THE METROPOLITAN WATER COMPANIES. From a report presented to the Local Government Board, 1885, by the water companies we learn the number of houses supplied in the years 1872 and 1883, respectively; and in each of these years the total amount of the rates, rentals, and other charges, the total amount of the dividend and the rate per cent, the amount of share and loan capital, the amount of bonuses to shareholders, and other financial particulars. The following table shows, in respect of each of the companies, the maximum number of houses, or other buildings, supplied with water in the years 1872 and 1883, and the total amount of the rates, rentals, and other charges for the supply of water to houses or other buildings during the financial years 1872 and 1883 : NUMBER OF HOUSES AND WATER RENTALS. Southwark and Vauxhall West Middlesex 103,701 46 1 1872. 1883. 1872. 1883. 238,939 56:5 It will be observed that between 1872 and 1883 the number of houses or other buildings supplied with water by the companies rose from 497,736 to 659,249, an increase of 324 per cent, while the water rentals in respect of such houses or buildings rose from £948,277 to £1,505,057, or 58 7 per cent. The average rental thus increased from £1 18s. 1d. per house in 1872 to £2 58. 8d. in 1883, or 199 per cent. The companies explain, in relation to this increase, that the houses newly erected are for the most part of a superior class; that those rebuilt are generally much larger than those which they replaced; that in many cases, owing to works of public or private improvement, two or three houses have been converted into one; and that thus, while the number of houses in the most densely populated parts of London has diminished, the value of the property has increased commensurately with increase in size. Including a bonus of 1 per cent per annum on ordinary stock, payable in each of the two half-years to June, 1876, and June, 1878. † Apparently only partly by shareholders. Including £18,000 terminable bonds. Including a bonus of 1 per cent per annum in the half-year to December, 1878. Including £82,830 terminable debentures and bonds issued between 1872 and 1876. On reference to the detailed statistics furnished by the several companies, it will be seen that the particulars of the amount of bonuses or other payments made to shareholders do not, as ordered, include, "in the case of the New River Company, any payments in respect of the landed estate, houses, or property of that company, not directly used for or connected with their water supply." The company have declined to furnish this information, on the ground that the estate and houses in question are private property. TABLE SHOWING AMOUNT AND ESTIMATED VALUE OF SHARE CAPITAL. 1,000,600 51.9 1,672,475 1097 1,695,260 43 1,970,991 3,212,518 63:0 1,070,000 34.2 1,284,602 2,128,300 637 688,907 33'4 627,690 1,665,48 165 3 75.3 867,452 2,463,616 184 0 210 3,905,882 8,474,000 117 0 28 4 1,172,515 2,350,509 100-5 £ 658,692 1,625,560 797,390 516,460 Lambeth 765,817 New River 1,670,428 1,325,047 2,019,958 Southwark & Vauxhall 1,082,500 1,390,000 West Middlesex Totals Chelsea East London Grand Junction Kent Lamb. th New River Southwark and Vauxhall West Middlesex This is given to June 30, 1883, but the amount of share capital was the same in December, 1883. AMOUNT AND VALUE OF LOAN CAPITAL. According to the above table, the average amount of water supplied daily to each house for domestic purposes by six out of the eight compani s was less in 1883 than it was in 1872. The aggregate amount of dividends received by the shareholders during the period 1872-83 was £8,501,486, on a share capital which increased from £7,955,578 in 1872 to £10,344,313 in 1883. The rate per cent of the dividend paid by each company was higher at the end than at the commencement of the period, notwithstanding that by far the greater part of the new capital created was issued to the shareholders or their nominees at par, an arrangement by which the dividend-bearing capital was increased to a greater extent than would have been necessary if it had been raised in the open market. Chelsea TABLE SHOWING RATES PER CENT OF DIVIDENDS. Name