Chapter 139: The Formation of a Camp

At present, it is not known whether it is appropriate to describe it as a consortium. Among these families in Boston, the Lowell, Adams, and Lawrence families are engaged in banking, insurance, and investment companies, and later they entered the field of light industry. That's all for now. When the First National Bank of Boston was established, Morgan himself was still selling coffee beans in New Orleans.

Normally, these families should have gradually become the masters of the financial industry! But the problem was that Morgan's growth was very abnormal. It took less than 20 years for it to go from being far less powerful than the other families to being more powerful than them.

Morgan, who had established his unquestionable authority in the financial industry, seemed to have no regard for the feelings of several Boston families. That's pretty much it.

"Master William, you may not know that the Westinghouse Electric you imagine as an ally is not a very safe thing. Some of Westinghouse Electric's shares are in Morgan's hands." Seeing Sheffield's uncertain face, Lowell thought that the other party was evaluating the pros and cons, so he had to make things clear.

Sheffield's eyes suddenly widened a lot, and his brows slightly frowned, "I haven't heard of this. Could it be that the electric current war between Edison and Tesla was just a show?"

"They are just two electrical engineers. They certainly have contributed to electrification, but it depends on who wants to promote it. Master William may not know about the financial industry. Morgan has already made plans in the electrical field, but your sudden appearance is beyond their calculations." Lowell seemed very happy to see Sheffield's surprise. The family heir was not very old, but no one knew who he learned this never-hurrying demeanor from. It was really annoying.

The person who knows finance is in Paris, otherwise how can he get such a big industry? Sheffield pondered for a moment and said, "Thank you for the information provided by Mr. Lowell. I personally do not reject the friendship of Boston. I can only guarantee my interest in it. As for how to cooperate, I believe this is not something that you and I can decide. Many details need professional talents to handle."

Sheffield did not reject the good intentions of several Boston companies. The United States is still in a stage where financial capital and industrial capital are relatively distinct. Although the integration has begun, it is only just beginning. For example, Morgan in the financial industry has gradually intervened in the real sector to make layouts.

Of course, not everyone is willing to accept Morgan's recruitment, or to rectify the industry order. Apart from his own family, isn't Lowell, who represents several Boston families, one of them?

Morgan represents the largest financial capital in the United States today. The essence of money is the general exchange equivalent of labor. People use money to exchange labor, whether it is production labor or service industry labor.

Controlling money is equivalent to controlling the ability to appropriate other people's labor. If you use financial means to change the distribution of money, reduce the price of labor as much as possible, increase the value of money, depreciate labor, and achieve an unequal transaction between money and labor, you will become a financial capitalist.

Morgan is the most powerful capitalist in the United States, but he is not without challengers. The families centered around the First National Bank of Boston are not very convinced of Morgan. That is why they came from the northeast to the southwest to express their willingness to cooperate on this matter.

Once Morgan lost to the Sheffield family in the field of electrification, it proved that Morgan was not invincible. Although the financial industry makes money much faster than the general industry, it also has huge risks, and these are uncontrollable risks, because confidence is a very important factor in the financial industry, but this factor cannot be quantified, and no one knows which card will cause a qualitative change.

Being the best in the industry is a reward for this, and you will face a constant stream of challengers. The financial industry has a larger capital flow than other industries, and it is very difficult to dominate the world. Morgan wanted to have absolute control over the industry like Rockefeller, but if he really wanted to do so, Standard Oil's antitrust law would probably fall on him first.

Now Lowell came to Arlington with sincerity. After communicating with the old man, Sheffield accepted the olive branch extended by Boston.

"I don't really understand the financial industry, so my family has never established a bank, nor has it developed in the insurance industry. The accumulation in this area is not yet sufficient, but I agree to contact the Bank of Boston, so that we can learn from each other's strengths and make up for each other's weaknesses. In the same financial industry, these Boston families actually came to seek cooperation, which is a big risk. After all, Morgan's position in the financial industry is there. If they want to do something to our family, Morgan really can't do anything. If they do something to the Bank of Boston, it will be much easier!"

Annabell was not as stubborn as imagined, but because she did not have much dealings with banks, she had to be cautious about this matter. She said that she had to call back some people from London, so the cooperation would have to wait.

"Grandma, is it because I have spent too much this year that our family is having financial difficulties?" Sheffield lowered his voice, like a thief, ready to ask Grandma to give him a definite answer.

"That's not the case, but I can't refuse to use other people's money to start my own business, right?" Annabelle showed a wicked expression. "DuPont has always had a bad relationship with my family, and you are determined to promote electrification. How can you not find some allies? The current cooperation with the Rockefeller family is limited to contracts. It's not certain whether we can find oil."

Texas definitely has oil. Sheffield is faced with such a huge inheritance, but he cannot tell this enlightened old lady directly!

After explaining the basis of cooperation to Lowell and saying that it would take some time to evaluate, Lowell left Arlington. He was not very suitable for the southern climate of Texas, and he always felt wet, but he left with joy. By now, Lowell had understood that this Texas landlord was on his side to deal with the common enemy Morgan.

This contact was kept strictly confidential for both parties, but they both understood that this cooperation already had the rudiments of dividing camps.

From Lowell, Sheffield also learned that some of Westinghouse's shares were already in Morgan's hands. This did not mean that the cooperation would fail, because it was unknown how many shares these were and whether they could affect Westinghouse's decision. However, filing was a must to prevent being caught off guard at a critical moment.

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With the arrival of the new year in 1896, Arlington Manor was plunged into jubilation again, including Keane who was preparing to leave Arlington. Sheffield gave him what he wanted, the full decision-making power of the United Fruit Company. This was considered to be the best use of his resources. He and other shareholders would not interfere with his decision-making and could only wait to divide the money.

Hmm...

(End of this chapter)