This rare folding map of the Underground shows all the lines under the control of the Underground Electric Railways Company of London (UERL) in 1904. It was published as a supplement to The Statist, a weekly economics journal aimed at businessmen and financiers. Unlike most other Underground maps from this period, this is not aimed at passengers and was not intended for display in stations. Instead, this map’s primary aim is fundraising.

The UERL was founded in 1902 by the American financier Charles Yerkes when he purchased the rights to construct the Baker Street & Waterloo Railway, the Great Northern, Piccadilly & Brompton Railway, and the Charing Cross, Euston & Hampstead Railway. He combined these three railways with another recent acquisition, the District Railway, under an umbrella company – the UERL. The District Line (marked in red) was operational by 1904, but the three other lines were still under construction (they did not open until 1906-7). Cleverly, the solidity of the black lines on the map makes them appear complete and operational, possibly inspiring confidence with investors.

The cost of acquiring land for stations, digging tunnels, electrifying the District Railway, and purchasing trains required enormous levels of funding. The UERL’s initial capitalization was £5 million (£686 million today), but substantially more was needed to complete the three deep-level railways. This map allowed Yerkes and the UERL to present their London transport vision to a wide audience of potential investors. All of the UERL’s possessions are shown, including not only railways, but also power stations, electric substations, and trams. The large, empty spaces on the map hint at the potential for lucrative future expansion.

Printed colour. Framed. [LDN7201]