Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1902-10-23
WINS
FIGHT WITH
MORGAN
SENSATIONAL DEFEAT CAME
TO AMERICAN MONEY KING
IN HIS LONDON ELECTRIC
CAR SCHEME.

LONDON. oct. H-Dramatics develop
ment I'm the fight for the control of Lon
don's tube" railroads occurred today
when It transpired that Speyer Brothers,
who are financing Charles I. 1erkes
plans. had bought control OF large COM
pany hitherto allied with the Morgan
scheme of transportation, thereby not
only reducing the scope of the Morgan
projected lines by many miles, but actual
ly threatening 1t with literal obliteration'
The latest move in the Morgan-Yerkes
railway was announced at today's ses-
sion Of the house OF commons tubes"
committee.
Sir Edward Clarke, as counsel for the
London United Electric railways, with
drew the bill providing for the construc-
ton of that part of the road covering
the district westward between Hammer
smith and Piccadilly, and southwark be-
tween Chaplain and the city. The Nor
gans had originally Intended to cover
these points as the London United already
had certain powers from the amalgama-
ton end a year ago and Mr.. Morgan
project had passed through parliament
under the title of the London United and
Piccadilly and City railroad.
Balfonr Browne, who is counsel Tor the
Joint bills, expressed surprise In behalf
Of the Morgan interests at Sir Edward
OlaFke announcements MAlCu AooA
nearly half the length of the road over
which he had been arguing for nearly
year, and requested time to consult his
principals. Amid a sensation the commit
tee adjourned.
Mr.. Brown then announced that the
Morgans were ready to go on with such
road as they had left, namely, between
Piccadilly and the city, and that they
would take the earliest opportunity to in
A. Mi ha
which they had so unfairly been deprived
Of Counsel representing the Yerkes in
terest, demanded that the Piccadilly and
City railroad also be withdrawn, as II
had no legal status, having been pre-
scented to parliament as part Of the Lon
don United scheme, since this morning
was non-existant; in other words, |,sSz-'-
ing that the Morgans now had no Il 1stzts
tube project at all.
Counsel for the Morgans demand.l :
verdict on this principal before the house
of commons, saying the committee was
not entitled to deal with the new state OF
affairs.
The chairman, Sir Lewis McIver, after
long consultation with the other members
of the committee, said he would have to
confer the house authorities and post
poned his decision until Thursday.
The Associated Press learns that Gu
ElOuH CndUlGI VI ACN
up to what Mr.. Yerkes terms his coup.
The promoters OF the London United say
that though they were willing to pool
their interests with the Morgan syndicate,
they believed they were better fitted to
control the traffic management of an Eng
lish line than the American firm.
Sir Clinton Dawkins "a partner In the
house of ]. P Morgan & Coz, through
whom the negotiations were conducted,
70
united officials then demanded control of
the arrangements of their own section
of the line. which was also denied in
way, II is limited, that people took to be
sighting and Sir Clinton went to the
United States. 1t is intimated that the
promoters are indignant at what they con-
sidered to be their i'll treatment and ca
bled to Mr.. Yerkes offering him the road.
Mr. Yerkes thereupon cabled them to go
to the Speyers and shortly after Mr..
Yerkes' return, the Speyers bought up the
road. thus blocking the Morgan scheme.