The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-01-18
Our MiIIionaires
Fight in London

Special to The Globe.
LONDON, Jan. 17.-Londoners read
the accounts Of the annoyance to which
tnterurban passengers are subjected in
American surface and L cars with min
gled feelings of comniseration and
satisfaction.
Because two American millionaires
have thought fit to fight each other
over obtaining franchises for the ex-
tension of London's tube system 1t will
now be necessary to wait another year,
perhaps more before the question can
be definitely dealt with by parliament.
The battle of these two Croesuses
is looked upon with much disfavor by
parliamentarians and though the glur
of passenger traffic has not yet reached
the acute phase here that it has done
in New York the situation may be pre-
cipftated before such extensions as are
needed can be built.
Morgan has already spent 100000
for parliamentary expenses and is at
the present moment out in the cold
entirely because his shrewd opponent
Yerkes, stole a march on him last year
by acquiring a heavy interest in the
London United Tramways company.
AS the parliamentary committee had
already decided without the co-epera-
ton of the tramways company Morgan
could not fulfill the promises made to
the house of lords the only remedy left
him was that he will have the chance,
although badly handicapped, TO try
again next session.
This battle of wits between the two
millionaires has been one of the sharp
est drawn contests ever fought in the
has spent vast sums for promotion,
had reached position where he
thought that no one could dispute his
future chance to become king of the
London Tubes the hand of Morgan ap-
peared.
1t was when the bills engineered in
the Yerkes interest were brought be-
fore the parliament of 1901-1902 that
the presence of EIr. Morgan in the
tube field was discovered. 1t was soon
apparent that the great financier was
to be counted upon as a lively COM
petitor in this connection.
The start which Yerlxes had secured
served him in good stead, for he had
not only bought out or converted a
number of promising projections but
the lines over which he had obtained
control were so fortunately connected
with the main lines of steam traffic
that he practically held the key to
an embryo interurban tubular system
The situation at the present moment
is most unsatisfactory to the public
and the threat that the London county
council may take matters into its own
hand and carry out the projected i'm
prOVements may after all prove to be
no idle boast, for if the present stag
nation in development is carried over
any particular length of time, public
opinion viii he rO11Cp6 10 c1,cI,
that the Inherent prejudice against
municipal ownership may be overcome
and the scheme actually carried out
by the city.
Judging by the results of municipal
ownership of street car lines in GIas-
cow and other cities, the public would
pc the gamer by such a step, although
1t would require a spur of some serious
character to make them understand
Such gigantic step, and there must
also be considered the fact that some
pledges at least have been made to the
American millionaires.
AT any rate there is little doubt they
VIII both be in evidence again this
year. Yerkes is expected to try next
session to obtain the favors which
Morgan failed to get over the route he
sought to control and those who know
the latter say that he certainly will not
give up the game under the circum-
0IeIiCeS' MI. MOfSaflS case IS some
what complicated by the fact that the
Central London Railway company is
seeking to obtain concessions similar
to those he seeks and has determined
to make a strong fight for them next
session. Mr. Morgan's best plan would
therefore appear to be to get control
OF this company which would be one
step forward out of the difficulties
which encompass his path.
The great advantage enjoyed by the
American financiers seems to eb that
they enjoy unlimited capabilities for
raising money with which to carry OH
their schemes while the local promo
tiers are less capable in this direction.
The feeling now is pretty bitter
against them, as after all the booming
their schemes have received their
quarrels before the parliamentary
committee have given London Rapid
Transit the most important setback
that it has had in years.
1t is even though and suggested that
If the fight is renewed next year par
lament may take a hand in matters
which may be more drastic than is
expected.