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However, if you don't advance him any more we will see. It may be possible, I can't say, but at any rate, no more money must leave the treasury to bolster up this bad business. It's much too difficult as it now is." He stared at Stener warningly.

Stener started this of his own accord in the first place I think I am as much to blame as anybody but it grew out of other things. As you know, I handled that matter of city loan for him and then some of his friends wanted me to invest in street-railways for them. I have been doing that ever since. Personally I have borrowed considerable money from Mr. Stener at two per cent.

A hundred to one he was not. Trust a shrewd man like that to take care of himself. But if there was any way to shoulder the blame on to Cowperwood, and so clear the treasurer and the skirts of the party, he would not object to that. He wanted to hear the full story of Stener's relations with the broker first. Meanwhile, the thing to do was to seize what Stener had to yield.

The moment Butler and Simpson had left him the night before, Mollenhauer had sent for his very able secretary, Abner Sengstack, and despatched him to learn the truth about Stener's whereabouts. Sengstack had then sent a long wire to Strobik, who was with Stener, urging him to caution the latter against Cowperwood. The state of the treasury was known.

Cowperwood had bought and sold nearly three million dollars' worth of these certificates, acting one time as a "bull" and another as a "bear." Stener was now worth all of one hundred and fifty thousand dollars. "There's a line that I know of here in the city which could be made into a splendidly paying property," continued Cowperwood, meditatively, "if the right things could be done with it.

Otherwise he could not very well have worked to the best advantage for Mr. Stener, or for any one else. It would have meant too much bookkeeping for him too much for the city treasurer. Mr. Stener has testified to that in the early part of his story. Albert Stires has indicated that that was his understanding of it. Well, then what? Why, just this.

"Well, it seems that Stener has loaned him as much as five hundred thousand dollars, and if by any chance Cowperwood shouldn't be able to weather this storm, Stener is apt to be short that amount, and that wouldn't look so good as a voting proposition to the people in November, do you think? Cowperwood owes Mr.

Cowperwood fearing the force of such testimony and regretting it, still looked at Stener, pityingly. The feebleness of the man; the weakness of the man; the pass to which his cowardice had brought them both! When Shannon was through bringing out this unsatisfactory data, Steger took Stener in hand; but he could not make as much out of him as he hoped.

Of course, I may hav to add a lot of fictitious selling I'll explain that to you later but I won't charge you anything for that so long as it is a secret between us. I'll give you the best service I can, Mr. Stener. You can depend on that. Let me have a day or two to think it over, though." He shook hands with Stener, and they parted.

He sat down and contemplated his situation. Stener, it suddenly occurred to him, was probably being put through the same process he had just gone through. Poor old Stener! What a fool he had made of himself. But because of his foolishness he deserved all he was now getting. But the difference between himself and Stener was that they would let Stener out.