The Titan Part 21

By this time, owing to Cowperwood's understanding with McKenty, all possibility of the North Side company's securing additional franchises for unoccupied streets, or even the use of the La Salle Street tunnel, had ended. Kaffrath did not know this. Neither did the directors or officers of the company, but it was true. In addition, McKenty, through the aldermen, who were at his beck and call on the North Side, was beginning to stir up additional murmurs and complaints in order to discredit the present management. There was a great to-do in council over a motion on the part of somebody to compel the North Side company to throw out its old cars and lay better and heavier tracks.

Curiously, this did not apply so much to the West and South Sides, which were in the same condition. The rank and file of the city, ignorant of the tricks which were constantly being employed in politics to effect one end or another, were greatly cheered by this so-called "public uprising." They little knew the p.a.w.ns they were in the game, or how little sincerity const.i.tuted the primal impulse.

Quite by accident, apparently, one day Addison, thinking of the different men in the North Side company who might be of service to Cowperwood, and having finally picked young Kaffrath as the ideal agent, introduced himself to the latter at the Union League.

"That's a pretty heavy load of expense that's staring you North and West Side street-railway people in the face," he took occasion to observe.

"How's that?" asked Kaffrath, curiously, anxious to hear anything which concerned the development of the business.

"Well, unless I'm greatly mistaken, you, all of you, are going to be put to the expense of doing over your lines completely in a very little while--so I hear--introducing this new motor or cable system that they are getting on the South Side." Addison wanted to convey the impression that the city council or public sentiment or something was going to force the North Chicago company to indulge in this great and expensive series of improvements.

Kaffrath p.r.i.c.ked up his ears. What was the city Council going to do?

He wanted to know all about it. They discussed the whole situation--the nature of the cable-conduits, the cost of the power-houses, the need of new rails, and the necessity of heavier bridges, or some other means of getting over or under the river.

Addison took very good care to point out that the Chicago City or South Side Railway was in a much more fortunate position than either of the other two by reason of its freedom from the river-crossing problem.

Then he again commiserated the North Side company on its rather difficult position. "Your company will have a very great deal to do, I fancy," he reiterated.

Kaffrath was duly impressed and appropriately depressed, for his eight hundred shares would be depressed in value by the necessity of heavy expenditures for tunnels and other improvements. Nevertheless, there was some consolation in the thought that such betterment, as Addison now described, would in the long run make the lines more profitable.

But in the mean time there might be rough sailing. The old directors ought to act soon now, he thought. With the South Side company being done over, they would have to follow suit. But would they? How could he get them to see that, even though it were necessary to mortgage the lines for years to come, it would pay in the long run? He was sick of old, conservative, cautious methods.

After the lapse of a few weeks Addison, still acting for Cowperwood, had a second and private conference with Kaffrath. He said, after exacting a promise of secrecy for the present, that since their previous conversation he had become aware of new developments. In the interval he had been visited by several men of long connection with street-railways in other localities. They had been visiting various cities, looking for a convenient outlet for their capital, and had finally picked on Chicago. They had looked over the various lines here, and had decided that the North Chicago City Railway was as good a field as any. He then elaborated with exceeding care the idea which Cowperwood had outlined to him. Kaffrath, dubious at first, was finally won over. He had too long chafed under the dusty, poky att.i.tude of the old regime. He did not know who these new men were, but this scheme was in line with his own ideas. It would require, as Addison pointed out, the expenditure of several millions of dollars, and he did not see how the money could be raised without outside a.s.sistance, unless the lines were heavily mortgaged. If these new men were willing to pay a high rate for fifty-one per cent. of this stock for ninety-nine years and would guarantee a satisfactory rate of interest on all the stock as it stood, besides inaugurating a forward policy, why not let them? It would be just as good as mortgaging the soul out of the old property, and the management was of no value, anyhow. Kaffrath could not see how fortunes were to be made for these new investors out of subsidiary construction and equipment companies, in which Cowperwood would be interested, how by issuing watered stock on the old and new lines the latter need scarcely lay down a dollar once he had the necessary opening capital (the "talking capital," as he was fond of calling it) guaranteed. Cowperwood and Addison had by now agreed, if this went through, to organize the Chicago Trust Company with millions back of it to manipulate all their deals. Kaffrath only saw a better return on his stock, possibly a chance to get in on the "ground plan," as a new phrase expressed it, of the new company.

