The Railway Era 237 



" By various subsequent Acts and collateral cuts, this 

 canal, which has now changed its name to the style of the 

 ' Birmingham Canal Navigation Company,' is extended to a 

 distance of about 60 miles of water, containing 99 locks or 

 thereabouts, 10 fire engines to raise water, number of bridges 

 not known to the present writer. 



" The original shares are computed to have cost the pro- 

 prietors ^140 each. In 1782 they were marketably worth 

 ^370, and in 1792, 1110. In 1811 an Act increased the shares 

 500 to 1000, or, in other words, for marketable convenience 

 divided them. In 1813 the half share was sold as high as 

 ^585. In 1818 power was given to the company of pro- 

 prietors further to subdivide the shares as they should deem 

 advisable, on due public notice, etc. The shares are now in 

 eighths. Thus at the present time, and at the last quoted 

 prices in Wetenhall's list, there are 4000 shares of eighths, 

 marketably worth 360 per eighth, each receiving an annual 

 dividend of ^12-10-0. Thus the original cost, compared with 

 the present value of the 500 shares, is as ^70,000 to ^1,444,000, 

 the original share having risen from ^140 sterling (or there- 

 abouts) to the sum of ^2840." 



Shares in the Loughborough Navigation cost the first 

 holders ^142-17-0 each. In the " European Magazine " for 

 June, 1821, they are quoted at ^2600 a share, and the dividend 

 then being paid is given as 170 per cent. In the issue of the 

 same magazine for November, 1824, the price per share is 

 4700, and the dividend is shown to have risen to 200 per 

 cent. 



Among other canal shares quoted in the " European 

 Magazine " for the dates mentioned are the following : 



1821 1824 



COMPANY. SHARE. PRICE. DIVIDEND. PRICE. DIVIDEND. 







Coventry . . .100 970 44 1350 44 and 61 



Erewash . . .100 1000 56 58 



Leeds and Liverpool 100 280 10 570 15 



Oxford . . . 100 630 32 900 32* 

 Staffordshire and 



Worcestershire . 100 700 40 950 40 



Trent and Mersey . 200 1750 75 2250 75* 



* And bonus. 



