“The fact is that I have been buying street-railway stocks, but not for myself exactly. I am going to do something now which I think I ought not to do, but I cannot help myself. If I don’t do it, it will injure you and a lot of people whom I do not wish to injure. I know you are naturally interested in the outcome of the fall election. The truth is I have been carrying a lot of stocks for Mr. Stener and some of his friends. I do not know that all the money has come from the city treasury, but I think that most of it has. I know what that means to Mr. Stener and the Republican party and your interests in case I fail. I don’t think Mr. Stener started this of his own accord in the first place—I think I am as much to blame as anybody—but it grew out of other things. As you know, I handled that matter of city loan for him and then some of his friends wanted me to invest in street-railways for them. I have been doing that ever since. Personally I have borrowed considerable money from Mr. Stener at two per cent. In fact, originally the transactions were covered in that way. Now I don’t want to shift the blame on any one. It comes back to me and I am willing to let it stay there, except that if I fail Mr. Stener will be blamed and that will reflect on the administration. Naturally, I don’t want to fail. There is no excuse for my doing so. Aside from this panic I have never been in a better position in my life. But I cannot weather this storm without assistance, and I want to know if you won’t help me. If I pull through I will give you my word that I will see that the money which has been taken from the treasury is put back there. Mr. Stener is out of town or I would have brought him here with me.” Cowperwood was lying out of the whole cloth in regard to bringing Stener with him, and he had no intention of putting the money back in the city treasury except by degrees and in such manner as suited his convenience; but what he had said sounded well and created a great seeming of fairness. “How much money is it Stener has invested with you?” asked Butler. He was a little confused by this curious development. It put Cowperwood and Stener in an odd light. “About five hundred thousand dollars,” replied Cowperwood. The old man straightened up. “Is it as much as that?” he said. “Just about—a little more or a little less; I’m not sure which.”