"That's what I've been telling these fellows for the past three years,"

he finally exclaimed to Addison, flattered by the latter's personal attention and awed by his great influence; "but they never have been willing to listen to me. The way this North Side system has been managed is a crime. Why, a child could do better than we have done.

They've saved on track and rolling-stock, and lost on population.

People are what we want up there, and there is only one way that I know of to get them, and that is to give them decent car service. I'll tell you frankly we've never done it."

Not long after this Cowperwood had a short talk with Kaffrath, in which he promised the latter not only six hundred dollars a share for all the stock he possessed or would part with on lease, but a bonus of new company stock for his influence. Kaffrath returned to the North Side jubilant for himself and for his company. He decided after due thought that a roundabout way would best serve Cowperwood's ends, a line of subtle suggestion from some seemingly disinterested party.

Consequently he caused William Johnson, the directing engineer, to approach Albert Thorsen, one of the most vulnerable of the directors, declaring he had heard privately that Isaac White, Arnold C. Benjamin, and Otto Matjes, three other directors and the heaviest owners, had been offered a very remarkable price for their stock, and that they were going to sell, leaving the others out in the cold.

Thorsen was beside himself with grief. "When did you hear that?" he asked.

Johnson told him, but for the time being kept the source of his information secret. Thorsen at once hurried to his friend, Solon Kaempfaert, who in turn went to Kaffrath for information.

"I have heard something to that effect," was Kaffrath's only comment, "but really I do not know."

Thereupon Thorsen and Kaempfaert imagined that Kaffrath was in the conspiracy to sell out and leave them with no particularly valuable pickings. It was very sad.

Meanwhile, Cowperwood, on the advice of Kaffrath, was approaching Isaac White, Arnold C. Benjamin, and Otto Matjes direct--talking with them as if they were the only three he desired to deal with. A little later Thorsen and Kaempfaert were visited in the same spirit, and agreed in secret fear to sell out, or rather lease at the very advantageous terms Cowperwood offered, providing he could get the others to do likewise.

This gave the latter a strong backing of sentiment on the board.

Finally Isaac White stated at one of the meetings that he had been approached with an interesting proposition, which he then and there outlined. He was not sure what to think, he said, but the board might like to consider it. At once Thorsen and Kaempfaert were convinced that all Johnson had suggested was true. It was decided to have Cowperwood come and explain to the full board just what his plan was, and this he did in a long, bland, smiling talk. It was made plain that the road would have to be put in shape in the near future, and that this proposed plan relieved all of them of work, worry, and care. Moreover, they were guaranteed more interest at once than they had expected to earn in the next twenty or thirty years. Thereupon it was agreed that Cowperwood and his plan should be given a trial. Seeing that if he did not succeed in paying the proposed interest promptly the property once more became theirs, so they thought, and that he a.s.sumed all obligations--taxes, water rents, old claims, a few pensions--it appeared in the light of a rather idyllic scheme.

"Well, boys, I think this is a pretty good day's work myself," observed Anthony Ewer, laying a friendly hand on the shoulder of Mr. Albert Thorsen. "I'm sure we can all unite in wishing Mr. Cowperwood luck with his adventure." Mr. Ewer's seven hundred and fifteen shares, worth seventy-one thousand five hundred dollars, having risen to a valuation of four hundred and twenty-nine thousand dollars, he was naturally jubilant.

"You're right," replied Thorsen, who was parting with four hundred and eighty shares out of a total of seven hundred and ninety, and seeing them all bounce in value from two hundred to six hundred dollars.