of Company. In calculating the gains of the shareholders during the above period, it is necessary to take into consideration not only the dividends which they received, but also the gains which they made by taking up share and loan capital at par, in pursuance of the powers given to them by their private Acts by the incorporation of the provisions of sections 17 to 19 of the Companies Clauses Act, 1863. The total amounts of share and loan capital thus paid up during the above period in respect of capital taken up by shareholders or their nominees were £2,202,433 and £715,117 respectively; the only company the shareholders of which did not take up share capital at par being the East London Waterworks Company. Chelsea... Totals 2,285,293 2,714,036 +18'8 2,144,266 | 3,050,952 + 42:3 In the period of 1872-83, a portion of the loan capital has been converted into share capital, and a further portion has been raised by terminable bonds, now paid off. In these cases a considerable amount of loan capital was raised during the halfyear, following Dec. 31, 1871, which will account for the estimated value of the loan capital on that day being less than the amount of loan capital at the close of the foftowing half-year. This is the value of £125,000 debenture stock, loan capital to the amount of £33,925 having been converted into share capital in November, 1885, Waterworks Clauses Act (1847) Amendment (1885) declares that the words "the annual value of the tenement supplied with water" in the 68th section of the Waterworks Clauses Act, 1847, shall, within the unions and parishes to which the Valuation of Property (Metropolis) Act, 1869, extends, mean the rateable value as settled from time to time by the local (parochial) authority as duly constituted: Provided that where the water rate is chargeable on the annual value of a part only of any hereditament entered in the valuation list, such annual value shall be a fairly apportioned part of the rateable value of the whole tenement, ascertained as aforesaid, the apportionment in case of dispute to be determined in manner provided by the said section. This short but important Act, which in future will be known as Torrens' Water Clause Amendment Act, is intended to define and limit the rating powers of the Metropolitan Water Companies so that, in future, the water rate will depend on the annual value of the house as settled by the parochial authorities, and not by the companies. This Act came into operation August, 1885. NOTABLE OCCURRENCES AND EVENTS, 1884-5. 1884. AUGUST. 25. Admiral Courbet's first engagement with Chinese at Foochow 26. Lord Wolseley appointed to the command of the army in Egypt. 27. British Association met at Montreal, under the presidency of Lord Rayleigh. 28. Prince of Wales presented new colours to Gordon Highlanders at Aberdeen. Destruction of the Kinpai Forts by the French fleet. SEPTEMBER. 1. Reported spread of cholera in Italy and in Spain. Mr. Gladstone in Edinburgh. General Manteuffel, Governor of Alsace-Lorraine, orders the expulsion of unnationalised residents. 2. Joseph Livesey, the founder of teetotalism, died. Letters from Khartoum, dated Aug. 10, announcing defeat of rebels by General Gordon." 4. Kelung shelled by the French. An association formed in Hamburg to extend German commercial relations with West Africa. 7. Salvation Army riots at Worthing and Brighton. 8. The transport Pelican left Woolwich with the first of the beats for Nile Expedition. 9. Spreading of cholera in Italy: 329 deaths in Naples. The Emperor of Russia reviewed his troops at Warsaw. Lords Northbrook and Wolseley in Egypt. 10. British protectora'e declared over the southern part of New Guinea and adjacent islands. 13. International Conference at Washington adopted Greenwich as the prime meridian. 15. Race from New York between the Cunard steamer Oregon and the National Liner America resulted in favour of the former. 16. Mr. Gladstone cut the first turf of the Wirral Railway, at Birkenhead. 20. The "Claimant" released from prison on ticket-of-leave. 21. Speech by Lord Salisbury at Dumfries--serious disturbances. Cambridgeshire: Florence, 1; Bendigo, 2; Pizarro, 3. Ministerial changes: Mr. Dodson elevated to the Peerage. 