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Alexander　Rambaud；　who　was　an　admirer　and　follower　of　Cowperwood's；　wondered　whether　the　papers　were　lying；　whether　it　really　could　be　true　that　Cowperwood　had　a　serious　political　compact　with　McKenty　which　would　allow　him　to　walk　rough…shod　over　public　opinion。　　Rambaud　considered　Cowperwood's　proposition　so　sane　and　reasonable　that　he　could　not　understand　why　there　should　be　serious　opposition；　or　why　Cowperwood　and　McKenty　should　have　to　resort　to　such　methods。

However；　the　streets　requisite　for　the　loop　were　granted。　　The　tunnel　was　leased　for　nine　hundred　and　ninety…nine　years　at　the　nominal　sum　of　five　thousand　dollars　per　year。　　It　was　understood　that　the　old　bridges　over　State；　Dearborn；　and　Clark　streets　should　be　put　in　repair　or　removed；　but　there　was　〃a　joker〃　inserted　elsewhere　which　nullified　this。　　Instantly　there　were　stormy　outbursts　in　the　Chronicle；　Inquirer；　and　Globe；　but　Cowperwood；　when　he　read　them；　merely　smiled。　　〃Let　them　grumble；〃　he　said　to　himself。　　〃I　put　a　very　reasonable　proposition　before　them。　　Why　should　they　complain？　I'm　doing　more　now　than　the　Chicago　City　Railway。　　It's　jealousy；　that's　all。　　If　Schryhart　or　Merrill　had　asked　for　it；　there　would　have　been　no　complaint。　　　　McKenty　called　at　the　offices　of　the　Chicago　Trust　Company　to　congratulate　Cowperwood。　　〃The　boys　did　as　I　thought　they　would；〃　he　said。　　〃I　had　to　be　there；　though；　for　I　heard　some　one　say　that　about　ten　of　them　intended　to　ditch　us　at　the　last　moment。〃

〃Good　work；　good　work！〃　replied　Cowperwood；　cheerfully。　　〃This　row　will　all　blow　over。　　It　would　be　the　same　whenever　we　asked。　　The　air　will　clear　up。　　We'll　give　them　such　a　fine　service　that　they'll　forget　all　about　this；　and　be　glad　they　gave　us　the　tunnel。〃

Just　the　same；　the　morning　after　the　enabling　ordinances　had　passed；　there　was　much　derogatory　comment　in　influential　quarters。　　Mr。　Norman　Schryhart；　who；　through　his　publisher；　had　been　fulminating　defensively　against　Cowperwood；　stared　solemnly　at　Mr。　Ricketts　when　they　met。

〃Well；〃　said　the　magnate；　who　imagined　he　foresaw　a　threatened　attack　on　his　Chicago　City　Street　Railway　preserves；　〃I　see　our　friend　Mr。　Cowperwood　has　managed　to　get　his　own　way　with　the　council。　　I　am　morally　certain　he　uses　money　to　get　what　he　is　after　as　freely　as　a　fireman　uses　water。　　He's　as　slippery　as　an　eel。　　I　should　be　glad　if　we　could　establish　that　there　is　a　community　of　interest　between　him　and　these　politicians　around　City　Hall；　or　between　him　and　Mr。　McKenty。　　I　believe　he　has　set　out　to　dominate　this　city　politically　as　well　as　financially；　and　he'll　need　constant　watching。　　If　public　opinion　can　be　aroused　against　him　he　may　be　dislodged　in　the　course　of　time。　　Chicago　may　get　too　uncomfortable　for　him。　　I　know　Mr。　McKenty　personally；　but　he　is　not　the　kind　of　man　I　care　to　do　business　with。〃

