"The third class is that large one that always will exist while there is
stock-gambling, a class of honest, square-dealing-play-the-game-fair-Exchange
men who would take no unfair advantage of their fellow-members until they
become awakened to the knowledge that they are about to be ruined by their
fellow-members' trickery.
"Next, let us consider further whether it is possible for our Exchange to
prevent my device from being worked, now that it is known to all. Suppose
the Governing Committee was informed in advance that the attempt to work
the trick was to be made. If, at any session, after gong-strike, the
Governing Committee, or any Exchange authority, could for any reason
compel a member to cease operating, even for the purpose of showing that
his transactions were legitimate, the entire structure of stock-gambling
would fall. Think it through: Suppose a man like Barry Conant or myself,
or any active commission broker, begins the execution of a large order for
a client, one, say, who has advance information of a receivership, a fire
at a mine, the death of a President, a declaration of war, or any of the
hundred and one items of information that must be acted upon instantly,
where a delay of a minute would ruin the broker, or his house, or its
clients.
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