The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1902-10-23
RAILROAD NEWS.
]. Pierpont Morgan Has Met a
Master.
Yerkes and the Speyers Control
London Railways.
MAD AT MIR. MORGAN.
British Company Sells to Yerkes
for Revenge.
MAD AT MIR. MORGAN.
Probable Collapse of Morgan's
Great " Tube" Scheme.

London, Oct. 23.-CharieS 7. YerkeS
of Chicago has outgeneraled ]. Pierpont
Morgan Of New York in the fight for
control of London underground rapid
transit systems. Yerkes has secured
control of a large company allied with
the Morgan system.
1t was announced today that the
Yerkes syndicate had secured control of
the London United Electric Railway
company covering the district west
ward between HammerSmith and Pic
cadilly. and southwark between Clap
ham and the city. This company
has all along been allied with the Nor
gan syndicate. It's secession reduces
the contemplated mileage by nearly
one-half.
Net only has Morgan lost nearly half
of MS proposed rapid transit system but
he is threatened with the legal oblitera-
ton Of the rest of his system, a demand
having been made on parliament for
withdrawal of the charter of the Pic
cadilly and City road.
1t is pointed out that this is the second
defeat for ] Pieropnt Morgan in London
within q month. The first was the Gu
nard subsidy and now comes a smash
up in his great London tube" scheme.
The HerkeS coup was made public at
today's session of the tube" committee
appointed by the house of commons,
when Sir Edward Clarke. as counsel for
the London United Electric railways,
withdrew the bill providing for the con
ing the district westward between Ham
mersmith and Piccadilly and southwark
between Chaplain and the city. The
Morgans had originally intended to COW
er these points. as the London United
already had certain powers from the
ANAL gamation effected a year ago, and
the Morgan project had passed through
parliament under the title of the Lon
con United and Piccadilly and City rail-
road.
Balfour Browne, who is counsel for the
joint bills, expressed surprise in behalf
of the Morgan interests at Sir Edward
Clarke's announcement, which left him
scarcely half the length of the road over
which he had been arguing for nearly
a year, and requested time to consult
his principals.
Amid a sensation the committee ad-
jOurned. Mr. Browne then announced
that the Morgans were ready to go on
with such part of the road as they had
left, namely between Piccadilly and the
city, and that they would take the
earliest opportunity to inroduce a new
bill asking for the powers which they
mad so unexpectedly been deprived of
by the detection of the London United
Counsel representing the Yerkes in
terest demanded that the Pfccadilly and
city road also be withdrawn, as it had
no legal status, having been presented
to parliament as part of the London
United scheme. which since this morn
ing, was nOneXiStent; in other words de-
legalized tube project at all.
Counsel for the Morgans demanded a
verdict on this point from the whole
house of commons. saying the commit
tee was not entitled to deal with the
new state OF affairs
The chairman, Sir Lewis -McIver. after
a Ions consultation with the other mem
bers of the committee said he
would have to report the circumstances
to the house authorities, and postponed
his decision until THURSDAY
me promoters of the London United
company say that though they were
willing to pool their interests with Nor
gan, they believed they were better fit
ted to control the traffic management
OF an English line than the American
firm. Sir Clinton Dawkins "a partner in
the house Of J. P. Morgan & Coz, through
whom the negotiations were conducted.
refused to agree to this, and the United
officials then demanded control of the
arrangements of their own section of
the line. which was also denied The
promoters We're indignant at what they
considered to be their i'll treatment. and
cabled to Mr.. Yerkes, Offering him the
road Mr.. -Yerkes thereupon cabled them
to go to the SDeyers. and shortly after
Mr.. Yerkes' return the Spevers bought
up the road. thus blocking the Morgan
scheme.