Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1901-03-15
YERKES' LONDON RAILWAYS
Latest Rumor Is that He Purchases the Metro
poltan District Railway,
Parliament Must Grant Further Pow-
ers Before work Of Con-
struction begins.

New York March ia dispatch to
the Herald from London says:
Since c. 4, Yerkes left London some
months ago closing the deal for the
purchase Of the Charing Cross. Euston
and Hampstead road, there has been
scarcely an underground project In
London which has not been reported
as about TO be sold 70 the syndicate
which the former Chicago street rail
way magnate represents. The latest
report, which appears to bear more evil
dence Of truth than any other, is that
he has acquired a controlling interest
IN the Metropolitan District railway
and II the deal is not already consum-
mated 1t Will be in few days.
II Is said TO be the reason for his last
visit and Mr. Yerkes went grossly into
the figures TO effect this purchase al
the then market price, II was found
that e265, 900 (S1,S25,OOO) would be need
ed
Another point Is that representa-
tive Of the Yerkes interests had been
given a prominent position In the man
agement of the road. His representa-
tive is said to have confirmed the de-
cision to effect the purchase.
Mr. h. w. Perks, who is solicitor Tor
Mr. Yerkes, is also one of the largest
stockholders In the District railway
and Is understood to have engineered
the deal, which has been conducted by
private purchases Instead OF In the
open market through the stock ex-
change. As leading strength TO these
reports, one OF the first men to call az
the Hotel Cecil, where Mr.. Yerkes TOOK
the precaution not to register upon the
occasion OF his recent arrival, was MI.
Perks, and his stay extended several
hours.
TO all inquiries for information as he
was leaving the hotel, Mr.. Perks replied
with a polite but emphatic refusal 70
affirm or deny anything, Even nat
footed question whether Mr.. ferkes
had bought the district railway, met
with the reply that he could say moth
ing.
Messrs. Abel and Davies. who have
been representing Mr.. Yerkes interests
here for months, declined to confirm or
deny the report, and Mr.. Chapman, VINO
arrived with Mr. Yerkes, was equally
uncommunicatiye Mr.. Yerkes' orig
inal intention. as declared few days
after he first arrived In London, year
ago, namely the construction OF un-
derground electric railways, with sur
face branches throughout the suburbs,
fits exactly with the purchase OF the
district railway. This line already
taps every suburb. besides connecting
with every trunk line entering London.
A schame for electrical equipment mas
been ulder consideration for months
past. though no decision has yet been
reached as to teh system to be adopt
ed. Up TO a few weeks ago II was
that the CAM system would
be used, but since then 1t Is understood
this plan has been dropped In favor
Of an American system
Persons claiming to be well-informed
about the deal state that the Widener-
Elkins syndicate Is at the bottom OF
this latest invasion OF London and that
Mr. Ryan Is likely to take up his resi-
dence In London before long as the ac-
tive manager of the combination.
The plans are said to be a duplica-
ton of those adopted when Mr. Yerkes
control Of the Chicago street
namely, the REORGANIZATION
OF the company on the basis of making
the old shareholders preferential al
at fixed rates of dividends, raising by
bonds funds to equip the line electric
ally and build the extensions and the
formation OF a construction company
TO do the work, receiving Its pay In
bonds Of the new company.
In connection with the Charing Cross,
Euston and Hampstead line, additional
powers are needed from parliament be-
fore the work OF construction Is likely |
to begin. Two bills to this effect are |
already before parliament.
Some arrangement may be effected |
with the Baker street and Waterloo line
in the shape of joint station at Char
ing Cross. and similar Joint station
Al the bank. II this Is arranged,
branch line to Westminster and Vic
Ioria is likely 10 be the next project.