Lord Woldo was one of the richest human beings in England--and
incidentally he was very human. If he had been in a position to realise
all his assets and go to America with the ready money, his wealth was
such that even amid the luxurious society of Pittsburg he could have cut
quite a figure for some time. He owned a great deal of the land between
Oxford Street and Regent Street, and again a number of the valuable
squares north of Oxford Street were his, and as for Edgware Road--just
as auctioneers advertise a couple of miles of trout-stream or
salmon-river as a pleasing adjunct to a country estate, so, had Lord
Woldo’s estate come under the hammer, a couple of miles of Edgware Road
might have been advertised as among its charms. Lord Woldo owned four
theatres, and to each theatre he had his private entrance, and in each
theatre his private box, over which the management had no sway. The
Woldos in their leases had always insisted on this.
He never built in London; his business was to let land for others to
build upon, the condition being that what others built should ultimately
belong to him. Thousands of people in London were only too delighted to
build on these terms: he could pick and choose his builders. (The
astute Edward Henry himself, for example, wanted furiously to build for
him, and was angry because obstacles stood in the path of his desire.)
It was constantly happening that under legal agreements some fine
erection put up by another hand came into the absolute possession of
Lord Woldo without one halfpenny of expense to Lord Woldo. Now and then
a whole street would thus tumble all complete into his hands. The
system, most agreeable for Lord Woldo and about a dozen other landlords
in London, was called the leasehold system; and when Lord Woldo became
the proprietor of some bricks and mortar that had cost him nothing, it
was said that one of Lord Woldo’s leases had "fallen in," and everybody
was quite satisfied by this phrase.
In the provinces, besides castles, forests, and moors, Lord Woldo owned
many acres of land under which was coal, and he allowed enterprising
persons to dig deep for this coal, and often explode themselves to death
in the adventure, on the understanding that they paid him sixpence for
every ton of coal brought to the surface, whether they made any profit
on it or not. This arrangement was called "mining rights"--another
phrase that apparently satisfied everybody.
Public-domain text, read in full here on John Shaqi.
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