His relations with Edward Malia Butler had become very intimate.

He was now advising with him constantly in regard to the handling of his securities, which were numerous.
Butler held stocks in such things as the Pennsylvania Coal Company, the Delaware and Hudson Canal, the Morris and Essex Canal, the Reading Railroad.

As the old gentleman's mind had broadened to the significance of the local street-railway problem in Philadelphia, he had decided to close out his other securities at such advantageous terms as he could, and reinvest the money in local lines.

He knew that Mollenhauer and Simpson were doing this, and they were excellent judges of the significance of local affairs.

Like Cowperwood, he had the idea that if he controlled sufficient of the local situation in this field, he could at last effect a joint relationship with Mollenhauer and Simpson.
Political legislation, advantageous to the combined lines, could then be so easily secured.