Most good stories start with a fundamental list of ingredients: the initial situation, conflict, complication, climax, suspense, denouement, and conclusion. Great writers sometimes shake up the recipe and add some spice.
Exposition (Initial Situation)
Happy in Helstone (Sort of)
If you're feeling like griping, you could probably criticize the opening exposition of this novel for taking its sweet time. It's a full seven chapters before Gaskell introduces the central conflict of the story—namely, the Hale family's move from the peaceful southern village of Helstone to the smoky, industrial northern town of Milton.
In these early sections, we get to know our main character, Margaret Hale, through her reactions to the fancy-shmancy wedding of her cousin Edith and her love for the natural beauty of her home village of Helstone. Oh yeah, and she turns down an early marriage proposal from her cousin's brother-in-law, Henry Lennox. So we know she's strong-minded, loves nature, and can be pretty snarky about the wedding-industrial complex… stay tuned for Margret being snarky about all sorts of industrial complexes.
We can tell during these opening chapters that some sort of inner conflict is troubling Margaret's father, Mr. Hale. Margaret assumes that it's connected to her brother Frederick, who has been forced to leave England for reasons we don't fully understand yet.
Rising Action (Conflict, Complication)
Helstone Freezes Over
We eventually find out that Mr. Hale's case of The Sads is due to the fact that the guy no longer believes in the teachings of the Church of England, even though he's a pastor. As a matter of conscience, he decides he can no longer keep his job. Instead, he uproots his family and finds work as a private tutor in the northern industrial town of Milton.
This move causes all kinds of problems for the family. Namely, both Mr. Hale and his wife Mrs. Hale die (along with three other characters), leaving Margaret very much alone. Well, almost alone. She is taken under the wing of her godfather, Mr. Bell. Margaret moves back to the south of England to live with relatives… not Mr. Bell, but her cousin Edith.
During her time in Milton, Margaret also makes the acquaintance of a Milton businessman named John Thornton. John asks Margaret to marry him, but she turns him down because 1) She thinks she's too well bred for him, and 2) She doesn't like his capitalist, selfish approach to running his factories.
It doesn't help either that John's mother can't stand Margaret's haughty attitude. As the plot unfolds, though, John tries to do a better job of treating his workers well. And Margaret (maybe because of all the freaking death in this middle chunk of the novel) becomes less haughty.
Climax (Crisis, Turning Point)
A Stroke of the Bell
Out of nowhere, the fairy godfather Mr. Bell dies of a stroke. As we know by this point, he has made Margaret the sole beneficiary of his will, so Margaret is now a very wealthy woman. Ka-ching!
Not only that, but she's also the new landlord of Mr. Thornton, the man from Milton who once proposed to her. Oh, BTW, Thornton's business is failing. Margaret has no clue what to do with this new money, so she seeks out the advice of Henry Lennox, the other dude in the book who once proposed to her.
Falling Action
Bailout
After learning that Mr. Thornton's business in Milton is going down the tubes, Margaret offers to loan him the money he needs to pay off his loans and keep his business going. Since leaving Milton, she has heard stories about how much more compassionate Mr. Thornton has become as a businessman. He has even constructed a dining hall at his factory so that he and his workers can eat side by side. This is the kind of thing that Margaret wants to support with her newfound wealth.
Resolution (Denouement)
Second Time's the Charm
At first, Mr. Thornton is stunned at Margaret's generous offer of a loan. But then he realizes that the loan is also a way for Margaret to say that she has changed her mind about marrying him. The two of them decide to get married, even though each one says that she/he isn't good enough for the other. They know that their families won't know what to think of the marriage, but frankly, they don't really care.
Looks like it's North and South, together at last. Hooray!