emingly disinterested party.
Consequently he caused William Johnson, the directing engineer, to
approach Albert Thorsen, one of the most vulnerable of the directors,
declaring he had heard privately that Isaac White, Arnold C. Benjamin,
and Otto Matjes, three other directors and the heaviest owners, had
been offered a very remarkable price for their stock, and that they
were going to sell, leaving the others out in the cold.

Thorsen was beside himself with grief. "When did you hear that?" he
asked.

Johnson told him, but for the time being kept the source of his
information secret. Thorsen at once hurried to his friend, Solon
Kaempfaert, who in turn went to Kaffrath for information.

"I have heard something to that effect," was Kaffrath's only comment,
"but really I do not know."

Thereupon Thorsen and Kaempfaert imagined that Kaffrath was in the
conspiracy to sell out and leave them with no particularly valuable
pickings. It was very sad.

Meanwhile, Cowperwood, on the advice of Kaffrath, was approaching Isaac
White, Arnold C. Benjamin, and Otto Matjes direct--talking with them as
if they were the only three he desired to deal with. A little later
Thorsen and Kaempfaert were visited in the same spirit, and agreed in
secret fear to sell out, or rather lease at the very advantageous terms
Cowperwood offered, providing he could get the others to do likewise.
This gave the latter a strong backing of sentiment on the board.
Finally Isaac White stated at one of the meetings that he had been
approached with an interesting proposition, which he then and there
outlined. He was not sure what to think, he said, but the board might
like to consider it. At once Thorsen and Kaempfaert were convinced that
all Johnson had suggested was true. It was decided to have Cowperwood
come and explain to the full board just what his plan was, and this he
did in a long, bland, smiling talk. It was made plain that the road
would have to be put in shape in the near future, and that this
proposed plan relieved all of them of work, worry, and care. Moreover,
they were guaranteed more interest at once than they had expected to
earn in the next twenty or thirty years. Thereupon it was agreed that
Cowperwood and his plan should be given a trial. Seeing that if he did
not succeed in paying the proposed interest promptly the property once
more became theirs, so they thought, and that he assumed all
obligations--taxes, water rents, old claim