the　combined　lines；　could　then　be　so　easily　secured。　　Franchises　and　necessary　extensions　to　existing　franchises　could　be　added。　　This　conversion　of　his　outstanding　stock　in　other　fields；　and　the　picking　up　of　odd　lots　in　the　local　street…railway；　was　the　business　of　Cowperwood。　Butler；　through　his　sons；　Owen　and　Callum；　was　also　busy　planning　a　new　line　and　obtaining　a　franchise；　sacrificing；　of　course；　great　blocks　of　stock　and　actual　cash　to　others；　in　order　to　obtain　sufficient　influence　to　have　the　necessary　legislation　passed。　Yet　it　was　no　easy　matter；　seeing　that　others　knew　what　the　general　advantages　of　the　situation　were；　and　because　of　this　Cowperwood；　who　saw　the　great　source　of　profit　here；　was　able；　betimes；　to　serve　himselfbuying　blocks；　a　part　of　which　only　went　to　Butler；　Mollenhauer　or　others。　　In　short　he　was　not　as　eager　to　serve　Butler；　or　any　one　else；　as　he　was　to　serve　himself　if　he　could。
  In　this　connection；　the　scheme　which　George　W。　Stener　had　brought　forward；　representing　actually　in　the　background　Strobik；　Wycroft；　and　Harmon；　was　an　opening　wedge　for　himself。　　Stener's　plan　was　to　loan　him　money　out　of　the　city　treasury　at　two　per　cent。；　or；　if　he　would　waive　all　commissions；　for　nothing　（an　agent　for　self…protective　purposes　was　absolutely　necessary）；　and　with　it　take　over　the　North　Pennsylvania　Company's　line　on　Front　Street；　which；　because　of　the　shortness　of　its　length；　one　mile　and　a　half；　and　the　brevity　of　the　duration　of　its　franchise；　was　neither　doing　very　well　nor　being　rated　very　high。　　Cowperwood　in　return　for　his　manipulative　skill　was　to　have　a　fair　proportion　of　the　stocktwenty　per　cent。　　Strobik　and　Wycroft　knew　the　parties　from　whom　the　bulk　of　the　stock　could　be　secured　if　engineered　properly。　　Their　plan　was　then；　with　this　borrowed　treasury　money；　to　extend　its　franchise　and　then　the　line　itself；　and　then　later　again；　by　issuing　a　great　block　of　stock　and　hypothecating　it　with　a　favored　bank；　be　able　to　return　the　principal　to　the　city　treasury　and　pocket　their　profits　from　the　line　as　earned。　　There　was　no　trouble　in　this；　in　so　far　as　Cowperwood　was　concerned；　except　that　it　divided　the　stock　very　badly　among　these　various　individuals；　and　left　him　but　a　comparatively　small　sharefor　his　thought　and　pains。
  But　Cowperwood　was　an　opportunist。　　And　by　this　time　his　financial　morality　had　become　special　and　local　in　its　character。　He　did　not　think　it　was　wise　for　any　one　to　steal　anything　from　anybody　where　the　act　of　taking　or　profiting　was　directly　and　plainly　considered　stealing。　　That　was　unwisedangeroushence　wrong。　　There　were　so　many　situations　wherein　what　one　might　do　in　the　way　of　taking　or　profiting　was　open　to　discussion　and　doubt。　Morality　varied；　in　his　mind　at　least；　with　conditions；　if　not　climates。　　Here；　in　Philadelphia；　the　tradition　（politically；　mind　younot　generally）　was　that　the　city　treasurer　might　use　the　money　of　the　city　without　interest　so　long　as　he　returned　the　principal　intact。　　The　city　treasury　and　the　city　treasurer　were　like　a　honey…laden　hive　and　a　queen　bee　around　which　the　dronesthe　politiciansswarmed　in　the　hope　of　profit。　　The　one　disagreeable　thing　in　connection　with　this　transaction　with　Stener　was　that　neither　Butler；　Mollenhauer　nor　Simpson；　who　were　the　actual　superiors　of　Stener　and　Strobik；　knew　anything　about　it。　　Stener　and　those　behind　him　were；　through　him；　acting　for　themselves。　If　the　larger　powers　heard　of　this；　it　might　alienate　them。　　He　had　to　think　of　this。　　Still；　if　he　refused　to　make　advantageous　deals　with　Stener　or　any　other　man　influential　in　local　affairs；　he　was　cutting　off　his　nose　to　spite　his　face；　for　other　bankers　and　brokers　would；　and　gladly。　　And　besides　it　was　not　at　all　certain　that　Butler；　Mollenhauer；　and　Simpson　would　ever　hear。
  In　this　connection；　there　was　another　line；　which　he　rode　on　occasionally；　the　Seventeenth　and　Nineteenth　Street　line；　which　he　felt　was　a　much　more　interesting　thing　for　him　to　think　about；　if　he　could　raise　the　money。　　It　had　been　originally　capitalized　for　five　hundred　thousand　dollars；　but　there　had　been　a　series　of　bonds　to　the　value　of　two　hundred　and　fifty　thousand　dollars　added　for　improvements；　and　the　company　was　finding　great　difficulty　in　meeting　the　interest。　　The　bulk　of　the　stock　was　scattered　about　among　small　investors；　and　it　would　require　all　of　two　hundred　and　fifty　thousand　dollars　to　collect　it　and　have　himself　elected　president　or　chairman　of　the　board　of　directors。　　