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"It looks to me," said Schryhart, one day, to his friend Arneel, "as if our friend has gotten in a little too deep. He has overreached himself. These elevated-road schemes of his have eaten up too much capital. There is another election coming on next fall, and he knows we are going to fight tooth and nail. He needs money to electrify his surface lines.
At the time that Cowperwood first entered on elevated-road construction there was no evidence that any severe depression in the American money-market was imminent. But it was not long before a new difficulty began to appear. It was now the day of the trust in all its watery magnificence.
"Whaddye think of those damn four-flushers and come-ons, anyhow?" inquired Mr. Kerrigan of Mr. Tiernan, shortly subsequent to a conference with Gilgan, from which Tiernan had been unavoidably absent. "They've got an ordinance drawn up covering the whole city in an elevated-road scheme, and there ain't anything in it for anybody. Say, whaddye think they think we are, anyhow? Hey?" Mr.
Cowperwood, awaiting the assembling of the new city council one month after election, did not propose to wait in peace and quiet until the enemy should strike at him unprepared. Calling those familiar agents, his corporation attorneys, around him, he was shortly informed of the new elevated-road idea, and it gave him a real shock. Obviously Hand and Schryhart were now in deadly earnest.
Its very competition tended to weaken the value of his surface-line companies. His holdings in these as well as in elevated-road shares were immense. If anything happened to cause them to fall in price immense numbers of these same stocks held by others would be thrown on the market, thus still further depreciating their value and compelling him to come into the market and buy.
I will put these letters in my safe, and there they will stay until the next campaign is over, when I will take them out and destroy them. I have no personal feeling against you none in the world. I do not ask you to sign any ordinance which the council may pass giving me elevated-road rights.
Simultaneously the thought suddenly dawned upon the Schryhart faction that it would be an excellent stroke of business if the New York elevated-road idea were now introduced into the city not so much with the purpose of making money immediately, but in order to bring the hated magnate to an understanding that he had a formidable rival which might invade the territory that he now monopolized, curtailing his and thus making it advisable for him to close out his holdings and depart.
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