which he was constantly being called upon to represent, Stane was easily converted to Rider’s view that the real lords of the future would be financiers. What the world needed was advanced material equipment, and the financier who devoted himself to supplying that need would be the greatest factor in society’s progression.
It was with such thoughts in his mind that Stane pursued the study of English company law in the office of Rider, Bullock, Johnson & Chance. And one of his chief intimacies was with Elverson Johnson. In Johnson he saw a shrewd commoner with a determination to rise to high places, while in Stane, Johnson recognized an inheritor of social and financial privilege who yet chose to inform and bestir himself in practical pursuits.
Both Johnson and Stane had from the first recognized the enormous possibilities of the London underground traction field, and their interest was by no means confined to the formation of the Traffic Electrical Company, of which, in its origin, they formed the nucleus. When the City and South London, with its up-to-date construction, was first proposed, they and their friends put money into it, with the understanding that a combination of the two old lines then threading the heart of London—the Metropolitan and the District—was to be considered. Like Demosthenes addressing the Athenians, Johnson persisted in his belief that whoever could find the money to pick up enough of the ordinary stock of these two lines to provide a 51 per cent control, could calmly announce himself in charge and thereafter do as he pleased with them.
After his father’s death, Stane and some of his friends, together with Johnson, sought to buy a control of the ordinary stock of the District, hoping in this way to gain control of both roads, but it had all proven too much for them. There was too much stock outstanding, and they could not get together enough money. Therefore, since the management was unprogressive and the stock did not pay well, they had resold a large part of what they had acquired.
And as for the still unconstructed Charing Cross line, to promote which they had formed the Traffic Electrical Company, they had never been able to raise enough money or resell enough of the printed shares to provide the lb1,660,000 needed to build it. At last, through Greaves and Henshaw, they had been seeking to find a financier, or group of financiers, who would either take this Charing Cross line off their hands or unite with them in their dream to take over the Metropolitan and the District.
But so far, nothing had come of this. Johnson by this time was forty-seven and Lord Stane forty, and both had become a little weary and more than slightly dubious of this great task.
Chapter 19
Into this situation, and into the office of Elverson Johnson, enter Mr. Jarkins and Mr. Kloorfain, desiring to confer with Mr. Johnson on a highly important matter. It related to the Messrs. Greaves and Henshaw, who had recently gone to New York, as Mr. Johnson probably knew, to confer with their client, Mr. Frank Cowperwood, whom Mr. Johnson knew, of course.
Mr. Johnson admitted that he had heard of him. And what could he do for these gentlemen?
It was one of London’s best spring mornings. Sunshine poured down on the cobbled Roman pavement below. Johnson, when they entered, had been stirring in a basket of briefs relating to a certain damage suit against the City and South London. And he was in a cheerful mood because the day was warm and bright; there had been a slight rise in the shares of the District; and a very earnest speech which he had delivered the day before to the International Epworth League had been favorably mentioned by not less than two of the morning papers.
“I’ll be as brief as possible,” began Jarkins, who, arrayed in a gray suit, a gray silk shirt, a brilliant blue and white tie, a derby and a cane in his hand, was surveying Johnson with an inquiring eye, and deciding that his task would not be easy. Johnson was plainly a canny individual.
“You must understand, of course, Mr. Johnson,” went on Jarkins, smiling his best smile, “this visit of ours is unauthorized as far as Mr. Cowperwood is concerned. But I believe you will grant the importance of it, just the same. As you know, Greaves and Henshaw have been dealing with Traffic Electrical, for which I believe you act as solicitor.”
“One of the solicitors,” said Mr. Johnson, cautiously. “But it has been some time since I’ve been consulted by them.”
“Quite so, quite so,” returned Jarkins, “but I think you will be interested, nevertheless. You see, ours was the firm that brought Greaves and Henshaw and Mr. Cowperwood together. As you know, Mr. Cowperwood is an extremely wealthy man. He has been active in all kinds of traction matters in America. And he is rumored to be closing out his Chicago holdings for not less than twenty millions.”
At the mention of this sum, Mr. Johnson pricked up his ears. Traffic was traffic—Chicago, London, or elsewhere—and a man who knew enough about it to have extracted twenty million dollars out of it must have some definite knowledge of what he was about. His interest was immediately apparent to Jarkins.
“That may be true,” bluffed Mr. Johnson, a little testily, and seemingly unimpressed, “but just what has that to do with me? You must remember that I am merely one of the solicitors for Traffic Electrical, and have nothing whatsoever to do with either Mr. Greaves or Mr. Henshaw.”
“But you are interested in the London underground situation in general, or so Mr. Kloorfain tells me,” persisted Jarkins. “That is,” he added diplomatically, “you represent people who are interested in the development of the underground system.”
“I ventured to mention the fact, Mr. Johnson,” interpolated Kloorfain here, “that you are referred to from time to time in the newspapers as representing the Metropolitan and the District, as well as the City and South London and the Central of London.”
“That is true,” returned Johnson, seemingly calm and reassured. “I do represent those companies in a legal way. But I’m still not clear as to what you wish. If it relates to the purchase or sale of anything in connection with the Charing Cross and Hampstead line, I am certainly not the person to see.”
“If you will bear with me for just a minute,” persisted Jarkins, leaning closer to Johnson. “The point is just this: that Mr. Cowperwood is divesting himself of all his Chicago street railway holdings, and without those to employ him, he will have nothing to do. He is not the kind of man who would want to quit. He has been working in Chicago, you know, for over twenty-five years. I don’t mean he is running after an investment of any kind. Mr. Greaves and Mr. Henshaw found that out. They were brought to him by our firm: Jarkins, Kloorfain & Randolph. Mr. Kloorfain here is in charge of our London branch.”
Johnson nodded and now listened attentively.
“Of course,” continued Jarkins, “neither Mr. Kloorfain nor myself has the least authority from Mr. Cowperwood to speak for him. But we feel there is something in this London situation which, if put before him by the right person in the right way, might bring about something of great value to whomsoever was connected with it. For I know it to be a fact that Mr. Cowperwood rejected this Charing Cross line, not because he thought it might not pay, but because he was not offered a 51 per cent control, which he always insists on. And then, too, it appeared to him to be just a short branch line which had no important connection with the underground system as a whole, and so could only be operated as a small separate property. He is interested only in the traffic problems of an entire city.”
Jarkins’ voice now took on a note of flattery.
“I asked Mr. Kloorfain,” he said, smoothly, “to take me to the one man who would know most about the London underground situation and grasp the importance of interesting Mr. Cowperwood. For if we understand things correctly,” and here he eyed Mr. Johnson almost ominously, “we feel that the time has come to unify and modernize the entire system, and it is pretty well known that Mr. Cowperwood is a genius in the traction
