Chapter 578 Morgan First

At the Union Bank headquarters in Manhattan, Blair, president of the bank, was trying to persuade Sheffield with all his might, all the while saying that this move would open up a market of 400 million people and establish the international influence of the bank.

"I think Morgan and his team are better at this!" Sheffield looked into Blair's eyes and said unmoved, "We at United Bank should not get involved in this matter. At this stage, United Bank's business is mainly focused on consolidating domestic business, rather than building global business. It's a little early."

"Boss, this is a good opportunity. I don't understand why you are so conservative." Blair was very annoyed. "China's situation is good now. The fiscal revenue has increased greatly in recent years. The risk is very small."

Sheffield agrees with this point. The last few years of the Qing Dynasty did show some signs of revival. Otherwise, they would not have rebuilt the Beiyang Fleet and approached the United States for technical cooperation. The time of collapse was far from the worst, but so what? There were no signs.

The opportunity Blair mentioned was the railway bonds issued by the Qing Dynasty, which listed the construction of railways as the top priority. The Huguang Railway was the Yuehan Railway in Hunan and Hubei at the time, and the Chuanhan Railway in Hubei. Both railways were under the jurisdiction of the Governor-General of Huguang, so they were called this name.

The Qing government issued this bond to foreigners with the guarantee of the salt tax from the two lakes and entrusted the banking consortium of the United States, Britain, Germany and France. The railways built at that time were mainly from Guangshui to Xiangyang, from Jingmenzhou to Yichang, and from Yichang to Fengjie.

The Ministry of Posts and Communications was responsible for the issuance of this bond, which was specifically undertaken by Sheng Xuanhuai, the minister of the Ministry. In order to finance the construction of the Huguang Railway, a national debt with an interest rate of 5% was issued, referred to as Huguang Bonds. The Qing government signed a loan contract for the Huguang Railway with the banking consortiums of Britain, France, Germany and the United States. The total loan amount was 10 million pounds, and the first phase was 6 million pounds, which were distributed by the British HSBC in London and Shanghai, the French Banque de l'Indochine in Paris, the German Deutsch-Asiatische Bank in Berlin, and the American banking consortium in New York.

The slave owners even knew that this eventually inspired the Railway Protection Movement, which could be said to have caused the collapse of the Qing Dynasty. However, this bond seemed to have become a piece of waste paper in the end, a junk bond that no one wanted.

Now the CEO of the United Bank got the news. It happened that his boss was recently in the vicinity of New York, so he excitedly told Sheffield that a gold mine had been discovered.

Unfortunately, Blair's boss happened to know that the final result of the railway bond issuance was to fleece the four banks. Although he had just verbally reached a big deal of more than 10 billion, he was not so proud as to take the initiative to step into the trap.

"The head office has recently been doing business with the Morgan family, and we cannot stir up trouble in each other's territory." Faced with the various benefits Blair told him, Sheffield had to turn into a party of the overall situation and said, "So, let the Morgans do this kind of good thing."

I hope that by then young Morgan will not cause trouble for Sheffield because he was fleeced. The slave owner is not a prophet. How can he know that the Qing Dynasty has come to an end? What good does it matter if he knows?

I heard that this bond could be sold for more than a thousand dollars when it is auctioned on the Internet in the future. Who says it can't make a profit if it is kept for another two or three hundred years?

Under the supreme guidance of Sheffield Morgan First, Blair could only complain and tell Morgan Bank to withdraw from the competition for the railway bonds. Sheffield took the initiative to call Morgan Jr. to maintain the friendship between the two sides.

The total amount of the four banks was 6 million pounds, but only 1.5 million pounds fell into the hands of Morgan Bank. With the strength of the Morgan family, this loss was not much at all. Even if there was a loss, it was God's will!

Under the guiding principle of Morgan first, Sheffield soon received the gratitude of Morgan Jr., but there was a disagreement on the way of leisure. Sheffield said to make an airship, and Morgan Jr. said to make a yacht.

This reflects the similarities between the two men. Sheffield believed in the airships made by his company, and Morgan Jr. believed in the yachts made by his company. Instead, they were skeptical about each other's tools.

Of course, this is not a big problem. In general, the two are still friendly. The friendship with a total value of one billion is not for nothing.

"Once we complete the transaction, you will undoubtedly be the richest man in the United States." Morgan Jr. exclaimed, "I wonder what you think, like Carnegie, or invest again?"

"There are still many industries that need my promotion. Now is not the time to relax." Sheffield's face was full of the expression that I want to change the times. Like Carnegie? What? Do charity? Mr. Morgan Jr. may be dreaming. Slave owners would rather burn dollars as firewood than waste time.

