There was a loan of one hundred thousand dollars from the Girard National Bank which he was particularly anxious to clear off.
This bank was the most important in the city, and if he retained its good will by meeting this loan promptly he might hope for favors in the future whatever happened.
Yet, at the moment, he did not see how he could do it.
He decided, however, after some reflection, that he would deliver the stocks which Judge Kitchen, Zimmerman, and others had agreed to take and get their checks or cash yet this night.
Then he would persuade Stener to let him have a check for the sixty thousand dollars' worth of city loan he had purchased this morning on 'change.
Out of it he could take twenty-five thousand dollars to make up the balance due the bank, and still have thirty-five thousand for himself.
The one unfortunate thing about such an arrangement was that by doing it he was building up a rather complicated situation in regard to these same certificates.
Since their purchase in the morning, he had not deposited them in the sinking-fund, where they belonged (they had been delivered to his office by half past one in the afternoon), but, on the contrary, had immediately hypothecated them to cover another loan.
It was a risky thing to have done, considering that he was in danger of failing and that he was not absolutely sure of being able to take them up in time.
But, he reasoned, he had a working agreement with the city treasurer (illegal of course), which would make such a transaction rather plausible, and almost all right, even if he failed, and that was that none of his accounts were supposed necessarily to be put straight until the end of the month.
If he failed, and the certificates were not in the sinking-fund, he could say, as was the truth, that he was in the habit of taking his time, and had forgotten.
This collecting of a check, therefore, for these as yet undeposited certificates would be technically, if not legally and morally, plausible.
The city would be out only an additional sixty thousand dollars—making five hundred and sixty thousand dollars all told, which in view of its probable loss of five hundred thousand did not make so much difference.
But his caution clashed with his need on this occasion, and he decided that he would not call for the check unless Stener finally refused to aid him with three hundred thousand more, in which case he would claim it as his right.
In all likelihood Stener would not think to ask whether the certificates were in the sinking-fund or not. If he did, he would have to lie—that was all.
He drove rapidly back to his office, and, finding Butler's note, as he expected, wrote a check on his father's bank for the one hundred thousand dollars which had been placed to his credit by his loving parent, and sent it around to Butler's office.
There was another note, from Albert Stires, Stener's secretary, advising him not to buy or sell any more city loan—that until further notice such transactions would not be honored.
Cowperwood immediately sensed the source of this warning.
Stener had been in conference with Butler or Mollenhauer, and had been warned and frightened.
Nevertheless, he got in his buggy again and drove directly to the city treasurer's office.
Since Cowperwood's visit Stener had talked still more with Sengstack, Strobik, and others, all sent to see that a proper fear of things financial had been put in his heart.
The result was decidedly one which spelled opposition to Cowperwood.
Strobik was considerably disturbed himself.
He and Wycroft and Harmon had also been using money out of the treasury—much smaller sums, of course, for they had not Cowperwood's financial imagination—and were disturbed as to how they would return what they owed before the storm broke.
If Cowperwood failed, and Stener was short in his accounts, the whole budget might be investigated, and then their loans would be brought to light.
The thing to do was to return what they owed, and then, at least, no charge of malfeasance would lie against them.
"Go to Mollenhauer," Strobik had advised Stener, shortly after Cowperwood had left the latter's office, "and tell him the whole story.
He put you here. He was strong for your nomination.
Tell him just where you stand and ask him what to do.
He'll probably be able to tell you.
Offer him your holdings to help you out.
You have to.
You can't help yourself.
Don't loan Cowperwood another damned dollar, whatever you do.
He's got you in so deep now you can hardly hope to get out.
Ask Mollenhauer if he won't help you to get Cowperwood to put that money back.
He may be able to influence him."
There was more in this conversation to the same effect, and then Stener hurried as fast as his legs could carry him to Mollenhauer's office.
He was so frightened that he could scarcely breathe, and he was quite ready to throw himself on his knees before the big German-American financier and leader.
Oh, if Mr. Mollenhauer would only help him!
If he could just get out of this without going to jail!
"Oh, Lord! Oh, Lord!
Oh, Lord!" he repeated, over and over to himself, as he walked.
"What shall I do?"
The attitude of Henry A. Mollenhauer, grim, political boss that he was—trained in a hard school—was precisely the attitude of every such man in all such trying circumstances.
He was wondering, in view of what Butler had told him, just how much he could advantage himself in this situation.
If he could, he wanted to get control of whatever street-railway stock Stener now had, without in any way compromising himself.
Stener's shares could easily be transferred on 'change through Mollenhauer's brokers to a dummy, who would eventually transfer them to himself (Mollenhauer).
Stener must be squeezed thoroughly, though, this afternoon, and as for his five hundred thousand dollars' indebtedness to the treasury, Mollenhauer did not see what could be done about that.
If Cowperwood could not pay it, the city would have to lose it; but the scandal must be hushed up until after election.