THE FINANCIER 
four and five per cent. on the total transaction himself. 
It wasn't much; but since he was doing this all the time, 
and people were friendly to him, more and more so all 
the time, it can be seen how it was that in the first 
year he cleared six thousand dollars over and above 
all expenses. That wasn't much; but he was augment- 
ing it in another way which meant great profit in the 
future. 
This was in the new street-car stocks which were being 
issued, and in which, the future of which, he believed 
firmly. Before the first line, which was a shambling 
affair, had been laid in Front Street, the streets of Phil- 
adelphia had been crowded with hundreds of rough, 
springless omnibuses rattling over rough, hard cobble- 
stones. Now, thanks to the idea of John Stephenson, in 
New York, the double-rail-track idea had come, and be- 
sides the line in Fifth and Sixth streets (the cars running 
out one street and back another), which had paid splen- 
didly from the start, there were many other lines pro- 
posed or under way. The city was as crazy to see 
street-cars replace omnibuses as it was to see railroads 
replace canals. There was opposition, of course. There 
always is. The cry of probable monopoly was raised. 
Disgruntled and defeated omnibus owners and drivers 
groaned aloud. 
Cowperwood, like his father, was one of those who be- 
lieved in the future of the street-railway. The latter was 
timid; but Frank, believing, risked all he could spare on 
new issues of stock shares in new companies. He was 
not one of those who, like the average rank outsider, seize 
unwittingly whatever is thrown them by an inside ring. 
If possible, he wanted to be on the inside himself ; but in 
this matter of the street-railways, having been so young 
when they started, and not having arranged his financial 
connections to any great degree, it was difficult to man- 
age. Still, he knew that they were going to pay, and pay 
largely. The Fifth and Sixth Street line, which had been 
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