This corporation he would capitalize at so much, and issue
stocks and bonds for its construction, equipment, and manipulation.
Having done this he would then take the sub-corporation over into the
parent concern, issuing more stocks and bonds of the parent company
wherewith to do it, and, of course, selling these bonds to the
public. Even his brothers who worked for him did not know the various
ramifications of his numerous deals, and executed his orders blindly.
Sometimes Joseph said to Edward, in a puzzled way, "Well, Frank knows
what he is about, I guess."
On the other hand, he was most careful to see that every current
obligation was instantly met, and even anticipated, for he wanted to
make a great show of regularity. Nothing was so precious as reputation
and standing. His forethought, caution, and promptness pleased the
bankers. They thought he was one of the sanest, shrewdest men they had
ever met.
However, by the spring and summer of 1871, Cowperwood had actually,
without being in any conceivable danger from any source, spread
himself out very thin. Because of his great success he had grown more
liberal--easier--in his financial ventures.
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