Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1908-01-30
p TX.

one word, Sentlenen, ne caIled.
81 have more trades outstanding, both
buys and sells, than any other mem
Der Or house. Before deciding whether
to adjourn in an attempt to save the
Street. l ask your consideration Of
this proposition If the exchange will
suspend operations for 30 minutes,
and allow me TO address the mem
hers on the floor, l will agree to buy
stocks all around the room. until they
have ~regained at least half their drop
ALI of it, If possible. l will buy un
til I have exhausted to the last hun
dred my fortune Of a billion dollars.
This should make an adjournment un-
necessary. / 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. Al
ready, if what they say on the floor
is correct, over 200 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 s%hrinkage in values
so far reported runs over fifteen bill
lions. Unless something is done be-
fore the close. there will be a similar
panic in every exchange and bourse
in Europe tomorrow"
The committee instantly voted to
lay the proposition before the full
hoard. In another minute the presi-
dents gayel 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 tc
hear, might depend, at least tenn
porarily, the welfare, not only of
Wall street, but of the nation, per-
haps even Of the civilized world. The
president spoke:
members of the New York Stock
Exchange:
THE governing committee i~nstructs
me to say that Mr.. Robert BROMLEY
has asked that operations be suspend
ed for 80 minutes, in order that he be
allowed to address you, Mr.. Brown
ley 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 pos
sible. He agrees to buy to the limit
of his fortune Of a billion dollars. |
now put Nh. Brownley's request to a
vote. All those in favor of granting
it will signify the same by saying
Yes"
A mighty roof-lifting Eyes" sound.
eed through the room.
"All those opposed, No."
There vas a deathly hush.
"Mr. BROMLEY will please speak
from this platform, and remember, in
30 minutes to the second, | will sound
the gavel for the resumption of bust.
ness"
Bob BROMLEY strobe to the place
just vacated by the president. The
crowd was growing larger every min.
ate. The ticker was already kissing
a tape biograph of this extraordinary
situation in brokerage shops, hotels,
and banks throughout the country,
and in a few minutes the news Of ii
would be In the capitals Of Europe.
Never before in history did man have
such an audience-the whole civilized
world. Already arose from Wall,
Broad and New streets, which sur.
round the exchange, the hoarse bel.
low Of the gathering hordes. Before
the ticker should the re-
sumption Of business these would
number hundreds Of thousands, for
the financial district for more than an
hour had been a surging mob.
For once at least the m%uch-abused
phrase, He looked the part" could
be used in all truthfulness. AS Rob.
ert BROMLEY threw back his head
and shoulders and faced that crowd
of men, some of whom he had hurt,
many of whom he had beggared, and
all of whom he had tortured, he pre-.
scented a picture such as a royal lion
recently from the jungles and Just
freed from his cage might have made.
Defiance, Difference, contempt, and
pity all blended in his mien, but over
all was an I-am-the-one-you-are-the.
many atmosphere Of confidence that
turned my spinal column into a mer.
curry tube. He began to speak:
Men of Wall street:
You have just witnessed a record
breaking slaughter. / have asked
permission to talk to you for the pur.
pose of showing you how any mem.
Der Of a great stock exchange may at
any time do what l have done to.
day. Weigh well what | am about to
say to you. During the last quarter
of a century there has grown up in
this free and fair land Of ours a sys.
TEN by which the few take from the
many the results of their labors. The
men who take have no more license,
from God or man, to take, than have
those from whom they flch. They
are not endowed by God with su.
perlor wisdom, nor have they per.
formed for their fellow-men any labor
or given to them anything Of value
that entities them to what they take.
Their only license to plumber Is their
knowledge Of the system Of trickery
and fraud that they themselves have
created. No man can gainsay this,
fer on every side is the evide. &c.
Meu come into Wall street at SUI lse
without dollars: before that same in