Barre evening telegram. (Barre, Vt.) 1898-19??, 1902-10-22
bLON. DEALT MORGAN
Yerkes Nay Completely Block His
Tube Railroad Scheme.
BUYS OUT A MORGAN ALLY,
A. n Result the SCENE of the Pro-
icrtcd London Line Ia l Threat
cnca with IUtal Legal
ohi,feration.

London. Uct. o. y dramatic develop
uWu IN the fight for the control Of
I.oudun'> milo railroads occurred when
" trHu~Dircd that Sperer Bros. WHO
are financing Charles f. Yelkes' plans,
had bought control Of large company
hitherto allied with the Moraans'
scheme of transportation. thereby not
OILY reducing TIE scope Of the Nor
.ai>' projected line by many miles.
hut actually threatening it with legal
ohlitcration.
The latest move in this Morgan
Yorkcs rivalry WAS announced At
session Of the house Of commons tubes
committee lay Sir Edward Clarke. who,
~ counsel fer the London United Flee
tric railways. Withdrew The bill proyd-
iu@ for the construction of the road
which up to NOW had always been part
of tine Mor@uHS' line and covered the
, district westward between Hammer
smith and piccadilly and southwark
between Chaplain and the CITY, The
Morgans had originally intended to
cover these points. but as The London
United already had certain powers from
+ he amalgamaton effected a year ago
md the MorganS project had passed
| through parliament under the title Of
the London United and Piccadilly and
| City railroad, Balfour Browne. who is
counsel for the joint bills. expressed
surprise in behalf of the Morgan inter
ests at Sir Edward CIarke's announce
ment, which left him scarcely half the
| length of the road over which he had
| been arguing for nearly year. and re
quested time to consult his principals.
Amid a sensation the committee add
| journed. Mr.. Browne then announced
| that the Molgans were ready to 60 On
with such road as they had left-name-
| ly, between Pccadilly and the City
| and that they would take the earliest
| opportunity to introduce a new bill
| asking for the powers which they had
so unexpectedly been deprived of by
the detection of the London United ow-
| ing to the Speyers securing control of
it.
Another Move by Yerkes.
Counsel representing the Yerkes in
terest demanded that the Piccadilly
and City road must also be withdrawn,
as it had now no legal status, having
been presented to parliament as part
| Of the London United scheme, which
| now was nonexistent-in other words,
declaring that the Morgans now had
no 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 long consultation with the 9TH
| or members of the committee said he
would have toreport the circumstances
to the house authorities and postponed
his decision until Thursday.
Ii is learned that curious chapter
OF misunderstanding led up to what
! Mr.. Ierkes terms his coup" The
| promoters Of the London United say
| that. though t'hey were willing to pool
believed they were better fitted to
control tie traffic management of an
English line than the American firm.
Sir Clinton Dawkihs Ga partner in the
house of J. s. Morgan 4 Coz. through
whom the negotiations We're conduct
ed. refused to agree to this. and the
United officials then demanded con
troll of the arrangements of their OWL
section of the IiIIo. which was also
denied in ii way. ri is limited. that PEG
pie took to lie sighting, and Sir Gin.
ton went to the United States
1t is ntimated that the promoters
were Indignant at what they consid-
cred to I've their IN treatment and
cahled to Mr.. Yerkes offering him the
road. Mr.. Yerkes ,hereupon cabed
them to 80 to the Spevers and shortly
after Mr.. Ycrkes' return the Speyers
bought up the road. thus blocking the
MOrgans' scheme.
u. Pierpont Morgan mas met his
second defeat in this country within
month" says the Star. The first was
the Cunard subsidy: the second was
the smashup of his great London
tube scheme