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nge£»¡¡and¡¡that¡¡would¡¡close¡¡to¡¡him¡¡the¡¡most¡¡distinguished¡¡avenue¡¡of¡¡his¡¡prosperity¡¡here¡¡in¡¡Philadelphia¡¡for¡¡some¡¡time£»¡¡if¡¡not¡¡forever¡£¡¡¡¡At¡¡present£»¡¡because¡¡of¡¡his¡¡complications£»¡¡his¡¡seat¡¡had¡¡been¡¡attached¡¡as¡¡an¡¡asset£»¡¡and¡¡he¡¡could¡¡not¡¡act¡£¡¡¡¡Edward¡¡and¡¡Joseph£»¡¡almost¡¡the¡¡only¡¡employees¡¡he¡¡could¡¡afford£»¡¡were¡¡still¡¡acting¡¡for¡¡him¡¡in¡¡a¡¡small¡¡way£»¡¡but¡¡the¡¡other¡¡members¡¡on¡¡'change¡¡naturally¡¡suspected¡¡his¡¡brothers¡¡as¡¡his¡¡agents£»¡¡and¡¡any¡¡talk¡¡that¡¡they¡¡might¡¡raise¡¡of¡¡going¡¡into¡¡business¡¡for¡¡themselves¡¡merely¡¡indicated¡¡to¡¡other¡¡brokers¡¡and¡¡bankers¡¡that¡¡Cowperwood¡¡was¡¡contemplating¡¡some¡¡concealed¡¡move¡¡which¡¡would¡¡not¡¡necessarily¡¡be¡¡advantageous¡¡to¡¡his¡¡creditors£»¡¡and¡¡against¡¡the¡¡law¡¡anyhow¡£¡¡¡¡Yet¡¡he¡¡must¡¡remain¡¡on¡¡'change£»¡¡whatever¡¡happened£»¡¡potentially¡¡if¡¡not¡¡actively£»¡¡and¡¡so¡¡in¡¡his¡¡quick¡¡mental¡¡searchings¡¡he¡¡hit¡¡upon¡¡the¡¡idea¡¡that¡¡in¡¡order¡¡to¡¡forfend¡¡against¡¡the¡¡event¡¡of¡¡his¡¡being¡¡put¡¡into¡¡prison¡¡or¡¡thrown¡¡into¡¡bankruptcy£»¡¡or¡¡both£»¡¡he¡¡ought¡¡to¡¡form¡¡a¡¡subsidiary¡¡silent¡¡partnership¡¡with¡¡some¡¡man¡¡who¡¡was¡¡or¡¡would¡¡be¡¡well¡¡liked¡¡on¡¡'change£»¡¡and¡¡whom¡¡he¡¡could¡¡use¡¡as¡¡a¡¡cat's¡­paw¡¡and¡¡a¡¡dummy¡£

Finally¡¡he¡¡hit¡¡upon¡¡a¡¡man¡¡who¡¡he¡¡thought¡¡would¡¡do¡£¡¡¡¡He¡¡did¡¡not¡¡amount¡¡to¡¡muchhad¡¡a¡¡small¡¡business£»¡¡but¡¡he¡¡was¡¡honest£»¡¡and¡¡he¡¡liked¡¡Cowperwood¡£¡¡¡¡His¡¡name¡¡was¡¡WingateStephen¡¡Wingateand¡¡he¡¡was¡¡eking¡¡out¡¡a¡¡not¡¡too¡¡robust¡¡existence¡¡in¡¡South¡¡Third¡¡Street¡¡as¡¡a¡¡broker¡£¡¡¡¡He¡¡was¡¡forty¡­five¡¡years¡¡of¡¡age£»¡¡of¡¡medium¡¡height£»¡¡fairly¡¡thick¡­set£»¡¡not¡¡at¡¡all¡¡unprepossessing