Aileen Butler, during all this time, was following the trend of Cowperwood’s outward vicissitudes as heralded by the newspapers and the local gossip with as much interest and bias and enthusiasm for him as her powerful physical and affectional nature would permit. She was no great reasoner where affection entered in, but shrewd enough without it; and, although she saw him often and he told her much—as much as his natural caution would permit—she yet gathered from the newspapers and private conversation, at her own family’s table and elsewhere, that, as bad as they said he was, he was not as bad as he might be. One item only, clipped from the Philadelphia Public Ledger soon after Cowperwood had been publicly accused of embezzlement, comforted and consoled her. She cut it out and carried it in her bosom; for, somehow, it seemed to show that her adored Frank was far more sinned against than sinning. It was a part of one of those very numerous pronunciamientos or reports issued by the Citizens’ Municipal Reform Association, and it ran: “The aspects of the case are graver than have yet been allowed to reach the public. Five hundred thousand dollars of the deficiency arises not from city bonds sold and not accounted for, but from loans made by the treasurer to his broker. The committee is also informed, on what it believes to be good authority, that the loans sold by the broker were accounted for in the monthly settlements at the lowest prices current during the month, and that the difference between this rate and that actually realized was divided between the treasurer and the broker, thus making it to the interest of both parties to ‘bear’ the market at some time during the month, so as to obtain a low quotation for settlement. Nevertheless, the committee can only regard the prosecution instituted against the broker, Mr. Cowperwood, as an effort to divert public attention from more guilty parties while those concerned may be able to ‘fix’ matters to suit themselves.”