He had been one of the first to become interested in the development of the street-car system and had come to the conclusion, as had Cowperwood and many others, that it was going to be a great thing. The money returns on the stocks or shares he had been induced to buy had been ample evidence of that, He had dealt through one broker and another, having failed to get in on the original corporate organizations. He wanted to pick up such stock as he could in one organization and another, for he believed they all had a future, and most of all he wanted to get control of a line or two. In connection with this idea he was looking for some reliable young man, honest and capable, who would work under his direction and do what he said. Then he learned of Cowperwood, and one day sent for him and asked him to call at his house.
Cowperwood responded quickly, for he knew of Butler, his rise, his connections, his force. He called at the house as directed, one cold, crisp February morning. He remembered the appearance of the street afterwardbroad, brick-paved sidewalks, macadamized roadway, powdered over with a light snow and set with young, leafless, scrubby trees and lamp-posts. Butlers house was not newhe had bought and repaired itbut it was not an unsatisfactory specimen of the architecture of the time. It was fifty feet wide, four stories tall, of graystone and with four wide, white stone steps leading up to the door. The window arches, framed in white, had U-shaped keystones. There were curtains of lace and a glimpse of red plush through the windows, which gleamed warm against the cold and snow outside. A trim Irish maid came to the door and he gave her his card and was invited into the house.
Is Mr. Butler home?
Im not sure, sir. Ill find out. He may have gone out.
In a little while he was asked to come upstairs, where he found Butler in a somewhat commercial-looking room. It had a desk, an office chair, some leather furnishings, and a bookcase, but no completeness or symmetry as either an office or a living room. There were several pictures on the wallan impossible oil painting, for one thing, dark and gloomy; a canal and barge scene in pink and nile green for another; some daguerreotypes of relatives and friends which were not half bad. Cowperwood noticed one of two girls, one with reddish-gold hair, another with what appeared to be silky brown. The beautiful silver effect of the daguerreotype had been tinted. They were pretty girls, healthy, smiling, Celtic, their heads close together, their eyes looking straight out at you. He admired them casually, and fancied they must be Butlers daughters.
Mr. Cowperwood? inquired Butler, uttering the name fully with a peculiar accent on the vowels. (He was a slow-moving man, solemn and deliberate.) Cowperwood noticed that his body was hale and strong like seasoned hickory, tanned by wind and rain. The flesh of his cheeks was pulled taut and there was nothing soft or flabby about him.
Im that man.
I have a little matter of stocks to talk over with you (matter almost sounded like mather), and I thought youd better come here rather than that I should come down to your office. We can be more private-like, and, besides, Im not as young as I used to be.
He allowed a semi-twinkle to rest in his eye as he looked his visitor over.
Cowperwood smiled.
Well, I hope I can be of service to you, he said, genially.
I happen to be interested just at present in pickin up certain street-railway stocks on change. Ill tell you about them later. Wont you have somethin to drink? Its a cold morning.
No, thanks; I never drink.
Never? Thats a hard word when it comes to whisky. Well, no matter. Its a good rule. My boys dont touch anything, and Im glad of it. As I say, Im interested in pickin up a few stocks on change; but, to tell you the truth, Im more interested in findin some clever young felly like yourself through whom I can work. One thing leads to another, you know, in this world. And he looked at his visitor non-committally, and yet with a genial show of interest.
Quite so, replied Cowperwood, with a friendly gleam in return.
Well, Butler meditated, half to himself, half to Cowperwood, there are a number of things that a bright young man could do for me in the street if he were so minded. I have two bright boys of my own, but I dont want them to become stock-gamblers, and I dont know that they would or could if I wanted them to. But this isnt a matter of stock-gambling. Im pretty busy as it is, and, as I said awhile ago, Im getting along. Im not as light on my toes as I once was. But if I had the right sort of a young manIve been looking into your record, by the way, never fearhe might handle a number of little thingsinvestments and loanswhich might bring us each a little somethin. Sometimes the young men around town ask advice of me in one way and anotherthey have a little somethin to invest, and so
He paused and looked tantalizingly out of the window, knowing full well Cowperwood was greatly interested, and that this talk of political influence and connections could only whet his appetite. Butler wanted him to see clearly that fidelity was the point in this casefidelity, tact, subtlety, and concealment.
