Capitalists and financiers -- Fiction; Psychological fiction
No, as he now said to himself, the rub was not nearly so much in his
own home, as it was in the Butler family. His relations with Edward
Malia Butler had become very intimate. He was now advising with him
constantly in regard to the handling of his securities, which were
numerous. Butler held stocks in such things as the Pennsylvania Coal
Company, the Delaware and Hudson Canal, the Morris and Essex Canal, the
Reading Railroad. As the old gentleman’s mind had broadened to the
significance of the local street-railway problem in Philadelphia, he
had decided to close out his other securities at such advantageous
terms as he could, and reinvest the money in local lines. He knew that
Mollenhauer and Simpson were doing this, and they were excellent judges
of the significance of local affairs. Like Cowperwood, he had the idea
that if he controlled sufficient of the local situation in this field,
he could at last effect a joint relationship with Mollenhauer and
Simpson. Political legislation, advantageous to the combined lines,
could then be so easily secured. Franchises and necessary extensions to
existing franchises could be added. This conversion of his outstanding
stock in other fields, and the picking up of odd lots in the local
street-railway, was the business of Cowperwood. Butler, through his
sons, Owen and Callum, was also busy planning a new line and obtaining
a franchise, sacrificing, of course, great blocks of stock and actual
cash to others, in order to obtain sufficient influence to have the
necessary legislation passed. Yet it was no easy matter, seeing that
others knew what the general advantages of the situation were, and
because of this Cowperwood, who saw the great source of profit here,
was able, betimes, to serve himself—buying blocks, a part of which only
went to Butler, Mollenhauer or others. In short he was not as eager to
serve Butler, or any one else, as he was to serve himself if he could.
Public-domain text, read in full here on John Shaqi.
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