. The street railway review . othecate street railway stock as collateralwith banks was unknown, and it was not until 10 years after, in theearly 70s, that the banks would look at them. The dividends in themeantime were generally fair, particularly with companies doing 3 756 STREET RAILWAY REVIEW. [Vol. IX, No. ii. Charles T. Yerkes was born June 25, 1837, in the city of Phila-delphia, of Quaker parents, and his early education was receivedin Quaker schools. After establishing and putting upon a success-ful basis, a banking and brokerage house in Philadelphia, he cameto Chicago in 1881. for th
. The street railway review . othecate street railway stock as collateralwith banks was unknown, and it was not until 10 years after, in theearly 70s, that the banks would look at them. The dividends in themeantime were generally fair, particularly with companies doing 3 756 STREET RAILWAY REVIEW. [Vol. IX, No. ii. Charles T. Yerkes was born June 25, 1837, in the city of Phila-delphia, of Quaker parents, and his early education was receivedin Quaker schools. After establishing and putting upon a success-ful basis, a banking and brokerage house in Philadelphia, he cameto Chicago in 1881. for the purpose of starting a Chicago branch ofthis business. While here Mr, Yerkes early realized the possibilitiesfor investment that were offered by the transportation systems ofthe city, and in 1886 he succeeded in gaining control of the NorthSide lines and reorganized the company as the North ChicagoStreet Railroad Co. Two years later he purchased the West Sidesystems. The substitution of cable and electricity for the horse on. luarles t. yerkes. all these lines, and the extension of branches out across the prairies,began at once after Mr. Yerkes secured control and has continuedto a greater or less degree ever since. Mr. Yerkes next turnedhis attention to the elevated roads and organized the Union ElevateRailroad Co. to build the down town loop connecting all the ele-vated systems; he is also the controlling spirit in the Lake Streetand Northwestern Elevated roads. He has within the past fewmonths sold his interests in the North and West side surface lines,and is at present giving a large amount of his time to the ChicagoConsolidated Traction Co., which he formed for the purpose ofuniting under one management eight companies operating systemsin the outlying districts. large business in the thickly populated part of the cities in whichthey were located. To my mind, the chief reason of their unpopu-larity was that the building of street railways in those days wasalways opposed by
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