that will be built before this
change takes place--will have to be done over on an entirely new basis.
I mean this cable-conduit system. These old companies that are
hobbling along now with an old equipment will have to make the change.
They'll have to spend millions and millions before they can bring their
equipment up to date. If you've paid any attention to the matter you
must have seen what a condition these North and West Side lines are in."

"It's pretty bad; I know that," commented McKenty.

"Just so," replied Cowperwood, emphatically. "Well, now, if I know
anything about these old managements from studying them, they're going
to have a hard time bringing themselves to do this. Two to three
million are two to three million, and it isn't going to be an easy
matter for them to raise the money--not as easy, perhaps, as it would
be for some of the rest of us, supposing we wanted to go into the
street-railway business."

"Yes, supposing," replied McKenty, jovially. "But how are you to get
in it? There's no stock for sale that I know of."

"Just the same," said Cowperwood, "we can if we want to, and I'll show
you how. But at present there's just one thing in particular I'd like
you to do for me. I want to know if there is any way that we can get
control of either of those two old tunnels that I was talking to you
about a little while ago. I'd like both if I might. Do you suppose
that is possible?"

"Why, yes," replied McKenty, wondering; "but what have they got to do
with it? They're not worth anything. Some of the boys were talking
about filling them in some time ago--blowing them up. The police think
crooks hide in them."

"Just the same, don't let any one touch them--don't lease them or
anything," replied Cowperwood, forcefully. "I'll tell you frankly what
I want to do. I want to get control, just as soon as possible, of all
the street-railway lines I can on the North and West Sides--new or old
franchises. Then you'll see where the tunnels come in."

He paused to see whether McKenty caught the point of all he meant, but
the latter failed.

"You don't want much, do you?" he said, cheerfully. "But I don't see
how you can use the tunnels. However, that's no reason why I shouldn't
take care of them for you, if you think that's important."

"It's this way," said Cowperwood, thoughtfully. "I'll make you a
preferred partner in all the ventures that I control if you do as I
suggest. The street-ra