harging　his　old…time　agent　and　broker　with　larceny　　　and　embezzlement；　and　alleging　that　he　has　transferred　to　his　　　own　use　without　a　shadow　of　return　sixty　thousand　dollars　of　　　the　money　which　belongs　to　the　city　treasury？　What　is　it？　Is　　　it　that　Mr。　Cowperwood　secretly；　with　great　stealth；　as　it　were；　　　at　some　time　or　other；　unknown　to　Mr。　Stener　or　to　his　assistants；　　　entered　the　office　of　the　treasurer　and　forcibly；　and　with　　　criminal　intent；　carried　away　sixty　thousand　dollars'　worth　of　　　the　city's　money？　Not　at　all。　　The　charge　is；　as　you　have　heard　　　the　district　attorney　explain；　that　Mr。　Cowperwood　came　in　　　broad　daylight　at　between　four　and　five　o'clock　of　the　afternoon　　　preceeding　the　day　of　his　assignment；　was　closeted　with　Mr。　　　Stener　for　a　half　or　three…quarters　of　an　hour；　came　out；　　　explained　to　Mr。　Albert　Stires　that　he　had　recently　bought　sixty　　　thousand　dollars'　worth　of　city　loan　for　the　city　sinking…fund；　　　for　which　he　had　not　been　paid；　asked　that　the　amount　be　　　credited　on　the　city's　books　to　him；　and　that　he　be　given　a　　　check；　which　was　his　due；　and　walked　out。　　Anything　very　　　remarkable　about　that；　gentlemen？　Anything　very　strange？　Has　　　it　been　testified　here　to…day　that　Mr。　Cowperwood　was　not　the　　　agent　of　the　city　for　the　transaction　of　just　such　business　as　　　he　said　on　that　occasion　that　he　had　transacted？　Did　any　one　say　　　here　on　the　witness…stand　that　he　had　not　bought　city　loan　as　　　he　said　he　had？
  〃Why　is　it　then　that　Mr。　Stener　charges　Mr。　Cowperwood　with　　　larcenously　securing　and　feloniously　disposing　of　a　check　for　　　sixty　thousand　dollars　for　certificates　which　he　had　a　right　to　　　buy；　and　which　it　has　not　been　contested　here　that　he　did　buy？　　　The　reason　lies　just　herelistenjust　here。　　At　the　time　my　　　client　asked　for　the　check　and　took　it　away　with　him　and　　　deposited　it　in　his　own　bank　to　his　own　account；　he　failed；　　　so　the　prosecution　insists；　to　put　the　sixty　thousand　dollars'　　　worth　of　certificates　for　which　he　had　received　the　check；　in　　　the　sinking…fund；　and　having　failed　to　do　that；　and　being　　　compelled　by　the　pressure　of　financial　events　the　same　day　to　　　suspend　payment　generally；　he　thereby；　according　to　the　　　prosecution　and　the　anxious　leaders　of　the　Republican　party　in　　　the　city；　became　an　embezzler；　a　thief；　a　this　or　thatanything　　　you　please　so　long　as　you　find　a　substitute　for　George　W。　Stener　　　and　the　indifferent　leaders　of　the　Republican　party　in　the　eyes　　　of　the　people。〃
  And　here　Mr。　Steger　proceeded　boldly　and　defiantly　to　outline　the　entire　political　situation　as　it　had　manifested　itself　in　connection　with　the　Chicago　fire；　the　subsequent　panic　and　its　political　consequences；　and　to　picture　Cowperwood　as　the　unjustly　maligned　agent；　who　before　the　fire　was　valuable　and　honorable　enough　to　suit　any　of　the　political　leaders　of　Philadelphia；　but　afterward；　and　when　political　defeat　threatened；　was　picked　upon　as　the　most　available　scapegoat　anywhere　within　reach。