"He's an interesting man. I hope he succeeds."

Cowperwood, waking the next morning in Aileen's room--he had been out late the night before with McKenty, Addison, Videra, and others--turned and, patting her neck where she was dozing, said: "Well, pet, yesterday afternoon I wound up that North Chicago Street Railway deal. I'm president of the new North Side company just as soon as I get my board of directors organized. We're going to be of some real consequence in this village, after all, in a year or two."

He was hoping that this fact, among other things, would end in mollifying Aileen toward him. She had been so gloomy, remote, weary these many days--ever since the terrific a.s.sault on Rita.

"Yes?" she replied, with a half-hearted smile, rubbing her waking eyes.

She was clad in a foamy nightgown of white and pink. "That's nice, isn't it?"

Cowperwood brought himself up on one elbow and looked at her, smoothing her round, bare arms, which he always admired. The luminous richness of her hair had never lost its charm completely.

"That means that I can do the same thing with the Chicago West Division Company in a year or so," he went on. "But there's going to be a lot of talk about this, I'm afraid, and I don't want that just now. It will work out all right. I can see Schryhart and Merrill and some of these other people taking notice pretty soon. They've missed out on two of the biggest things Chicago ever had--gas and railways."

"Oh yes, Frank, I'm glad for you," commented Aileen, rather drearily, who, in spite of her sorrow over his defection, was still glad that he was going on and forward. "You'll always do all right."

"I wish you wouldn't feel so badly, Aileen," he said, with a kind of affectional protest. "Aren't you going to try and be happy with me?

This is as much for you as for me. You will be able to pay up old scores even better than I will."

He smiled winningly.

"Yes," she replied, reproachfully but tenderly at that, a little sorrowfully, "a lot of good money does me. It was your love I wanted."

"But you have that," he insisted. "I've told you that over and over.

I never ceased to care for you really. You know I didn't."

"Yes, I know," she replied, even as he gathered her close in his arms.

"I know how you care." But that did not prevent her from responding to him warmly, for back of all her fuming protest was heartache, the wish to have his love intact, to restore that pristine affection which she had once a.s.sumed would endure forever.

Chapter XXIII

The Power of the Press

The morning papers, in spite of the efforts of Cowperwood and his friends to keep this transfer secret, shortly thereafter were full of rumors of a change in "North Chicago." Frank Algernon Cowperwood, hitherto unmentioned in connection with Chicago street-railways, was pointed to as the probable successor to Onias C. Skinner, and Edwin L.

Kaffrath, one of the old directors, as future vice-president. The men back of the deal were referred to as "in all likelihood Eastern capitalists." Cowperwood, as he sat in Aileen's room examining the various morning papers, saw that before the day was over he would be sought out for an expression of opinion and further details. He proposed to ask the newspaper men to wait a few days until he could talk to the publishers of the papers themselves--win their confidence--and then announce a general policy; it would be something that would please the city, and the residents of the North Side in particular. At the same time he did not care to promise anything which he could not easily and profitably perform. He wanted fame and reputation, but he wanted money even more; he intended to get both.

To one who had been working thus long in the minor realms of finance, as Cowperwood considered that he had so far been doing, this sudden upward step into the more conspicuous regions of high finance and control was an all-inspiring thing. So long had he been stirring about in a lesser region, paving the way by hours and hours of private thought and conference and scheming, that now when he actually had achieved his end he could scarcely believe for the time being that it was true. Chicago was such a splendid city. It was growing so fast.

Its opportunities were so wonderful. These men who had thus foolishly parted with an indefinite lease of their holdings had not really considered what they were doing. This matter of Chicago street-railways, once he had them well in hand, could be made to yield such splendid profits! He could incorporate and overcapitalize. Many subsidiary lines, which McKenty would secure for him for a song, would be worth millions in the future, and they should be his entirely; he would not be indebted to the directors of the old North Chicago company for any interest on those. By degrees, year by year, as the city grew, the lines which were still controlled by this old company, but were practically his, would become a mere item, a central core, in the so very much larger system of new lines which he would build up about it.

