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CHARLES TYSON YERKES (1837-1905)

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Originally appearing in Volume V28, Page 918 of the 1911 Encyclopedia Britannica.
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CHARLES TYSON See also:YERKES (1837-1905)  , See also:American capitalist, was See also:born of Quaker parentage, in See also:Philadelphia, See also:Pennsylvania, on the 25th of See also:June 1837 . He was a clerk in a See also:grain-See also:commission See also:house, an See also:exchange See also:broker (1858-61) and a banker (1861-86) . When he failed in 1871 he refused to give any preference to the See also:city of Philadelphia for bonds sold on its See also:account, and was convicted of " misappropriating city funds," and sentenced to two years and nine months in the See also:penitentiary . After serving seven months of this See also:sentence he was pardoned, and the City See also:Council afterward passed an See also:ordinance cancelling the See also:municipality's claim against him . He established a banking business in See also:Chicago in 1881; in 1886 got See also:control of the Chicago City Railway See also:Company; and within the next twelve years organized a virtual See also:monopoly of the See also:surface and elevated railway service of Chicago . He disposed of his See also:street railway interests in Chicago, and removed to See also:London (1900) . There he acquired in 1901 a controlling See also:interest in the See also:Metropolitan See also:District railway, and by organizing the finances of the Under-ground Electric See also:Railways Company he took an important initiative in extending the See also:system of London electric railways . See also:Yerkes gave to the university of Chicago the See also:great See also:telescope installed in the Yerkes See also:Observatory at See also:Lake See also:Geneva, See also:Wisconsin, and gathered in his New See also:York See also:residence a remarkable collection of paintings, tapestries and rugs, which were sold at See also:auction in See also:April 1910 for $2,034,450 . He died in New York on the 29th of See also:December 1905 .

End of Article: CHARLES TYSON YERKES (1837-1905)
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