“It is all the pledge we ever give, sir. It was unnecessary to speak of it. Nevertheless, I thank you for your confidence in us. Will you be good enough to proceed?”
He was looking at the young man steadily.
“I had on deposit at the Metropolitan National Bank this morning some forty-six millions of dollars, of which I have drawn this £2,000,000. Also with, other banks slightly more than six millions, of which those are four.”
Mr. Herzog nodded. He said meditatively: “You are, then, the gentleman to whom those institutions owe their remarkable gains in gold during the past few weeks?”
“I don’t know whether I am or not.”
“You are, sir.”
“Then I must be.”
“Pray proceed.”
“Well, I propose to purchase one hundred millions of dollars par value of bonds, carefully but steadily. Bonds are very cheap.”
“Owing to circumstances not yet known to the community, or possibly to a misapprehension of certain facts, they are cheap. Huge blocks have been thrown on the market this past week. Prices have been sacrificed; you doubtless know by whom?” His eyes interrogated as well as his voice.