Underground Electric Railways Company of London | Wikipedia audio article
Channel: wikipedia tts
Date: 18/01/2019

This is an audio version of the Wikipedia Article:
https://en.wikipedia.org/wiki/Underground_Electric_Railways_Company_of_London


00:01:58 1 Establishment
00:02:07 1.1 Background
00:04:00 1.2 Acquisitions
00:07:16 1.3 Finances
00:08:42 2 Engineering works
00:08:51 2.1 Electrification of the District Railway
00:11:58 2.2 Construction of the tube railways
00:14:13 3 Operation
00:14:22 3.1 Early struggle for survival
00:16:59 3.2 Consolidation
00:19:10 3.3 Extensions and improvements
00:21:09 4 Move to public ownership
00:23:00 5 See also
00:23:18 6 Notes and references



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SUMMARY
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The Underground Electric Railways Company of London Limited (UERL), known operationally as the Underground for much of its existence, was established in 1902. It was the holding company for the three deep-level "tube" underground railway lines opened in London during 1906 and 1907: the Baker Street and Waterloo Railway, the Charing Cross, Euston and Hampstead Railway and the Great Northern, Piccadilly and Brompton Railway. It was also the parent company from 1902 of the District Railway, which it electrified between 1903 and 1905. The UERL is a precursor of today's London Underground; its three tube lines form the central sections of today's Bakerloo, Northern and Piccadilly lines.
The UERL struggled financially in the first years after the opening of its lines and narrowly avoided bankruptcy in 1908 by restructuring its debt. A policy of expansion by acquisition was followed before World War I, so that the company came to operate the majority of the underground railway lines in and around London. It also controlled large bus and tram fleets, the profits from which subsidised the financially weaker railways. After the war, railway extensions took the UERL's services out into suburban areas to stimulate additional passenger numbers, so that, by the early 1930s, the company's lines stretched beyond the County of London and served destinations in Middlesex, Essex, Hertfordshire and Surrey.
In the 1920s, competition from small unregulated bus operators reduced the profitability of the road transport operations, leading the UERL's directors to seek government regulation. This led to the establishment of the London Passenger Transport Board in 1933, which absorbed the UERL and all of the independent and municipally operated railway, bus and tram services in the London area.