Voices could be heard faintly in the distance, far off to-

“So that’s it,” he said. “You’re expectin’ trouble to-morrow.

ward the thicker residential sections.

How are your own affairs?”

“Extra! Extra! All about the big Chicago fire! Chicago burn-

“I’m in pretty good shape, I think, all told, if the money ing down!”

element of this town doesn’t lose its head and go wild. There

“Just that,” replied Cowperwood, hearkening to them.

has to be a lot of common sense exercised to-morrow, or to-

“Have you heard the news?”

night, even. You know we are facing a real panic. Mr. Butler,

“No. What’s that they’re calling?” you may as well know that. It may not last long, but while it

“It’s a big fire out in Chicago.” does it will be bad. Stocks are going to drop to-morrow ten 165

The Financier

or fifteen points on the opening. The banks are going to call

“How is it you’re so bad off?” he asked, curiously. He was their loans unless some arrangement can be made to prevent wondering how the fact that the bottom was going to drop them. No one man can do that. It will have to be a combina-out of local street-railways would affect Cowperwood so se-tion of men. You and Mr. Simpson and Mr. Mollenhauer riously. “You’re not carryin’ any of them things, are you?” he might do it—that is, you could if you could persuade the added.

big banking people to combine to back the market. There is It was now a question of lying or telling the truth, and going to be a raid on local street-railways—all of them. Un-Cowperwood was literally afraid to risk lying in this dilemma.

less they are sustained the bottom is going to drop out. I If he did not gain Butler’s comprehending support he might have always known that you were long on those. I thought fail, and if he failed the truth would come out, anyhow.

you and Mr. Mollenhauer and some of the others might want

“I might as well make a clean breast of this, Mr. Butler,” he to act. If you don’t I might as well confess that it is going to said, throwing himself on the old man’s sympathies and look-go rather hard with me. I am not strong enough to face this ing at him with that brisk assurance which Butler so greatly thing alone.”

admired. He felt as proud of Cowperwood at times as he did He was meditating on how he should tell the whole truth of his own sons. He felt that he had helped to put him where in regard to Stener.

he was.

“Well, now, that’s pretty bad,” said Butler, calmly and medi-

“The fact is that I have been buying street-railway stocks, tatively. He was thinking of his own affairs. A panic was not but not for myself exactly. I am going to do something now good for him either, but he was not in a desperate state. He which I think I ought not to do, but I cannot help myself. If could not fail. He might lose some money, but not a vast I don’t do it, it will injure you and a lot of people whom I do amount—before he could adjust things. Still he did not care not wish to injure. I know you are naturally interested in the to lose any money.

outcome of the fall election. The truth is I have been carry-166

Dreiser

ing a lot of stocks for Mr. Stener and some of his friends. I treasury is put back there. Mr. Stener is out of town or I do not know that all the money has come from the city trea-would have brought him here with me.” sury, but I think that most of it has. I know what that means Cowperwood was lying out of the whole cloth in regard to to Mr. Stener and the Republican party and your interests in bringing Stener with him, and he had no intention of putting case I fail. I don’t think Mr. Stener started this of his own the money back in the city treasury except by degrees and in accord in the first place—I think I am as much to blame as such manner as suited his convenience; but what he had said anybody—but it grew out of other things. As you know, I sounded well and created a great seeming of fairness.

handled that matter of city loan for him and then some of

“How much money is it Stener has invested with you?” his friends wanted me to invest in street-railways for them. I asked Butler. He was a little confused by this curious devel-have been doing that ever since. Personally I have borrowed opment. It put Cowperwood and Stener in an odd light.

considerable money from Mr. Stener at two per cent. In fact,

“About five hundred thousand dollars,” replied originally the transactions were covered in that way. Now I Cowperwood.

don’t want to shift the blame on any one. It comes back to The old man straightened up. “Is it as much as that?” he me and I am willing to let it stay there, except that if I fail said.

