The Octopus opens with Presley traveling through the California countryside, setting the stage for a complex drama involving land, power, and the lives of several key figures. The narrative soon reveals the ominous presence of the railroad, likened to a monstrous octopus, weaving its tentacles through the lives of these individuals. Social and personal conflicts unfold against this backdrop, depicting the struggles between the wheat growers and the relentless corporate force of the railroads.

Presley's Journey and The Ominous Railroad

The opening chapter of The Octopus follows Presley as he rides his bicycle from Los Muertos ranch to a seed farm, encountering pivotal characters like Hooven, Harran, Dyke, Annixter, and Vanamee. As the chapter closes, a grave incident occurs when sheep, under Vanamee’s care, are tragically run over by a train. This event serves as the first and only direct reference to the book’s title, as Presley envisions the train as a monstrous "octopus," its "tentacles of steel clutching into the soil."

Magnus Derrick's Return and the Railroad's Hold

The following day, Magnus Derrick returns to his ranch from San Francisco to find himself embroiled in a dispute with S. Behrman, the railroad's agent. The disagreement arises over regulations that necessitate his newly purchased ploughs to be shipped to San Francisco and back before he can claim them. That evening, Magnus convenes local wheat growers at his home to discuss the railroad’s increased rates. Meanwhile, Annixter, at the Quien Sabe ranch, finds himself inexplicably drawn to Hilma Tree, sparking a fit of anger towards Delaney, a ranch hand, whom he fires impulsively.

Wheat Growers and Political Integrity

At a gathering on Derrick’s ranch, the wheat growers discuss the railroad’s "grading" of land. Initially, when the railroad was constructed, the growers were promised odd-numbered parcels, while the government retained the even-numbered ones. Over time, the farmers purchased these government parcels, with the expectation they could later buy the railroad’s graded land at a modest price. However, suspicions of bribery within the Railroad Overseeing Commission lead some ranchers to consider similar tactics, though Magnus refuses to engage in "dirty politics."

Vanamee's Return and Annixter's Dilemma

Chapter four introduces Vanamee, who has returned to the valley still grieving the loss of his beloved, slain eighteen years prior. He works quietly as a shepherd while hauntedly revisiting the Mission where they once met. Concurrently, Annixter’s interest in Hilma intensifies, culminating in an awkward attempt to kiss her, which causes her to flee. Ashamed of his actions, Annixter plans a large celebration upon the completion of his immense barn, while also grappling with uncertainty at the railroad office regarding land prices.

The Barn Dance and Disappointing News

The completed barn’s dance becomes a lively affair, momentarily interrupted by Delaney's drunken intrusion. Armed and disruptive, Delaney challenges Annixter, who bravely confronts him, emerging as a hero when Delaney departs. The night takes a sharp turn with the arrival of a messenger delivering telegrams from the railroad. To the dismay of the ranchers, the land prices announced are exorbitantly high, far exceeding the anticipated two dollars and fifty cents per acre.

Lyman Derrick's Political Maneuverings

In Book Two, Lyman Derrick, Magnus’s son, is scrutinized for his role on the railroad commission, a position secured with financial support from his father and fellow wheat growers. Despite promises to reduce grain shipment rates, Lyman explains that the change will be neither swift nor straightforward. Meanwhile, Presley mingles with affluent friends who propose shipping California wheat to China, fueling Magnus Derrick’s grand aspirations for his agricultural empire.

Annixter and Dyke's Misfortunes

Annixter’s romantic pursuit continues as he expresses his desire...