The Governing Committee was holding a meeting in its room.  Bob rushed in unceremoniously.

“One word, gentlemen,” he called.  “I have more trades outstanding, both buys and sells, than any other member or house.  Before deciding whether to adjourn in an attempt to save ‘the Street’, I ask your consideration of this proposition:  If the Exchange will suspend operations for thirty minutes, and allow me to address the members on the floor, I will agree to buy stocks all around the room, until they have regained at least half their drop—­all of it, if possible.  I will buy until I have exhausted to the last hundred my fortune of a billion dollars.  This should make an adjournment unnecessary.  I know that this is a most extraordinary request, but you are confronted with a most extraordinary situation, the most remarkable in the history of the Stock Exchange.  Already, if what they say on the floor is correct, over two hundred banks and trust companies throughout the country have gone under, and new failures are being announced every minute.  Half the members of this and the Boston and Philadelphia Exchanges are insolvent and have closed their doors, or will close them before three o’clock, and the shrinkage in values so far reported runs over fifteen billions.  Unless something is done before the close, there will be a similar panic in every Exchange and Bourse in Europe to-morrow.”

The committee instantly voted to lay the proposition before the full board.  In another minute the president’s gavel sounded, and the floor was still as a tomb.  All eyes were fixed on the president.  Every man in that great throng knew that upon the announcement they were about to hear, might depend, at least temporarily, the welfare, not only of Wall Street, but of the nation, perhaps even of the civilised world.  The president spoke: 

“Members of the New York Stock Exchange: 

“The Governing Committee instructs me to say that Mr. Robert Brownley has asked that operations be suspended for thirty minutes, in order that he be allowed to address you.  Mr. Brownley has agreed, if this request be granted, he will upon resumption of operations purchase a sufficient amount of stock to raise the average price of all active shares at least one-half their total drop—­all of it, if possible.  He agrees to buy to the limit of his fortune of a billion dollars.  I now put Mr. Brownley’s request to a vote.  All those in favour of granting it will signify the same by saying ‘Yes.’”

A mighty roof-lifting “Yes” sounded through the room.

“All those opposed, ‘No.’”

There was a deathly hush.

“Mr. Brownley will please speak from this platform, and remember, in thirty minutes to the second, I will sound the gavel for the resumption of business.”