The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1900-05-02
Has Agents in London Looking
Over the Field.
TO BUILD NINE MILES.
Win Dispose of His Elevated
Stock in Chicago.
Car Magnate Cleared Up $14,-
100000 in the West.

New York, May 2-Charles T.
Yerkes, who recently closed out the
larger part of his Chicago street rail-
way interests to a syndicate of New
Workers, is about to embark in enter
prises in a broader field and on a larger
scale His newest scheme is to build a
line of underground railroad in Lon
don. It is understood that he has en-
gagged several wealthy men of this city
in the enterprise, of which he is the
principal promoter and in which he is
the largest investor. He has agents in
London looking over the ground on lines
which he has formulated, and it is ex-
pected that a beginning viii be made
on the work within a short time.
1t is understood that Mr.. Yerkes' plan
contemplates the building of about nine
miles of underground in district where
needed, and which can reasonably be
expected to return high percentage OF
earnings on the investment.
The enterprise necessarily involves
the expenditure of several millions OF
dollars, though the estimated amount is
not definitely known.
One of Mr.. Yerkes' agents now in
London is D. H. Louderback, president
of the Northwestern and Lake Street
elevated roads in Chicago, in which the
owner. Mr.. Louderback sailed from
New York about three weeks ago, pre-
sumably to confer with London experts
on figures which had been submitted
regarding the project. 1t was then re-
ported that Mr.. Louderback had re-
signed from the management of the ele-
waited roads, but the announcement
proved premature.
1t is said here, however, that he will
resign later to become Yerkes' agent In
the building of the London road when
the plans have been completed and the
time arrives to start the work. He has
been Terkes' representative in the
building of all his Chicago elevated
| lines, and will naturally act in the same
capacity in this instance.
The announcement that Mr.. Yerlkes is
| to engage in new railroad enterprises Is
naturally surprising to those people
who believed that in getting out Of his
| Chicago investments he was preparing
| to retire from active business life.
His career in Chicago, while not
| agreeable in many ways, has been de-
| cfdedly profitable, as he has cleaned up
from $12, 900, 600 to $14 900, 900 in his street
car lines, besides having still the prin-
/ cipal interest in three Of the elevated
properties. He has managed to pull out
of the surface lines also while the hard
! est part of the work on them is still tC
be dOne-the renewal of the franchises
many of which will expire within the
next three or four years. That problem
is left to the gentlemen of the Whitney
EIIxins- Videner syndicate, who are the
| principal owners of the stock of the
| Chicago Union Traction company which
| operates the Yerkes lines in Chicago.
| The understanding here is that Yerkes
| is planning to get out of his elevated
| holdings in Chicago also. and that with
| in a few months negotiations will be
| started looking to the transfer of con
troll of all the elevated lines of Chicago
to the same syndicate that now oper-
ates the larger part of it's surface lines