The Kendrick gazette. [volume] (Kendrick, Idaho) 1892-1968, 1906-01-05
Ct. YfRkEs IS DEAD
NOTED RAILWAY FINANCIER DIED
In new YORK CITY.
Suffered Complication Of Diseases
His Family Present at Deathbed--
Was Born In Philadelphia In 1880
Made His Fortune In chicago-He
Built Railways in London.

Charles T. Yerkes, the noted rail-
way financier of Chicago and London,
died Friday in his apartments at the
Waldorf-Astoria hotel in New York
city, where he has been i'll for more
than six weeks.
Mr.. Yerkes suffered from compli-
cation of diseases growing out of a
severe cold which he contracted in
London early in the fall.
At the death bed were Mrs. Charles
T. Yerkes, his wife; Charles Edward
Yerkes, son, and his wife; Mrs.
Charles Ronda Miller. a daughter, and
the physician. The death was peace
full, but unexpected at the time.
Mr.. Yerkes' residence is at Sixty
eighth and Fifth avenue. Speyer &
Co., the New York banking firm, which
had much to do with the New York
financing of Mr.. Yerkes' affairs, made
the following statement:
"The death of Mr.. Yerkes is partic-
ularly sad, coming at time when his
great work in connection with the Lon
don underground street railway was
rapidly approaching completion and
important portions of it were being
put in operation. Mr.. Yerkes' failing
health had warned him and the bank
ers associated with the enterprise
that arrangements should be made for
relieving him of portion of his work
or for completing and carrying it out
in case of his death. These arrange.
ments have been perfected and will
be announced at the proper time"
His Biography.
He was born in Philadelphia, on
June 25, 1889. He was educated in
the public schools. He began business
at the age of II and at 20 was a pri-
vate banker. In 1851 he purchased
his first street railway stock. In 1854
he assumed millions of Philadelphia
city bonds, but failed to carry out his
contract. He was indicted, found gull
ty, but executive clemency was extend
ed. Later the city council released
him from all debts which afterwards
Mr.. Yerkes paid his creditors. He
arrived in Chicago in 1882 and opened
banking house. In 1856 he made his
first railroad venture in Chicago. He
changed the horse cars to cable sys-
TEN. He was the first to give the
city anything in return for the priv.
ileges accorded corporations. He gave
$4,000 telescope to Chicago univer.
sity. In 1898 he began the consolida
ton of the Chicago street railways
In 1901 he left the city with $4,000,
900 and went to London where he
built all underground railway. He was
rewarded with wealth and fame. He
outgeneraled ]. P. Morgan and asso
ciates who formed an American syn
dictate in London underground.
His Art Collection.
When Mr.. Yerkes made his will
several years ago, he announced that
he had left his collection of pictures
and objects of art and his two houses
at Fifth avenue and Sixty-eighth street
in New York city to the Metropolitan
Museum of Art. This property is
worth about $5,O00,0OO. The houses
themselves are a veritable art mu
scum. 1t is said among his friends
that this provision of his will remain
ed unaltered.
Among Mr.. Yerkes' most treasured
possessions is collection of oriental
rugs that is said to be the finest and
most costly in the world.