The Yerkes family is of Dutch origin, and Charles Tyson Yerkes was
born June 25, 1837, in Philadelphia, Pennsylvania. He was educated at
the Friends’ School and the Central High School in his native city,
and entered business life as clerk in a flour and grain commission
house. He worked without salary, since, in those days, it was counted
a privilege to be connected with first-class houses. Because of his
close attention to his duties he was presented with fifty dollars at
the end of his first year’s service. In 1859 he opened a stock broker’s
office in Philadelphia. During the Civil War he dealt heavily in
government, state and city bonds. The panic occasioned by the Chicago
fire caught him heavily indebted to the city for bonds sold for it.
The authorities demanded settlement; but, being unable to pay in full,
he made an assignment. In 1873 he commenced the recuperation of his
fortune, and with success. In 1880 he made a trip to Chicago, and,
becoming convinced of the opportunities the west offered to financiers,
he joined an “improvement syndicate,” of which he later became sole
owner. Subsequently he sold his interest in it and opened a banking
house in Chicago. In 1886 he obtained control of the North Chicago
Railway Company. He added other systems, and finally united several
corporations under the title of the Chicago Consolidated Traction
Company. Mr. Yerkes was a chief factor in getting the Columbian
Exposition for Chicago. He is a devoted lover of art, and possesses
a unique collection of pictures. His successful efforts to introduce
New World street transportation methods into England are a matter of
recent record. In 1861 Mr. Yerkes was married to Mary Adelaide Moore,
of Philadelphia.