New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-11-02
LONDON TRANSIT TRUST|
Electric Railways, Tubes and
Omnibus Line to Fuse.
AFFECTS AMERICAN MONEY
New Company Will Take Over
Traffic Concerns of British
Capital-$165, 100000
Involved. CO..

London, Nov. 1.-The amalgamation of
Londons electric tubes and railroads and
the London General Omnibus Company has
been practically agreed upon, according to
the Evening Standard" Much American
money is invested in the railroads, which
were recognized to a large extent by the
late Charles r. Yerkes.
The omnibus company practically has a
monopoly Of the London street traffic.
The combined capital of the undertakings
is roughly estimated at sl65.0o000o. new
company. the newspaper says, will be
formed to carry out the fusion.
The Central London Railway Company,
the "Tuppenny Tube" was opened for traf-
flc on June q, 1900 and was the first road
in London to he operated by electricity.
1t extended from the Bank through
Holborn. oxford street and the north
erly side of Hyde Park TO shepherd S
Bush, q distance o. six or seven
miles. its lines being fifty to ninety
feet underground About this time the late
Charles r. Yerkes, who in 1899 had disposed
of his traction interests in Chicago, entered
the traction field in London. lie f$med a
syndicate Of English and American hnaa-
cers. which bought largely into the Metro
politan and District Railway. an under
ground line which for many years had been
operated by steam engines. The manage
ment Of the road accepted a proposition
from Ycrkes TO electrify the line. and he
organized company which Carried
through the Improvement. Later lerkes
secured control of other London traction
properties. bringing all Of them under
control of the Underground Electric Rail-
ways Company. which was chartered In
April. 1902. and Of which he was chairman.
The Underground Electric Railways
Company at present controls the Metro
politan & District Railway, the London
Electric Railway Company. the Charlng
| Cross, Euston e. Hampstead Railway and
the Baker street & Waterloo Railway. all
electric roads. and the London United
| Tramways an electric surface traction
system. These lines comprise system
of about 102 miles in length.
SIR Edgar Speyer. of the banking house
OF Speyer Bros. has been chairman of the
Underground Electric Railways Company
since January. 1906. Albert II. Stanley,
formerly general manager of the Public
Service Corporation Of New Jersey. has
| been general manager Of the underground
lines Of the company for the last four
years The various roads comprising tho
Underground Electric Railways system
| carried in 1910 a total Of 230. 1000, 900 pas
sengers.
Within the last few years the pictu-
rescue horse-drawn omnibuses have been
| rapidly retired, owing TO the competition
OF the electric omnibuses. Some OF the
horse omnibus companies have failed
and gone out OF business. and others have
replaced their former equipment with
electric omnibuses. The principal COM
pany IS the London General Omnibus
| Company.
The amalgamation just agreed upon
will result in a system comparable In ex-
tent with that operated in this city before
the Metropolitan and Third Avenue he
| came involved in difficulties.