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In
the
large
room
outside
Stener
's
private
office
he
encountered
Albert
Stires
,
Stener
's
chief
clerk
and
secretary
.
He
and
Albert
had
exchanged
many
friendly
greetings
in
times
past
,
and
all
the
little
minor
transactions
in
regard
to
city
loan
had
been
discussed
between
them
,
for
Albert
knew
more
of
the
intricacies
of
finance
and
financial
bookkeeping
than
Stener
would
ever
know
.
At
the
sight
of
Stires
the
thought
in
regard
to
the
sixty
thousand
dollars
'
worth
of
city
loan
certificates
,
previously
referred
to
,
flashed
suddenly
through
his
mind
.
He
had
not
deposited
them
in
the
sinking-fund
,
and
did
not
intend
to
for
the
present
--
could
not
,
unless
considerable
free
money
were
to
reach
him
shortly
--
for
he
had
used
them
to
satisfy
other
pressing
demands
,
and
had
no
free
money
to
buy
them
back
--
or
,
in
other
words
,
release
them
.
And
he
did
not
want
to
just
at
this
moment
.
Under
the
law
governing
transactions
of
this
kind
with
the
city
treasurer
,
he
was
supposed
to
deposit
them
at
once
to
the
credit
of
the
city
,
and
not
to
draw
his
pay
therefor
from
the
city
treasurer
until
he
had
.
To
be
very
exact
,
the
city
treasurer
,
under
the
law
,
was
not
supposed
to
pay
him
for
any
transaction
of
this
kind
until
he
or
his
agents
presented
a
voucher
from
the
bank
or
other
organization
carrying
the
sinking-fund
for
the
city
showing
that
the
certificates
so
purchased
had
actually
been
deposited
there
.
As
a
matter
of
fact
,
under
the
custom
which
had
grown
up
between
him
and
Stener
,
the
law
had
long
been
ignored
in
this
respect
.
He
could
buy
certificates
of
city
loan
for
the
sinking-fund
up
to
any
reasonable
amount
,
hypothecate
them
where
he
pleased
,
and
draw
his
pay
from
the
city
without
presenting
a
voucher
.
At
the
end
of
the
month
sufficient
certificates
of
city
loan
could
usually
be
gathered
from
one
source
and
another
to
make
up
the
deficiency
,
or
the
deficiency
could
actually
be
ignored
,
as
had
been
done
on
more
than
one
occasion
,
for
long
periods
of
time
,
while
he
used
money
secured
by
hypothecating
the
shares
for
speculative
purposes
.
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This
was
actually
illegal
;
but
neither
Cowperwood
nor
Stener
saw
it
in
that
light
or
cared
.
The
trouble
with
this
particular
transaction
was
the
note
that
he
had
received
from
Stener
ordering
him
to
stop
both
buying
and
selling
,
which
put
his
relations
with
the
city
treasury
on
a
very
formal
basis
.
He
had
bought
these
certificates
before
receiving
this
note
,
but
had
not
deposited
them
.
He
was
going
now
to
collect
his
check
;
but
perhaps
the
old
,
easy
system
of
balancing
matters
at
the
end
of
the
month
might
not
be
said
to
obtain
any
longer
.
Stires
might
ask
him
to
present
a
voucher
of
deposit
.
If
so
,
he
could
not
now
get
this
check
for
sixty
thousand
dollars
,
for
he
did
not
have
the
certificates
to
deposit
.
If
not
,
he
might
get
the
money
;
but
,
also
,
it
might
constitute
the
basis
of
some
subsequent
legal
action
.
If
he
did
not
eventually
deposit
the
certificates
before
failure
,
some
charge
such
as
that
of
larceny
might
be
brought
against
him
.
Still
,
he
said
to
himself
,
he
might
not
really
fail
even
yet
.
If
any
of
his
banking
associates
should
,
for
any
reason
,
modify
their
decision
in
regard
to
calling
his
loans
,
he
would
not
.
Would
Stener
make
a
row
about
this
if
he
so
secured
this
check
?
Would
the
city
officials
pay
any
attention
to
him
if
he
did
?
Could
you
get
any
district
attorney
to
take
cognizance
of
such
a
transaction
,
if
Stener
did
complain
?
No
,
not
in
all
likelihood
;
and
,
anyhow
,
nothing
would
come
of
it
.
No
jury
would
punish
him
in
the
face
of
the
understanding
existing
between
him
and
Stener
as
agent
or
broker
and
principal
.
And
,
once
he
had
the
money
,
it
was
a
hundred
to
one
Stener
would
think
no
more
about
it
.
It
would
go
in
among
the
various
unsatisfied
liabilities
,
and
nothing
more
would
be
thought
about
it
.
Like
lightning
the
entire
situation
hashed
through
his
mind
.
He
would
risk
it
.
He
stopped
before
the
chief
clerk
's
desk
.
"
Albert
,
"
he
said
,
in
a
low
voice
,
"
I
bought
sixty
thousand
dollars
'
worth
of
city
loan
for
the
sinking-fund
this
morning
.
Will
you
give
my
boy
a
check
for
it
in
the
morning
,
or
,
better
yet
,
will
you
give
it
to
me
now
?
I
got
your
note
about
no
more
purchases
.
I
'm
going
back
to
the
office
.
You
can
just
credit
the
sinking-fund
with
eight
hundred
certificates
at
from
seventy-five
to
eighty
.
I
'll
send
you
the
itemized
list
later
.
"
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"
Certainly
,
Mr.
Cowperwood
,
certainly
,
"
replied
Albert
,
with
alacrity
.
"
Stocks
are
getting
an
awful
knock
,
are
n't
they
?
I
hope
you
're
not
very
much
troubled
by
it
?
"
"
Not
very
,
Albert
,
"
replied
Cowperwood
,
smiling
,
the
while
the
chief
clerk
was
making
out
his
check
.
He
was
wondering
if
by
any
chance
Stener
would
appear
and
attempt
to
interfere
with
this
.
It
was
a
legal
transaction
.
He
had
a
right
to
the
check
provided
he
deposited
the
certificates
,
as
was
his
custom
,
with
the
trustee
of
the
fund
.
He
waited
tensely
while
Albert
wrote
,
and
finally
,
with
the
check
actually
in
his
hand
,
breathed
a
sigh
of
relief
.
Here
,
at
least
,
was
sixty
thousand
dollars
,
and
to-night
's
work
would
enable
him
to
cash
the
seventy-five
thousand
that
had
been
promised
him
To-morrow
,
once
more
he
must
see
Leigh
,
Kitchen
,
Jay
Cooke
&
Co.
,
Edward
Clark
&
Co.
--
all
the
long
list
of
people
to
whom
he
owed
loans
and
find
out
what
could
be
done
.
If
he
could
only
get
time
!
If
he
could
get
just
a
week
!