Well, if you have been looking into my record, observed Cowperwood, with his own elusive smile, leaving the thought suspended.
Butler felt the force of the temperament and the argument. He liked the young mans poise and balance. A number of people had spoken of Cowperwood to him. (It was now Cowperwood & Co. The company was fiction purely.) He asked him something about the street; how the market was running; what he knew about street-railways. Finally he outlined his plan of buying all he could of the stock of two given linesthe Ninth and Tenth and the Fifteenth and Sixteenthwithout attracting any attention, if possible. It was to be done slowly, part on change, part from individual holders. He did not tell him that there was a certain amount of legislative pressure he hoped to bring to bear to get him franchises for extensions in the regions beyond where the lines now ended, in order that when the time came for them to extend their facilities they would have to see him or his sons, who might be large minority stockholders in these very concerns. It was a far-sighted plan, and meant that the lines would eventually drop into his or his sons basket.
Ill be delighted to work with you, Mr. Butler, in any way that you may suggest, observed Cowperwood. I cant say that I have so much of a business as yetmerely prospects. But my connections are good. I am now a member of the New York and Philadelphia exchanges. Those who have dealt with me seem to like the results I get.
I know a little something about your work already, reiterated Butler, wisely.
Very well, then; whenever you have a commission you can call at my office, or write, or I will call here. I will give you my secret operating code, so that anything you say will be strictly confidential.
Well, well not say anything more now. In a few days Ill have somethin for you. When I do, you can draw on my bank for what you need, up to a certain amount. He got up and looked out into the street, and Cowperwood also arose.
Its a fine day now, isnt it?
It surely is.
Well, well get to know each other better, Im sure.
He held out his hand.
I hope so.
Cowperwood went out, Butler accompanying him to the door. As he did so a young girl bounded in from the street, red-cheeked, blue-eyed, wearing a scarlet cape with the peaked hood thrown over her red-gold hair.
Oh, daddy, I almost knocked you down.
She gave her father, and incidentally Cowperwood, a gleaming, radiant, inclusive smile. Her teeth were bright and small, and her lips bud-red.
Youre home early. I thought you were going to stay all day?
I was, but I changed my mind.
She passed on in, swinging her arms.
Yes, well Butler continued, when she had gone. Then well leave it for a day or two. Good day.
Good day.
Cowperwood, warm with this enhancing of his financial prospects, went down the steps; but incidentally he spared a passing thought for the gay spirit of youth that had manifested itself in this red-cheeked maiden. What a bright, healthy, bounding girl! Her voice had the subtle, vigorous ring of fifteen or sixteen. She was all vitality. What a fine catch for some young fellow some day, and her father would make him rich, no doubt, or help to.
Chapter XII
It was to Edward Malia Butler that Cowperwood turned now, some nineteen months later when he was thinking of the influence that might bring him an award of a portion of the State issue of bonds. Butler could probably be interested to take some of them himself, or could help him place some. He had come to like Cowperwood very much and was now being carried on the latters books as a prospective purchaser of large blocks of stocks. And Cowperwood liked this great solid Irishman. He liked his history. He had met Mrs. Butler, a rather fat and phlegmatic Irish woman with a world of hard sense who cared nothing at all for show and who still liked to go into the kitchen and superintend the cooking. He had met Owen and Callum Butler, the boys, and Aileen and Norah, the girls. Aileen was the one who had bounded up the steps the first day he had called at the Butler house several seasons before.
There was a cozy grate-fire burning in Butlers improvised private office when Cowperwood called. Spring was coming on, but the evenings were cool. The older man invited Cowperwood to make himself comfortable in one of the large leather chairs before the fire and then proceeded to listen to his recital of what he hoped to accomplish.
Well, now, that isnt so easy, he commented at the end. You ought to know more about that than I do. Im not a financier, as you well know. And he grinned apologetically.
Its a matter of influence, went on Cowperwood. And favoritism. That I know. Drexel & Company and Cooke & Company have connections at Harrisburg. They have men of their own looking after their interests. The attorney-general and the State treasurer are hand in glove with them. Even if I put in a bid, and can demonstrate that I can handle the loan, it wont help me to get it. Other people have done that. I have to have friendsinfluence. You know how it is.
