But Simpson was out of the city for a period of ten days, and Mollenhauer, having in mind the suggestion made by Butler in regard to utilizing Cowperwood’s misdeed for the benefit of the party, had already moved as they had planned. The letters were ready and waiting. Indeed, since the conference, the smaller politicians, taking their cue from the overlords, had been industriously spreading the story of the sixty-thousand-dollar check, and insisting that the burden of guilt for the treasury defalcation, if any, lay on the banker. The moment Mollenhauer laid eyes on Cowperwood he realized, however, that he had a powerful personality to deal with. Cowperwood gave no evidence of fright. He merely stated, in his bland way, that he had been in the habit of borrowing money from the city treasury at a low rate of interest, and that this panic had involved him so that he could not possibly return it at present. “I have heard rumors, Mr. Mollenhauer,” he said, “to the effect that some charge is to be brought against me as a partner with Mr. Stener in this matter; but I am hoping that the city will not do that, and I thought I might enlist your influence to prevent it. My affairs are not in a bad way at all, if I had a little time to arrange matters. I am making all of my creditors an offer of fifty cents on the dollar now, and giving notes at one, two, and three years; but in this matter of the city treasury loans, if I could come to terms, I would be glad to make it a hundred cents—only I would want a little more time. Stocks are bound to recover, as you know, and, barring my losses at this time, I will be all right. I realize that the matter has gone pretty far already. The newspapers are likely to start talking at any time, unless they are stopped by those who can control them.” (He looked at Mollenhauer in a complimentary way.) “But if I could be kept out of the general proceedings as much as possible, my standing would not be injured, and I would have a better chance of getting on my feet. It would be better for the city, for then I could certainly pay it what I owe it.” He smiled his most winsome and engaging smile. And Mollenhauer seeing him for the first time, was not unimpressed. Indeed he looked at this young financial David with an interested eye. If he could have seen a way to accept this proposition of Cowperwood’s, so that the money offered would have been eventually payable to him, and if Cowperwood had had any reasonable prospect of getting on his feet soon, he would have considered carefully what he had to say. For then Cowperwood could have assigned his recovered property to him. As it was, there was small likelihood of this situation ever being straightened out. The Citizens’ Municipal Reform Association, from all he could hear, was already on the move—investigating, or about to, and once they had set their hands to this, would unquestionably follow it closely to the end.