Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1901-01-08

rich men heavily for living more than
a certain period of year within the
city.
London had it's water problem even
then, and Il clever Dutchman was try
ing to solve it by raising the Thames
water high enough to supply the upper
portions of the city. Peter Morris was
the real originator of the Thames water
companies. He erected a "forcer' on an
arch of London Bridge, to convey the
water into the houses of the East End
as far as Gracechurch street, and SIM
liar apparatus was provided afterwards
for the districts of Fleet street and AL
dersgate.
TO convince the lord mayor and alder
men, the ingenious Dutchman threw a
jet of water over the steeple of ST. Mag
nus church. and after that the city au-
thorities leased to him one arch of Lon
don Bridge for over 500 years at half
sovereign year. Two or three other
arches We're leased in the same way and
for 200 years the Dutchman's curious
water machine was one of the sights
of the city. At the beginning of the last
century the lease was sold by the Dutch
mans family for 100000, and in 1882
the Southwark company bought it for
e10,OOO
Such was the way in which the water
question was being dealt with 800 years
ago. About the same time Hugh Myddel-
ton. London goldsmith, began an en-
terprise for supplying Northern London
with water from Herts. He built the
artificial waterway which today we call
the New River. with a branch cut into
the Lea near Ware. Today the city and
the Northern suburbs draw over 10000
900 gallons of water daily along this
waterway.
1t is an ill wind indeed which blows
nobody any good. The owner of the
lucky share owes his good fortune to the
misfortune of the man who built the
New River. The goldsmith ran short
of money. and his scheme was in peril
of falling through. But those were the
days when kings went into business. and
in 1912 King James put money into the
goldsmith's enterprise on condition that
he receive a share in the profits. 1t was
the beginning of prosperity for people
yet unborn.
When you can make the law fit in
with your pet speculation you are pretty
sure of good dividend. and some Of
our kings have known how to fit in roy
atty with business. King James helped
the goldsmith to establish reservoirs in
Clerkenwell. and Charles l.. before he
lost his head. gave the enterprise an
other lift by licensing a lottery for rails
ing 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 street
= v,.r1, tt0
pipes conveyed underground, and from
these pipes there is scarcely house
whose rent is e15 or SEQ per annum but
hath water brought INTO it,
The royal connection with the New
River company has long ceased, but the
company still trades on its great past
Not long ago there was 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 he sold them. together
with the rest of his predecessors shares
back to the company for $500 a year.
For this sum. which has been paid year
in and year out ever since, the company
became possessed of what is literally
kings ransom. .-.,. ,......;
They are the most valuable shares in
the world. You would probably find 1t
difficult to buy one for 100000. The last
time a kings share was put up by auc-
ton it was split UP into 10th parts, and
one part was knocked down for $780,
A sixty fourth part Went for f1,5Oo, the
dividend at which it was last rated be-
ing e43 a year.
Adventures shares. such as was re-
Gently auctioned off for over 100000. are
more precious still. The dividend upon
this one amounted last year to the
handsome sum of 1886. This is not,
however. the full extent of the value
of this wonderful share. Not only does
it yield it's owner SEQ a week, but 1t
carries with it the reversion to landed
estates in London and the suburb-a
relic of course. of the great royal days.
It's owner is also entitled to seat on
the board. 1.-The choicest investment in
this or any other age is the auctloneers
description of his remarkable lot
The last adVenturer's share to be sold
Welded G126,O0O, it's nominal value being
G22 1000.
The New River company, which mas
risen from these strange beginnings. is
the second largest of the London water
companies It supplies nearly million
and a quarter people with water It's
total capital is less than E3OO,OOO short
of four millions sterling, and it's net
profit every year is about G2lO,OOO. And
it's business is growing rapidly; new
works are being built and miles of new,
pipes are being laid. It's masters are
among the mightiest of our water lords.