Of course, a huge sum of money will flow into the Evelyn Foundation in the future, but that is just the baby fund left by Sheffield for Evelyn, and in essence it will be left to their descendants.

The slave owner knew that after the transaction was successful, it would be very eye-catching to hold such a huge sum of money in his hands. Even if it was used to settle the current debt, it would be too much, so he could not leave it in the bank to collect dust. First of all, of course, he would exchange it for gold. The remaining money would be used to maintain and invest in domestic industries, and then find suitable places to buy things.

Australia is a vast country with a sparse population. Wouldn't it be great to buy a piece of land for mining or ranching? Brazil's Vale also needs kind people like Sheffield to invest.

This is definitely not a transfer of assets overseas. As we all know, Sheffield United is an international company. It has responsibilities to all mankind and cannot view the issue from such a narrow perspective as transferring assets overseas.

Naturally, investments have gains and losses. Once it was out of the sight of the United States, and Sheffield announced a few years later that its overseas investments had failed, naturally no one would care about it anymore. Who says slave owners can’t fail in their investments?

"Don't talk about my business. You are the main direction. Who am I? I am just a loser who is watching his industry being swallowed up." When Sheffield said this, he pretended to squeeze out two crocodile tears, and his tone seemed to become depressed.

"I heard that you, William, invested in a film and television base in Los Angeles. Now it seems to be true." When little Morgan saw the disgusting scene in front of him, he even dodged back unconsciously. It was a purely instinctive reaction.

When it comes to mergers and acquisitions, it's not as easy as Sheffield thought. Although the Morgan family is an expert in the United States, mergers and acquisitions of this scale have never happened before. In the past, many operations under the name of mergers and acquisitions were actually unilateral annexations by the Morgan family. Of course, it can be simple and crude. What's yours is mine, and what's mine is still mine. What's so difficult about that?

Everyone knows that the shareholding system is not so easy to implement. It involves many issues in all aspects. Among all the issues, the two most important ones are the distribution of stocks and the ownership of the operating rights of the enterprise after the shareholding system.

The shares of the entire enterprise are divided into two types, namely, shares with management decision-making power and shares without management decision-making power but only dividend rights. Sheffield will also retain nearly half of the voting rights, which means that many aspects of the future United General Motors will have to be carefully designed. The more dispersed the equity, the more time and energy will be spent on the right to speak, which is foreseeable.

The fundamental reason why Morgan Jr. was willing to waste so much time and needed so much time was because this was a fair merger, not a takeover. There was also a share for the Rockefeller family, and it was three tigers dividing around a piece of meat. So how to divide it is a question that requires a lot of research.

"The reason why the equity is dispersed is that there are too many interested parties in your Morgan Alliance. But this is your own choice. If you don't do this, how can the Morgan Alliance system have the strength of billions of dollars to expand?" Sheffield pointed out the weakness of the Morgan Alliance, which is why young Morgan is also a ruthless character.

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If it had been an ordinary heir, the Morgan Alliance might have collapsed the moment old Morgan died.

It is normal to be cautious. For the three parties, this merger has amazing benefits. Sheffield is also counting on a large amount of cash in hand to continue expanding.

Sheffield showed great patience for Morgan's meticulous operation and was not in a hurry. Morgan himself was also grateful for this, saying, "William's patience can make him a successful banker."

"No, no, no, Morgan comes first!" Sheffield waved his hands repeatedly, indicating that he would not compete with the Morgan family in the banking industry, just like this time's railway bonds.

In the present United States, business matters, as long as they are decided by United Oil, Standard Oil and Morgan Bank, are basically a foregone conclusion, and everything now is just moving forward along the established route.

When an opportunity presented itself three times at once, Sheffield thought that if he remained indifferent, he would be struck by lightning. There was no doubt that he was such a person, so the slave owner took actual action.

Louisa Morgan turned her head with great effort. The movements of the man behind her and the feeling of fullness from below made the woman of the Morgan family realize that this was definitely not a dream. Under such circumstances, she was done to by a man she had only seen a few times.

"This is really a physically demanding job!" Sheffield said breathlessly, holding a cigarette in his mouth and pulling up his belt. "Why resist? The final result is the same, isn't it?"

"You're a criminal!" Louisa Morgan pulled up her trousers and said in an emotionless tone.

"Morgan first!" Sheffield answered fearlessly, pointing in the direction of the door, "You want to sue me? If the two of us go to court, it will bring great laughter to the citizens of the United States. I don't know if you have a problem with it, but I have no problem with it."

(End of this chapter)