Loch Katrine aqueduct

Rankine and Thomson created a joint-stock company in an effort to raise the capital necessary to build the Loch Katrine aqueduct and the associated distribution system, but in light of the competition from two incumbent firms, few people were willing to invest in such a large and risky venture. Unable to raise the money in private capital markets, the two visionaries wrote a lengthy letter to the Glasgow Town Council recommending that the council take stock in the company and operate it as a municipal enterprise. Although Rankine and Thomson were... 

Of course, those who favored municipal ownership hired their own experts and chemists to challenge the work of Professor Penny. Building a model that was designed to mimic the ultimate Loch Katrine aqueduct, these chemists examined the lead solvency of the water after it passed through the model aqueduct and distribution pipes. This approach was taken because many observers believed that the lead solvency of water was altered by contact with other metals and stones. The upshot of the... 

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