Chapter

The Shares

BERNARD RUDDEN

in The New River

Published in print May 1985 | ISBN: 9780198254973
Published online March 2012 | e-ISBN: 9780191681547 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780198254973.003.0004
The Shares

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At the founder's death, the company's fixed assets consisted of the watercourse together with the servitude aquae ductus, the pond at the New River Head of which Hugh Myddelton was tenant for years, freehold land in Amwell at the source of the water held on similar trusts, and the pipes laid in London's streets. By the mid-seventeenth century, the King's moiety had been divided into thirty-six shares. The whole enterprise was split into seventy-two shares and, although some were soon subdivided, there was to be no increase in their number until 1866. At first, the King's shares seem to have been of little concern to the company as such, and the Treasurer's accounts for 1670–84 present only the Adventurers' moiety as divided. Further, it was Sir Hugh and his heirs who were liable to pay the royal fee-farm, although later the company discharged this obligation.

Keywords: fixed assets; watercourse; aquae ductus; shares; royal fee-farm

Chapter.  11983 words.  Illustrated.

Subjects: History of Law

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