at?

Yes, Mr. Kane knew of that.

Only within six weeks the last lots in the Ridgewood section of
"Yalewood" had been closed out at a total profit of forty-two per
cent. He went over a list of other deals in real estate which he had
put through, all well-known properties. He admitted frankly that there
were failures in the business; he had had one or two himself. But the
successes far outnumbered the bad speculations, as every one knew. Now
Lester was no longer connected with the Kane Company. He was probably
looking for a good investment, and Mr. Ross had a proposition to lay
before him. Lester consented to listen, and Mr. Ross blinked his
cat-like eyes and started in.

The idea was that he and Lester should enter into a one-deal
partnership, covering the purchase and development of a forty-acre
tract of land lying between Fifty-fifth, Seventy-first, Halstead
streets, and Ashland Avenue, on the southwest side. There were
indications of a genuine real estate boom there--healthy,
natural, and permanent. The city was about to pave Fifty-fifth Street.
There was a plan to extend the Halstead Street car line far below its
present terminus. The Chicago, Burlington & Quincy, which ran near
there, would be glad to put a passenger station on the property. The
initial cost of the land would be forty thousand dollars which they
would share equally. Grading, paving, lighting, tree planting,
surveying would cost, roughly, an additional twenty-five thousand.
There would be expenses for advertising--say ten per cent, of the
total investment for two years, or perhaps three--a total of
nineteen thousand five hundred or twenty thousand dollars. All told,
they would stand to invest jointly the sum of ninety-five thousand, or
possibly one hundred thousand dollars, of which Lester's share would
be fifty thousand. Then Mr. Ross began to figure on the profits.

The character of the land, its salability, and the likelihood of a
rise in value could be judged by the property adjacent, the sales that
had been made north of Fifty-fifth Street and east of Halstead. Take,
for instance, the Mortimer plot, at Halstead and Fifty-fifth streets,
on the south-east corner. Here was a piece of land that in 1882 was
held at forty-five dollars an acre. In 1886 it had risen to five
hundred dollars an acre, as attested by its sale to a Mr. John L.
Slosson at that time. In 1889, three years later, it had been sold to
Mr. Mortimer for one thousand per acre,