Mr。　Schryhart's　method　of　negotiating　at　City　Hall　was　through　certain　reputable　but　somewhat　slow…going　lawyers　who　were　in　the　employ　of　the　South　Side　company。　　They　had　never　been　able　to　reach　Mr。　McKenty　at　all。　　Ricketts　echoed　a　hearty　approval。　　〃You're　very　right；〃　he　said；　with　owlish　smugness；　adjusting　a　waistcoat　button　that　had　come　loose；　and　smoothing　his　cuffs。　　〃He's　a　prince　of　politicians。　　We'll　have　to　look　sharp　if　we　ever　trap　him〃　Mr。　Ricketts　would　have　been　glad　to　sell　out　to　Mr。　Cowperwood；　if　he　had　not　been　so　heavily　obligated　to　Mr。　Schryhart。　He　had　no　especial　affection　for　Cowperwood；　but　he　recognized　in　him　a　coming　man。

Young　MacDonald；　talking　to　Clifford　Du　Bois　in　the　office　of　the　Inquirer；　and　reflecting　how　little　his　private　telephone　message　had　availed　him；　was　in　a　waspish；　ironic　frame　of　mind。

〃Well；〃　he　said；　〃it　seems　our　friend　Cowperwood　hasn't　taken　our　advice。　　He　may　make　his　mark；　but　the　Inquirer　isn't　through　with　him　by　a　long　shot。　　He'll　be　wanting　other　things　from　the　city　in　the　future。〃

Clifford　Du　Bois　regarded　his　acid　young　superior　with　a　curious　eye。　　He　knew　nothing　of　MacDonald's　private　telephone　message　to　Cowperwood；　but　he　knew　how　he　himself　would　have　dealt　with　the　crafty　financier　had　he　been　in　MacDonald's　position。

〃Yes；　Cowperwood　is　shrewd；〃　was　his　comment。　　〃Pritchard；　our　political　man；　says　the　ways　of　the　City　Hall　are　greased　straight　up　to　the　mayor　and　McKenty；　and　that　Cowperwood　can　have　anything　he　wants　at　any　time。　　Tom　Dowling　eats　out　of　his　hand；　and　you　know　what　that　means。　　Old　General　Van　Sickle　is　working　for　him　in　some　way。　　Did　you　ever　see　that　old　buzzard　flying　around　if　there　wasn't　something　dead　in　the　woods？〃

〃He's　a　slick　one；〃　remarked　MacDonald。　　〃But　as　for　Cowperwood；　he　can't　get　away　with　this　sort　of　thing　very　long。　　He's　going　too　fast。　　He　wants　too　much。〃

Mr。　Du　Bois　smiled　quite　secretly。　　It　amused　him　to　see　how　Cowperwood　had　brushed　MacDonald　and　his　objections　asidedispensed　for　the　time　being　with　the　services　of　the　Inquirer。　　Du　Bois　confidently　believed　that　if　the　old　General　had　been　at　home　he　would　have　supported　the　financier。

Within　eight　months　after　seizing　the　La　Salle　Street　tunnel　and　gobbling　four　of　the　principal　down…town　streets　for　his　loop；　Cowperwood　turned　his　eyes　toward　the　completion　of　the　second　part　of　the　programmethat　of　taking　over　the　Washington　Street　tunnel　and　the　Chicago　West　Division　Company；　which　was　still　drifting　along　under　its　old　horse…car　regime。　　It　was　the　story　of　the　North　Side　company　all　over　again。　　Stockholders　of　a　certain　typethe　averageare　extremely　nervous；　sensitive；　fearsome。　They　are　like　that　peculiar　bivalve；　the　clam；　which　at　the　slightest　sense　of　untoward　pressure　withdraws　into　its　shell　and　ceases　all　activity。　　The　city　tax　department　began　by　instituting　proceedings　against　the　West　Division　company；　compelling　them　to　disgorge　various　unpaid　street…car　taxes　which　had　hitherto　been　conveniently　neglected。　　The　city　highway　department　was　constantly　jumping　on　them　for　neglect　of　street　repairs。　　The　city　water　department；　by　some　hocus…pocus；　made　it　its　business　to　discover　that　they　had　been　stealing　water。　　On　the　other　hand　were　the　smiling　representatives　of　Cowperwood；　Kaifrath；　Addison；　Videra；　and　others；　approaching　one　director　or　stockholder　after　another　with　glistening　accounts　of　what　a　splendid　day　would　set　in　for　the　Chicago　West　Division　Company　if　only　it　would　lease　fifty…one　per　cent。　of　its　holdingsfifty…one　per　cent。　of　twelve　hundred　and　fifty　shares；　par　value　two　hundred　dollarsfor　the　fascinating　sum　of　six　hundred　dollars　per　share；　and　thirty　per　cent。　interest　on　all　stock　not　assumed。

