to put my discovery into practice.

"I might never have done so but for that Sugar panic in which I was robbed
of millions by the 'System' through Barry Conant. In that panic the
'System,' with its unlimited resources, filched from the people by the
arbitrary manufacture of stocks, and by their manipulation did to me what
I afterward discovered I could do to them, without any resources other
than my right to do business on the floor of this Exchange. You saw the
outcome, in the second Sugar panic, of my first experiment. In a few
minutes I cleared a profit of ten million dollars. I could have made it
fifty millions, or one hundred and fifty, but I was not then on familiar
terms with my new robber-robbing device, and I had yet a heart. To make
this ten millions of money, all that was necessary for me to do was to
sell more Sugar than Barry Conant could buy. This was easy, because Barry
Conant, not knowing of my newly invented trick, could buy only what he
could pay for on the morrow, or, at least, what he believed his clients
could pay for; while I, not intending to deliver what I sold--unless by
smashing the price to a point where I could compel those who had bought to
resell to me at millions less than I sold at--could sell unlimited
amounts--literally unlimited amounts. When Barry Conant had bought all
that he thought he could pay for, he was obliged to beat a retreat in
front of my offerings, and I was able to smash, and smash, until the price
was so low that he could not by the use of what he had bought, as
collateral, borrow sufficient to pay me for what I had sold him. Then he
was compelled to turn about and sell what he had bought from me, and when
I had rebought it, for ten millions less than I had sold it for, the trick
had been turned. I had sold him 100,000 shares say at 220. He had sold
them back to me say at 120, and he stood where he had stood at the
beginning. He had none of the 100,000 shares. Both of us stood, so far as
stock was concerned, where we had stood at the beginning, but as to
profits and losses there was this difference: I had ten millions of
dollars profits, while Barry Conant's clients, the 'System,' were ten
millions losers--and all by a trick. The trick did not differ in
principle from the one in constant practice by the 'System.' When the
'System,' after manufacturing Sugar stock, sell 100,000 shares to the
people for $10,000,000, they so manipulate the market by the use of the
$10,000,00