Chapter 237 Two-on-Two Game
"In fact, it is not appropriate to compete head-on with Morgan in financial strength, even if you win in the end. If you acquire the steel industry behind Morgan, it is equivalent to raising the price. The final result is unpredictable! Just like what William said."
Old Rockefeller was not as idle as his son. He did not mention his daughter's life from beginning to end. He analyzed the current situation in a matter-of-fact manner. "Morgan is definitely not just talking about rectifying the order. He really believes that he can do it. If we want to fight, our two companies had better act together. In fact, Standard Oil is too distracted. The biggest obstacle is the antitrust investigation team. Once Standard Oil and **** face each other, Standard Oil, as an industrial company, will suffer a lot. Citizens may not understand the stock market and don't know how far Morgan's tentacles are, but Standard Oil is here, and this is where we suffer a lot."
"William, you want nitric acid and a series of raw material markets. No problem. I can give them to you. Back then, I built seven factories in New Jersey, just north of DuPont. Each of them was large in scale. Once the machinery was updated, they could be put into production immediately. I can also give these seven factories to you for free." Old Rockefeller requested slowly, "But I hope you can promise me one thing. In the confrontation to prevent Morgan from merging the steel industry, United Oil must play a greater role than Standard Oil."
"Because although the United Company covers a wider range, it lacks depth. Currently, except for the gunpowder field that has touched the threshold of the antitrust law, there are competitors in many other industries. I have ignored the smuggling industry here!" Finally, old Rockefeller looked at Sheffield with expectation, "Can you agree to my request?"
"But the opponent is Morgan?" Sheffield looked at old Rockefeller with a lack of confidence. He really wanted the seven factories and the control of raw materials that the other party mentioned, but when he thought of Morgan's powerful strength, this piece of cake suddenly looked unappetizing.
"You forgot that there was a trust in the steel industry called Carnegie Steel. In fact, it was not difficult to stop Morgan. Both United and Standard Oil actually had their own steel mills. Together with Carnegie Steel, it was enough to make Morgan's so-called U.S. Steel's efforts to rectify the steel industry fail." Old Rockefeller answered, "In fact, the friction between me and Carnegie in the early years was exaggerated by many people. After all, I knew him in the early years, not like Morgan, who only met once in his life."
"You and Little John don't know that Scott and I competed in the oil field. In the end, I used my huge assets to bankrupt Scott. Carnegie was Scott's most important assistant at the time. The hatred that spread out started from that time, but I was actually feuding with Carnegie's friends, not him personally. We have developed in different fields for decades. Even if there is hatred, it should be forgotten. The relationship between Morgan and Carnegie is purely a competition with him. Morgan has been involved in the steel industry for several years, not just last year. Carnegie had long discovered Morgan's actions in the dark."
"They are in direct competition! I want to emphasize this point." Old Rockefeller paused and revealed a secret. "The most important thing is that Carnegie's most important assistant has a good relationship with me, and this assistant hates Morgan very much. As long as you take action at the right time, you can use the name of helping Carnegie to make Morgan's US Steel Company return empty-handed. As for why I know this, it is because Standard Oil also has companies secretly controlled in the steel industry. Let's put it this way, Carnegie is first, Morgan is second, and Standard Oil's steel company is third."
Sheffield nodded. He didn't know the fundamental reason why Rockefeller did not stop Morgan in history. In addition to the threat of antitrust laws, Morgan finally used the shares of the U.S. Steel Corporation to exchange for the iron ore that Rockefeller Jr. offered for $75 million. In the end, the Rockefeller family and Morgan did not confront each other head-on and jointly control the U.S. Steel Corporation.
"What about Sheffield Steel Company? How much can it queue?" Sheffield asked with great interest.
"About ten to twenty!" Little Rockefeller on the side thought for a moment and answered the question.
When Sheffield heard that he only needed to help Carnegie Steel Company at a critical moment, Morgan would not be able to swallow up the steel company? At the same time, he could also get the seven factories and chemical raw materials from Standard Oil. In the end, he shook his head and said, "But I don't have money!"
He remembered that Morgan finally offered a whopping $500 million, which forced Carnegie Steel, a major steel industry trust, to refuse. How could United have so much liquidity?
"As long as you are willing to come forward, we can jointly invest. As for the conditions, they are the same as we agreed before. Seven factories and a market for chemical raw materials. Just treat it as a gift to Edith for her second marriage."
