dutchman threw a jet of water
over the steeple of St. Magnuss Church. and
after that the city authorities leased to him one
arch Of London Bridge for five hundred years at
half a sovereign a year. Two three other
arches We're leased in the way and for
two hundred years the Dutchman's curious
water machine of the sights of the city.
At the beginning of last century the lease was
sold by the Dutohman's family for 100000. and
10000
Such was the way in which the water ques-
ton was being dealt with three hundred years
ago. About the same time Hugh MIDDLETON.
London goldsmith, began an enterprise for sup
plying Northern London with water from Herts.
He built the artificial waterway which to-day
call the New River with a branch cut into
the Lea Ware To- day the city and the
northern suburbs draw over 20OO0OO0 gallons
OF water daily along this waterway.
THE STORY OF THE SHARE
1t is an i'll wind, indeed. which blows nobody
any good. The owner Of the lucky share to be
sold to-day owes his good fortune to the mis-
fortunes of the man who built the New River.
The goldsmith short of money, and his
scheme was in peril of falling through But
those were the days when kings went to bust
ness ard in 1912 King James put money into
the gOldsmiths enterprise on condition that he
received share in the profits. II the be-
ginning OF prosperity for people yet unborn
When you make the law fit in with your
pet speculations you are pretty sure of good
dividend. and some of our kings have known how
to fit in royalty with business. King James
helped the goldsmith to establish reservoirs in
Clerkenwell, and Charles l, before ne lost his
head gave the enterprise another lift by licens-
ing lottery for raising money TO bring water
from Herts to Westminster Four thousand
pounds year was the Kings profit out of this
transaction.
So there came about the state of things of
which an old writer boasts when he says;
There is not a street in London but water RUS
through II IN pipes conveyed unQeT ground. ana
from these pipes there is scarce a house whose
rent is fl5 or RIO per annum but hath water
brought into it,
The royal connection with the New River
Company has long ceased but the company still
trades its great past. Not long ago there
We're sold in London several fractional parts Of
one Of the shares allotted to King James when
the company was founded. Charles / once owned
them but ne sold them. with the rest of his
predecessors shares, back TO the company for
600 year. For this sum, which has been paid
year IN and year out ever since the company be-
came possessed of what is literally a kings
ransom.
THE DEAREST STOCK IN THE WORLD.
They are the most va-Iable shares in the
world. You would probably find it difficult 10
buy one for f10O,000.s The last time a Kings
share was put up by auction il was split up into
10th parts and one part was knocked DOWN for
1880. 64th part went for fl 800. the dividend
at which il was last rated being FAB a year.
Adventures shares such the 10 be
sold to-day, are more precious still The dividend
upon the now for sale amounted last year
to the handsome sum Of 1885. That is not,
however, the full extent of the value of this
wonderful share. Not only does il yield its
owner ITO a week but il carries with it the
suburbs-a relic Of course, of the great royal
days. Its owner is also entitled TO a seat on the
Board. The choicest investment in this or any
other age is the auctioneeT's description of his
remarkable lot"
What will be its purchase price? Nobody can
say till to-day; but We shall be surprised if the
sum is not well in six figures. The last ad-
Venturer's share TO be sold yielded f126,OOO. its
nominal value being $4,000.
The New River Company, which has risen
from these strange beginnings. is the second
largest Of the London water companies II sup