Them things, Butler said, is easy enough if you know the right parties to approach. Now theres Jimmy Oliverhe ought to know something about that. Jimmy Oliver was the whilom district attorney serving at this time, and incidentally free adviser to Mr. Butler in many ways. He was also, accidentally, a warm personal friend of the State treasurer.
How much of the loan do you want?
Five million.
Five million! Butler sat up. Man, what are you talking about? Thats a good deal of money. Where are you going to sell all that?
I want to bid for five million, assuaged Cowperwood, softly. I only want one million but I want the prestige of putting in a bona fide bid for five million. It will do me good on the street.
Butler sank back somewhat relieved.
Five million! Prestige! You want one million. Well, now, thats different. Thats not such a bad idea. We ought to be able to get that.
He rubbed his chin some more and stared into the fire.
And Cowperwood felt confident when he left the house that evening that Butler would not fail him but would set the wheels working. Therefore, he was not surprised, and knew exactly what it meant, when a few days later he was introduced to City Treasurer Julian Bode, who promised to introduce him to State Treasurer Van Nostrand and to see that his claims to consideration were put before the people. Of course, you know, he said to Cowperwood, in the presence of Butler, for it was at the latters home that the conference took place, this banking crowd is very powerful. You know who they are. They dont want any interference in this bond issue business. I was talking to Terrence Relihan, who represents them up theremeaning Harrisburg, the State capitaland he says they wont stand for it at all. You may have trouble right here in Philadelphia after you get ittheyre pretty powerful, you know. Are you sure just where you can place it?
Yes, Im sure, replied Cowperwood.
Well, the best thing in my judgment is not to say anything at all. Just put in your bid. Van Nostrand, with the governors approval, will make the award. We can fix the governor, I think. After you get it they may talk to you personally, but thats your business.
Cowperwood smiled his inscrutable smile. There were so many ins and outs to this financial life. It was an endless network of underground holes, along which all sorts of influences were moving. A little wit, a little nimbleness, a little luck-time and opportunitythese sometimes availed. Here he was, through his ambition to get on, and nothing else, coming into contact with the State treasurer and the governor. They were going to consider his case personally, because he demanded that it be considerednothing more. Others more influential than himself had quite as much right to a share, but they didnt take it. Nerve, ideas, aggressiveness, how these counted when one had luck!
He went away thinking how surprised Drexel & Co. and Cooke & Co. would be to see him appearing in the field as a competitor. In his home, in a little room on the second floor next his bedroom, which he had fixed up as an office with a desk, a safe, and a leather chair, he consulted his resources. There were so many things to think of. He went over again the list of people whom he had seen and whom he could count on to subscribe, and in so far as that was concernedthe award of one million dollarshe was safe. He figured to make two per cent. on the total transaction, or twenty thousand dollars. If he did he was going to buy a house out on Girard Avenue beyond the Butlers, or, better yet, buy a piece of ground and erect one; mortgaging house and property so to do. His father was prospering nicely. He might want to build a house next to him, and they could live side by side. His own business, aside from this deal, would yield him ten thousand dollars this year. His street-car investments, aggregating fifty thousand, were paying six per cent. His wifes property, represented by this house, some government bonds, and some real estate in West Philadelphia amounted to forty thousand more. Between them they were rich; but he expected to be much richer. All he needed now was to keep cool. If he succeeded in this bond-issue matter, he could do it again and on a larger scale. There would be more issues. He turned out the light after a while and went into his wifes boudoir, where she was sleeping. The nurse and the children were in a room beyond.
Well, Lillian, he observed, when she awoke and turned over toward him, I think I have that bond matter that I was telling you about arranged at last. I think Ill get a million of it, anyhow. Thatll mean twenty thousand. If I do well build out on Girard Avenue. Thats going to be the street. The college is making that neighborhood.
Thatll be fine, wont it, Frank! she observed, and rubbed his arm as he sat on the side of the bed.
Her remark was vaguely speculative.
Well have to show the Butlers some attention from now on. Hes been very nice to me and hes going to be usefulI can see that. He asked me to bring you over some time. We must go. Be nice to his wife. He can do a lot for me if he wants to. He has two daughters, too. Well have to have them over here.