The attitude of the solicitor in his role of temporary host was anxious.
Cowperwood said he would indeed enjoy passing the time in that way, and Johnson led him to an extensive gallery in the main entrance.
As they walked through the gallery, pausing to examine several rare portraits by Romney and Gainsborough, Johnson launched upon a brief history of the House of Stane.
The late Earl had been a cautious and studious person, interested principally in Hittite excavations and translations, and had expended a great deal of money, for which historians, so it was said, were duly grateful.
Young Stane, rather more than less alienated by his father’s antiquarian interests, had turned to society and finance for diversion and development. He was very popular, a distinguished fashion figure as well as financier.
And in season this house was the scene of many social functions.
His country seat in Tregasal was one of the show places of England.
There was also a charming summer cottage at Pryor’s Cove, near Marlowe on the Thames, and a wine farm in France.
At the mention of Berenice’s present abode, Cowperwood repressed a smile, but was prevented from making any comment by the arrival of Stane himself, who greeted them both in an easy, casual manner.
“Oh, there you are, Johnson!
And, of course, this is Mr. Cowperwood.”
He extended his hand, and Cowperwood, measuring him swiftly and favorably, took it and pressed it heartily.
“This is a pleasure and a privilege, I assure you,” he said.
“Not at all, not at all,” replied Stane.
“Elverson has told me all about you.
I think, though, we might be a little more comfortable in the library. Shall we go?”
He pulled a bell rope, telling the man to bring drinks, and led the way into a charming room with French windows looking out on a walled garden.
While he moved about, acting the part of host, Cowperwood continued to study him.
He found his own mood decidedly friendly toward this man.
There was an easy, genial courtesy and awareness about him that bespoke value to the person who could win his confidence.
But this confidence could not be won easily.
He would have to be fairly and advantageously treated.
Just the same, Cowperwood now decided definitely against revealing at this time the inside workings of his proposition.
At the same time, he found himself thinking of Berenice, for he and she had tacitly agreed that she might be called on to play a social role in connection with just such people as Stane.
But now that he proved to be so attractive, he was not sure that he was willing to have her do this.
He composed himself, however, while Johnson began outlining his ideas on the underground situation.
When Johnson had finished, Cowperwood began, softly and smoothly, expounding his plan of unification.
He dwelt especially on electrification, lighting, the new method of separate motor power for each car, air brakes, and automatic signals.
And at only one point did Stane interrupt to ask:
“Do you contemplate a personal or directorial control of this entire system?”
“Directorial, of course,” replied Cowperwood, who was really contemplating no such thing.
“You see,” he went on, as both observed him silently, “it is my plan, if I could bring about a unified system, to form a new company and include this Charing Cross which I now own.
And in order to get the present shareholders of the loop companies to come in, I would offer them three shares in this larger company for each one they now hold in these smaller ones.
And since the Charing Cross is going to cost at least ?2,000,000 to build, you can see that there would be a considerable increase in the value of their holdings.”
He paused to note how this affected his listeners, and saw that it did so favorably. He then proceeded.
“Would you say that the plan should be profitable, particularly when it is agreed beforehand that all of the lines of this new company are to be modernized and operated as one system, and at no additional cost to the shareholders but rather by selling shares to the public?”
“I should certainly say so,” commented Stane, to which Johnson nodded in agreement.
“Well, there you have my plan in a general way,” said Cowperwood.
“Of course, there might be additional ramifications, but that would be something for the directors of the new larger system to decide on.”
He was thinking of Scarr, Haddonfield, and others whose acts, if he secured control of them, would have to be bought from him.
But at this point Stane scratched his ear meditatively.
“As I see it,” he said, “this three-for-one arrangement merely covers the matter of luring such shareholders as might be interested into joining with you on that basis.
But you are forgetting, I think, the matter of sentiment, which is certain to be against you.
And that being true, you may be sure that offering three shares for one will not bring in enough of the present owners to permit you to do as you wish on your terms, which, as I assume, would mean general control for you.
For, you see, they are set on a purely English control.
Both Johnson and I, since the announcement of your purchase of the Charing Cross act, have discovered that.
Besides, there has already developed quite a little opposition in both the Metropolitan and the District, even a tendency to combine against you.
And heaven knows the directors of those two lines have never been too affectionate towards each other up to this time!”
Here Johnson chuckled dryly.
“So unless you move with the greatest caution and tact at every point,” continued Stane, “have the right people approached in the right way, and preferably by English rather than American factors, you are likely to find yourself blocked.”