not included. And yet his soul yearned to be of them. He noticed
how often a rich man's word sufficed--no money, no certificates, no
collateral, no anything--just his word. If Drexel & Co., or Jay Cooke &
Co., or Gould & Fiske were rumored to be behind anything, how secure
it was! Jay Cooke, a young man in Philadelphia, had made a great strike
taking this State loan in company with Drexel & Co., and selling it at
par. The general opinion was that it ought to be and could only be sold
at ninety. Cooke did not believe this. He believed that State pride
and State patriotism would warrant offering the loan to small banks
and private citizens, and that they would subscribe it fully and more.
Events justified Cooke magnificently, and his public reputation was
assured. Cowperwood wished he could make some such strike; but he was
too practical to worry over anything save the facts and conditions that
were before him.

His chance came about six months later, when it was found that the State
would have to have much more money. Its quota of troops would have to
be equipped and paid. There were measures of defense to be taken, the
treasury to be replenished. A call for a loan of twenty-three million
dollars was finally authorized by the legislature and issued. There was
great talk in the street as to who was to handle it--Drexel & Co. and
Jay Cooke & Co., of course.

Cowperwood pondered over this. If he could handle a fraction of this
great loan now--he could not possibly handle the whole of it, for he
had not the necessary connections--he could add considerably to his
reputation as a broker while making a tidy sum. How much could he
handle? That was the question. Who would take portions of it? His
father's bank? Probably. Waterman & Co.? A little. Judge Kitchen? A
small fraction. The Mills-David Company? Yes. He thought of different