with a desire for just such favors as Cowperwood
himself had exacted, deliberately setting out to kill the goose that
could lay the golden egg. Men such as Haeckelheimer, Gotloeb, Fishel,
tremendous capitalists in the East and foremost in the directorates of
huge transcontinental lines, international banking-houses, and the
like, were amazed that the newspapers and the anti-Cowperwood element
should have gone so far in Chicago. Had they no respect for capital?
Did they not know that long-time franchises were practically the basis
of all modern capitalistic prosperity? Such theories as were now being
advocated here would spread to other cities unless checked. America
might readily become anti-capitalistic--socialistic. Public ownership
might appear as a workable theory--and then what?

"Those men out there are very foolish," observed Mr. Haeckelheimer at
one time to Mr. Fishel, of Fishel, Stone & Symons. "I can't see that
Mr. Cowperwood is different from any other organizer of his day. He
seems to me perfectly sound and able. All his companies pay. There
are no better investments than the North and West Chicago railways. It
would be advisable, in my judgment, that all the lines out there should
be consolidated and be put in his charge. He would make money for the
stockholders. He seems to know how to run street-railways."

"You know," replied Mr. Fishel, as smug and white as Mr. Haeckelheimer,
and in thorough sympathy with his point of view, "I have been thinking
of something like that myself. All this quarreling should be hushed
up. It's very bad for business--very. Once they get that
public-ownership nonsense started, it will be hard to stop. There has
been too much of it already."

Mr. Fishel was stout and round like Mr. Haeckelheimer, but much
smaller. He was little more than a walking mathematical formula. In
his cranium were financial theorems and syllogisms of the second,
third, and fourth power only.

And now behold a new trend of affairs. Mr. Timothy Arneel, attacked by
pneumonia, dies and leaves his holdings in Chicago City to his eldest
son, Edward Arneel. Mr. Fishel and Mr. Haeckelheimer, through agents
and then direct, approach Mr. Merrill in behalf of Cowperwood. There
is much talk of profits--how much more profitable has been the
Cowperwood regime over street-railway lines than that of Mr. Schryhart.
Mr. Fishel is interested in allaying socialistic excitement. So, by
this time, is Mr.