Kaffrath could not see how fortunes were to be made for these new investors out of subsidiary construction and equipment companies, in which Cowperwood would be interested, how by issuing watered stock on the old and new lines the latter need scarcely lay down a dollar once he had the necessary opening capital (the “talking capital,” as he was fond of calling it) guaranteed.
Cowperwood and Addison had by now agreed, if this went through, to organize the Chicago Trust Company with millions back of it to manipulate all their deals.
Kaffrath only saw a better return on his stock, possibly a chance to get in on the “ground plan,” as a new phrase expressed it, of the new company.
“That’s what I’ve been telling these fellows for the past three years,” he finally exclaimed to Addison, flattered by the latter’s personal attention and awed by his great influence; “but they never have been willing to listen to me.
The way this North Side system has been managed is a crime.
Why, a child could do better than we have done.
They’ve saved on track and rolling-stock, and lost on population.
People are what we want up there, and there is only one way that I know of to get them, and that is to give them decent car service.
I’ll tell you frankly we’ve never done it.”
Not long after this Cowperwood had a short talk with Kaffrath, in which he promised the latter not only six hundred dollars a share for all the stock he possessed or would part with on lease, but a bonus of new company stock for his influence.
Kaffrath returned to the North Side jubilant for himself and for his company.
He decided after due thought that a roundabout way would best serve Cowperwood’s ends, a line of subtle suggestion from some seemingly disinterested party.
Consequently he caused William Johnson, the directing engineer, to approach Albert Thorsen, one of the most vulnerable of the directors, declaring he had heard privately that Isaac White, Arnold C.
Benjamin, and Otto Matjes, three other directors and the heaviest owners, had been offered a very remarkable price for their stock, and that they were going to sell, leaving the others out in the cold.
Thorsen was beside himself with grief.
“When did you hear that?” he asked.
Johnson told him, but for the time being kept the source of his information secret.
Thorsen at once hurried to his friend, Solon Kaempfaert, who in turn went to Kaffrath for information.
“I have heard something to that effect,” was Kaffrath’s only comment, “but really I do not know.”
Thereupon Thorsen and Kaempfaert imagined that Kaffrath was in the conspiracy to sell out and leave them with no particularly valuable pickings.
It was very sad.
Meanwhile, Cowperwood, on the advice of Kaffrath, was approaching Isaac White, Arnold C.
Benjamin, and Otto Matjes direct—talking with them as if they were the only three he desired to deal with.
A little later Thorsen and Kaempfaert were visited in the same spirit, and agreed in secret fear to sell out, or rather lease at the very advantageous terms Cowperwood offered, providing he could get the others to do likewise.
This gave the latter a strong backing of sentiment on the board.
Finally Isaac White stated at one of the meetings that he had been approached with an interesting proposition, which he then and there outlined.
He was not sure what to think, he said, but the board might like to consider it.
At once Thorsen and Kaempfaert were convinced that all Johnson had suggested was true.
It was decided to have Cowperwood come and explain to the full board just what his plan was, and this he did in a long, bland, smiling talk.
It was made plain that the road would have to be put in shape in the near future, and that this proposed plan relieved all of them of work, worry, and care.
Moreover, they were guaranteed more interest at once than they had expected to earn in the next twenty or thirty years.
Thereupon it was agreed that Cowperwood and his plan should be given a trial.
Seeing that if he did not succeed in paying the proposed interest promptly the property once more became theirs, so they thought, and that he assumed all obligations—taxes, water rents, old claims, a few pensions—it appeared in the light of a rather idyllic scheme.
“Well, boys, I think this is a pretty good day’s work myself,” observed Anthony Ewer, laying a friendly hand on the shoulder of Mr. Albert Thorsen.
“I’m sure we can all unite in wishing Mr. Cowperwood luck with his adventure.”
Mr. Ewer’s seven hundred and fifteen shares, worth seventy-one thousand five hundred dollars, having risen to a valuation of four hundred and twenty-nine thousand dollars, he was naturally jubilant.
“You’re right,” replied Thorsen, who was parting with four hundred and eighty shares out of a total of seven hundred and ninety, and seeing them all bounce in value from two hundred to six hundred dollars.
“He’s an interesting man.
I hope he succeeds.”
Cowperwood, waking the next morning in Aileen’s room—he had been out late the night before with McKenty, Addison, Videra, and others—turned and, patting her neck where she was dozing, said:
“Well, pet, yesterday afternoon I wound up that North Chicago Street Railway deal.
I’m president of the new North Side company just as soon as I get my board of directors organized.
We’re going to be of some real consequence in this village, after all, in a year or two.”
He was hoping that this fact, among other things, would end in mollifying Aileen toward him.
She had been so gloomy, remote, weary these many days—ever since the terrific assault on Rita.
“Yes?” she replied, with a half-hearted smile, rubbing her waking eyes. She was clad in a foamy nightgown of white and pink. “That’s nice, isn’t it?”
Cowperwood brought himself up on one elbow and looked at her, smoothing her round, bare arms, which he always admired.
The luminous richness of her hair had never lost its charm completely.
“That means that I can do the same thing with the Chicago West Division Company in a year or so,” he went on.
“But there’s going to be a lot of talk about this, I’m afraid, and I don’t want that just now.