Who　could　resist？　Starve　and　beat　a　dog　on　the　one　hand；　wheedle；　pet；　and　hold　meat　in　front　of　it　on　the　other；　and　it　can　soon　be　brought　to　perform。　　Cowperwood　knew　this。　　His　emissaries　for　good　and　evil　were　tireless。　　In　the　endand　it　was　not　long　in　comingthe　directors　and　chief　stockholders　of　the　Chicago　West　Division　Company　succumbed；　and　then；　ho！　the　sudden　leasing　by　the　Chicago　West　Division　Company　of　all　its　propertyto　the　North　Chicago　Street　Railway　Company；　lessee　in　turn　of　the　Chicago　City　Passenger　Railway；　a　line　which　Cowperwood　had　organized　to　take　over　the　Washington　Street　tunnel。　　How　had　he　accomplished　it？　The　question　was　on　the　tip　of　every　financial　tongue。　　Who　were　the　men　or　the　organization　providing　the　enormous　sums　necessary　to　pay　six　hundred　dollars　per　share　for　six　hundred　and　fifty　shares　of　the　twelve　hundred　and　fifty　belonging　to　the　old　West　Division　company；　and　thirty　per　cent。　per　year　on　all　the　remainder？　Where　was　the　money　coming　from　to　cable　all　these　lines？　It　was　simple　enough　if　they　had　only　thought。　　Cowperwood　was　merely　capitalizing　the　future。

Before　the　newspapers　or　the　public　could　suitably　protest；　crowds　of　men　were　at　work　day　and　night　in　the　business　heart　of　the　city；　their　flaring　torches　and　resounding　hammers　making　a　fitful　bedlamic　world　of　that　region；　they　were　laying　the　first　great　cable　loop　and　repairing　the　La　Salle　Street　tunnel。　　It　was　the　same　on　the　North　and　West　Sides；　where　concrete　conduits　were　being　laid；　new　grip　and　trailer　cars　built；　new　car…barns　erected；　and　large；　shining　power…houses　put　up。　　The　city；　so　long　used　to　the　old　bridge　delays；　the　straw…strewn；　stoveless　horse…cars　on　their　jumping　rails；　was　agog　to　see　how　fine　this　new　service　would　be。　　The　La　Salle　Street　tunnel　was　soon　aglow　with　white　plaster　and　electric　lights。　　The　long　streets　and　avenues　of　the　North　Side　were　threaded　with　concrete…lined　conduits　and　heavy　street…rails。　　The　powerhouses　were　completed　and　the　system　was　started；　even　while　the　contracts　for　the　changes　on　the　West　Side　were　being　let。

Schryhart　and　his　associates　were　amazed　at　this　swiftness　of　action；　this　dizzy　phantasmagoria　of　financial　operations。　　It　looked　very　much　to　the　conservative　traction　interests　of　Chicago　as　if　this　young　giant　out　of　the　East　had　it　in　mind　to　eat　up　the　whole　city。　　The　Chicago　Trust　Company；　which　he；　Addison；　McKenty；　and　others　had　organized　to　manipulate　the　principal　phases　of　the　local　bond　issues；　and　of　which　he　was　rumored　to　be　in　control；　was　in　a　flourishing　condition。　　Apparen