Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1886-03-27
A BIG PURCHASE.
Mr.. Drexel and Others Said to Have Paid
81, 75O, 900 for the Control of Chicago
Street Railway.

MIR. Drexel and Others Said to Have Pal
S1,70O, 900 for the Control of Chicag
Street Railway.
q! CHICAGO, March 25.-Jake Rehm, tn
Northside millionaire, toddled into tn
residence Of q friend last night at 9 o'clocl
apparently in an advanced state of wear
ness, His face was flushed, he moppet
the perspiration from his brow with hand
kerchief, took of his coat and hat and re
marked to his friend: Warm. isn't it
Worked pretty hard this morning"
He then passed into rear room and sal
down at table, around which gathered @
group Of interesting auditors to listen tc
the story Of one Of the largest cash
financial transactions that has occurred in
this city for years. Just before Mr.. Rehm
visited the resort he had spent few hours
in personally counting 81, $50 900 in 81 :
900 bills. This accounted for the perspira-
ton.
Yesterday afternoon this celebrated man
met number OF 6nanciers in the presi.
dents Office of the, Merchants Loan and
Trust eompanSs Bank Among those
present were Volney G. Turner, president
Of the North Chicago City Railway Com
pany, of which Mr.. Rhem was vice p,esi-
dent and the largest stockholder, and Mr..
c. T. Yerkes, Jr., formerly of Philadelphia,
but now of Chicago. The latter said he
represented Mr.. A. j. Drexel, of Philadel-
phis, who was one Of syndicate OF Quaker
City capitalists purchasing MIR. Rehm's
and Mr.. Turner'S stock in the company
and securing control Of this extensive cor
porstion.
Mr.. Rehm Owned 40 per cent OF the
stock, while Mr.. Turner owned, perhaps,
10 per cent. in his own name and con-
trolled per cent. more for his relatives
The two chief officers of the road had 55
per cent. Of the stock. That was all the
syndicate wanted, being o controlling in
terest, so they boughtit, paying the amount
cash down. Mr.. Rehm insisted on hand
ling it. too. He went through the bundle
carefully, moisteniug bis right thumb be
fore applying it to the roll and pulling
each bill slowly along the thumb nail Of
his left hand Then he made sure that
every bill Represented 1000, and altogeth-
er made such hard job Of it that he vas
enabled to sleep the sleep Of the just last
night at his home on Centre street.
When he had counted all the money
through he divided it up, putting his bills
into one pile and Mr.. Turner into another.
Mr.. Rehm then aecared tin box and car
ried his bale of bills to another bank. He
saw the wealth safely placed in vault, the
key OF which he pocketed, aud then depart.
ed. All this was what caused Mr.. Rebm
to remark upon the high temperature OF the
evening.
Mr.. Yerkes hiss been elected president
Of the company, and will take charge Of il
Neither Mr.. Rehm nor Mr.. Turner retain
any interest whatever The amount of
money paid for the road wonld trighten the
men who built it twenty-five years ego.
1t was started ip 1861, and very humble
beginning it had. The tracks were first
laid only on Clark street., but they are now
on half the streets on the North Side, and
may be on the other half before very long
Lsst year the road paid dividend OF 60
per cept-l0 in cash and so in bonds.