As a father, Rockefeller Sr. was also a role model. When his daughter got married for the first time, he invested 30 million US dollars and bought shares of International Harvester Company as a gift to his daughter. This time, he bought seven more factories and raw material markets, which was no less than the last time. This was also a compensation for his daughter's unhappy marriage.
Who can bear this kind of money-throwing? As soon as Sheffield saw Edith Rockefeller coming down, his greed overcame everything. He gritted his teeth and said, "Okay, I agree to this request and will never let the U.S. Steel Company control the steel industry."
After continuous mergers and acquisitions and restructuring in the past year, the growth of U.S. Steel Corporation was extremely amazing. In fact, this steel giant formed by Morgan had become no less than Carnegie Steel Company. This was especially true after the acquisition of Roland Steel Company.
According to Morgan's original idea, as long as Rockefeller Jr. agreed to transfer the mine and the Rockefeller family was excluded, he could formally negotiate with Carnegie. However, he did not expect that Rockefeller Jr. was not blackmailing him this time, but really did not want to sell. After the discovery of the Texas oil field, Standard Oil suddenly paid more attention to the industrial and mining industries in its hands. Even if there might be no oil, it would be good to have other resources. Exploration teams of various minerals were exploring in its mines.
It can be said that the appearance of the Texas oil fields a few years earlier caused the Rockefeller family to re-evaluate its industries and also ruined Morgan's plans.
Also in New York, at the headquarters of ****, an ambitious Morgan stood by the window of his office, looking at the crowd below. This was his personal habit. He liked to stand at a good point and look at the tiny crowd below, which gave him a sense of accomplishment.
"Father, Mr. Eugene DuPont is here!" Little Morgan pushed the door open and spoke softly behind his father.
"Please invite our guests in. The DuPont Consortium is extremely important to our business." Old Morgan came back to his senses and said to his son, "You go and receive the other DuPont guests. I will have a good talk with the controller of this company."
After merging with Roland Steel, U.S. Steel's production capacity has accounted for more than 40% of the United States steel industry, and it can be said that it is slightly stronger than Carnegie Steel. What it lacks is the ability to integrate, and the new company may not be as well-known as Carnegie Steel in the eyes of citizens.
For this reason, Morgan even gave some shares to the DuPont family and completed the exchange of Roland Steel Company. Morgan also attached unprecedented importance to the DuPont consortium. After the Mexican debt problem was stolen last year, he knew that fighting alone could not solve all problems.
Although the Mexican government bonds were operated mainly by Rockefeller Jr., if it were not for the help of the United Company headquartered in Texas and the use of personal connections to help Rockefeller Jr. establish connections in Mexico, there would definitely be no time to react.
"Please take a seat, Mr. Eugene. You are the most distinguished guest here recently." When old Morgan saw Eugene du Pont coming in, his attitude was very polite. This was the ally he chose on his own initiative, the trump card he used to fight against Standard Oil and Union Oil.
"I can't say I'm noble. I'm a mediocre person. Under my management, the DuPont Consortium was overtaken by a latecomer in its best field for the first time in a hundred years!" Eugene DuPont smiled and touched his white hair. "Many people compare me with Henry. I know that."
Morgan was a little surprised. It seemed that Eugene DuPont was not a person without self-awareness. At least he had some judgment of the general trend, but he lacked the decisiveness to act. But this was his purpose. He continued, "Many people hate my involvement in the industrial field. Fortunately, Mr. Eugene did not show his disgust. Then I will speak frankly. Now it is a two-on-two game. The **** and DuPont consortium are on the other side, Standard Oil and Sheffield United Company."
"Although I have been developing in the industrial field, I have always lacked a reliable friend. I envy Rockefeller for this, because he can find one." Morgan sighed, but just pretended not to take it to heart. "Finally, I finally found one, Mr. Eugene. We can work together to restore order in the United States. With your help, I believe my path will be smooth."
"This is a two-on-two game, but DuPont is a little weak, and it's a bit difficult to face the United Company alone!" Eugene DuPont said truthfully, "We haven't grabbed a share of the war materials this time."
"If that's the problem, Mr. Eugene, you just need an opportunity. As far as I know, the British Empire is mobilizing a large army to fight in southern Africa." Morgan chuckled and said, "If we can intervene, the DuPont Consortium will be able to recover its strength quickly."
(End of this chapter)
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