the financier-第8节

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〃No；　not　at　all；　Mr。　Waterman。　　It's　just　that　I　want　to　get　into　the　straight…out　brokerage　business。〃

〃Well；　that　certainly　is　too　bad。　　I'm　sorry。　　I　don't　want　to　urge　you　against　your　own　best　interests。　　You　know　what　you　are　doing。　　But　George　and　I　had　about　agreed　to　offer　you　an　interest　in　this　thing　after　a　bit。　　Now　you're　picking　up　and　leaving。　Why；　damn　it；　man；　there's　good　money　in　this　business。〃

〃I　know　it；〃　smiled　Cowperwood；　〃but　I　don't　like　it。　　I　have　other　plans　in　view。　　I'll　never　be　a　grain　and　commission　man。〃　Mr。　Henry　Waterman　could　scarcely　understand　why　obvious　success　in　this　field　did　not　interest　him。　　He　feared　the　effect　of　his　departure　on　the　business。

And　once　the　change　was　made　Cowperwood　was　convinced　that　this　new　work　was　more　suited　to　him　in　every　wayas　easy　and　more　profitable；　of　course。　　In　the　first　place；　the　firm　of　Tighe　&　Co。；　unlike　that　of　Waterman　&　Co。；　was　located　in　a　handsome　green…gray　stone　building　at　66　South　Third　Street；　in　what　was　then；　and　for　a　number　of　years　afterward；　the　heart　of　the　financial　district。　　Great　institutions　of　national　and　international　import　and　repute　were　near　at　handDrexel　&　Co。；　Edward　Clark　&　Co。；　the　Third　National　Bank；　the　First　National　Bank；　the　Stock　Exchange；　and　similar　institutions。　　Almost　a　score　of　smaller　banks　and　brokerage　firms　were　also　in　the　vicinity。　　Edward　Tighe；　the　head　and　brains　of　this　concern；　was　a　Boston　Irishman；　the　son　of　an　immigrant　who　had　flourished　and　done　well　in　that　conservative　city。　　He　had　come　to　Philadelphia　to　interest　himself　in　the　speculative　life　there。　　〃Sure；　it's　a　right　good　place　for　those　of　us　who　are　awake；〃　he　told　his　friends；　with　a　slight　Irish　accent；　and　he　considered　himself　very　much　awake。　　He　was　a　medium…tall　man；　not　very　stout；　slightly　and　prematurely　gray；　and　with　a　manner　which　was　as　lively　and　good…natured　as　it　was　combative　and　self…reliant。　　His　upper　lip　was　ornamented　by　a　short；　gray　mustache。

〃May　heaven　preserve　me；〃　he　said；　not　long　after　he　came　there；　〃these　Pennsylvanians　never　pay　for　anything　they　can　issue　bonds　for。〃　　It　was　the　period　when　Pennsylvania's　credit；　and　for　that　matter　Philadelphia's；　was　very　bad　in　spite　of　its　great　wealth。　〃If　there's　ever　a　war　there'll　be　battalions　of　Pennsylvanians　marching　around　offering　notes　for　their　meals。　　If　I　could　just　live　long　enough　I　could　get　rich　buyin'　up　Pennsylvania　notes　and　bonds。　　I　think　they'll　pay　some　time；　but；　my　God；　they're　mortal　slow！　I'll　be　dead　before　the　State　government　will　ever　catch　up　on　the　interest　they　owe　me　now。〃

It　was　true。　　The　condition　of　the　finances　of　the　state　and　city　was　most　reprehensible。　　Both　State　and　city　were　rich　enough；　but　there　were　so　many　schemes　for　looting　the　treasury　in　both　instances　that　when　any　new　work　had　to　be　undertaken　bonds　were　necessarily　issued　to　raise　the　money。　　These　bonds；　or　warrants；　as　they　were　called；　pledged　interest　at　six　per　cent。；　but　when　the　interest　fell　due；　instead　of　paying　it；　the　city　or　State　treasurer；　as　the　case　might　be；　stamped　the　same　with　the　date　of　presentation；　and　the　warrant　then　bore　interest　for　not　only　its　original　face　value；　but　the　amount　then　due　in　interest。　　In　other　words；　it　was　being　slowly　compounded。　　But　this　did　not　help　the　man　who　wanted　to　raise　money；　for　as　security　they　could　not　be　hypothecated　for　more　than　seventy　per　cent。　of　their　market　value；　and　they　were　not　selling　at　par；　but　at　ninety。　　A　man　might　buy　or　accept　them　in　foreclosure；　but　he　had　a　long　wait。　　Also；　in　the　final　payment　of　most　of　them　favoritism　ruled；　for　it　was　only　when　the　treasurer　knew　that　certain　warrants　were　in　the　hands　of　〃a　friend〃　that　he　would　advertise　that　such　and　such　warrants　those　particular　ones　that　he　knew　aboutwould　be　paid。

What　was　more；　the　money　system　of　the　United　States　was　only　then　beginning　slowly　to　emerge　from　something　approximating　chaos　to　something　more　nearly　approaching　order。　　The　United　States　Bank；　of　which　Nicholas　Biddle　was　the　progenitor；　had　gone　completely　in　1841；　and　the　United　States　Treasury　with　its　subtreasury　system　had　come　in　1846；　but　still　there　were　many；　many　wildcat　banks；　sufficient　in　number　to　make　the　average　exchange…counter　broker　a　walking　encyclopedia　of　solvent　and　insolvent　institutions。　Still；　things　were　slowly　improving；　for　the　telegraph　had　facilitated　stock…market　quotations；　not　only　between　New　York；　Boston；　and　Philadelphia；　but　between　a　local　broker's　office　in　Philadelphia　and　his　stock　exchange。　　In　other　words；　the　short　private　wire　had　been　introduced。　　Communication　was　quicker　and　freer；　and　daily　grew　better。

