e　either　Mr。　　　Cowperwood　or　Mr。　Stener　came　on　the　scene。　　Why；　then；　this　　　great　hue　and　cry　about　it　now？　The　entire　uproar　sprang　solely　　　from　the　fear　of　Mr。　Stener　at　this　juncture；　the　fear　of　the　　　politicians　at　this　juncture；　of　public　exposure。　　No　city　　　treasurer　had　ever　been　exposed　before。　　It　was　a　new　thing　to　　　face　exposure；　to　face　the　risk　of　having　the　public's　attention　　　called　to　a　rather　nefarious　practice　of　which　Mr。　Stener　was　　　taking　advantage；　that　was　all。　　A　great　fire　and　a　panic　were　　　endangering　the　security　and　well…being　of　many　a　financial　　　organization　in　the　cityMr。　Cowperwood's　among　others。　　It　　　meant　many　possible　failures；　and　many　possible　failures　meant　　　one　possible　failure。　　If　Frank　A。　Cowperwood　failed；　he　would　　　fail　owing　the　city　of　Philadelphia　five　hundred　thousand　dollars；　　　borrowed　from　the　city　treasurer　at　the　very　low　rate　of　interest　　　of　two　and　one…half　per　cent。　　Anything　very　detrimental　to　Mr。　　　Cowperwood　in　that？　Had　he　gone　to　the　city　treasurer　and　asked　　　to　be　loaned　money　at　two　and　one…half　per　cent。？　If　he　had；　was　　　there　anything　criminal　in　it　from　a　business　point　of　view？　　　Isn't　a　man　entitled　to　borrow　money　from　any　source　he　can　at　　　the　lowest　possible　rate　of　interest？　Did　Mr。　Stener　have　to　　　loan　it　to　Mr。　Cowperwood　if　he　did　not　want　to？　As　a　matter　of　　　fact　didn't　he　testify　here　to…day　that　he　personally　had　sent　　　for　Mr。　Cowperwood　in　the　first　place？　Why；　then；　in　Heaven's　　　name；　this　excited　charge　of　larceny；　larceny　as　bailee；　　　embezzlement；　embezzlement　on　a　check；　etc。；　etc。？
  〃Once　more；　gentlemen；　listen。　　I'll　tell　you　why。　　The　men　　　who　stood　behind　Stener；　and　whose　bidding　he　was　doing；　wanted　　　to　make　a　political　scapegoat　of　some　oneof　Frank　Algernon　　　Cowperwood；　if　they　couldn't　get　any　one　else。　　That's　why。　　　No　other　reason　under　God's　blue　sky；　not　one。　　Why；　if　Mr。　　　Cowperwood　needed　more　money　just　at　that　time　to　tide　him　　　over；　it　would　have　been　good　policy　for　them　to　have　given　it　　　to　him　and　hushed　this　matter　up。　　It　would　have　been　illegal　　　though　not　any　more　illegal　than　anything　else　that　has　ever　　　been　done　in　this　connectionbut　it　would　have　been　safer。　　　Fear；　gentlemen；　fear；　lack　of　courage；　inability　to　meet　a　　　great　crisis　when　a　great　crisis　appears；　was　all　that　really　　　prevented　them　from　doing　this。　　They　were　afraid　to　place　　　confidence　in　a　man　who　had　never　heretofore　betrayed　their　　　trust　and　from　whose　loyalty　and　great　financial　ability　they　　　and　the　city　had　been　reaping　large　profits。　　The　reigning　city　　　treasurer　of　the　time　didn't　have　the　courage　to　go　on　in　the　　　face　of　fire　and　panic　and　the　rumors　of　possible　failure；　and　　　stick　by　his　illegal　guns；　and　so　he　decided　to　draw　in　his　　　horns　as　testified　here　to…dayto　ask　Mr。　Cowperwood　to　return　　　all　or　at　least　a　big　part　of　the　five　hundred　thousand　dollars　　　he　had　loaned　him；　and　which　Cowperwood　had　been　actually　using　　　for　his；　Stener's　benefit；　and　to　refuse　him　in　addition　the　　　money　that　was　actually　due　him　for　an　authorized　purchase　of　　　city　loan。　　