Albert Stanley, 1st Baron Ashfield

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The Lord Ashfield

TD PC
Lord Stanley by Hugh Cecil2.jpg
Lord Ashfield by Hugh Cecil, c. 1920
Chairman of the Underground Electric Railways Company of London/London Passenger Transport Board
In office
30 May 1919 31 October 1947
Preceded by Lord George Hamilton
Succeeded by The Lord Latham
President of the Board of Trade
In office
10 December 1916 26 May 1919
Prime Minister David Lloyd George
Preceded by Walter Runciman
Succeeded by Sir Auckland Geddes
Member of Parliament
for Ashton under Lyne
In office
23 December 1916 31 January 1920
Preceded by Sir Max Aitken, Bt
Succeeded by Sir Walter de Frece
Personal details
Born
Albert Henry Knattriess

8 August 1874 (1874-08-08)
New Normanton, Derbyshire
United Kingdom
Died4 November 1948(1948-11-04) (aged 74)
London
NationalityBritish
Political party Conservative Unionist
Spouse(s)Grace Lowrey

Albert Henry Stanley, 1st Baron Ashfield, TD , PC (8 August 1874 – 4 November 1948), born Albert Henry Knattriess, was a British-American businessman who was managing director, then chairman of the Underground Electric Railways Company of London (UERL) from 1910 to 1933 and chairman of the London Passenger Transport Board (LPTB) from 1933 to 1947.

Territorial Decoration military medal of the United Kingdom

The Territorial Decoration (TD) was a military medal of the United Kingdom awarded for long service in the Territorial Force and its successor, the Territorial Army. This award superseded the Volunteer Officer's Decoration when the Territorial Force was formed on 1 April 1908, following the enactment of the Territorial and Reserve Forces Act 1907, which was a large reorganisation of the old Volunteer Army and the remaining units of militia and Yeomanry. However, the Militia were transferred to the Special Reserve rather than becoming part of the Territorial Force. A recipient of this award is entitled to the letters "TD" after their name (post-nominal).

Privy Council of the United Kingdom Formal body of advisers to the sovereign in the United Kingdom

Her Majesty's Most Honourable Privy Council, usually known simply as the Privy Council of the United Kingdom or just the Privy Council, is a formal body of advisers to the Sovereign of the United Kingdom. Its membership mainly comprises senior politicians who are current or former members of either the House of Commons or the House of Lords.

Underground Electric Railways Company of London holding company for underground railways and bus operators in London

The Underground Electric Railways Company of London Limited (UERL), known operationally as the Underground for much of its existence, was established in 1902. It was the holding company for the three deep-level "tube" underground railway lines opened in London during 1906 and 1907: the Baker Street and Waterloo Railway, the Charing Cross, Euston and Hampstead Railway and the Great Northern, Piccadilly and Brompton Railway. It was also the parent company from 1902 of the District Railway, which it electrified between 1903 and 1905. The UERL is a precursor of today's London Underground; its three tube lines form the central sections of today's Bakerloo, Northern and Piccadilly lines.

Contents

Although born in Britain, his early career was in the United States, where at a young age, he held senior positions in the developing tramway systems of Detroit and New Jersey. In 1898, he served in the United States Navy during the short Spanish–American War.

Tram Vehicle used for tramway traffic

A tram is a rail vehicle which runs on tramway tracks along public urban streets; some include segments of segregated right-of-way. The lines or networks operated by tramcars are called tramways. Historically the term electric street railways was also used in the United States. In the United States, the term tram has sometimes been used for rubber-tired trackless trains, which are unrelated to other kinds of trams.

United States Navy Naval warfare branch of the United States Armed Forces

The United States Navy (USN) is the naval warfare service branch of the United States Armed Forces and one of the seven uniformed services of the United States. It is the largest and most capable navy in the world and it has been estimated that in terms of tonnage of its active battle fleet alone, it is larger than the next 13 navies combined, which includes 11 U.S. allies or partner nations. with the highest combined battle fleet tonnage and the world's largest aircraft carrier fleet, with eleven in service, and two new carriers under construction. With 319,421 personnel on active duty and 99,616 in the Ready Reserve, the Navy is the third largest of the service branches. It has 282 deployable combat vessels and more than 3,700 operational aircraft as of March 2018, making it the third-largest air force in the world, after the United States Air Force and the United States Army.

