Abruptly in October 1929 hell broke loose on the New York stock exchange. After one of those days of inferno, I wobbled from a hotel bar to a brokerage office. It was eight o’clock – five hours after the market closed. The ticker still clattered. I was staring at an inch of the tape which bore the inscription XYZ-32. It had been 52 that morning. I was finished and so were many friends. The papers reported men jumping to death from the towers of High Finance. That disgusted me. I would not jump. I went back to the bar. My friends had dropped several million since ten o’clock – so what? Tomorrow was another day. As I drank, the old fierce determination to win came back.

Next morning I telephoned a friend in Montreal. He had plenty of money left and thought I had better go to Canada. By the following spring we were living in our accustomed style. I felt like Napoleon returning from Elba. No St. Helena for me! But drinking caught up with me again and my generous friend had to let me go. This time we stayed broke.