£»¡¡and¡¡rather¡¡intelligent¡¡and¡¡active£»¡¡but¡¡not¡¡too¡¡forceful¡¡and¡¡pushing¡¡in¡¡spirit¡£¡¡¡¡He¡¡really¡¡needed¡¡a¡¡man¡¡like¡¡Cowperwood¡¡to¡¡make¡¡him¡¡into¡¡something£»¡¡if¡¡ever¡¡he¡¡was¡¡to¡¡be¡¡made¡£¡¡¡¡He¡¡had¡¡a¡¡seat¡¡on¡¡'change£»¡¡and¡¡was¡¡well¡¡thought¡¡of£»¡¡respected£»¡¡but¡¡not¡¡so¡¡very¡¡prosperous¡£¡¡¡¡In¡¡times¡¡past¡¡he¡¡had¡¡asked¡¡small¡¡favors¡¡of¡¡Cowperwoodthe¡¡use¡¡of¡¡small¡¡loans¡¡at¡¡a¡¡moderate¡¡rate¡¡of¡¡interest£»¡¡tips£»¡¡and¡¡so¡¡forth£»¡¡and¡¡Cowperwood£»¡¡because¡¡he¡¡liked¡¡him¡¡and¡¡felt¡¡a¡¡little¡¡sorry¡¡for¡¡him£»¡¡had¡¡granted¡¡them¡£¡¡¡¡Now¡¡Wingate¡¡was¡¡slowly¡¡drifting¡¡down¡¡toward¡¡a¡¡none¡¡too¡¡successful¡¡old¡¡age£»¡¡and¡¡was¡¡as¡¡tractable¡¡as¡¡such¡¡a¡¡man¡¡would¡¡naturally¡¡be¡£¡¡¡¡No¡¡one¡¡for¡¡the¡¡time¡¡being¡¡would¡¡suspect¡¡him¡¡of¡¡being¡¡a¡¡hireling¡¡of¡¡Cowperwood's£»¡¡and¡¡the¡¡latter¡¡could¡¡depend¡¡on¡¡him¡¡to¡¡execute¡¡his¡¡orders¡¡to¡¡the¡¡letter¡£¡¡¡¡He¡¡sent¡¡for¡¡him¡¡and¡¡had¡¡a¡¡long¡¡conversation¡¡with¡¡him¡£¡¡¡¡He¡¡told¡¡him¡¡just¡¡what¡¡the¡¡situation¡¡was£»¡¡what¡¡he¡¡thought¡¡he¡¡could¡¡do¡¡for¡¡him¡¡as¡¡a¡¡partner£»¡¡how¡¡much¡¡of¡¡his¡¡business¡¡he¡¡would¡¡want¡¡for¡¡himself£»¡¡and¡¡so¡¡on£»¡¡and¡¡found¡¡him¡¡agreeable¡£

¡¨I'll¡¡be¡¡glad¡¡to¡¡do¡¡anything¡¡you¡¡say£»¡¡Mr¡£¡¡Cowperwood£»¡¨¡¡he¡¡assured¡¡the¡¡latter¡£¡¡¡¡¡¨I¡¡know¡¡whatever¡¡happens¡¡that¡¡you'll¡¡protect¡¡me£»¡¡and¡¡there's¡¡nobody¡¡in¡¡the¡¡world¡¡I¡¡would¡¡rather¡¡work¡¡with¡¡or¡¡have¡¡greater¡¡respect¡¡for¡£¡¡¡¡This¡¡storm¡¡will¡¡all¡¡blow¡¡over£»¡¡and¡¡you'll¡¡be¡¡all¡¡right¡£¡¡We¡¡can¡¡try¡¡it£»¡¡anyhow¡£¡¡¡¡If¡¡it¡¡don't¡¡work¡¡out¡¡you¡¡can¡¡see¡¡what¡¡you¡¡want¡¡to¡¡do¡¡about¡¡it¡¡later¡£¡¨

And¡¡so¡¡this¡¡relationship¡¡was¡¡tentatively¡¡entered¡¡into¡¡and¡¡Cowperwood¡¡began¡¡to¡¡act¡¡in¡¡a¡¡small¡¡way¡¡through¡¡Wingate¡£





