CHAP. IV. TIIK \I-\V RIVER COMPLETED. l;;i 



first dividend <>nlv ;iim>untr<l to If)/. .'!*. \\<l. a sluuv. 

 Tlir next dividend of 3. 4s. "Id. was paid three years 

 later, in 1G36; and as the concern seemed to offer no 

 ii'n-at prospect of improvement, and a further call on 

 the proprietors was expected, Charles I., who required 

 all his available means for other purposes, finally re- I 

 granted liis lliirty-six "King's shares" to the Company, i 

 under his great seal, in consideration of a fee farm rent ' 

 of 500/., which is to this day paid yearly into the King's 

 exchequer. 



Not wi tli standing this untoward commencement of the 

 Xew River Company, it made great and rapid progress 

 when its early commercial difficulties had been overcome ; 

 and after the year 1640 its prosperity steadily kept pace 1 

 with the population and wealth of the metropolis. 1 By - 

 the end of the seventeenth century the dividend paid 

 \\as at tlir rate of about 200 /. per share; at the end of 

 the eighteenth century the dividend was above 500Z. 

 per share ; and at the present date each share produces 



1 The New lUver Company has < provision of a carefully-regulated ba- 



I'nnii time to time enlarged its works, lance-engine erected near Hertford. 



widening the stream to about 25 feet, j On one occasion the New River Com- 



and adding to its supplies of water pany contrived to make a very good 



l'nm various sources. About forty-two bargain through the dexterity of their 



square feet of water flows from the surveyor. Finding the quantity of 



river into London, at the rate of two j Lea River water first agreed upon to 



miles an hour, all the year round. ! be too small for their purpose, the 



Some 70,000 houses are supplied from j Company offered to give double the 



this source, besides large breweries j price it then paid, for a pipe of double 



and manufactories. The charge to the diameter. To this the agent of 



each noose is on the average less than j the Lea Hirer trustees weakly as- 



a penny a day for 241 gallons of j sented, being so ignorant of the busi- 



water. The principal additional sup- ness as not to be aware that the on- 



ly has been obtained from the liiver 

 a. The first water taken from that 



fices are to each other as the squares 

 ot their diameters. In consequence 



i; 



source was permitted without opposi- I of this want of a very slight amount of 

 but the Lea Trustees found it '. mathematical knowledge, the Lea River 



8 iry to cheek tin- diversion of 

 their river, and protracted litigation 

 was the eonsei[Uenee. Mutual ar- 

 rangements win- then entered into, 

 and the New River supply was strictly 

 reunlated by fixing the diameter of 

 the pipe through which the Lea water 



was to flow, and subsequently by the 



Company was obliged to furnish four 

 times the |iiantity ! water which it 

 originally supplied, for only twice the 

 sum which it at first received. Well 

 might their a^ent exclaim, " '\ I see 

 mathematies may be good for some- 

 thing, after all !" 



K : 



