Note 6 — VI

A curious survival of this state of things is the Manhattan Company, which secured from the legislature a perpetual charter, so skillfully framed (by Aaron Burr) that, although it grants much more extensive powers than could now be obtained by a corporation, it cannot be successfully assailed so long as the fundamental condition is fulfilled,—namely, that the company shall be prepared to furnish water at all times, on demand. It is said that, in compliance with this requirement, a small steam pump is kept continually running, in connection with a short system of pipes, somewhere near the City Hall, and that the company stands ready to furnish water to any applicant—only, the charter does not fix the price which it may exact! So far as I know, the only use now made of the extensive powers granted by this famous charter is the maintenance of the Manhattan Bank. A few years ago, excavations in lower Broadway brought to light bored logs, which were supposed to be relics of the old "Manhattan" system.