Chapter¡¡XLVIII




By¡¡the¡¡time¡¡the¡¡State¡¡Supreme¡¡Court¡¡came¡¡to¡¡pass¡¡upon¡¡Cowperwood's¡¡plea¡¡for¡¡a¡¡reversal¡¡of¡¡the¡¡lower¡¡court¡¡and¡¡the¡¡granting¡¡of¡¡a¡¡new¡¡trial£»¡¡the¡¡rumor¡¡of¡¡his¡¡connection¡¡with¡¡Aileen¡¡had¡¡spread¡¡far¡¡and¡¡wide¡£¡¡¡¡As¡¡has¡¡been¡¡seen£»¡¡it¡¡had¡¡done¡¡and¡¡was¡¡still¡¡doing¡¡him¡¡much¡¡damage¡£¡¡¡¡It¡¡confirmed¡¡the¡¡impression£»¡¡which¡¡the¡¡politicians¡¡had¡¡originally¡¡tried¡¡to¡¡create£»¡¡that¡¡Cowperwood¡¡was¡¡the¡¡true¡¡criminal¡¡and¡¡Stener¡¡the¡¡victim¡£¡¡¡¡His¡¡semi¡­legitimate¡¡financial¡¡subtlety£»¡¡backed¡¡indeed¡¡by¡¡his¡¡financial¡¡genius£»¡¡but¡¡certainly¡¡on¡¡this¡¡account¡¡not¡¡worse¡¡than¡¡that¡¡being¡¡practiced¡¡in¡¡peace¡¡and¡¡quiet¡¡and¡¡with¡¡much¡¡applause¡¡in¡¡many¡¡other¡¡quarterswas¡¡now¡¡seen¡¡to¡¡be¡¡Machiavellian¡¡trickery¡¡of¡¡the¡¡most¡¡dangerous¡¡type¡£¡¡¡¡He¡¡had¡¡a¡¡wife¡¡and¡¡two¡¡children£»¡¡and¡¡without¡¡knowing¡¡what¡¡his¡¡real¡¡thoughts¡¡had¡¡been¡¡the¡¡fruitfully¡¡imaginative¡¡public¡¡jumped¡¡to¡¡the¡¡conclusion¡¡that¡¡he¡¡had¡¡been¡¡on¡¡the¡¡verge¡¡of¡¡deserting¡¡them£»¡¡divorcing¡¡Lillian£»¡¡and¡¡marrying¡¡Aileen¡£¡¡¡¡This¡¡was¡¡criminal¡¡enough¡¡in¡¡itself£»¡¡from¡¡the¡¡conservative¡¡point¡¡of¡¡view£»¡¡but¡¡when¡¡taken¡¡in¡¡connection¡¡with¡¡his¡¡financial¡¡record£»¡¡his¡¡trial£»¡¡conviction£»¡¡and¡¡general¡¡bankruptcy¡¡situation£»¡¡the¡¡public¡¡was¡¡inclined¡¡to¡¡believe¡¡that¡¡he¡¡was¡¡all¡¡the¡¡politicians¡¡said¡¡he¡¡was¡£¡¡¡¡He¡¡ought¡¡to¡¡be¡¡convicted¡£¡¡¡¡The¡¡Supreme¡¡Court¡¡ought¡¡not¡¡to¡¡grant¡¡his¡¡prayer¡¡for¡¡a¡¡new¡¡trial¡£¡¡¡¡It¡¡is¡¡thus¡¡that¡¡our¡¡inmost¡¡thoughts¡¡and¡¡intentions¡¡burst¡¡at¡¡times¡¡via¡¡no¡¡known¡¡material¡¡agency¡¡into¡¡public¡¡thoughts¡£¡¡¡¡People¡¡know£»¡¡when¡¡they¡¡cannot¡¡apparently¡¡possibly¡¡know¡¡why¡¡they¡¡know¡£¡¡¡¡There¡¡is¡¡such¡¡a¡¡thing¡¡as¡¡thought¡­transference¡¡and¡¡transcendentalism¡¡of¡¡ideas¡£

