suggestion by three new locks in 1782.

Development

The navigation prospered, with dividends rising steadily from 5 per cent in 1771 to 13 per cent in 1792. Under the terms of the act of Parliament, tolls were reduced when the dividend exceeded 10 per cent, and the first such reduction occurred in 1791. Improvements continued, and were funded by making calls on the original shareholders. This provided a way to increase their income without exceeding the 10 per cent dividend limit. In 1798 a long cut at Thornhill

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