Once　in；　however；　he　could　vote　this　stock　as　he　pleased；　hypothecating　it　meanwhile　at　his　father's　bank　for　as　much　as　he　could　get；　and　issuing　more　stocks　with　which　to　bribe　legislators　in　the　matter　of　extending　the　line；　and　in　taking　up　other　opportunities　to　either　add　to　it　by　purchase　or　supplement　it　by　working　agreements。　The　word　〃bribe〃　is　used　here　in　this　matter…of…fact　American　way；　because　bribery　was　what　was　in　every　one's　mind　in　connection　with　the　State　legislature。　　Terrence　Relihanthe　small；　dark…faced　Irishman；　a　dandy　in　dress　and　mannerswho　represented　the　financial　interests　at　Harrisburg；　and　who　had　come　to　Cowperwood　after　the　five　million　bond　deal　had　been　printed；　had　told　him　that　nothing　could　be　done　at　the　capital　without　money；　or　its　equivalent；　negotiable　securities。　　Each　significant　legislator；　if　he　yielded　his　vote　or　his　influence；　must　be　looked　after。　　If　he；　Cowperwood；　had　any　scheme　which　he　wanted　handled　at　any　time；　Relihan　had　intimated　to　him　that　he　would　be　glad　to　talk　with　him。　　Cowperwood　had　figured　on　this　Seventeenth　and　Nineteenth　Street　line　scheme　more　than　once；　but　he　had　never　felt　quite　sure　that　he　was　willing　to　undertake　it。　　His　obligations　in　other　directions　were　so　large。　But　the　lure　was　there；　and　he　pondered　and　pondered。
  Stener's　scheme　of　loaning　him　money　wherewith　to　manipulate　the　North　Pennsylvania　line　deal　put　this　Seventeenth　and　Nineteenth　Street　dream　in　a　more　favorable　light。　　As　it　was　he　was　constantly　watching　the　certificates　of　loan　issue；　for　the　city　treasury；　buying　large　quantities　when　the　market　was　falling　to　protect　it　and　selling　heavily；　though　cautiously；　when　he　saw　it　rising　and　to　do　this　he　had　to　have　a　great　deal　of　free　money　to　permit　him　to　do　it。　　He　was　constantly　fearful　of　some　break　in　the　market　which　would　affect　the　value　of　all　his　securities　and　result　in　the　calling　of　his　loans。　　There　was　no　storm　in　sight。　　He　did　not　see　that　anything　could　happen　in　reason；　but　he　did　not　want　to　spread　himself　out　too　thin。　　As　he　saw　it　now；　therefore　if　he　took　one　hundred　and　fifty　thousand　dollars　of　this　city　money　and　went　after　this　Seventeenth　and　Nineteenth　Street　matter　it　would　not　mean　that　he　was　spreading　himself　out　too　thin；　for　because　of　this　new　proposition　could　he　not　call　on　Stener　for　more　as　a　loan　in　connection　with　these　other　ventures？　But　if　anything　should　happenwell
  〃Frank；〃　said　Stener；　strolling　into　his　office　one　afternoon　after　four　o'clock　when　the　main　rush　of　the　day's　work　was　over　the　relationship　between　Cowperwood　and　Stener　had　long　since　reached　the　〃Frank〃　and　〃George〃　period〃Strobik　thinks　he　has　that　North　Pennsylvania　deal　arranged　so　that　we　can　take　it　up　if　we　want　to。　　The　principal　stockholder；　we　find；　is　a　man　by　the　name　of　Coltannot　Ike　Colton；　but　Ferdinand。　　How's　that　for　a　name？〃　Stener　beamed　fatly　and　genially。
  Things　had　changed　considerably　for　him　since　the　days　when　he　had　been　fortuitously　and　almost　indifferently　made　city　treasurer。　His　method　of　dressing　had　so　much　improved　since　he　had　been　inducted　into　office；　and　his　manner　expressed　so　much　more　good　feeling；　confidence；　aplomb；　that　he　would　not　have　recognized　himself　if　he　had　been　permitted　to　see　himself　as　had　those　who　had　known　him　before。　　An　old；　nervous　shifting　of　the　eyes　had　almost　ceased；　and　a　feeling　of　restfulness；　which　had　previously　been　restlessness；　and　had　sprung　from　a　sense　of　necessity；　had　taken　its　place。　　His　large　feet　were　incased　in　good；　square…toed；　soft…leather　shoes；　his　stocky　chest　and　fat　legs　were　made　somewhat　agreeable　to　the　eye　by　a　well…cut　suit　of　brownish…gray　cloth；　and　his　neck　was　now　surrounded　by　a　low；　wing…point　white　collar　and　brown…silk　tie。　　His　ample　chest；　which　spread　out　a　little　lower　in　around　and　constantly　enlarging　stomach；　was　ornamented　by　a　heavy…link　gold　chain；　and　his　white　cuffs　had　large　gold　cuff…buttons　set　with　rubies　of　a　very　notable　size。　　He　was　rosy　and　decidedly　well　fed。　　In　fact；　he　was　doing　very　well　indeed。
  He　had　moved　his　family　from　a　shabby　two…story　frame　house　in　South　Ninth　Street　to　a　very　comfortable　brick　one　three　stories　in　height；　and　three　times　as　large；　on　Spring　Garden　Street。　　His　wife　had　a　few　acquaintancesthe　wives　of　other　politicians。　　His　children　were　attending　the　high　school；　a　thing　he　had　hardly　hoped　for　in　earlier　days。　　He　was　now　the　owner　of　fourteen　or　fifteen　pieces　of　cheap　real　estate　in　different　portions　of　the　city；　which　might　eventually　become　very　valuable；　and　he　was　a　silent　partner　in　the　South　Philadelphia　Foundry　Company　and　the　American　Beef　and　Pork　Company；　two　corporations　on　paper　whose　principal