The merger of the New York street railways, which occurred three weeks later, was Gorham’s first chance to demonstrate to the public what the Consolidated Companies could accomplish in handling a great metropolitan transportation problem.  The further he got into it, however, the more serious the problem became, and he had moved slowly to prevent any possible mistake.  But now he was ready to proceed without further delay to complete his previous negotiations to secure the traction franchise for which Collins had bribed the Aldermen, and for a part interest in which Brady had intimidated Collins.  It had been a nauseating piece of work even to Gorham, who had become only too familiar with the particular grade of business “morality” permeating those possessed of opportunity and fortified by responsibility.  Covington was never able to reconcile Gorham’s willingness to do business with men of this stamp, and the apparent personal stand which he took against both their practices and their methods.

“It is all perfectly consistent,” Gorham assured him on more than one occasion.  “It is often necessary to walk through filth and slime in order to reach high ground.  It is a serious fault in our business system that these crimes can be committed, but the Consolidated Companies is not responsible for the system.  To accomplish its own high ends, the Companies must possess itself of certain properties.  These properties are at present in the hands of dishonest stewards, but these same dishonest stewards are legally authorized to sell them.  The Companies buys, therefore, from those who have to sell, and its moral responsibility begins only upon its acquisition.”

The transaction, large as it was, proved not a lengthy one.  The franchise was formally made over to the Consolidated Companies, and the controlling stock in the New York Street Railways Company changed ownership.  Properly certified checks for the franchise and for the stock were duly delivered into Brady’s hands, and the business of the conference seemed to be completely settled to the satisfaction of all concerned.  Still, Mr. Gorham and those who had come with him showed no disposition to depart.

“There ain’t anything more, is there?” asked Brady, eager to terminate the conference, “except to congratulate the Consolidated Companies on acquirin’ a damned valuable property.”

“Only a little more,” Gorham replied, quietly.  “I have asked my friends, Mr. Littleton and Mr. Graham, to be present this morning, as I found that they, like the other and smaller stockholders, had very little knowledge of how their affairs were being handled for them by their directors.  They have received their dividends regularly and promptly and were satisfied.”

“What in hell is this a preamble to?” Brady whispered to Harris.  “My nerves ain’t quiet yet, even with the cash in my jeans.”

But Gorham was still talking in the same low, quiet voice.