Was　Cowperwood　guilty　as　an　agent　in　any　of　these　　　transactions？　Not　in　the　least。　　Was　there　any　suit　pending　to　　　make　him　return　the　five　hundred　thousand　dollars　of　city　money　　　involved　in　his　present　failure？　Not　at　all。　　It　was　simply　a　　　case　of　wild；　silly　panic　on　the　part　of　George　W。　Stener；　and　　　a　strong　desire　on　the　part　of　the　Republican　party　leaders；　　　once　they　discovered　what　the　situation　was；　to　find　some　one　　　outside　of　Stener；　the　party　treasurer；　upon　whom　they　could　　　blame　the　shortage　in　the　treasury。　　You　heard　what　Mr。　　　Cowperwood　testified　to　here　in　this　case　to…daythat　he　went　　　to　Mr。　Stener　to　forfend　against　any　possible　action　of　this　　　kind　in　the　first　place。　　And　it　was　because　of　this　very　　　warning　that　Mr。　Stener　became　wildly　excited；　lost　his　head；　　　and　wanted　Mr。　Cowperwood　to　return　him　all　his　money；　all　the　　　five　hundred　thousand　dollars　he　had　loaned　him　at　two　and　　　one…half　per　cent。　　Isn't　that　silly　financial　business　at　the　　　best？　Wasn't　that　a　fine　time　to　try　to　call　a　perfectly　legal　　　loan？
  〃But　now　to　return　to　this　particular　check　of　sixty　thousand　　　dollars。　　When　Mr。　Cowperwood　called　that　last　afternoon　before　　　he　failed；　Mr。　Stener　testified　that　he　told　him　that　he　couldn't　　　have　any　more　money；　that　it　was　impossible；　and　that　then　Mr。　　　Cowperwood　went　out　into　his　general　office　and　without　his　　　knowledge　or　consent　persuaded　his　chief　clerk　and　secretary；　　　Mr。　Albert　Stires；　to　give　him　a　check　for　sixty　thousand　dollars；　　　to　which　he　was　not　entitled　and　on　which　he；　Stener；　would　　　have　stopped　payment　if　he　had　known。
  〃What　nonsense！　Why　didn't　he　know？　The　books　were　there；　open　　　to　him。　　Mr。　Stires　told　him　the　first　thing　the　next　morning。　　　Mr。　Cowperwood　thought　nothing　of　it；　for　he　was　entitled　to　it；　　　and　could　collect　it　in　any　court　of　law　having　jurisdiction　in　　　such　cases；　failure　or　no　failure。　　It　is　silly　for　Mr。　Stener　　　to　say　he　would　have　stopped　payment。　　Such　a　claim　was　probably　　　an　after…thought　of　the　next　morning　after　he　had　talked　with　his　　　friends；　the　politicians；　and　was　all　a　part；　a　trick；　a　trap；　　　to　provide　the　Republican　party　with　a　scapegoat　at　this　time。　　　Nothing　more　and　nothing　less；　and　you　may　be　sure　no　one　knew　　　it　better　than　the　people　who　were　most　anxious　to　see　Mr。　　　Cowperwood　convicted。〃
  Steger　paused　and　looked　significantly　at　Shannon。
  〃Gentlemen　of　the　jury　＇he　finally　concluded；　quietly　and　　　earnestly＇；　you　are　going　to　find；　when　you　think　it　over　in　　　the　jury…room　this　evening；　that　this　charge　of　larceny　and　　　larceny　as　bailee；　and　embezzlement　of　a　check　for　sixty　　　thousand　dollars；　which　are　contained　in　this　indictment；　and　　　which　represent　nothing　more　than　the　eager　effort　of　the　　　district　attorney　to　word　this　one　act　in　such　a　way　that　it　　　will　look　like　a　crime；　represents　nothing　more　than　the　excited　　　imagination　of　a　lot　of　political　refugees　who　are　anxious　to　　　protect　their　own　skirts　at　the　expense　of　Mr。　