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To
make
matters
worse
,
the
twenty-year-franchise
limit
was
really
not
at
all
sufficient
for
his
present
needs
.
In
order
to
bring
about
the
consolidation
of
his
North
and
West
surface
lines
,
which
he
was
now
proposing
and
on
the
strength
of
which
he
wished
to
issue
at
least
two
hundred
million
dollars
'
worth
of
one-hundred-dollar-six-per-cent
.
shares
in
place
of
the
seventy
million
dollars
current
of
ten
and
twelve
per
cents.
,
it
was
necessary
for
him
to
secure
a
much
more
respectable
term
of
years
than
the
brief
one
now
permitted
by
the
state
legislature
,
even
providing
that
this
latter
could
be
obtained
.
"
Peeble
are
not
ferry
much
indrested
in
tees
short-time
frangizes
,
"
observed
Mr.
Gotloeb
once
,
when
Cowperwood
was
talking
the
matter
over
with
him
.
He
wanted
Haeckelheimer
&
Co.
to
underwrite
the
whole
issue
.
"
Dey
are
so
insigure
.
Now
if
you
couldt
get
,
say
,
a
frangize
for
fifty
or
one
hunnert
years
or
something
like
dot
your
stocks
wouldt
go
off
like
hot
cakes
.
I
know
where
I
couldt
dispose
of
fifty
million
dollars
off
dem
in
Cermany
alone
.
"
He
was
most
unctuous
and
pleading
.
Отключить рекламу
Cowperwood
understood
this
quite
as
well
as
Gotloeb
,
if
not
better
.
He
was
not
at
all
satisfied
with
the
thought
of
obtaining
a
beggarly
twenty-year
extension
for
his
giant
schemes
when
cities
like
Philadelphia
,
Boston
,
New
York
,
and
Pittsburg
were
apparently
glad
to
grant
their
corporations
franchises
which
would
not
expire
for
ninety-nine
years
at
the
earliest
,
and
in
most
cases
were
given
in
perpetuity
.
This
was
the
kind
of
franchise
favored
by
the
great
moneyed
houses
of
New
York
and
Europe
,
and
which
Gotloeb
,
and
even
Addison
,
locally
,
were
demanding
.
"
It
is
certainly
important
that
we
get
these
franchises
renewed
for
fifty
years
,
"
Addison
used
to
say
to
him
,
and
it
was
seriously
and
disagreeably
true
.
The
various
lights
of
Cowperwood
's
legal
department
,
constantly
on
the
search
for
new
legislative
devices
,
were
not
slow
to
grasp
the
import
of
the
situation
.
It
was
not
long
before
the
resourceful
Mr.
Joel
Avery
appeared
with
a
suggestion
.
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"
Did
you
notice
what
the
state
legislature
of
New
York
is
doing
in
connection
with
the
various
local
transit
problems
down
there
?
"
asked
this
honorable
gentleman
of
Cowperwood
,
one
morning
,
ambling
in
when
announced
and
seating
himself
in
the
great
presence
.
A
half-burned
cigar
was
between
his
fingers
,
and
a
little
round
felt
hat
looked
peculiarly
rakish
above
his
sinister
,
intellectual
,
constructive
face
and
eyes
.
"
No
,
I
did
n't
,
"
replied
Cowperwood
,
who
had
actually
noted
and
pondered
upon
the
item
in
question
,
but
who
did
not
care
to
say
so
.
"
I
saw
something
about
it
,
but
I
did
n't
pay
much
attention
to
it
.
What
of
it
?
"
"
Well
,
it
plans
to
authorize
a
body
of
four
or
five
men
--
one
branch
in
New
York
,
one
in
Buffalo
,
I
presume
--
to
grant
all
new
franchises
and
extend
old
ones
with
the
consent
of
the
various
local
communities
involved
.