155 valued at $88,000, as complete settlement of the Second Mortgage. In other words, Biola was settling an obligation of $274,000 for a total of $113,000. Findi-nq-"t1ieinserves dealing with some astute negotiatiors, one of the Bank's representatives later remarked jokingly after the agreement had been reached , that they had accepted the terms of the new agreement because they feared if the negotiations continued much longer, they would be "fast talked" by the Biola men, and the Bank would wind up cancelling the entire indebtedness . The members of the Biola Committee walked away from the Bank praising God for the miracle He had performed, but realizing they must now raise the $25,000 cash they had promised the Bank, no easy task because of the dras- tic financial conditions brought on by the Depression. To raise this amount in a few days was an impossibility, humanly speaking. However, they knew that "with God all things are possible." So, with faith in God, they set about the task of raising the cash necessary. Immediately, Dr. Talbot launched a campaign to raise the $25,000. From the pulpit of the Church of the Open Door and on his radio program, he ap- pealed to Biola' s friends to come :to its rescue. The response was both im- mediate and adequate to meet the need. In fact, more than the required amount was received. Within one month, more than sixteen hundred letters were received from Biola's friends. Many of those giving indicated they were choosing to do without something they needed personally in order to help save Biola. One young lady indicated she had s~~ $14.00, which she withdrew to give to the fund. A widowed lady sent her engagement ring be- cause she had nothing else to give. A young boy scribbled a note to Dr. Talbot in which he said, "I am glad you thought the Bible Institute belongs to the people. I am giving you the money I have saved. I hope to come to the Bible Institute when I am old enough." A woman came to Dr. Talbot's office, laid five twenty-dollar bills upon his desk, stating that she was using her funeral money to help Biola. Another lady gave a cashier's check
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