Spanish–American War Conflict in 1898 between Spain and the United States

The Spanish–American War was an armed conflict between Spain and the United States in 1898. Hostilities began in the aftermath of the internal explosion of USS Maine in Havana harbor in Cuba, leading to U.S. intervention in the Cuban War of Independence. The war led to emergence of U.S. predominance in the Caribbean region, and resulted in U.S. acquisition of Spain's Pacific possessions. That led to U.S. involvement in the Philippine Revolution and ultimately in the Philippine–American War.

In 1907, his management skills led to his recruitment by the UERL, which was struggling through a financial crisis that threatened its existence. He quickly integrated the company's management and used advertising and public relations to improve profits. As managing director of the UERL from 1910, he led the take-over of competing underground railway companies and bus and tram operations to form an integrated transport operation known as the Combine.

Public relations (PR) is the practice of deliberately managing the spread of information between an individual or an organization and the public. Public relations may include an organization or individual gaining exposure to their audiences using topics of public interest and news items that do not require direct payment. This differentiates it from advertising as a form of marketing communications. Public relations is the idea of creating coverage for clients for free, rather than marketing or advertising. But now, advertising is also a part of greater PR Activities. An example of good public relations would be generating an article featuring a client, rather than paying for the client to be advertised next to the article. The aim of public relations is to inform the public, prospective customers, investors, partners, employees, and other stakeholders and ultimately persuade them to maintain a positive or favorable view about the organization, its leadership, products, or political decisions. Public relations professionals typically work for PR and marketing firms, businesses and companies, government, and public officials as PIOs and nongovernmental organizations, and nonprofit organizations. Jobs central to public relations include account coordinator, account executive, account supervisor, and media relations manager.

He was Member of Parliament for Ashton-under-Lyne from December 1916 to January 1920 and was President of the Board of Trade between December 1916 and May 1919, reorganising the board and establishing specialist departments for various industries. He returned to the UERL and then chaired it and its successor the LPTB during the organisation's greatest period of expansion between the two World Wars, making it a world-respected organisation considered an exemplar of the best form of public administration.

Ashton-under-Lyne (UK Parliament constituency) Parliamentary constituency in the United Kingdom, 1832 onwards

Ashton-under-Lyne is a constituency centred on the town of Ashton-under-Lyne that is represented in the House of Commons of the UK Parliament since 2015 by Angela Rayner of the Labour Party, who has served as Shadow Secretary of State for Education since 1 July 2016 and Shadow Minister for Women and Equalities since 27 June 2016. It is considered a safe seat for Labour; in the most recent six national elections its voters have given strong majorities to the Labour Party candidate.

President of the Board of Trade head of the Board of Trade, a committee of the Privy Council of the United Kingdom

The President of the Board of Trade is head of the Board of Trade. This is a committee of the Privy Council of the United Kingdom, first established as a temporary committee of inquiry in the 17th century, that evolved gradually into a government department with a diverse range of functions. The current holder is Liam Fox, the Secretary of State for International Trade.

Early life and career in United States

Stanley was born on 8 August 1874, in New Normanton, Derbyshire, England, the son of Henry and Elizabeth Knattriess (née Twigg). His father worked as a coachbuilder for the Pullman Company. In 1880, the family emigrated to Detroit in the United States, where he worked at Pullman's main factory. During the 1890s, the family changed its name to "Stanley". [1]

Derbyshire ceremonial county in East Midlands, England

Derbyshire is a county in the East Midlands of England. A substantial portion of the Peak District National Park lies within Derbyshire, containing the southern extremity of the Pennine range of hills which extend into the north of the county. The county contains part of the National Forest, and borders on Greater Manchester to the northwest, West Yorkshire to the north, South Yorkshire to the northeast, Nottinghamshire to the east, Leicestershire to the southeast, Staffordshire to the west and southwest and Cheshire also to the west. Kinder Scout, at 636 metres (2,087 ft), is the highest point in the county, whilst Trent Meadows, where the River Trent leaves Derbyshire, is its lowest point at 27 metres (89 ft). The River Derwent is the county's longest river at 66 miles (106 km), and runs roughly north to south through the county. In 2003 the Ordnance Survey placed Church Flatts Farm at Coton in the Elms as the furthest point from the sea in Great Britain.