Mr. Stener will be blamed and that will reflect on the ad-

“Just about—a little more or a little less; I’m not sure ministration. Naturally, I don’t want to fail. There is no ex-which.”

cuse for my doing so. Aside from this panic I have never The old contractor listened solemnly to all Cowperwood been in a better position in my life. But I cannot weather had to say on this score, thinking of the effect on the Repub-this storm without assistance, and I want to know if you lican party and his own contracting interests. He liked won’t help me. If I pull through I will give you my word that Cowperwood, but this was a rough thing the latter was tellI will see that the money which has been taken from the ing him—rough, and a great deal to ask. He was a slow-167

The Financier

thinking and a slow-moving man, but he did well enough it with the astute machinations of Cowperwood. “That’s when he did think. He had considerable money invested in something to think about. There’s no time to lose if there’s Philadelphia street-railway stocks—perhaps as much as eight going to be a panic in the morning. How much good will it hundred thousand dollars. Mollenhauer had perhaps as much do ye if we do support the market?” more. Whether Senator Simpson had much or little he could

“A great deal,” returned Cowperwood, “although of course not tell. Cowperwood had told him in the past that he I have to raise money in other ways. I have that one hundred thought the Senator had a good deal. Most of their hold-thousand dollars of yours on deposit. Is it likely that you’ll ings, as in the case of Cowperwood’s, were hypothecated at want that right away?”

the various banks for loans and these loans invested in other

“It may be,” said Butler.

ways. It was not advisable or comfortable to have these loans

“It’s just as likely that I’ll need it so badly that I can’t give it called, though the condition of no one of the triumvirate up without seriously injuring myself,” added Cowperwood.

was anything like as bad as that of Cowperwood. They could

“That’s just one of a lot of things. If you and Senator Simpson see themselves through without much trouble, though not and Mr. Mollenhauer were to get together—you’re the larg-without probable loss unless they took hurried action to pro-est holders of street-railway stocks—and were to see Mr.

tect themselves.

Drexel and Mr. Cooke, you could fix things so that matters He would not have thought so much of it if Cowperwood would be considerably easier. I will be all right if my loans had told him that Stener was involved, say, to the extent of are not called, and my loans will not be called if the market seventy-five or a hundred thousand dollars. That might be does not slump too heavily. If it does, all my securities are adjusted. But five hundred thousand dollars!

depreciated, and I can’t hold out.”

“That’s a lot of money,” said Butler, thinking of the amaz-Old Butler got up. “This is serious business,” he said. “I ing audacity of Stener, but failing at the moment to identify wish you’d never gone in with Stener in that way. It don’t 168

Dreiser

look quite right and it can’t be made to. It’s bad, bad busi-to the door. And you get your hat and coat. I want you to go ness,” he added dourly. “Still, I’ll do what I can. I can’t promise along with me.”

much, but I’ve always liked ye and I’ll not be turning on ye

“Yes, father.”

now unless I have to. But I’m sorry—very. And I’m not the He came back.

only one that has a hand in things in this town.” At the same

“Sure that’s a nice little storm in a teapot, now, isn’t it?

time he was thinking it was right decent of Cowperwood to Chicago begins to burn, and I have to worry here in Phila-forewarn him this way in regard to his own affairs and the delphia. Well, well—” Cowperwood was up now and mov-city election, even though he was saving his own neck by so ing to the door. “And where are you going?” doing. He meant to do what he could.

“Back to the house. I have several people coming there to

“I don’t suppose you could keep this matter of Stener and see me. But I’ll come back here later, if I may.” the city treasury quiet for a day or two until I see how I come

“Yes, yes,” replied Butler. “To be sure I’ll be here by mid-out?” suggested Cowperwood warily.

night, anyhow. Well, good night. I’ll see you later, then, I

“I can’t promise that,” replied Butler. “I’ll have to do the suppose. I’ll tell you what I find out.” best I can. I won’t lave it go any further than I can help—

He went back in his room for something, and Cowperwood you can depend on that.” He was thinking how the effect of descended the stair alone. From the hangings of the recep-Stener’s crime could be overcome if Cowperwood failed.

tion-room entryway Aileen signaled him to draw near.

“Owen!”

“I hope it’s nothing serious, honey?” she sympathized, look-He stepped to the door, and, opening it, called down over ing into his solemn eyes.

the banister.