Then the West Side, and even the South Side sections--but why dream? He might readily become the sole master of street-railway traffic in Chicago! He might readily become the most princely financial figure in the city--and one of the few great financial magnates of the nation.

In any public enterprise of any kind, as he knew, where the suffrages of the people or the privileges in their possessions are desired, the newspapers must always be considered. As Cowperwood even now was casting hungry eyes in the direction of the two tunnels--one to be held in view of an eventual a.s.sumption of the Chicago West Division Company, the other to be given to the North Chicago Street Railway, which he had now organized, it was necessary to make friends with the various publishers. How to go about it?

Recently, because of the influx of a heavy native and foreign-born population (thousands and thousands of men of all sorts and conditions looking for the work which the growth of the city seemed to promise), and because of the dissemination of stirring ideas through radical individuals of foreign groups concerning anarchism, socialism, communism, and the like, the civic idea in Chicago had become most acute. This very May, in which Cowperwood had been going about attempting to adjust matters in his favor, there had been a tremendous national flare-up, when in a great public place on the West Side known as the Haymarket, at one of a number of labor meetings, dubbed anarchistic because of the principles of some of the speakers, a bomb had been hurled by some excited fanatic, which had exploded and maimed or killed a number of policemen, injuring slightly several others.

This had brought to the fore, once and for all, as by a flash of lightning, the whole problem of ma.s.s against cla.s.s, and had given it such an airing as in view of the cheerful, optimistic, almost inconsequential American mind had not previously been possible. It changed, quite as an eruption might, the whole face of the commercial landscape. Man thought thereafter somewhat more accurately of national and civic things. What was anarchism? What socialism? What rights had the rank and file, anyhow, in economic and governmental development?

Such were interesting questions, and following the bomb--which acted as a great stone cast in the water--these ripple-rings of thought were still widening and emanating until they took in such supposedly remote and impregnable quarters as editorial offices, banks and financial inst.i.tutions generally, and the haunts of political dignitaries and their jobs.

In the face of this, however, Cowperwood was not disturbed. He did not believe in either the strength of the ma.s.ses or their ultimate rights, though he sympathized with the condition of individuals, and did believe that men like himself were sent into the world to better perfect its mechanism and habitable order. Often now, in these preliminary days, he looked at the large companies of men with their horses gathered in and about the several carbarns of the company, and wondered at their state. So many of them were so dull. They were rather like animals, patient, inartistic, hopeless. He thought of their shabby homes, their long hours, their poor pay, and then concluded that if anything at all could be done for them it would be pay them decent living wages, which he proposed to do--nothing more.

They could not be expected to understand his dreams or his visions, or to share in the magnificence and social dominance which he craved. He finally decided that it would be as well for him to personally visit the various newspaper publishers and talk the situation over with them.

Addison, when consulted as to this project, was somewhat dubious. He had small faith in the newspapers.

He had seen them play petty politics, follow up enmities and personal grudges, and even sell out, in certain cases, for pathetically small rewards.

"I tell you how it is, Frank," remarked Addison, on one occasion. "You will have to do all this business on cotton heels, practically. You know that old gas crowd are still down on you, in spite of the fact that you are one of their largest stockholders. Schryhart isn't at all friendly, and he practically owns the Chronicle. Ricketts will just about say what he wants him to say. Hyssop, of the Mail and the Transcript, is an independent man, but he's a Presbyterian and a cold, self-righteous moralist. Braxton's paper, the Globe, practically belongs to Merrill, but Braxton's a nice fellow, at that. Old General MacDonald, of the Inquirer, is old General MacDonald. It's all according to how he feels when he gets up in the morning. If he should chance to like your looks he might support you forever and forever until you crossed his conscience in some way. He's a fine old walrus.