Coachbuilder occupation

A coachbuilder or body-maker manufactures bodies for passenger-carrying vehicles. Coachwork is the body of an automobile, bus, horse-drawn carriage, or railroad passenger car. The word "coach" was derived from the Hungarian town of Kocs.

Pullman Company

The Pullman Car Company, founded by George Pullman, manufactured railroad cars in the mid-to-late 19th century through the first half of the 20th century, during the boom of railroads in the United States. Through rapid late nineteenth century development of mass production, and takeover of rivals, the company developed a virtual monopoly on production and ownership of sleeper cars. At its peak in the early 20th century, its cars accommodated 26 million people a year, and it in effect operated "the largest hotel in the world". Its production workers initially lived in a planned worker community named Pullman, Chicago. Pullman developed the sleeping car, which carried his name into the 1980s. Pullman did not just manufacture the cars, it also operated them on most of the railroads in the United States, paying railroad companies to couple the cars to trains. The labor union associated with the company, the Brotherhood of Sleeping Car Porters, founded and organized by A. Philip Randolph, was one of the most powerful African-American political entities of the 20th century. The company also built thousands of streetcars and trolley buses for use in cities. Post World War II changes in automobile and airplane transport led to a steep decline in the company's fortunes. It folded in 1968.

In 1888, at the age of 14, Stanley left school and went to work as an office boy at the Detroit Street Railways Company, which ran a horse-drawn tram system. He continued to study at evening school and worked long hours, often from 7.30 am to 10.00 pm. [2] His abilities were recognised early and Stanley was given responsibility for scheduling the services and preparing the timetables when he was 17. Following the expansion and electrification of the tramway, he became General Superintendent of the company in 1894. [3] [4]

Detroit United Railway

The Detroit United Railway was a transport company which operated numerous streetcar and interurban lines in southeast Michigan. Although many of the lines were originally built by different companies, they were consolidated under the control of the Everett-Moore syndicate, a Cleveland-based group of investors. The company incorporated on December 31, 1900, and continued to expand into the early 1920s through new construction and the acquisition of smaller concerns. After the DUR acquired the Detroit-Jackson line in 1907, it operated more than 400 miles (640 km) of interurban lines and 187 miles (301 km) of street city street railway lines.

Horsecar animal-powered tram or streetcar

A horsecar, horse-drawn tram, or (U.S.) horse-drawn streetcar, is an animal-powered tram or streetcar.

Electrification is the process of powering by electricity and, in many contexts, the introduction of such power by changing over from an earlier power source. The broad meaning of the term, such as in the history of technology, economic history, and economic development, usually applies to a region or national economy. Broadly speaking, electrification was the build-out of the electricity generation and electric power distribution systems that occurred in Britain, the United States, and other now-developed countries from the mid-1880s until around 1950 and is still in progress in rural areas in some developing countries. This included the transition in manufacturing from line shaft and belt drive using steam engines and water power to electric motors.

Stanley was a naval reservist and, during the brief Spanish–American War of 1898, he served in the United States Navy as a landsman in the crew of USS Yosemite alongside many others from Detroit. [1] [5] In 1903, Stanley moved to New Jersey to become assistant general manager of the street railway department of the Public Service Corporation of New Jersey. The company had been struggling, but Stanley quickly improved its organisation and was promoted to general manager of the department in January 1904. In January 1907, he became general manager of the whole corporation, running a network of almost 1,000 route miles and 25,000 employees. [1] [3]

In 1904, Stanley married Grace Lowrey (1878–1962) of New York. [1] [6] The couple had two daughters: Marian Stanley (born 1906) and Grace Stanley (born 1907). [1] [7] [8]

