The Octopus: A Story of California

Lyman Derrick, Magnus’s elder son, is a lawyer with political ambitions in San Francisco. It is several months since the formation of the League of Defense, and Lyman and another of the ranchers’ nominees make up two-thirds of the Railroad commission, a fact that instills great confidence in the League. However, because the ranchers refused to sell their land to the Railroad, the P. and S.W. set up a series of stand-in buyers—including Delaney—who bought the ranchers’ land with funneled Railroad funds. After losing their cases against the Railroad in smaller courts, the League is optimistic that the United States Circuit Court will rule in their favor. As the chapter begins, Magnus, Harran, and Presley arrive in San Francisco to receive the court’s decision in person, and Lyman brings them to a men’s club to await the news.

While at the club, Magnus converses with Cedarquist, an investor who recently closed his iron-works facility due to shrinking margins. Cedarquist predicts that the wheat markets will open up in the east, giving the ranchers the opportunity to “feed China” (306). The idea appeals to Magnus, whose thoughts are consumed by the promise of more income. The unproven aspect of the market appeals to his urges as a gambler, and he is busy plotting out the ranchers’ futures until he discovers that the courts have ruled against the ranchers once again.