The Nevada County picayune., 1911-06-09

we Ve promised, JOnn, We Ve promised 10 be good How I wish your dad could have lived to see that girl!
 Well, I'll just hang around here for few days to get this moral tone cinched-Id be afraid to trust myself just yet around Wall street with all this Urban dynamite in my clothes and then I'll sail north under the white flag. I'll wigwag you in to the finish
 It's the most ineXplicabIe thing, NIT Rogers. declared the perpleXed coun- sel of the Urban Traction company to the banker. Here not ten days ago the Tammany people practically as sured me that there would not De the slightest difficulty in getting the Bing ham avenue franchise thr0ugh-at the usual rates of co0rse-and now they re worse than Mke"arm; they seem pos itiyely against the franchise"
 Perhaps it is question of more money" hazarded the banker.
 No, l think not. suggested the possibility of an increased campaign contribution, but il did no good l fear just a bit, there is some scheme under way to take advantage of the thing themselves; perhaps the Suburban peo- pie have learned our plans and are try ing to forestall us?'
 Its not that declared the banker T think you'll find the gang is simply holding us up. as usual. As for the Suburban, I'm more than ever con vinced that We were wise to put eff buying the stock in the market until the franchise Was settled. You'd bet ter keep up the negotiations with the Tammany people while longer be- fore applying openly for the franchise. They'll come around with proposition of some kind, probably"
 But the Urban counsel could make 10 headway with the Tamamny people. They were playing the game as it had been planned out for them by their good friend Joseph W. Barr, whose sterling alities as a plunger at the race meets had endeared him to score of powerful district leaders who frequented the tracks. To them, and particularly to P ! Milligan, who held the below Fourteenth street in the hollow of his itching palm. Barr had outlined course in regard to the fran ehise which satisfied each desire.
 In the meantime, Barr had started his campaign for the control of the Suburban Trolley company. The com pany's capital was twenty million doi- lars. and the stock was selling in the market at ninety dollars d share. on the diyid nGs of four per cent. paid by the road To control the company it was therefore necessary to obtain something over one hundred thousand shares. which at market prices meant cost of over nine million dollars.
 It was no part of Barrs plan to pay any such sum for the stock. Ills care ful investigation of the financial condi- tion of the Suburban convinced him that the stock could be put down to figure where the one hundred thousand shares should cost little more than eight million dollars, and of this amount eighty per cent, or six million four hundred thousand dollars, could be borrowed on the stock purchased. He had promised John that the road should be bought much cheaper than the Urban would have been compelled to pay, and 1t was q matter of profes- sional pride to even exceed this prom | ise.
 fpC,,iriac m tho C,thtIrhantc a f. | fairs had disclosed such decided loss in earnings through competition of a recent extenson of the elevated sys- tenn, that a reduction of the four per cent dividend was inevitable at the ap- preaching dividend meeting of the di- reetors. This. of course. would assist ia putting down the stock 10 seventy l five, where Barr eoolly determined it should go.
 In addition, the little man, whose sources of information were a matter of amazement, had discovered that the president of the Suburban. who was also one of the largest individual stock holders. was the head Of brewer which was teetering on the edge ot i bankruptcy, fact which, in eonneC- ton with brewery startled Barr even more than the unfortunate presi- dents name. which was Sehlimbinger.
 To bolster up his brewery President Sehlimbinger had borrowed money on his forty thousand shares of Suburban stock from two trust companies. He had borrowed to the last cent, and Barr smiled softly al the pleasing pros pect of shaking cut the forty thou sand shares when Suburban tumbled.
 With these facts in his possession, Barr had commissioned various bro kers in his employ 10 pick mp Suburb an stock al. the market, which meant the prevailing price of ninety. He in tended to average down this price later by purchases at lower figures This preliminary move netted him