There was a loan of one hundred thousand dollars from 
the Girard National Bank which he was particularly anx- 
ious to clear off. This bank was the most distinguished 
in the city, and if he retained its friendship by meeting 
this loan promptly he might hope for very many valuable 
favors in the future, whatever happened. Mr. Davison, 
the president of the bank, had been most agreeable to him 
in the past. He had suggested ways and means of raising 
money when Cowperwood had not always been able to 
think of them at the moment. He had recommended 
him to other banks, had called at his house socially, and 
in other ways, by his friendship, had tended to make his 
various deals possible and secure. The loss of the friend- 
ship of Mr. Davison would be most serious. Supposing 
he did fail. Mr. Davison, by his good-will, might help 
him to get on his feet again. It was most necessary to 
meet this loan, because it meant much to him in future 
patronage; and yet, at the moment, Cowperwood did not 
see how he could do it. He decided, however, after some 
reflection that he would deliver the stocks which Judge 
Kitchen, Zimmerman, and others had agreed to take and 
get their checks or cash yet this night. Then he would 
persuade Stener to let him have a check for the sixty 
thousand dollars' worth of city loan he had purchased 
this morning on 'change. Out of it he could take twenty- 
five thousand dollars to make up the balance due Presi- 
dent Davison, and so retain the friendship of the latter 
at least, and still have thirty-five thousand for himself, 
free and clear, which he needed badly. 
The one unfortunate thing about such an arrangement 
was that by it he was building up a rather complicated 
situation in regard to these same certificates. Since 
their purchase in the morning, he had not deposited them 
in the sinking-fund, where they belonged (they had been 
delivered to his office by half past one in the afternoon), 
but, on the contrary, had immediately hypothecated them 
to cover another loan. It was a risky thing to have