Railroads　had　been　built　to　the　South；　East；　North；　and　West。　There　was　as　yet　no　stock…ticker　and　no　telephone；　and　the　clearing…house　had　only　recently　been　thought　of　in　New　York；　and　had　not　yet　been　introduced　in　Philadelphia。　　Instead　of　a　clearing…house　service；　messengers　ran　daily　between　banks　and　brokerage　firms；　balancing　accounts　on　pass…books；　exchanging　bills；　and；　once　a　week；　transferring　the　gold　coin；　which　was　the　only　thing　that　could　be　accepted　for　balances　due；　since　there　was　no　stable　national　currency。　　〃On　'change；〃　when　the　gong　struck　announcing　the　close　of　the　day's　business；　a　company　of　young　men；　known　as　〃settlement　clerks；〃　after　a　system　borrowed　from　London；　gathered　in　the　center　of　the　room　and　compared　or　gathered　the　various　trades　of　the　day　in　a　ring；　thus　eliminating　all　those　sales　and　resales　between　certain　firms　which　naturally　canceled　each　other。　　They　carried　long　account　books；　and　called　out　the　transactions〃Delaware　and　Maryland　sold　to　Beaumont　and　Company；〃　〃Delware　and　Maryland　sold　to　Tighe　and　Company；〃　and　so　on。　　This　simplified　the　bookkeeping　of　the　various　firms；　and　made　for　quicker　and　more　stirring　commercial　transactions。

Seats　〃on　'change〃　sold　for　two　thousand　dollars　each。　　The　members　of　the　exchange　had　just　passed　rules　limiting　the　trading　to　the　hours　between　ten　and　three　（before　this　they　had　been　any　time　between　morning　and　midnight）；　and　had　fixed　the　rates　at　which　brokers　could　do　business；　in　the　face　of　cut…throat　schemes　which　had　previously　held。　　Severe　penalties　were　fixed　for　those　who　failed　to　obey。　　In　other　words；　things　were　shaping　up　for　a　great　'change　business；　and　Edward　Tighe　felt；　with　other　brokers；　that　there　was　a　great　future　ahead。





Chapter　VI




The　Cowperwood　family　was　by　this　time　established　in　its　new　and　larger　and　more　tastefully　furnished　house　on　North　Front　Street；　facing　the　river。　　The　house　was　four　stories　tall　and　stood　twenty…five　feet　on　the　street　front；　without　a　yard。

Here　the　family　began　to　entertain　in　a　small　way；　and　there　came　to　see　them；　now　and　then；　representatives　of　the　various　interests　that　Henry　Cowperwood　had　encountered　in　his　upward　climb　to　the　position　of　cashier。　　It　was　not　a　very　distinguished　company；　but　it　included　a　number　of　people　who　were　about　as　successful　as　himselfheads　of　small　businesses　who　traded　at　his　bank；　dealers　in　dry…goods；　leather；　groceries　（wholesale）；　and　grain。　　The　children　had　come　to　have　intimacies　of　their　own。　　Now　and　then；　because　of　church　connections；　Mrs。　Cowperwood　ventured　to　have　an　afternoon　tea　or　reception；　at　which　even　Cowperwood　attempted　the　gallant　in　so　far　as　to　stand　about　in　a　genially　foolish　way　and　greet　those　whom　his　wife　had　invited。　　And　so　long　as　he　could　maintain　his　gravity　very　solemnly　and　greet　people　without　being　required　to　say　much；　it　was　not　too　painful　for　him。　　Singing　was　indulged　in　at　times；　a　little　dancing　on　occasion；　and　there　was　considerably　more　〃company　to　dinner；〃　informally；　than　there　had　been　previously。

And　here　it　was；　during　the　first　year　of　the　new　life　in　this　house；　that　Frank　met　a　certain　Mrs。　Semple；　who　interested　him　greatly。　　Her　husband　had　a　pretentious　shoe　store　on　Chestnut　Street；　near　Third；　and　was　planning　to　open　a　second　one　farther　out　on　the　same　street。

The　occasion　of　the　meeting　was　an　evening　call　on　the　part　of　the　Semples；　Mr。　Semple　being　desirous　of　talking　with　Henry　Cowperwood　concerning　a　new　transportation　feature　which　was　then　entering　the　worldnamely；　street…cars。　　A　tentative　line；　incorporated　by　the　North　Pennsylvania　Railway　Company；　had　been　put　into　operation　on　a　mile　and　a　half　of　tracks　extending　from　Willow　Street　along　Front　to　Germantown　Road；　and　thence　by　various　streets　to　what　was　then　known　as　the　Cohocksink　Depot；　and　it　was　thought　that　in　time　this　mode　of　locomotion　might　drive　out　the　hundreds　of　omnibuses　which　now　crowded　and　made　impassable　the　downtown　streets。　　Young　Cowperwood　had　been　greatly　interested　from　the　start。　　Railway　transportation；　as　a　whole；　interested　him；　anyway；　but　this　particular　phase　was　most　fascinating。　　It　was　already　creating　widespread　discussion；　and　he；　with　others；　had　gone　to　see　it。　　A　strange　but　interesting　new　type　of　car；　fourteen　feet　long；　seven　feet　wide；　and　nearly　the　same　height；　running　on　small　iron　car…wheels；　was　giving　great　satisfaction　as　being　quieter　and　easier…riding　than　omnibuses