withdrawal and revocation of any requisition or authority by
me for the sale of loan, so far as the same has not been
fulfilled. Applications for loans may for the present be
made at this office. Very respectfully,

JACOB BORCHARDT, Mayor of Philadelphia.

And did Mr. Jacob Borchardt write the letters to which his name
was attached? He did not. Mr. Abner Sengstack wrote them in Mr.
Mollenhauer's office, and Mr. Mollenhauer's comment when he saw them was
that he thought they would do--that they were very good, in fact. And
did Mr. George W. Stener, city treasurer of Philadelphia, write that
very politic reply? He did not. Mr. Stener was in a state of complete
collapse, even crying at one time at home in his bathtub. Mr. Abner
Sengstack wrote that also, and had Mr. Stener sign it. And Mr.
Mollenhauer's comment on that, before it was sent, was that he thought
it was "all right." It was a time when all the little rats and mice were
scurrying to cover because of the presence of a great, fiery-eyed public
cat somewhere in the dark, and only the older and wiser rats were able
to act.

Indeed, at this very time and for some days past now, Messrs.
Mollenhauer, Butler, and Simpson were, and had been, considering
with Mr. Pettie, the district attorney, just what could be done about
Cowperwood, if anything, and in order to further emphasize the blame in
that direction, and just what defense, if any, could be made for Stener.
Butler, of course, was strong for Cowperwood's prosecution. Pettie did
not see that any defense could be made for Stener, since various records
of street-car stocks purchased for him were spread upon Cowperwood's
books; but for Cowperwood--"Let me see," he said. They were speculating,
first of all, as to whether it might not be good policy to arrest
Cowperwood, and if necessary try him, since his mere arrest would seem
to the general public, at least, positive proof of his greater guilt,
to say nothing of the virtuous indignation of the administration, and in
consequence might tend to divert attention from the evil nature of the
party until after election.

So finally, on the afternoon of October 26, 1871, Edward Strobik,
president of the common council of Philadelphia, appeared before the
mayor, as finally ordered by Mollenhauer, and charged by affidavit that
Frank A. Cowperwood, as broker, employed by the treasurer to sell the
bonds of the city, had committed embezzlement and larcen