Career in Britain

Rescue of the Underground Electric Railways Company

On 20 February 1907, Sir George Gibb, managing director of the Underground Electric Railways Company of London (UERL), appointed Stanley as its general manager. [9] The UERL was the holding company of four underground railways in central London. [10] Three of these (the District Railway, the Baker Street and Waterloo Railway and the Great Northern, Piccadilly and Brompton Railway) were already in operation and the fourth (the Charing Cross, Euston and Hampstead Railway) was about to open. [11] The UERL had been established by American financier Charles Yerkes and much of the finance and equipment had been brought from the United States, so Stanley's experience of managing urban transit systems in that country made him an ideal candidate for the position. The cost of constructing three new lines in just a few years had put the company in a precarious monetary position and income was not sufficient to pay the interest on its loans. [12] Stanley's responsibility was to restore its finances.

The first Underground branded map from 1908, showing the UERL's lines and those of the other tube companies and the Metropolitan Railway Tube map 1908-2.jpg
The first Underground branded map from 1908, showing the UERL's lines and those of the other tube companies and the Metropolitan Railway

Only recently promoted to general manager of the New Jersey system, Stanley had been reluctant to take the position in London and took it for one year only, provided he would be free to return to America at the end of the year. He told the company's senior managers that the company was almost bankrupt and got resignation letters from each of them post-dated by six months. [13] [14] Through better integration of the separate companies within the group and by improving advertising and public relations, he was quickly able to turn the fortunes of the company around, [1] while the company's chairman, Sir Edgar Speyer, renegotiated the debt repayments. [12] In 1908, Stanley joined the company's board and, in 1910, he became the managing director. [1]

With Commercial Manager Frank Pick, Stanley devised a plan to increase passenger numbers: developing the "UNDERGROUND" brand and establishing a joint booking system and co-ordinated fares throughout all of London's underground railways, including those not controlled by the UERL. [4] In July 1910, Stanley took the integration of the group further, when he persuaded previously reluctant American investors to approve the merger of the three tube railways into a single company. [15] [16] Further consolidation came with the UERL's take-over of London General Omnibus Company (LGOC) in 1912 and the Central London Railway and the City and South London Railway on 1 January 1913. Of London's underground railways, only the Metropolitan Railway (and its subsidiaries the Great Northern & City Railway and the East London Railway) and the Waterloo & City Railway remained outside of the Underground Group's control. The LGOC was the dominant bus operator in the capital and its high profitability (it paid dividends of 18 per cent compared with Underground Group companies' dividends of 1 to 3 per cent) subsidised the rest of the group. [17] Stanley further expanded the group through shareholdings in London United Tramways and Metropolitan Electric Tramways and the foundation of bus builder AEC. [18] The much enlarged group became known as the Combine. [19] On 29 July 1914, Stanley was knighted in recognition of his services to transport. [20]

Stanley also planned extensions of the existing Underground Group's lines into new, undeveloped districts beyond the central area to encourage the development of new suburbs and new commuter traffic. The first of the extensions, the Bakerloo line to Queen's Park and Watford Junction, opened between 1915 and 1917. [11] The other expansion plans were postponed during World War I. [21]

Government

In 1915, Stanley was given a wartime role as Director-General of Mechanical Transport at the Ministry of Munitions. [22] In 1916, he was selected by Prime Minister David Lloyd George to become President of the Board of Trade. Lloyd George had previously promised this role to Sir Max Aitken (later Lord Beaverbrook), Member of Parliament for Ashton-under-Lyne. At that time, a member of parliament taking a cabinet post for the first time had to resign and stand for re-election in a by-election. Aitken had made arrangements to do this before Lloyd George decided to appoint Stanley to the position instead. Aitken, a friend of Stanley, was persuaded to continue with the resignation in exchange for a peerage so that Stanley could take his seat. [23] Stanley became President of the Board of Trade and was made a Privy Counsellor on 13 December 1916. [24] He was elected to parliament unopposed on 23 December 1916 as a Conservative Unionist. [1] [25] At 42 years old he was the youngest member of Lloyd George's coalition government. [1]