  And　it　took　him　a　half　hour　to　do　that。　　And　afterward　but　only　after　he　had　pointed　to　Stener　as　the　true　henchman　and　stalking　horse；　who　had；　in　turn；　been　used　by　political　forces　above　him　to　accomplish　certain　financial　results；　which　they　were　not　willing　to　have　ascribed　to　themselves；　he　continued　with：
  〃But　now；　in　the　light　of　all　this；　only　see　how　ridiculous　all　　　this　is！　How　silly！　Frank　A。　Cowperwood　had　always　been　the　　　agent　of　the　city　in　these　matters　for　years　and　years。　　He　　　worked　under　certain　rules　which　he　and　Mr。　Stener　had　agreed　　　upon　in　the　first　place；　and　which　obviously　came　from　others；　　　who　were　above　Mr。　Stener；　since　they　were　hold…over　customs　　　and　rules　from　administrations；　which　had　been　long　before　Mr。　　　Stener　ever　appeared　on　the　scene　as　city　treasurer。　　One　of　　　them　was　that　he　could　carry　all　transactions　over　until　the　　　first　of　the　month　following　before　he　struck　a　balance。　　That　　　is；　he　need　not　pay　any　money　over　for　anything　to　the　city　　　treasurer；　need　not　send　him　any　checks　or　deposit　any　money　or　　　certificates　in　the　sinking…fund　until　the　first　of　the　month　　　becausenow　listen　to　this　carefully；　gentlemen；　it　is　　　importantbecause　his　transactions　in　connection　with　city　　　loan　and　everything　else　that　he　dealt　in　for　the　city　treasurer　　　were　so　numerous；　so　swift；　so　uncalculated　beforehand；　that　　　he　had　to　have　a　loose；　easy　system　of　this　kind　in　order　to　do　　　his　work　properlyto　do　business　at　all。　　Otherwise　he　could　　　not　very　well　have　worked　to　the　best　advantage　for　Mr。　Stener；　　　or　for　any　one　else。　　It　would　have　meant　too　much　bookkeeping　　　for　himtoo　much　for　the　city　treasurer。　　Mr。　Stener　has　　　testified　to　that　in　the　early　part　of　his　story。　　Albert　Stires　　　has　indicated　that　that　was　his　understanding　of　it。　　Well；　then　　　what？　Why；　just　this。　　Would　any　jury　suppose；　would　any　sane　　　business　man　believe　that　if　such　were　the　case　Mr。　Cowperwood　　　would　be　running　personally　with　all　these　items　of　deposit；　　　to　the　different　banks　or　the　sinking…fund　or　the　city　treasurer's　　　office；　or　would　be　saying　to　his　head　bookkeeper；　'Here；　Stapley；　　　here　is　a　check　for　sixty　thousand　dollars。　　See　that　the　　　certificates　of　loan　which　this　represents　are　put　in　the　　　sinking…fund　to…day'？　And　why　not？　What　a　ridiculous　supposition　　　any　other　supposition　is！　As　a　matter　of　course　and　as　had　　　always　been　the　case；　Mr。　Cowperwood　had　a　system。　　When　the　　　time　came；　this　check　and　these　certificates　would　be　　　automatically　taken　care　of。　　He　handed　his　bookkeeper　the　　　check　and　forgot　all　about　it。　　Would　you　imagine　a　banker　with　　　a　vast　business　of　this　kind　doing　anything　else？〃
  Mr。　Steger　paused　for　breath　and　inquiry；　and　then；　having　satisfied　himself　that　his　point　had　been　sufficiently　made；　he　continued：
  〃Of　course　the　answer　is　that　he　knew　he　was　going　to　fail。　　　Well；　Mr。　Cowperwood's　reply　is　that　he　didn't　know　anything　of　　　the　sort。　　He　has　personally　testified　here　that　it　was　only　at　　　the　last　moment　before　it　actually　happened　that　he　either　　　thought　or　knew　of　such　an　occurrence。　　Why；　then；　this　alleged　　　refusal　to　let　him　have　the　check　to　which　he　was　legally　entitled？　　　I　think　I　know。　　I　think　I　can　give　a　reason　if　you　will　hear　me　　　out。〃
