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- Теодор Драйзер
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- Стр. 284/332
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In
1886
,
when
he
had
first
secured
a
foothold
,
they
had
been
capitalized
at
between
six
and
seven
millions
(
every
device
for
issuing
a
dollar
on
real
property
having
been
exhausted
)
.
To-day
,
under
his
management
,
they
were
capitalized
at
between
sixty
and
seventy
millions
.
The
majority
of
the
stock
issued
and
sold
was
subject
to
a
financial
device
whereby
twenty
per
cent
.
controlled
eighty
per
cent.
,
Cowperwood
holding
that
twenty
per
cent
.
and
borrowing
money
on
it
as
hypothecated
collateral
.
In
the
case
of
the
West
Side
corporation
,
a
corporate
issue
of
over
thirty
millions
had
been
made
,
and
these
stocks
,
owing
to
the
tremendous
carrying
power
of
the
roads
and
the
swelling
traffic
night
and
morning
of
poor
sheep
who
paid
their
hard-earned
nickels
,
had
a
market
value
which
gave
the
road
an
assured
physical
value
of
about
three
times
the
sum
for
which
it
could
have
been
built
.
The
North
Chicago
company
,
which
in
1886
had
a
physical
value
of
little
more
than
a
million
,
could
not
now
be
duplicated
for
less
than
seven
millions
,
and
was
capitalized
at
nearly
fifteen
millions
.
The
road
was
valued
at
over
one
hundred
thousand
dollars
more
per
mile
than
the
sum
for
which
it
could
actually
have
been
replaced
.
Pity
the
poor
groveling
hack
at
the
bottom
who
has
not
the
brain-power
either
to
understand
or
to
control
that
which
his
very
presence
and
necessities
create
.
These
tremendous
holdings
,
paying
from
ten
to
twelve
per
cent
.
on
every
hundred-dollar
share
,
were
in
the
control
,
if
not
in
the
actual
ownership
,
of
Cowperwood
.
Millions
in
loans
that
did
not
appear
on
the
books
of
the
companies
he
had
converted
into
actual
cash
,
wherewith
he
had
bought
houses
,
lands
,
equipages
,
paintings
,
government
bonds
of
the
purest
gold
value
,
thereby
assuring
himself
to
that
extent
of
a
fortune
vaulted
and
locked
,
absolutely
secure
.
After
much
toiling
and
moiling
on
the
part
of
his
overworked
legal
department
he
had
secured
a
consolidation
,
under
the
title
of
the
Consolidated
Traction
Company
of
Illinois
,
of
all
outlying
lines
,
each
having
separate
franchises
and
capitalized
separately
,
yet
operated
by
an
amazing
hocus-pocus
of
contracts
and
agreements
in
single
,
harmonious
union
with
all
his
other
properties
.
The
North
and
West
Chicago
companies
he
now
proposed
to
unite
into
a
third
company
to
be
called
the
Union
Traction
Company
.
By
taking
up
the
ten
and
twelve
per
cent
.
issues
of
the
old
North
and
West
companies
and
giving
two
for
one
of
the
new
six-per-cent
one-hundred-dollar-share
Union
Traction
stocks
in
their
stead
,
he
could
satisfy
the
current
stockholders
,
who
were
apparently
made
somewhat
better
off
thereby
,
and
still
create
and
leave
for
himself
a
handsome
margin
of
nearly
eighty
million
dollars
.
With
a
renewal
of
his
franchises
for
twenty
,
fifty
,
or
one
hundred
years
he
would
have
fastened
on
the
city
of
Chicago
the
burden
of
yielding
interest
on
this
somewhat
fictitious
value
and
would
leave
himself
personally
worth
in
the
neighborhood
of
one
hundred
millions
.
This
matter
of
extending
his
franchises
was
a
most
difficult
and
intricate
business
,
however
.
It
involved
overcoming
or
outwitting
a
recent
and
very
treacherous
increase
of
local
sentiment
against
him
.
This
had
been
occasioned
by
various
details
which
related
to
his
elevated
roads
.
To
the
two
lines
already
built
he
now
added
a
third
property
,
the
Union
Loop
.
This
he
prepared
to
connect
not
only
with
his
own
,
but
with
other
outside
elevated
properties
,
chief
among
which
was
Mr.
Schryhart
's
South
Side
"
L.
"
He
would
then
farm
out
to
his
enemies
the
privilege
of
running
trains
on
this
new
line
.
