Charles Tyson Yerkes, 1837-1905: “Buy Up Old Junk, Fix It Up a Little, and Unload It Upon Other Fellows”

Or, how to make a fortune in public transportation.

Yerkes is one of the Robber Barons who tends to be forgotten amongst the Carnegies and Mellons and J.P. Morgans and Rockefellers of the Gilded Age. For one thing, he died nearly broke and the only hard asset legacy he left is the Yerkes Observatory – high tech in its age,  quaint now.

Forgotten or not, his life was the stuff of scandal, full of material worthy of a novel. Theodore Dreiser found Yerkes so irritating that he wrote three: The FinancierThe Titan, and The Stoic.

Well, who reads Dreiser much any more?  (Kind of surprising, given his taste for the rich and seamy.) Continue reading