The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1901-03-15
ALL EYES
ON YERKES
London Is Aghast at the Mill
liOnaire's Movements.
Watching to See What He VIII
Do Next.
HE SEEMS TO PLAN.
Acquisition of the Entire Urban
Transportation Business.
Widener- Elkins Syndicate Prob
ably in the Deal.

New York. March ia dispatch to
the Herald from London says:
Since c. T. Yerkes left London some
months ago. after 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 al
about to be sold to the syndicate which
the former Chicago street railway mag
nate represents. The latest report,
which appears to bear more evidence of
truth than any other, is that he has ac-
quired a controlling interest in the
Metropolitan district railway, and that
if the deal is not already consummated
it will be in a. few days.
1t is known that on the occasion of
his last visit Mr.. YerSes went closely
into the figures of the amount of cap
ital required to effect this purchase at
the market prices. 1t was found that
E265s GOO ($1,325,0 ,000) would be needed
Another point is that representative of
the Yerkes interests has been given a
prominent position in the management
of the road. This representative is said
to have confirmed the decision to effect
the purchase.
Mr. r. w Perks, who is solicitor for
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 pri-
vate purchases instead of in the open
market through the stock exchange.
AS lending strength tn the reports, one
of the first men to call at the Hotel
Cecil where Mr.. YerkeS took the pre-
caution not to register, upon the occa-
sion of his recent arrival, was Mr.. Perks,
and his stay extended several hours.
To all inquiries for information as he
was leaving the hotel Mr.. Perks re-
piled with a polite but emphatic refusal
to affirm or deny anything. Even a
f1atfooted question whether Mr. Yerkes
had bought the district railway met
with the reply that he could say moth
ing.
Messrs. Abel and Davies. who have been
reDresenting Mr. Y'erlxts' interests here
for months. declined to confirm or deny
the report and Mr.. Chapman who arrived
give %tR Mr. Mr. as oraa T9n nfenton as
declared few days after he first arrived
in London a year ago. namely the con
struction of underground electric rail-
the suburbs fits exactly with the pur-
chase of the District railway This line
already taps every suburb besides con-
Meeting with every trunk line entering
A scheme for electrical equipment has
been under consideration for months past,
though no decision has yet been reached
as to the system to be adopted Up to
a few weeks ago 1t was supposed that the
CAM system would be used. but since
then, it lie 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-El-
lxins syndicate is at the bottom of this
Ryan is likely to take up his residence
in London before long as the active man
ager of the combination.
The rlans- are said, tc be duplication
of those adopted when Mr.. Yerkes OBJ
tanned control Of the Chicago street rail-
ways, namely, the reorganization of the
company on the basis of making old
shareholders preferential at fixed rates
of dividends. raising by bonds funds to
equip the line electrically and build the
extensions and the formation of con-
struction company to do the work, re-
ceiving its pay in bonds of the new COM
pany-
In connection with the Charing Cross,
EustOn & Hampstead line, additional pow
ers are needed from parliament before the
work of construction is likely to begin
Two bills to this effect are already before
the parliament
Some arrangement may be effected with
the Baker street and Waterloo line in the
shape of a joint station at Charing Cross
and a similar station at the bank. If
this is arranged a branch line to West
minister and Victoria is likely to be the
next project.