22. Major-General Scrutchley appointed High Commissioner for New Guinea. 23 Autumn Session commenced. Commons: Debate on the Address; amendn en: moved by Mr. Harrington to discuss the Maamtrasna murders. 18. Mr. Shaw Lefevre appointed to succeed Mr. Fawcett as PostmasterGeneral; Sir Thomas Brassey to succeed Mr. Campbell-Bannerman as Secretary to the Admiralty; and Mr. W. S. Caine made a Civil Lord of the Admiralty. 19. Hackney Election: Professor Stuart (L), 14,540; Mr. M'Alister (C), 8543. 20. Fortescue-Garmoyle breach-ofFromise case settled by payment of £10,000. 21. Commons: Mr. Labouchere's motion for the abolition of the House of Lords rejected by 145 to 71. 24. Commons: Income Tax Bill read the third time, and the House adjourned till Dec. 1, to allow of negotiations being concluded with the leaders of the Opposition with regard to the Redistribution Bill. The Mounted Infantry advanced to a spot twenty miles beyond Dongola on account of the prevalence of smallpox in that place. 1885. JANUARY. 1. New Franchise Bill came into operation. 2. Dynamite explosion on the Underground Railway between Gower-street and King's Cross. 5. General Campenon, French Minister of War, resigned on account of difference of opinion with M. Ferry on the subject of Tonquin. 6. Arrival at Gakdul of advanced column of the Nile Expedition under General Stewart. 8. Celebration of the coming-of-age of Prince Edward of Wales. 15. Mr. Muskelyne recovered £10,000 damages from Mr. Irving Bishop for libel; reduced on appeal. 16. Judgment given by the Court of Appeal against Mr. Edmund Yates, proprietor of the World, in connection with a libel on Lord Lonsdale in that paper. Mr. Yates committed to serve out the term of four months' 35. Arrival at Herat of the escort imprisonment. the Afghan Boundary Com- 17. Edmund About, French author, for mission. 26. Scarborough Election: Caine (L), 1832; Sitwell (C), 1639.Greenock: Sutherland (L), 3558; 24. Commons: Mr. Gladstone intro- Scott (C), 2417. duced the Franchise Bill. Mr. Campbell-Bannerman sworn in as Chief Secretary for Ireland. 26 Radical demonstration in Hyde Park in favour of the abolition of the House of Lords. 27 Colonel Stewart and party murdered on board a steamer from Khartoum, wrecked near Cataract. Fourth Nile - Celebration of the one-hundredth birthday of Sir Moses Montefiore. Despatches received from Gene 10. Lord Dufferin appointed Vice-ral Gordon. roy of India. St. Leger: The Lambkin, 1; Sandiway, 2; Superba, 3. 11. Bombardment by the French of Mahanoro, east coast of Madagascar. 12. Release by the Rajah of Tenon of a portion of the crew of the Nisero. 15. Centenary of the first balloon ascent in London celebrated. Meeting of the Emperors of Germany, Russia, and Austria at Skiernievice, in Poland. 17. The completion of the Inner Circle Railway celebrated. French troops landed at the Kinpai Pass, river Min, defeat the Chinese with great slaughter. Social Science Congress opened at Birminghamı. 18. The captain and mate of the yacht Mignonette committed for trial, at Falmouth, for the murder of a boy named Parker, whom they had killed and eaten while suffering terrible privations in a boat at sea. 22. H.M. gun-boat Wasp wrecked on Tory Island, coast of Donegal-52 lives lost. 28. Commons: Mr. Harrington's amendment to the Address rejected by 219 to 48. 29. Radnor Boroughs Election: C. C. Rogers (L) unopposed. 30. Commons: Address: Amend ment by Lord Randolph Churchill, expressing regret that recent speeches and actions of the President of the Board of Trade were an incitement to interference with the freedom of political discussion, rejected by 214 to 178. Prince Bismarck defeated in the German Reichstag by 180 to 99 on the question of payment of deputies, which the Chancellor opposed. 27. The steamer Durango sunk by collision with the Lake Bruce twenty lives lost. 28. County Down Election: Captain Ker (C), 4387; Mr. Crawford (L), 3998. Resignation of the Archbishop of Dublin. taryship of the Treasury. 2. Lords: Lord Northbrook inti£5,525,000 was required for the purmated that an expenditure of Poses of strengthening the Navy, armaments, &c. through Committee. 