  Steger　shifted　his　position　and　came　at　the　jury　from　another　intellectual　angle：
  〃It　was　simply　because　Mr。　George　W。　Stener　at　that　time；　owing　　　to　a　recent　notable　fire　and　a　panic；　imagined　for　some　reason　　　perhaps　because　Mr。　Cowperwood　cautioned　him　not　to　become　　　frightened　over　local　developments　generallythat　Mr。　Cowperwood　　　was　going　to　close　his　doors；　and　having　considerable　money　on　　　deposit　with　him　at　a　low　rate　of　interest；　Mr。　Stener　decided　　　that　Mr。　Cowperwood　must　not　have　any　more　moneynot　even　the　　　money　that　was　actually　due　him　for　services　rendered；　and　that　　　had　nothing　whatsoever　to　do　with　the　money　loaned　him　by　Mr。　　　Stener　at　two　and　one…half　per　cent。　　Now　isn't　that　a　ridiculous　　　situation？　But　it　was　because　Mr。　George　W。　Stener　was　filled　　　with　his　own　fears；　based　on　a　fire　and　a　panic　which　had　　　absolutely　nothing　to　do　with　Mr。　Cowperwood's　solvency　in　the　　　beginning　that　he　decided　not　to　let　Frank　A。　Cowperwood　have　　　the　money　that　was　actually　due　him；　because　he；　Stener；　was　　　criminally　using　the　city's　money　to　further　his　own　private　　　interests　（through　Mr。　Cowperwood　as　a　broker）；　and　in　danger　　　of　being　exposed　and　possibly　punished。　　Now　where；　I　ask　you；　　　does　the　good　sense　of　that　decision　come　in？　Is　it　apparent　to　　　you；　gentlemen？　Was　Mr。　Cowperwood　still　an　agent　for　the　city　　　at　the　time　he　bought　the　loan　certificates　as　here　testified？　　　He　certainly　was。　　If　so；　was　he　entitled　to　that　money？　Who　is　　　going　to　stand　up　here　and　deny　it？　Where　is　the　question　then；　　　as　to　his　right　or　his　honesty　in　this　matter？　How　does　it　come　　　in　here　at　all？　I　can　tell　you。　　It　sprang　solely　from　one　source　　　and　from　nowhere　else；　and　that　is　the　desire　of　the　politicians　　　of　this　city　to　find　a　scapegoat　for　the　Republican　party。
  〃Now　you　may　think　I　am　going　rather　far　afield　for　an　explanation　　　of　this　very　peculiar　decision　to　prosecute　Mr。　Cowperwood；　an　　　agent　of　the　city；　for　demanding　and　receiving　what　actually　　　belonged　to　him。　　But　I'm　not。　　Consider　the　position　of　the　　　Republican　party　at　that　time。　　Consider　the　fact　that　an　exposure　　　of　the　truth　in　regard　to　the　details　of　a　large　defalcation　in　　　the　city　treasury　would　have　a　very　unsatisfactory　effect　on　the　　　election　about　to　be　held。　　The　Republican　party　had　a　new　city　　　treasurer　to　elect；　a　new　district　attorney。　　It　had　been　in　the　　　habit　of　allowing　its　city　treasurers　the　privilege　of　investing　　　the　funds　in　their　possession　at　a　low　rate　of　interest　for　the　　　benefit　of　themselves　and　their　friends。　　Their　salaries　were　　　small。　　They　had　to　have　some　way　of　eking　out　a　reasonable　　　existence。　　Was　Mr。　George　Stener　responsible　for　this　custom　of　　　loaning　out　the　city　money？　Not　at　all。　　Was　Mr。　Cowperwood？　Not　　　at　all。　　The　custom　had　been　in　vogue　long　before　either　Mr。　　　Cowperwood　or　Mr。　Stener　came　on　the　scene。　　Why；　then；　this　　　great　hue　and　cry　abou