However
unwillingly
,
they
would
be
forced
to
avail
themselves
of
the
proffered
opportunity
,
because
within
the
region
covered
by
the
new
loop
was
the
true
congestion
--
here
every
one
desired
to
come
either
once
or
twice
during
the
day
or
night
.
By
this
means
Cowperwood
would
secure
to
his
property
a
paying
interest
from
the
start
.
This
scheme
aroused
a
really
unprecedented
antagonism
in
the
breasts
of
Cowperwood
's
enemies
.
By
the
Arneel
--
Hand-Schryhart
contingent
it
was
looked
upon
as
nothing
short
of
diabolical
.
The
newspapers
,
directed
by
such
men
as
Haguenin
,
Hyssop
,
Ormonde
Ricketts
,
and
Truman
Leslie
MacDonald
(
whose
father
was
now
dead
,
and
whose
thoughts
as
editor
of
the
Inquirer
were
almost
solely
directed
toward
driving
Cowperwood
out
of
Chicago
)
,
began
to
shout
,
as
a
last
resort
,
in
the
interests
of
democracy
.
Seats
for
everybody
(
on
Cowperwood
's
lines
)
,
no
more
straps
in
the
rush
hours
,
three-cent
fares
for
workingmen
,
morning
and
evening
,
free
transfers
from
all
of
Cowperwood
's
lines
north
to
west
and
west
to
north
,
twenty
per
cent
.
of
the
gross
income
of
his
lines
to
be
paid
to
the
city
.
The
masses
should
be
made
cognizant
of
their
individual
rights
and
privileges
.
Such
a
course
,
while
decidedly
inimical
to
Cowperwood
's
interests
at
the
present
time
,
and
as
such
strongly
favored
by
the
majority
of
his
opponents
,
had
nevertheless
its
disturbing
elements
to
an
ultra-conservative
like
Hosmer
Hand
.
"
I
do
n't
know
about
this
,
Norman
,
"
he
remarked
to
Schryhart
,
on
one
occasion
.
"
I
do
n't
know
about
this
.
It
's
one
thing
to
stir
up
the
public
,
but
it
's
another
to
make
them
forget
.
This
is
a
restless
,
socialistic
country
,
and
Chicago
is
the
very
hotbed
and
center
of
it
.
Still
,
if
it
will
serve
to
trip
him
up
I
suppose
it
will
do
for
the
present
.
The
newspapers
can
probably
smooth
it
all
over
later
.
But
I
do
n't
know
.
"
Mr.
Hand
was
of
that
order
of
mind
that
sees
socialism
as
a
horrible
importation
of
monarchy-ridden
Europe
.
Why
could
n't
the
people
be
satisfied
to
allow
the
strong
,
intelligent
,
God-fearing
men
of
the
community
to
arrange
things
for
them
?
Was
n't
that
what
democracy
meant
?
Certainly
it
was
--
he
himself
was
one
of
the
strong
.
He
could
not
help
distrusting
all
this
radical
palaver
.
Still
,
anything
to
hurt
Cowperwood
--
anything
.
Cowperwood
was
not
slow
to
realize
that
public
sentiment
was
now
in
danger
of
being
thoroughly
crystallized
against
him
by
newspaper
agitation
.
Although
his
franchises
would
not
expire
--
the
large
majority
of
them
--
before
January
1
,
1903
,
yet
if
things
went
on
at
this
rate
it
would
be
doubtful
soon
whether
ever
again
he
would
be
able
to
win
another
election
by
methods
legitimate
or
illegitimate
.
Hungry
aldermen
and
councilmen
might
be
venal
and
greedy
enough
to
do
anything
he
should
ask
,
provided
he
was
willing
to
pay
enough
,
but
even
the
thickest-hided
,
the
most
voracious
and
corrupt
politician
could
scarcely
withstand
the
searching
glare
of
publicity
and
the
infuriated
rage
of
a
possibly
aroused
public
opinion
.
By
degrees
this
last
,
owing
to
the
untiring
efforts
of
the
newspapers
,
was
being
whipped
into
a
wild
foam
.
To
come
into
council
at
this
time
and
ask
for
a
twenty-year
extension
of
franchises
not
destined
to
expire
for
seven
years
was
too
much
.
It
could
not
be
done
.
Even
suborned
councilmen
would
be
unwilling
to
undertake
it
just
now
.
There
are
some
things
which
even
politically
are
impossible
.