It¡¡reached£»¡¡for¡¡one¡¡thing£»¡¡the¡¡ears¡¡of¡¡the¡¡five¡¡judges¡¡of¡¡the¡¡State¡¡Supreme¡¡Court¡¡and¡¡of¡¡the¡¡Governor¡¡of¡¡the¡¡State¡£

During¡¡the¡¡four¡¡weeks¡¡Cowperwood¡¡had¡¡been¡¡free¡¡on¡¡a¡¡certificate¡¡of¡¡reasonable¡¡doubt¡¡both¡¡Harper¡¡Steger¡¡and¡¡Dennis¡¡Shannon¡¡appeared¡¡before¡¡the¡¡judges¡¡of¡¡the¡¡State¡¡Supreme¡¡Court£»¡¡and¡¡argued¡¡pro¡¡and¡¡con¡¡as¡¡to¡¡the¡¡reasonableness¡¡of¡¡granting¡¡a¡¡new¡¡trial¡£¡¡¡¡Through¡¡his¡¡lawyer£»¡¡Cowperwood¡¡made¡¡a¡¡learned¡¡appeal¡¡to¡¡the¡¡Supreme¡¡Court¡¡judges£»¡¡showing¡¡how¡¡he¡¡had¡¡been¡¡unfairly¡¡indicted¡¡in¡¡the¡¡first¡¡place£»¡¡how¡¡there¡¡was¡¡no¡¡real¡¡substantial¡¡evidence¡¡on¡¡which¡¡to¡¡base¡¡a¡¡charge¡¡of¡¡larceny¡¡or¡¡anything¡¡else¡£¡¡¡¡It¡¡took¡¡Steger¡¡two¡¡hours¡¡and¡¡ten¡¡minutes¡¡to¡¡make¡¡his¡¡argument£»¡¡and¡¡District¡­Attorney¡¡Shannon¡¡longer¡¡to¡¡make¡¡his¡¡reply£»¡¡during¡¡which¡¡the¡¡five¡¡judges¡¡on¡¡the¡¡bench£»¡¡men¡¡of¡¡considerable¡¡legal¡¡experience¡¡but¡¡no¡¡great¡¡financial¡¡understanding£»¡¡listened¡¡with¡¡rapt¡¡attention¡£¡¡¡¡Three¡¡of¡¡them£»¡¡Judges¡¡Smithson£»¡¡Rainey£»¡¡and¡¡Beckwith£»¡¡men¡¡most¡¡amenable¡¡to¡¡the¡¡political¡¡feeling¡¡of¡¡the¡¡time¡¡and¡¡the¡¡wishes¡¡of¡¡the¡¡bosses£»¡¡were¡¡little¡¡interested¡¡in¡¡this¡¡story¡¡of¡¡Cowperwood's¡¡transaction£»¡¡particularly¡¡since¡¡his¡¡relations¡¡with¡¡Butler's¡¡daughter¡¡and¡¡Butler's¡¡consequent¡¡opposition¡¡to¡¡him¡¡had¡¡come¡¡to¡¡them¡£¡¡¡¡They¡¡fancied¡¡that¡¡in¡¡a¡¡way¡¡they¡¡were¡¡considering¡¡the¡¡whole¡¡matter¡¡fairly¡¡and¡¡impartially£»¡¡but¡¡the¡¡manner¡¡in¡¡which¡¡Cowperwood¡¡had¡¡treated¡¡Butler¡¡was¡¡never¡¡out¡¡of¡¡their¡¡minds¡£¡¡¡¡Two¡¡of¡¡them£»¡¡Judges¡¡Marvin¡¡and