The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-07-11
HOUSE WRECKERS UNEARTH
AARON BURR'S WATER TANK
Interesting Bit of Old New York History Uncovered
With Demolition of Building at Centre
and Reade Streets

not permit another bank, and they we're
backed UP by President John Adams.
Burr and his friends started 10 or
ganize "A water company with S2,000,0OO
capital and applied to the State Legis-
lature for "A charter. About that time there
was smallpox epidemic which was
ascrdbed to the wells and springs OF the
little city. The Legislature granted a
charter to the Manhattan Company to
supply pure. clean water to the city.
The company then sunk two wells at
Centre. Chambers and Reade streets. put
up the cast iron reservoir and laid wooden
water pipes all through the city, which
was mostly to the south OF them.
Then they started a bank. and although
Mr.. Hamilton and his friends might OBJ
ject they could do nothing. MIR. Burr had
shrewdly inserted what Is known In these
days as a Joker" in his charter. II
reads That the company is authorized
to employ all surplus capital In the pur-
chase OF public or other stock or In any
other moneycd transactions or operations
not Inconsistent with the Constitution and
laws OF New York or of the United
States"
That clause applied to banks as well
as other things and the Bank OF the Man
haitian Company which was organized
then. has had "a prosperous existence ever
since
New York citizens did not care for
water company. public or private IN
those days. Wells had been good enough
for their fathers and thy were good
enough for them. II they wanted water
they could 80 TO the pump and get it in
buckets. \ water company would only
add TO the cost OF living which was GO
Ing higher every day. Why. beefsteak
was selling as high as II cents "a pound
for choice cuts.
The water company then erected it's
stockado or fort around tho tank. pierced
as 1t is seen to-day They dug the lower
cellar as II to make ready for a siege.
They surrounded the whole affair with
Corlnthian columns and on the top OF IL
they erected the statue OF a man pouring
water out OF a jug. What IL more. they
went over to England aud brought back
by fast ship one OF those new fashioned
arrangements-a steam engine. which
pumped the water out OF the well into
the tank
There were protests and objections
against the water company "a various
intervals and attempts We're made fire.
queDly 10 put them out Of business.
In 1898. when the company was at
tackled. they showed that they had two
OF the engines working and they were
pumping $4,000 gallons OF water out
through the log pipes every sixteen hours.
The city grew and the company with II.
despite protests of those who wanted
the wells and in 1896 the company re-
ported that II had extended it's pipes up
broadway rs far as Blocker street. That
was as far as IL went, for IN 1874. the
Croton water system was estab-
lishcd by the municipality and the COM
pany lost its trade. II held on 20 the
tank and the wells, however. Wheu the
new building goes IN on the site they
will still te there, so there will be no
charter troubles.
New York city and the State are stock
holders to the cNtcnt OF $4,000 in the
Manhattan Company