WALL STREET: John D.'s $25,000,000

At a crisis point in the 1929 stock-market panic, the late great John D. Rockefeller Sr., then 90, issued a calm statement from his home at Pocantico Hills on the Hudson: "My son and I are buying sound common stocks." Some Wall Street cynics thought his real interest in the plunging market was to cover up a big short position, but John D.'s millions induced buying confidence that stemmed the terrible tide for one day. Last week the tickers clicked out a statement that sounded like old John D. talking backwards: his...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!