¡¡Rafalsky£»¡¡who¡¡were¡¡men¡¡of¡¡larger¡¡sympathies¡¡and¡¡understanding£»¡¡but¡¡of¡¡no¡¡greater¡¡political¡¡freedom£»¡¡did¡¡feel¡¡that¡¡Cowperwood¡¡had¡¡been¡¡badly¡¡used¡¡thus¡¡far£»¡¡but¡¡they¡¡did¡¡not¡¡see¡¡what¡¡they¡¡could¡¡do¡¡about¡¡it¡£¡¡¡¡He¡¡had¡¡put¡¡himself¡¡in¡¡a¡¡most¡¡unsatisfactory¡¡position£»¡¡politically¡¡and¡¡socially¡£¡¡¡¡They¡¡understood¡¡and¡¡took¡¡into¡¡consideration¡¡his¡¡great¡¡financial¡¡and¡¡social¡¡losses¡¡which¡¡Steger¡¡described¡¡accurately£»¡¡and¡¡one¡¡of¡¡them£»¡¡Judge¡¡Rafalsky£»¡¡because¡¡of¡¡a¡¡similar¡¡event¡¡in¡¡his¡¡own¡¡life¡¡in¡¡so¡¡far¡¡as¡¡a¡¡girl¡¡was¡¡concerned£»¡¡was¡¡inclined¡¡to¡¡argue¡¡strongly¡¡against¡¡the¡¡conviction¡¡of¡¡Cowperwood£»¡¡but£»¡¡owing¡¡to¡¡his¡¡political¡¡connections¡¡and¡¡obligations£»¡¡he¡¡realized¡¡that¡¡it¡¡would¡¡not¡¡be¡¡wise¡¡politically¡¡to¡¡stand¡¡out¡¡against¡¡what¡¡was¡¡wanted¡£¡¡Still£»¡¡when¡¡he¡¡and¡¡Marvin¡¡learned¡¡that¡¡Judges¡¡Smithson£»¡¡Rainey£»¡¡and¡¡Beckwith¡¡were¡¡inclined¡¡to¡¡convict¡¡Cowperwood¡¡without¡¡much¡¡argument£»¡¡they¡¡decided¡¡to¡¡hand¡¡down¡¡a¡¡dissenting¡¡opinion¡£¡¡¡¡The¡¡point¡¡involved¡¡was¡¡a¡¡very¡¡knotty¡¡one¡£¡¡¡¡Cowperwood¡¡might¡¡carry¡¡it¡¡to¡¡the¡¡Supreme¡¡Court¡¡of¡¡the¡¡United¡¡States¡¡on¡¡some¡¡fundamental¡¡principle¡¡of¡¡liberty¡¡of¡¡action¡£¡¡¡¡Anyhow£»¡¡other¡¡judges¡¡in¡¡other¡¡courts¡¡in¡¡Pennsylvania¡¡and¡¡elsewhere¡¡would¡¡be¡¡inclined¡¡to¡¡examine¡¡the¡¡decision¡¡in¡¡this¡¡case£»¡¡it¡¡was¡¡so¡¡important¡£¡¡¡¡The¡¡minority¡¡decided¡¡that¡¡it¡¡would¡¡not¡¡do¡¡them¡¡any¡¡harm¡¡to¡¡hand¡¡down¡¡a¡¡dissenting¡¡opinion¡£¡¡¡¡The¡¡politicians¡¡would¡¡not¡¡mind¡¡as¡¡long¡¡as¡¡Cowperwood¡¡was¡¡convictedwould¡¡like¡¡it¡¡better£»¡¡in¡¡fact¡£¡¡¡¡It¡¡looked¡¡fairer¡£¡¡¡¡Besides£»¡¡Marvin¡¡and¡¡Rafalsky¡¡did¡¡not¡¡care¡¡to¡¡be¡¡included£»¡¡if¡¡they¡