Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1901-03-15
ELECTRIC ROADS
AMERICANS WILL CONTROL ALL
LONDON TRAVEL.
ALL THE NEW TUNNEL ROADS
But the Magnates Will Not Talk
Electric Power Used Instead
of Steam.
New York. March ia dispatch to
The Herald from London saws:

New York, March ia dispatch to
The Herald from London says:
Since c. T. YerkeS left London, some
months after closing the deal for the
purchase of the Charing Cross. Euston
d Hampstead road, there has been
scarcely an underground project which
has not been reported as about to be
sold to the syndicate which the former
Chicago street railway magnate repre-
SCENTS. The latest report, which appears
to bear more evidence of truth than any
either, is that he has acquired a coa-
trolling interest in the Metropolitan
District railway, and if the deal is not
already consummated it will be in a few
days.
1t is said to be the reason for his last
visit. and Mr.. Yerkes went grossly into
the figures to effect this purchase at ~
then market price. 1t was found that
G265, 900 would be needed.
Another point is that a representative
of the Yerkes interest had been given a
prominent position in the management
of the road. His representative is said
to have confirmed the decision to effect
the purchase.
II. w. Perks, who is solicitor for MI
Yerkes is also one of the largest stock
holders in the District railway and is
understood to have engineered the deal,
with has been conducted by private
purchase instead Of in the open market
through THE stock exchange.
AS lending strength to those 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
1oox- al WIG
with polite but emphatic refusal to
affirm or deny anything. Even a flat
footed question. whether Mr. Yerkes had
bought the District railway, met With
THE reply that he could say nothing.
Messrs. Abel and Davies, who have
been representing Mr.. Yerkes' interests
here for months, declined to confirm or
deny the report, and Mr.. Chapman, who
also conferred with MIR. Yerkes, was
equally uncommunicative.
The District line already taps every
suburb, besides connecting with every
trunk line entering London.
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 ut was sup
posed that the CAM system would be
used, but since then it is understood this
plan mas been dropped in favor of am
other American system
Persons Claiming to be We'll Informed
say that the Widener- ElkinS syndicate
ds behind the scheme.
The plans are said TO be a duplicati On
of those adopted when Mr.. Yerkes OBJ
tanned control of the Chicago street rail-
ways namely, the reorganization o.
the company on a basis of making the
old shareholders preferential and fixed
rates of dividends. raising by boncs
funds to equip the line electrically aid
build the extensions and the formation
of a construction company to do the
work, receiving it's pay in bonds of the
new company.
In connection with the Charng Cross,
Euston & Hampstead line, additional
powers are needed from. parliament be-
fore the work of construction lis Likely
to begin. Two bills to this effect are al
ready before parliament.
Some arrangements may be erected
tth the Baker street and Waterloo lin!
in the shape of joint station at Char
ing Cross and similar joint station al
the bank. If this is arranged, branch
line to Westminster and Victoria is very
likely to be the next project.