At the 1918 general election, Stanley was opposed by Frederick Lister, the President of the National Federation of Discharged and Demobilized Sailors and Soldiers, in a challenge over the government's policy on war pensions. With the backing of Beaverbrook, who visited his former constituency to speak on his behalf, Stanley won the election. [26]

Stanley's achievements in office were mixed. He established various specialist departments to manage output in numerous industries and reorganised the structure of the Board. [18] However, despite previous successes with unions, his negotiations were ineffective. Writing to Leader of the House of Commons and future Prime Minister Bonar Law in January 1919, Lloyd George described Stanley as having "all the glibness of Runciman and that is apt to take in innocent persons like you and me ... Stanley, to put it quite bluntly, is a funk, and there is no room for funks in the modern world." [27] Stanley left the Board of Trade and the government in May 1919 and returned to the UERL.

Return to the Underground

Back at the Underground Group, Stanley returned to his role as managing director and also became its chairman, replacing Lord George Hamilton. [28] In the 1920 New Year Honours, [29] he was created Baron Ashfield, of Southwell in the County of Nottingham, [30] [note 1] ending his term as an MP. [note 2] He and Pick reactivated their expansion plans, and one of the most significant periods in the organisation's history began, subsequently considered to be its heyday and sometimes called its "Golden Age". [32] [33]

Lord Ashfield and his daughter Marian at the reopening of the City and South London Railway, 1 December 1924 Lord Stanley and daughter.jpg
Lord Ashfield and his daughter Marian at the reopening of the City and South London Railway, 1 December 1924

The Central London Railway was extended to Ealing Broadway in 1920, and the Charing Cross, Euston and Hampstead Railway was extended to Hendon in 1923 and to Edgware in 1924. The City and South London Railway was reconstructed with larger diameter tunnels to take modern trains between 1922 and 1924 and extended to Morden in 1926. [11] In addition, a programme of modernising many of the Underground's busiest central London stations was started; providing them with escalators to replace lifts. [34] New rolling stock was gradually introduced with automatic sliding doors along the length of the carriage instead of manual end gates. [35] By the middle of the 1920s, the organisation had expanded to such an extent that a large, new headquarters building was constructed at 55 Broadway over St. James's Park station. [36]

Starting in the early 1920s, competition from numerous small bus companies, nicknamed "pirates" because they operated irregular routes and plundered the LGOC's passengers, eroded the profitability of the Combine's bus operations and had a negative impact on the profitability of the whole group. [37] Ashfield lobbied the government for regulation of transport services in the London area. Starting in 1923, a series of legislative initiatives were made in this direction, with Ashfield and Labour London County Councillor (later MP and Minister of Transport) Herbert Morrison, at the forefront of debates as to the level of regulation and public control under which transport services should be brought. Ashfield aimed for regulation that would give the UERL group protection from competition and allow it to take substantive control of the LCC's tram system; Morrison preferred full public ownership. [38] Ashfield's proposal was fraught with controversy, The Spectator noting, "Everybody agrees that Lord Ashfield knows more about transport than anyone else, but people are naturally loth to give, not to him, but to his shareholders, the monopoly of conveying them." [39] After seven years of false starts, a bill was announced at the end of 1930 for the formation of the London Passenger Transport Board (LPTB), a public corporation that would take control of the UERL, the Metropolitan Railway and all bus and tram operators within an area designated as the London Passenger Transport Area. [40] As Ashfield had done with shareholders in 1910 over the consolidation of the three UERL controlled tube lines, he used his persuasiveness to obtain their agreements to the government buy-out of their stock. [41]

I have read this bill carefully, and I beg you to accept that I know what I am talking about. You cannot conceive I would be guilty of such folly as to suggest to you in a matter in which my whole life has been wrapped, that you should transfer your interests to a board subject to political interference, that could play ducks and drakes with your investments. Acts of Parliament are not treated like scraps of paper. They are scrupulously observed by all parties. I have promised the Minister my support. You may fail to support me, but in that event you will have to find somebody else to manage your undertakings. I have pledged my word and I am not going back on it. [42]

The Board was a compromise – public ownership but not full nationalisation – and came into existence on 1 July 1933. [43] Ashfield served as the organisation's chairman from its establishment in 1933 on an annual salary of £12,500 (approximately £600,000 today), [44] [45] with Pick as Chief Executive.

