The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-12-29
Charles r. Yerkes, Street Railway
Alagnate Who Died Today.


Young Yerkes was sent to the Quaker
school and afterwards to the central
high school, and left this school to ac-
cept a clerkship in the flour and grain
commission and forwarding house Of
James p. Perot & Brother, at a salary
of nothing q week. This may sound
abrupt but, as a matter of fact, the
lads position was nothing short of that
Of au apprenticeship. He worked. how
ever, with Euch tireless enthusiasm,
that his employers at the end of the year
presented him with the sum of $50 as an
evidence of their appreciation Of his
work.
AT the age of twenty-one he opened
stock brokers' Office on Third street.
Philadelphia. Not only was he sue
cesSfUl. but in three years time had
accumulated enough money to pur-
chase a banking house on the same
street. This was in the year 1851, at
which period government, state and
city bonds were extensively EXCHANGED
the civil war just having commenced.
Banker XeTkes decided to make a
specially of first class bonds. and with
such success that up to the time of his
death he occupied almost a mOnarchial
state i'm the realm of finance.
AS an example of his great fore
sight. it may be added that he, in 1874,
secured virtually all the stock in the
Continental Passenger railway Of
many months thereafter at 100.
In 1880 Mr. Yerkes had his attention
to the fact that gold was not easy
to secure. either in Philadelphia
or New York. He found that most of
lt Went to Chicago. He went west.
doubled his money in the boom at
Fargo, returned to Chicago settled
there and married Miss Adelaide
the daughter of one of Philadelphia s
most respected citizens and man of
great wealth.
M. Yerkes' first move in Chicago
was to open a banking house at the
corner OF La Sale and Madison streets.
lie Inen bought largely in railroad
stocks, and for the last few years vir-
tually controlled the street railways Of
Chicago.
Mr.. Yerkes was also interested large
ly I'm tn etraction affairs of London,
England.
Nr -Yerkes was munidcent in his
benetactions. He gave to the Univer-
slty of Chicago a telescope costing
about 100000 which is said to be one
of the finest in the world and which
is located In the Yerkes observatory
at Lake Geneva, Wis.
He was not society man in the
usual sense Of that word although he
was on the membership list of all of
the important social clubs in the cOun-
try He was essentially a domestic
man and fond of his home and the
companionship of his friends.
Mr.. Yerkes owned a magnificent
residence on upper Fifth avenue, New
York city In this mansion is one of
the most complete and costly art gall
leries of private collection in existence
and it is valued at s2,O0O,0O0 although
many of the paintings have a, price
less value.
Mr. Yerkes business affairs in London
are said to have been recently so ar
ranged that they viii not be jeopardiz-
ed by his death. Discussing these in
terests James Speyer of Speyer & Co.,
said:
I'VE knew when Mr. Yerlxes came
back to this country that he was a
very sick man and would probably
never be able to devote more time to
the companY's affairs Arrangements
We're made at once, therefore to fn his
place and the companies activities
have gone ahead and will continue to
advance along the exact programme
originally determined upon.
Mr.. Ierkes had large financial in
terest in the Underground Electric
Railway company and was chairman of
the board. His interests were never
large enough to make him what might
be called dominant, and others interest
ings. His position in the company was
not such as to leave the company en-
barTa5sed in any way by his death
a cable dispatch from London made
public today says:
f'Wheu Chas. #. Yerkes was seriously
ul last summer extreme precautions
were employed here to prevent the news
of his condition becoming known. The
explanation was that Mr.. Yerkes en-
terprises were so dependent upon 4-ls
personal genius that his death would