New-York tribune., 1908-04-17
COINENT IS FATORABLE.
London Press ApproUes Speyer
Plan for the Underground.

London. April 16.-Press comments on the Lon
don underground scheme. published by the board,
are favorable THE Times" says:
The scheme was well received. on the whole,
ers and their allies have acted in a manner wor-
Thy OF their reputation in offering to provide cash
10 meet the Interest on some Of the bonds 10 be
exchanged for the existing notes.
The Daily Telegraph says:
Had the late Mr. Yerkes had better conception
OF London ways things, might have gone differ
emily and If he had applied in the first stages for
such the LONDON & s0gth Western, the Great Great
the new tubes are important feeders, the cost 70
the underground electric company might nave been
c4go eTper'fGe I al 10 II abs I the london tTaveiIing
aI,6c nb EeaIiz the merits Of the tubes The worst
however. must now have been faced by those who
# will be strange if the underground electric lines
s9ndeo a9 ao' S'sia an adequate ''D-" -'
The Economist" says:
There will be general satisfaction that the scheme
now put forward by the Messrs Speyer for deal
75,,d ing wH m9 tos Is st one s1eieny generous
and sufficiently promising 10 insure its acceptance
priye Of Mr. Yerkes. an American n1agnate VINO.
deal OF capital In his scheme, though unf6rtu-
nat toly he dd not take the steps necesSaTy to Sc
cure their financial success. He based his esti-
mates mainly upon the experience Of NeH 4y- York
habits OF d2nGnsrs % 7 % Ne made M no nrsIfr1n3Tv
va q cornanjss He had not even the sense 90
ACQUIRE tracts Of land whose value has been enor
-bere is Still great deaf Of American capital in
this enterprise It IS just as Vel that investors on
the III success that mas hitherto logged the under
taking is due 70 the initial hlurders. and certainly
not TO subsequent management
The statist" says
There can be no doubt that the scheme has been
drawn up with the single object OF fully safeguard
ing the interests OF the note holders. No better
plan could we think. have been propounded, and
Fr,IIv IOf0
advisory committees that have been formed IN
London and in Annsterdar1. The nistortunes OF tne
Underground Electric Railways Company OF Lon
don cannot ne attributed any single cause They
are number OF deyelopnlerlts quite oeHoIo
the power OF any one 70 toresee, but the nlagnl-
fude Of the loss has I'm the main resulted from the
oversanguine views of the promoters OF the enter
,rise concerning the rate Of the development Of
Po0do1 ira nc and in some measure 70 the fact
that portions Of the railways have been con
srr1ctei through districts where there was INSULT
cianf ira nc 10 support expensive tube rail
wav although the railway will IN tlr1e ltseH create
+he rraffc The traffic did not await the railway
Tbe Central London Railway. which was quite ex-
ceD+ionsI;v situated. threw a glamour over tubes
- peannra and persons in the United States who
were insuf1cientiy acquainted with the coTdIloIlS
~ ondon imagined that in view OF the great
GIIate means Of communication between the varl-
Gus parts Of the +etronos tubes c9IsLruCLeG 4-s II
In fact il was very difficult for those not coseiy
acauainted with Jae a5on and Liver1ooi
we're not New York and CHICAGO, and that t EngSn 81;
habits Of movement and OF expenditure dIIer - ~
and Of expenditure in those two progressiTs AneT r.
can cities After several years ,, ~ 1S great
| difference between the factors which mad 70 2e
| considered with regard 10 London trdfnc ana we
~ "a nc Of Chicago. There indeed be no
| doubt that had MI Yerkes snent as HiaHy Sea1
,-c2HI IT ~, The I-ndereround Electric Railways
| Company OF Lordon would never nave peeA '4-'-