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Wanted — Fifty-year Franchises

           Theroadwasvaluedatoveronehundredthousanddollarsmorepermilethanthesumforwhichitcouldactuallyhavebeenreplaced.Pitythepoorgrovelinghackatthebottomwhohasnotthebrain-powereithertounderstandortocontrolthatwhichhisverypresenceandnecessitiescreate.

           Thesetremendousholdings,payingfromtentotwelvepercent.oneveryhundred-dollarshare,wereinthecontrol,ifnotintheactualownership,ofCowperwood.Millionsinloansthatdidnotappearonthebooksofthecompanieshehadconvertedintoactualcash,wherewithhehadboughthouses,lands,equipages,paintings,governmentbondsofthepurestgoldvalue,therebyassuringhimselftothatextentofafortunevaultedandlocked,absolutelysecure.Aftermuchtoilingandmoilingonthepartofhisoverworkedlegaldepartmenthehadsecuredaconsolidation,underthetitleoftheConsolidatedTractionCompanyofIllinois,ofalloutlyinglines,eachhavingseparatefranchisesandcapitalizedseparately,yetoperatedbyanamazinghocus-pocusofcontractsandagreementsinsingle,harmoniousunionwithallhisotherproperties.TheNorthandWestChicagocompanieshenowproposedtouniteintoathirdcompanytobecalledtheUnionTractionCompany.Bytakingupthetenandtwelvepercent.

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