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Street-railways at Last

           ofthisstockforninety-nineyearsandwouldguaranteeasatisfactoryrateofinterestonallthestockasitstood,besidesinauguratingaforwardpolicy,whynotletthem?Itwouldbejustasgoodasmortgagingthesouloutoftheoldproperty,andthemanagementwasofnovalue,anyhow.Kaffrathcouldnotseehowfortunesweretobemadeforthesenewinvestorsoutofsubsidiaryconstructionandequipmentcompanies,inwhichCowperwoodwouldbeinterested,howbyissuingwateredstockontheoldandnewlinesthelatterneedscarcelylaydownadollaroncehehadthenecessaryopeningcapital(the"talkingcapital,"ashewasfondofcallingit)guaranteed.CowperwoodandAddisonhadbynowagreed,ifthiswentthrough,toorganizetheChicagoTrustCompanywithmillionsbackofittomanipulatealltheirdeals.Kaffrathonlysawabetterreturnonhisstock,possiblyachancetogetinonthe"groundplan,"asanewphraseexpressedit,ofthenewcompany.

           "That’swhatI’vebeentellingthesefellowsforthepastthreeyears,"hefinallyexclaimedtoAddison,flatteredbythelatter’spersonalattentionandawedbyhisgreatinfluence;"buttheyneverhavebeenwillingtolistentome.ThewaythisNorthSidesystemhasbeenmanagedisacrime.Why,achildcoulddobetterthanwehavedone.They’vesavedontrackandrolling-stock,andlostonpopulation.Peoplearewhatwewantupthere,andthereisonlyonewaythatIknowoftogetthem,andthatistogivethemdecentcarservice.I’lltellyoufranklywe’veneverdoneit.

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