¡could¡¡help¡¡it£»¡¡with¡¡Smithson£»¡¡Rainey£»¡¡and¡¡Beckwith¡¡in¡¡a¡¡sweeping¡¡condemnation¡¡of¡¡Cowperwood¡£¡¡So¡¡all¡¡five¡¡judges¡¡fancied¡¡they¡¡were¡¡considering¡¡the¡¡whole¡¡matter¡¡rather¡¡fairly¡¡and¡¡impartially£»¡¡as¡¡men¡¡will¡¡under¡¡such¡¡circumstances¡£¡¡Smithson£»¡¡speaking¡¡for¡¡himself¡¡and¡¡Judges¡¡Rainey¡¡and¡¡Beckwith¡¡on¡¡the¡¡eleventh¡¡of¡¡February£»¡¡1872£»¡¡said£º

¡¡¡¡¡¨The¡¡defendant£»¡¡Frank¡¡A¡£¡¡Cowperwood£»¡¡asks¡¡that¡¡the¡¡finding¡¡of¡¡¡¡¡¡the¡¡jury¡¡in¡¡the¡¡lower¡¡court¡¡£¨the¡¡State¡¡of¡¡Pennsylvania¡¡vs¡£¡¡Frank¡¡¡¡¡¡A¡£¡¡Cowperwood£©¡¡be¡¡reversed¡¡and¡¡a¡¡new¡¡trial¡¡granted¡£¡¡¡¡This¡¡court¡¡¡¡¡¡cannot¡¡see¡¡that¡¡any¡¡substantial¡¡injustice¡¡has¡¡been¡¡done¡¡the¡¡¡¡¡¡defendant¡£¡¡¡¡£§Here¡¡followed¡¡a¡¡rather¡¡lengthy¡¡resume¡¡of¡¡the¡¡history¡¡¡¡¡¡of¡¡the¡¡case£»¡¡in¡¡which¡¡it¡¡was¡¡pointed¡¡out¡¡that¡¡the¡¡custom¡¡and¡¡¡¡¡¡precedent¡¡of¡¡the¡¡treasurer's¡¡office£»¡¡to¡¡say¡¡nothing¡¡of¡¡¡¡¡¡Cowperwood's¡¡easy¡¡method¡¡of¡¡doing¡¡business¡¡with¡¡the¡¡city¡¡¡¡¡¡treasury£»¡¡could¡¡have¡¡nothing¡¡to¡¡do¡¡with¡¡his¡¡responsibility¡¡for¡¡¡¡¡¡failure¡¡to¡¡observe¡¡both¡¡the¡¡spirit¡¡and¡¡the¡¡letter¡¡of¡¡the¡¡law¡££§¡¡¡¡¡¡The¡¡obtaining¡¡of¡¡goods¡¡under¡¡color¡¡of¡¡legal¡¡process¡¡£§went¡¡on¡¡¡¡¡¡Judge¡¡Smithson£»¡¡speaking¡¡for¡¡the¡¡majority£§¡¡may¡¡amount¡¡to¡¡¡¡¡¡larceny¡£¡¡¡¡In¡¡the¡¡present¡¡case¡¡it¡¡was¡¡the¡¡province¡¡of¡¡the¡¡jury¡¡¡¡¡¡to¡¡ascertain¡¡the¡¡felonious¡¡intent¡£¡¡¡¡They¡¡have¡¡settled¡¡that¡¡¡¡¡¡against¡¡the¡¡defendant¡¡as¡¡a¡¡question¡¡of¡¡fact£»¡¡and¡¡the¡¡court¡¡¡¡¡¡cannot¡¡say¡¡that¡¡there¡¡was¡¡not¡¡sufficient¡¡evidence¡¡to¡¡sustain¡¡¡¡¡¡the¡¡verdict¡£¡¡¡¡For¡¡what¡¡purpose¡¡did¡¡the¡¡defendant¡¡get¡¡the¡¡check£¿¡¡¡¡¡¡He¡¡was¡¡upon¡¡the¡¡eve¡¡of¡¡failure¡£¡¡¡¡¡¡He¡¡had¡¡already¡¡hypothecated¡¡