Abstract: A passenger or cargo elevator is disclosed that relies on pull chains in a closed system in which the chains are used both to pull the elevator car and also to pull the counterweights. In this way, it is possible not only to use counterweights that exceed the actual weight of the elevator car, but also additional counterweights of up to 50% of the load to be lifted may be employed without incurring the problem of the chains being jerked suddenly owing to inertia during braking. The pulling motor devices, such as planetary-type speed reducers, are coupled to servomotors which can be used to program the characteristics of the movements required by the elevator. The control system includes a programmable logic controller (PLC) and a servomotor controller which, together with the coders of the servomotors, provide position, speed, and torque characteristics for operation of the system.