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Updated: June 6, 2025
"It means that eventually every mile of street-railway track in this city to say nothing of all the additional miles that will be built before this change takes place will have to be done over on an entirely new basis. I mean this cable-conduit system. These old companies that are hobbling along now with an old equipment will have to make the change.
Not long before he had discovered that one of the chief handicaps to street-railway development, on the North and West Sides, lay in the congestion of traffic at the bridges spanning the Chicago River.
On the other hand, under pressure from the right parties he might be made to surrender all his street-railway holdings for a song his and Stener's. It could be bought, as usual. The defalcation if Cowperwood's failure made Stener's loan into one could be concealed long enough, Mollenhauer thought, to win.
Cowperwood was now most likely in a position where he would have to come and see him, or if not, a good share of the properties he controlled were already in Mollenhauer's possession. If by some hook or crook he could secure the remainder, Simpson and Butler might well talk to him about this street-railway business. His holdings were now as large as any, if not quite the largest.
It should be noted here that this proposition of Stener's in regard to city money had no connection with the attitude of the principal leaders in local politics in regard to street-railway control, which was a new and intriguing phase of the city's financial life. Many of the leading financiers and financier-politicians were interested in that. For instance, Messrs.
His strenuous street-railway operations were more or less familiar to her. "It would be nice," she suggested, "since Mr. Cowperwood is here, if we invited Grace Deming to call." The latter was a favorite of the Colonel's. "I would be very glad if I could talk to Mrs. Carter," gallantly volunteered Cowperwood he scarcely knew why. He was curious to learn more of her history.
Recently in San Francisco, where the presence of hills made the movement of crowded street-railway cars exceedingly difficult, a new type of traction had been introduced that of the cable, which was nothing more than a traveling rope of wire running over guttered wheels in a conduit, and driven by immense engines, conveniently located in adjacent stations or "power-houses."
The glove-makers, cigar-makers, and, in many localities, workers in the building trades and on street-railway systems have the advantage of similar collective agreements. In 1900 the American Newspaper Publishers Association and the International Typographical Union, after many years of stubborn fighting merged their numerous differences in a trade contract to be in effect for one year.
If he's tellin' me the truth and I never knew him to lie he can get out of this if street-railway stocks don't break too heavy in the mornin'. I'm going over to see Henry Mollenhauer and Mark Simpson. They're in on this. Cowperwood wanted me to see if I couldn't get them to get the bankers together and have them stand by the market.
Cowperwood's credit had hitherto been good because it was known that he had a "soft thing" in the Chicago street-railway field, that he paid his interest charges promptly, that he had organized the group of men who now, under him, controlled the Chicago Trust Company and the North and West Chicago Street Railways, and that the Lake City Bank, of which Addison was still president, considered his collateral sound.
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