“I’ll tell you how it is, Judah,” one bank president confided to him, in great secrecy. “We owe Timothy Arneel at least three hundred thousand dollars that we only have to pay three per cent. for. It’s a call-loan. Besides, the Lake National is our main standby when it comes to quick trades, and he’s in on that. I understand from one or two friends that he’s at outs with Cowperwood, and we can’t afford to offend him. I’d like to, but no more for me—not at present, anyhow.” “Why, Simmons,” replied Addison, “these fellows are simply cutting off their noses to spite their faces. These stock and bond issues are perfectly good investments, and no one knows it better than you do. All this hue and cry in the newspapers against Cowperwood doesn’t amount to anything. He’s perfectly solvent. Chicago is growing. His lines are becoming more valuable every year.” “I know that,” replied Simmons. “But what about this talk of a rival elevated system? Won’t that injure his lines for the time being, anyhow, if it comes into the field?” “If I know anything about Cowperwood,” replied Addison, simply, “there isn’t going to be any rival elevated road. It’s true they got the city council to give them a franchise for one line on the South Side; but that’s out of his territory, anyhow, and that other one to the Chicago General Company doesn’t amount to anything. It will be years and years before it can be made to pay a dollar, and when the time comes he will probably take it over if he wants it. Another election will be held in two years, and then the city administration may not be so unfavorable. As it is, they haven’t been able to hurt him through the council as much as they thought they would.” “Yes; but he lost the election.” “True; but it doesn’t follow he’s going to lose the next one, or every one.” “Just the same,” replied Simmons, very secretively, “I understand there’s a concerted effort on to drive him out. Schryhart, Hand, Merrill, Arneel—they’re the most powerful men we have. I understand Hand says that he’ll never get his franchises renewed except on terms that’ll make his lines unprofitable. There’s going to be an awful smash here one of these days if that’s true.” Mr. Simmons looked very wise and solemn. “Never believe it,” replied Addison, contemptuously. “Hand isn’t Chicago, neither is Schryhart, nor Arneel. Cowperwood is a brainy man. He isn’t going to be put under so easily. Did you ever hear what was the real bottom cause of all this disturbance?” “Yes, I’ve heard,” replied Simmons. “Do you believe it?” “Oh, I don’t know. Yes, I suppose I do. Still, I don’t know that that need have anything to do with it. Money envy is enough to make any man fight. This man Hand is very powerful.” Not long after this Cowperwood, strolling into the president’s office of the Chicago Trust Company, inquired: “Well, Judah, how about those Northwestern ‘L’ bonds?”