The opening of extensions of the Piccadilly line to Uxbridge, Hounslow and Cockfosters followed in 1933. [11] On the Metropolitan Railway, Ashfield and Pick instigated a rationalisation of services. The barely used and loss-making Brill and Verney Junction branches beyond Aylesbury were closed in 1935 and 1936. [46] Freight services were reduced and electrification of the remaining steam operated sections of the line was planned. [47] In 1935, the availability of government-backed loans to stimulate the flagging economy allowed Ashfield and Pick to promote system-wide improvements under the New Works Programme for 1935–1940, including the transfer of the Metropolitan line's Stanmore services to the Bakerloo line in 1939, the Northern line's Northern Heights project and extension of the Central line to Ongar and Denham. [48] [note 3]

Following a reorganisation of public transportation by the Labour government of Clement Attlee, the LPTB was scheduled to be nationalised along with the majority of British railway, bus, road haulage and waterway concerns from 1 January 1948. In advance of this, Ashfield resigned from the LPTB at the end of October 1947 and joined the board of the new British Transport Commission which was to operate all of the nationalised public transport systems. At nationalisation, the LPTB was to be abolished and replaced by the London Transport Executive. Lord Latham, a member of the LPTB and the incoming chairman of the new organisation, acted as temporary chairman for the last two months of the LPTB's existence. [49]

Other activities

In addition to his management of London Underground and brief political career, Ashfield held many directorships in transport undertakings and industry. He helped establish the Institute of Transport in 1919/20 and was one of its first presidents. [50] He was a director of the Mexican Railway Company and two railway companies in Cuba and a member of the 1931 Royal Commission on Railways and Transportation in Canada. [1] [51] He was one of two government directors of the British Dyestuffs Corporation, its chairman from 1924 and was involved in the creation of Imperial Chemical Industries in 1926, of which he was subsequently a non-executive director. Ashfield was a director of the Midland Bank, Amalgamated Anthracite Collieries and chairman of Albany Ward Theatres, Associated Provincial Picture Houses, and Provincial Cinematograph Theatres. [1]

During World War I, he was Colonel of the Territorial Force Engineer and Railway Staff Corps and was Honorary Colonel of the Royal Artillery's 84th Light Anti Aircraft Regiment during World War II. [51]

Personality

Biographers of Stanley characterise him as having an "immensely active mind, and a strong sense of public duty" and a "great charm of manner and a sense of humour which concealed an almost ruthless determination" that made him a "formidable negotiator". [1] His "intuitive understanding of his fellow men" gave him "presence, which allowed him to dominate meetings effortlessly" and "inspired loyalty, devotion even, among his staff". [52] He was "a dapper ladies' man, something of a playboy tycoon, who was always smartly turned out and enjoyed moving in high society". [53]

Legacy

Transport for London's Ashfield House in West Kensington Ashfield House, West Kensington.jpg
Transport for London's Ashfield House in West Kensington

Ashfield died on 4 November 1948 at 31 Queen's Gate, South Kensington. [1] During his near forty-year tenure as managing director and chairman of the Underground Group and the LPTB, Ashfield oversaw the transformation of a collection of unconnected, competing railway, bus and tram companies, some in severe financial difficulties, into a coherent and well managed transport organisation, internationally respected for its technical expertise and design style. Transport historian Christian Wolmar considers it "almost impossible to exaggerate the high regard in which LT was held during its all too brief heyday, attracting official visitors from around the world eager to learn the lessons of its success and apply them in their own countries." "It represented the apogee of a type of confident public administration ... with a reputation that any state organisation today would envy ... only made possible by the brilliance of its two famous leaders, Ashfield and Pick." [54]

A memorial to Ashfield was erected at 55 Broadway in 1950 and a blue plaque was placed at his home, 43 South Street, Mayfair in 1984. [55] A large office building at London Underground's Lillie Bridge Depot is named Ashfield House in his honour. It stands to the south of the District line tracks a short distance to the east of West Kensington station and is also visible from West Cromwell Road (A4).