Cowperwood；　and　　　who　care　for　nothinghonor；　fair　play；　or　anything　else；　so　　　long　as　they　are　let　off　scot…free。　　They　don't　want　the　　　Republicans　of　Pennsylvania　to　think　too　ill　of　the　Republican　　　party　management　and　control　in　this　city。　　They　want　to　protect　　　George　W。　Stener　as　much　as　possible　and　to　make　a　political　　　scapegoat　of　my　client。　　It　can't　be　done；　and　it　won't　be　done。　　　As　honorable；　intelligent　men　you　won't　permit　it　to　be　done。　　　And　I　think　with　that　thought　I　can　safely　leave　you。〃
  Steger　suddenly　turned　from　the　jury…box　and　walked　to　his　seat　beside　Cowperwood；　while　Shannon　arose；　calm；　forceful；　vigorous；　much　younger。
  As　between　man　and　man；　Shannon　was　not　particularly　opposed　to　the　case　Steger　had　made　out　for　Cowperwood；　nor　was　he　opposed　to　Cowperwood's　having　made　money　as　he　did。　　As　a　matter　of　fact；　Shannon　actually　thought　that　if　he　had　been　in　Cowperwood's　position　he　would　have　done　exactly　the　same　thing。　　However；　he　was　the　newly　elected　district　attorney。　　He　had　a　record　to　make；　and；　besides；　the　political　powers　who　were　above　him　were　satisfied　that　Cowperwood　ought　to　be　convicted　for　the　looks　of　the　thing。　Therefore　he　laid　his　hands　firmly　on　the　rail　at　first；　looked　the　jurors　steadily　in　the　eyes　for　a　time；　and；　having　framed　a　few　thoughts　in　his　mind　began：
  〃Now；　gentlemen　of　the　jury；　it　seems　to　me　that　if　we　all　pay　　　strict　attention　to　what　has　transpired　here　to…day；　we　will　　　have　no　difficulty　in　reaching　a　conclusion；　and　it　will　be　a　　　very　satisfactory　one；　if　we　all　try　to　interpret　the　facts　　　correctly。　　This　defendant；　Mr。　Cowperwood；　comes　into　this　　　court　to…day　charged；　as　I　have　stated　to　you　before；　with　　　larceny；　with　larceny　as　bailee；　with　embezzlement；　and　with　　　embezzlement　of　a　specific　checknamely；　one　dated　October　9；　　　1871；　drawn　to　the　order　of　Frank　A。　Cowperwood　&　Company　for　　　the　sum　of　sixty　thousand　dollars　by　the　secretary　of　the　city　　　treasurer　for　the　city　treasurer；　and　by　him　signed；　as　he　had　　　a　perfect　right　to　sign　it；　and　delivered　to　the　said　Frank　A。　　　Cowperwood；　who　claims　that　he　was　not　only　properly　solvent　　　at　the　time；　but　had　previously　purchased　certificates　of　city　　　loan　to　the　value　of　sixty　thousand　dollars；　and　had　at　that　　　time　or　would　shortly　thereafter；　as　was　his　custom；　deposit　　　them　to　the　credit　of　the　city　in　the　city　sinking…fund；　and　　　thus　close　what　would　ordinarily　be　an　ordinary　transaction　　　namely；　that　of　Frank　A。　Cowperwood　&　Company　as　bankers　and　　　brokers　for　the　city　buying　city　loan　for　the　city；　depositing　　　it　in　the　sinking…fund；　and　being　promptly　and　properly　reimbursed。　　　Now；　gentlemen；　what　are　the　actual　facts　in　this　case？　Was　the　　　said　Frank　A。　Cowperwood　&　Companythere　is　no　company；　as　　　you　well　know；　as　you　have　heard　testified　here　to…day；　only　　　Frank　A。　Cowperwoodwas　the　said　Frank　A。　Cowperwood　a　fit　　　person　to　receive　the　check　at　this　time　in　the　manner　he　　　received　itthat　is；　was　he　authorized　agent　of　the　city　at　　　the　time；　or　was　he　not？　Was　he　solvent？　Did　he