Troy weekly news. (Troy, Idaho) 1897-1933, 1906-01-05
c. 7. YERKES IS DEAD
NOTED RAILWAY FlNANCIER DIED
In NEW YORK CITY.
Suffered Complication Of Diseases
His Family Present at Deathbed-
Was Born in Philadelphia in 1885,
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 a compli-
cation of diseases growing out of
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 a 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 has 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 rs, 1899 He was educated in
he public schools. He began business
1t the age of II and at 20 was a pri-
'ate banker. In 1861 he purchased {
lis first street railway stock. in 1864
lie assumed millions of PHILADELPHIA
'ity bonds, but failed to carry out his {
He was indicted. found gull {
y, but executive clemency was extend
ID. Later the city council released t
i'm from all debts which afterwards c
lr. Yerkes paid his creditors. He c
rived in Chicago in 1882 and opened t
banking house. In 1856 he made his t
lrst railroad venture in Chicago. He e
hanged the horse cars to a cable sys- |
EN-. He was the first to give the f
lty anything in return for the priv. S
eyes accorded corporations. He gave b
$4,000 telescope to Chicago univer- n
ty. In 1898 he began the consolida- "
on of the Chicago street railwave
1901 he left the city with $4,000 V
OO and went to London where he a
uilt all underground railway He was IL
ewarded with wealth and fame. He o
utgeneraled ]. P. Morgan and asso- D
iates who formed an American syn
Icate in London underground. t;
His Art Collection. &
When Mr.. Yerkes made his will. n
sveral years ago, he announced that ii
had left his collection of pictures Il
nd objects of art and his two houses ii
Fifth avenue and Sixty-eighth street II
New York city to the METROPOLITAN
useum of Art. This property is
orth about S5,00OOO0. The houses
are a veritable art mu- A
'um. 1t is said among his friends
lat this provision of his will remain
unaltered.
Among Mr.. Yerkes' most treasured W
'ssessions is a collection of oriental u
gs that is said to be the finest and Vi
ost costly in the world. It