His offer to buy outright at three or four for one they refused absolutely.
The stock in each case was selling from one hundred and seventy to two hundred and ten, and intrinsically was worth more every year, as the city was growing larger and its need of gas greater.

At the same time they were suspicious--one and all--of any combination scheme by an outsider.

Who was he?
Whom did he represent?
He could make it clear that he had ample capital, but not who his backers were.

The old officers and directors fancied that it was a scheme on the part of some of the officers and directors of one of the other companies to get control and oust them.

Why should they sell?
Why be tempted by greater profits from their stock when they were doing very well as it was?
Because of his newness to Chicago and his lack of connection as yet with large affairs Cowperwood was eventually compelled to turn to another scheme--that of organizing new companies in the suburbs as an entering-wedge of attack upon the city proper.