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More than once during the day he had seen bankers and brokers who were anxious about possible shrinkage in connection with various hypothecated securities, and to-night his valet had called him to the 'phone half a dozen times to talk with Addison, with Kaffrath, with a broker by the name of Prosser who had succeeded Laughlin in active control of his private speculations, and also, be it said, with several of the banks whose presidents were at this particular conference.
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.
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.
"Oh, I don't know," commented Mr. Skinner. "It seems to me we have done pretty well by the North Side. We have done a good deal." Directors Solon Kaempfaert, Albert Thorsen, Isaac White, Anthony Ewer, Arnold C. Benjamin, and Otto Matjes, being solemn gentlemen all, merely sat and stared. The vigorous Kaffrath was not to be so easily repressed, however.
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."
"I have always thought she was rather attractive myself," replied Cowperwood, innocently. Street-railways at Last Among the directors of the North Chicago City company there was one man, Edwin L. Kaffrath, who was young and of a forward-looking temperament.
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.
I'd be very glad if we could put in new rolling-stock, but the item of expense will be considerable. It's these extensions that we have to keep building and the long hauls for five cents which eat up the profits." The so-called "long hauls" were only two or three miles at the outside, but they seemed long to Mr. Skinner. "Well, look at the South Side," persisted Kaffrath.
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 pricked up his ears. What was the city Council going to do? He wanted to know all about it.
"And they can't help you?" "They are carrying all they can stand now." "Too bad. I'm sorry, very. By the way, do you happen, by any chance, to know Mr. Millard Bailey or Mr. Edwin Kaffrath?" "No, I don't," replied Stackpole, hopefully. "Well, now, there are two men who are much richer than is generally supposed. They often have very large sums at their disposal. You might look them up on a chance.
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