Arms

Notes

  1. Stanley's choice of title was inspired by the birth places of his father and grandfather: respectively, these were Sutton-in-Ashfield and Southwell, both in Nottinghamshire. [31]
  2. In most cases, a peerage grants the holder a seat in the House of Lords. In Ashfield's time, substantive holders of peerages could not sit as members of parliament and his acceptance of the barony automatically disqualified him from being an MP.
  3. Much of the works were interrupted by World War II. After the War, changed priorities, funding shortages and the creation of London's Metropolitan Green Belt led to much of the Northern line expansion plan being cancelled and delays in completing other plans.

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The Baker Street and Waterloo Railway (BS&WR), also known as the Bakerloo tube, was a railway company established in 1893 that built a deep-level underground "tube" railway in London. The company struggled to fund the work, and construction did not begin until 1898. In 1900, work was hit by the financial collapse of its parent company, the London & Globe Finance Corporation, through the fraud of Whitaker Wright, its main shareholder. In 1902, the BS&WR became a subsidiary of the Underground Electric Railways Company of London (UERL) controlled by American financier Charles Yerkes. The UERL quickly raised the funds, mainly from foreign investors.

Edgar Speyer British-American financier and philanthropist

Sir Edgar Speyer, 1st Baronet was an American-born financier and philanthropist. He became a British subject in 1892 and was chairman of Speyer Brothers, the British branch of the Speyer family's international finance house, and a partner in the German and American branches. He was chairman of the Underground Electric Railways Company of London from 1906 to 1915, a period during which the company opened three underground railway lines, electrified a fourth and took over two more.

The transport system now known as the London Underground began in 1863 with the Metropolitan Railway, the world's first underground railway. Over the next forty years, the early sub-surface lines reached out from the urban centre of the capital into the surrounding rural margins, leading to the development of new commuter suburbs. At the turn of the nineteenth century, new technology—including electric locomotives and improvements to the tunnelling shield—enabled new companies to construct a series of "tube" lines deeper underground. Initially rivals, the tube railway companies began to co-operate in advertising and through shared branding, eventually consolidating under the single ownership of the Underground Electric Railways Company of London (UERL), with lines stretching across London.

Alexander Valentine Transport Administrator

Sir Alexander (Alec) Balmain Bruce Valentine OStJ MA, was Chairman of the London Transport Executive from 1959 to 1963 and Chairman of the London Transport Board from 1963 to 1965.

London Transport (brand)

London Transport (LT) was the public name and brand used by a series of public transport authorities in London, England, from 1933. Its most recognizable feature was the bar-and-circle 'roundel' logo. With its origins in the Underground Electric Railways Company of London (UERL), the brand was first used by the London Passenger Transport Board (LPTB) to unify the identity of the previously separately owned and managed London Underground, Metropolitan Railway, bus and tram services. The London Transport brand was extended under the direction of Frank Pick to all aspects of transport operation including poster designs, tickets, train livery, seat upholstery and the station architecture of Charles Holden. When public transport operation was taken over by Transport for London (TFL) from London Regional Transport (LRT) in 2000, the London Transport brand was discontinued and replaced with Transport for London's own branding, which incorporates many features of the London Transport brand including the 'roundel' symbol and the Johnston font.

George Gibb British transport administrator

Sir George Stegmann Gibb was a Scottish transport administrator who served as the general manager of the North Eastern Railway, managing director of the Underground Electric Railways Company of London, and as chairman of the former British Road Board.

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Sources

Political offices
Preceded by
Walter Runciman
President of the Board of Trade
1916–1919
Succeeded by
Sir Auckland Geddes
Parliament of the United Kingdom
Preceded by
Sir Max Aitken, Bt
Member of Parliament for Ashton-under-Lyne
1916–1920
Succeeded by
Sir Walter de Frece
Business positions
Preceded by
Lord George Hamilton
Chairman,
Underground Electric Railways Company of London

1919–1933
Abolished
New title
New organisation
Chairman,
London Passenger Transport Board

1933–1947
Succeeded by
Lord Latham
( Pro Tempore )
Peerage of the United Kingdom
New creation Baron Ashfield
1920–1948
Extinct