Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1901-03-15
YERKES' LONDON RAIL WAYS
Latest RumC Is that He Purchases the Metro
pOhn 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. L. Yerkes left London some
months ago closing the deal for the
purchase Of the Charlng Cross, Euston
and Hampstead road, there has been
scarcely an underground project IN
London which has not been reported
as about to be sold TO the syndicate
which the former Chicago street rail-
way magnate represents. The latest
report, which appears to bear more evil
denoe 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 II 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 at
the then market price. 1t was found
that e265, 900 81, 1876 0O0) would be need
cd.
Another point Is that u 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-
clslon to effect the purchase.
Mr.. Il. w. Perks, who Is solicitor Tor
Mr.. Yerkes, is also one of the largest
stockholders in the District railway
and " 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 eau at
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 10
affirm or deny anything, Even a nat
footed 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 representing Mr.. Yerkes' interests
here for months, declined to confirm or
deny the report, and Mr.. Chapman who
arrived with Mr.. Yerkes, was equally
uncommunicatlve. Mr.. Yerkes' orig
lna intention, as declared few days
after he first arrived in London, year
ago, namely the construction Of UNI
derground electric railways, with sur
face branches throughout the suburbs,
fits exactly with the purchase or the
district railway. This 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 teh system 10 be adopt
ed. Up TO q few weeks ago II was
supposed that the CAM system would
be used, but since then II 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
MIR. 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
obtained control of the Chicago street
railways, namely, the reorganization
Of the company on the basis of making
the old shareholders preferential at
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 10 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 a similar Joint station
az the bank II this is arranged. a
branch line to Westminster and Vie
toria is likely TO be the next project