¡¡¡¡for¡¡his¡¡own¡¡debts¡¡the¡¡loan¡¡of¡¡the¡¡city¡¡placed¡¡in¡¡his¡¡hands¡¡for¡¡¡¡¡¡salehe¡¡had¡¡unlawfully¡¡obtained¡¡five¡¡hundred¡¡thousand¡¡dollars¡¡¡¡¡¡in¡¡cash¡¡as¡¡loans£»¡¡and¡¡it¡¡is¡¡reasonable¡¡to¡¡suppose¡¡that¡¡he¡¡¡¡¡¡could¡¡obtain¡¡nothing¡¡more¡¡from¡¡the¡¡city¡¡treasury¡¡by¡¡any¡¡¡¡¡¡ordinary¡¡means¡£¡¡¡¡Then¡¡it¡¡is¡¡that¡¡he¡¡goes¡¡there£»¡¡and£»¡¡by¡¡means¡¡¡¡¡¡of¡¡a¡¡falsehood¡¡implied¡¡if¡¡not¡¡actual£»¡¡obtains¡¡sixty¡¡thousand¡¡¡¡¡¡dollars¡¡more¡£¡¡¡¡The¡¡jury¡¡has¡¡found¡¡the¡¡intent¡¡with¡¡which¡¡this¡¡¡¡¡¡was¡¡done¡£¡¨

It¡¡was¡¡in¡¡these¡¡words¡¡that¡¡Cowperwood's¡¡appeal¡¡for¡¡a¡¡new¡¡trial¡¡was¡¡denied¡¡by¡¡the¡¡majority¡£

For¡¡himself¡¡and¡¡Judge¡¡Rafalsky£»¡¡Judge¡¡Marvin£»¡¡dissenting£»¡¡wrote£º

¡¡¡¡¡¨It¡¡is¡¡plain¡¡from¡¡the¡¡evidence¡¡in¡¡the¡¡case¡¡that¡¡Mr¡£¡¡Cowperwood¡¡¡¡¡¡did¡¡not¡¡receive¡¡the¡¡check¡¡without¡¡authority¡¡as¡¡agent¡¡to¡¡do¡¡so£»¡¡¡¡¡¡and¡¡it¡¡has¡¡not¡¡been¡¡clearly¡¡demonstrated¡¡that¡¡within¡¡his¡¡¡¡¡¡capacity¡¡as¡¡agent¡¡he¡¡did¡¡not¡¡perform¡¡or¡¡intend¡¡to¡¡perform¡¡the¡¡¡¡¡¡full¡¡measure¡¡of¡¡the¡¡obligation¡¡which¡¡the¡¡receipt¡¡of¡¡this¡¡check¡¡¡¡¡¡implied¡£¡¡¡¡It¡¡was¡¡shown¡¡in¡¡the¡¡trial¡¡that¡¡as¡¡a¡¡matter¡¡of¡¡policy¡¡¡¡¡¡it¡¡was¡¡understood¡¡that¡¡purchases¡¡for¡¡the¡¡sinking¡­fund¡¡should¡¡¡¡¡¡not¡¡be¡¡known¡¡or¡¡understood¡¡in¡¡the¡¡market¡¡or¡¡by¡¡the¡¡public¡¡in¡¡¡¡¡¡that¡¡light£»¡¡and¡¡that¡¡Mr¡£¡¡Cowperwood¡¡as¡¡agent¡¡was¡¡to¡¡have¡¡an¡¡¡¡¡¡absolutely¡¡free¡¡hand¡¡in¡¡the¡¡disposal¡¡of¡¡his¡¡assets¡¡and¡¡¡¡¡¡liabilities¡¡so¡¡long¡¡as¡¡the¡¡ultimate¡¡result¡¡was¡¡satisfactory¡£¡¡¡¡¡¡There¡¡was¡¡no¡¡particular¡¡time¡¡when¡¡the¡¡loan¡¡was¡¡to¡¡be¡¡bought£»¡¡¡¡¡¡nor¡¡was¡¡there¡¡any¡¡particular¡¡amount¡¡mentioned¡¡at¡¡any¡¡time

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