5. Lords: Franchise Bill passed. Arival of Lord Dufferin at Bombay, Judgment given against Mr. Bradlaugh on his application for a new trial of the action in which he has been found liable for penalties for voting in the House of Commons without taking the oath. 9. Knaresborough election: Colonel tion-stone of the National Liberal Gunter (C), 319; Mr. A. Holden (L), Club, on the Thames Embankment. Royal Commission on Merchant Shipping gazetted. 6. Bank rate raised to 5 per cent. time by 372 to 232. 7. Franchise Bill read the second Death of Mr. G. C. Leigh, M.P for South Warwickshire. His body was found at the foot of a precipice in the Big Horn Mountains, Wyoming - Dedication of the old Eddystone Lighthouse on its re-erection on Ply-elected President mouth Hoe. 26. Departure of the first Camel Corps for Egypt. 29. Alderman Nottage elected Lord Mayor. OCTOBER. 1. Bicentenary of the death of Corneille celebrated in Paris. 8. Governor Cleveland, Democrat, of the United States. 17. Lords: Earl Granville, on behalf of the Government, offered to submit the draught of the Redistribution Bill on receiving an assurance that the Franchise Bill be pissed. Commons: A similar statement made by Mr. Gladstone, who stated The Duke and Duchess of Edin- that he considered the passing of the burgh pay a visit to Hull. Redistribution Bill as "vital" to the 2. Meeting of the Alsace-Lorraine existence of the Government. Association in Paris, at which a additional 1d. in the £ to the income strong feeling was manifested against tax was agreed to to cover the cost of the policy of forming an alliance with the Nile and Bechuanaland expeGermany against England. ditions. 267. Dudley and Stevens sentenced to death for murder and cannibalism at sea, and respited. 15. Lord Reay appointed Governor of Bombay. Prince Bismarck defeated in the German Reichstag, on a proposal for the salary of a second Director at the Foreign Office. 16. Lord Wolseley arrived at Korti. 18. Lord Pluukes elected Archbishop of Dublin. The Court of Common Council offered a reward of £50.0 for intorthe dynamite cutrage at mation respecting the perpetrators of London Bridge. 22. Official announcement of the annexation by Germany of a portion of New Guinea and adjacent islands Three men sentenced to death at Leipsic for plotting to blow up the German Emperor and his Court at the inauguration of the Niederwald 28. The arrival of General Stewart's column at Gubat, on the Nile, above Metammeh, after a sharp engagement, in which Gen-ral Stewart was wounded. with Khartoum by means of Gordon's Communications opened steamers. 29. Bank rate reduced from 5 to 4 per cent. appointed Bishop of London. Dr. Temple, Bishop of Exeter, FEBRUARY. 1. Occupation of Berti by our troops under General Earle, the enemy having retreated to Berber. 2. Dr. Bickersteth, Dean of Gloucester, appointed Bishop of Exeter; Dr. King, Canon of Christ Church, appointed Bishop of Lincon. O'Donovan Rossa med at and wounded by an Englishwoman named Dudley in New York. 5. Telegram received from Lord Wolseley announcing the fall of Khartoum on Jan. 26. Great excitement throughout the country. 6. Instructions sent tu Lord Wolseley to take what measures he might deem necessary for the further conduct of the war operations. 8. Brindley, a private in the Shropshire Infantry, killed by a comrade on duty, whom he approached in the dark, and without answering the challenge. 9. Reinforcements ordered of 8000 men to the Soudan to open up the Souakim-Berber route. 10. Inteligence received that General Gordon was treacherously murdered on Jan. 26, and the whole of the Khartoum garrison massacred. Engagement at Kerbekan, above Berti, in which General Earle was killed, and the enemy driven from a strong position and completely routed. 12. The Ecclesiastical Commissioners offer Gravel Pit Wood, Highgate (sixty-nine acres), and thirty acres of land at Kilburn to the City Corporation, to be converted into public parks in perpetuity. 17. Naval engagement off Ningpo river: two Chinese vessels sunk by the French. General Stewart died at Gakdul from wounds received in the engageent near Gubat. (Continued on page: 20.) |