Chapter 269: Soft and Hard
"You know, although our family is far more important in Standard Oil than the Morgan father and son in the Morgan system, there are seven other clients besides my father and my uncle's families. Even if I agree, how can I convince the other clients to agree to this split plan that is not in our favor?" Rockefeller Jr.'s attitude was very firm. Splitting Standard Oil was impossible.
Although Standard Oil's operating system was not as complicated as Morgan's system, it was by no means controlled by Rockefeller Jr. alone. Each of Standard Oil's dozens of important shareholders and seven other important principals was a businessman with strong power.
They also owned mines, railways, and factories, forming the giant multinational trust Standard Oil. The Rockefeller family directly controlled the Standard Oil empire, but they also had to seek support from other major shareholders.
Wouldn't it be a violation of their own interests to split Standard Oil? The fact that Rockefeller Jr. didn't drive Sheffield away on the spot showed that he valued the important position of the United Company. He even suspected that Sheffield was a partner and a senior prosecutor sent by the federal government.
"There is even a major shareholder who is engaged in agriculture and animal husbandry-related industries, and corn refining technology is his family's industry!" Rockefeller Jr. cited numerous examples and said in principle that Standard Oil could not be split up. None of the four major families, nine important clients, and dozens of major individual shareholders would agree.
"Someone else has extended his hand to corn processing? Let me think? Jess Pratt?" Sheffield quickly found the main suspect. In fact, the scope was not large, so he naturally found it after filtering it in his mind. "He is also the main partner of the canning trust."
"It's good for you to know. From the perspective of business standards, Sheffield United is also a situation where you are in me and I am in you, especially in agriculture and animal husbandry, which is the most difficult to monopolize. Just think about it and you will know that agriculture and animal husbandry cannot be monopolized at all. Without the cooperation of other families, how can such a difficult-to-monopolize market be controlled? In fact, United Company cannot really be said to have a monopoly in agriculture and animal husbandry. United Company is far from the Morgan father and son of the Morgan system." Rockefeller Jr. sighed, "You don't have to be troubled by the antitrust law for the time being, but the several industries you have recently run will also be targeted by the federation once they grow and develop."
"There are not many trusts like Standard Oil that control 90 percent of the oil industry. Antitrust laws have been causing trouble for Standard Oil. Don't you still feel wronged?" Sheffield looked as if he had absolutely no sympathy for him, but he was already alert in his heart. At least the automobile industry had not reached this point yet, otherwise it would probably have been targeted as well.
This is not a problem that Sheffield can solve with just one word. Just like what Rockefeller Jr. said, who is willing to do this? Especially when it involves several heavyweight families, dismantling their own businesses.
For a giant trust like Standard Oil, it is impossible to expect major shareholders to voluntarily split up the company. The company can only hold on until the last moment, even if the outcome is unknown.
This is not just greed, from another perspective it is also a kind of helplessness. Since the advent of the Antitrust Law, Standard Oil has always been the main target of the Antitrust Law. Standard Oil has also been constantly trying to find ways to fight the Antitrust Law. The time and energy wasted are unimaginable for ordinary people.
As far as Sheffield is concerned, antitrust laws have interfered with Standard Oil's run on the DuPont consortium and its layout on Carnegie Steel.
"Not everyone has the courage to cut off their wrist after being bitten by a poisonous snake. Of course, these things are easy to say." Sheffield also apologized for his messy advice.
"This is also my fault. Regarding the definition of the scope of monopoly, it can be said that Standard Oil has been involved in lawsuits with prosecutors in various states every year. Just a few days ago, I received a subpoena from Virginia. This has made me and major shareholders mentally exhausted. I don't know how long the various lawsuits will last." Rockefeller Jr. waved his hand, indicating that Sheffield was just talking casually and that he was too sensitive.
Deliberately forgetting his worries, Rockefeller Jr. asked Sheffield about the progress of the preparations at the United Company.
Sheffield knew that the other party was asking about taking over the Steel Kingdom, and he did not hide his recent series of arrangements, all of which were to raise money as soon as possible. This caused Rockefeller Jr. to sneer and say, "Look, this matter is obviously easy to solve, but you would rather rack your brains to raise money than distribute equity for financing, and then say in front of me that it is more beneficial to split the company!"
"That's different. My grandmother's farming and animal husbandry are the foundation of the joint company. You also said that it's not a monopoly at all. And my family is the spokesperson for the interests of farmers." Sheffield denied it flatly. "As for the other businesses I run, they are still in development and are not very big. How can they be called monopolies?"
Although he was in New York, Sheffield was still paying attention to the progress in New Orleans. To be honest, he felt that he was too kind. It was difficult to find a businessman as conscientious as him in this era. He was simply benefiting the society. Moreover, he had never thought of doing anything for a particular poor citizen. He always targeted the entire citizen class.
Because the more people are hurt, the easier it is to make a small profit but quick turnover, and the better it is to maintain dignity. It's not that Sheffield wants to make a small profit but quick turnover, but boiling the frog in warm water is more likely to achieve long-term stability.
The entire United States should be proud to have an entrepreneur like him. Compared with him now, other black-hearted capitalists should feel ashamed. There is no businessman more conscientious than him.
Now Gail and McHale say that things are not going well. The New Orleans state government feels that this matter is too risky and has doubts about such a large urban reconstruction plan. If it fails, the consequences will be disastrous.
"I'm in New York now and can't go back. Tell them both!" Sheffield said to Jesla, "United Company has not forgotten its hometown. This is the ethics of an entrepreneur, and this is also the common opinion of many companies. Just stay out of the way. Everyone knows that the entire New Orleans has been in decline for many years. Who supported it? It was our family, United Company, and the partners of United Company. Was it them who even closed the lottery? Whether it is the Democratic Party or the Republican Party, they should all be held responsible for the difficulties in New Orleans after the Civil War."
"Now I want to build my hometown. Not only does the state government not issue regulations to support it, but it also wants to make trouble? Do they know how much the United Company has contributed to the entire New Orleans?" Sheffield accused very impolitely. "The reconstruction plan has been prepared and must be implemented. I want to see who dares to object. Write down your name for me. A bunch of state government civil servants, do you really think you can lead the Senate and the House of Representatives?"
Clap! Rockefeller Jr. clapped and walked over, exclaiming, "Back then, the plantation owners in the South behaved in much the same way, right? But then again, your family has made New Orleans a smuggling center, so at least New Orleans is the absolute beneficiary. It's really a bit unreasonable to stop it at this time."
"What's the difference between this and eating with a bowl in hand and then cursing after putting it down?" Sheffield was equally furious. "I just don't believe this is so difficult. Standard Oil can even fight against antitrust laws, but I can't do anything in a city like New Orleans?"
"This is William's telegram. Oh, you're so rude! But this matter should be done quickly. Why is the state government like this now? We should talk to them." When Gail saw the telegram in McHale's hand, he knew that Sheffield was very angry about the obstruction, and his words were quite gloating.
"Send someone to bring their family to the manor. When they get off work, we will have a good talk with them." McHale received the telegram and shouted to the servants outside, "Go now!"
What if the original owner was out doing business, and finally contacted a business, but when he came back, they didn't even get a single proposal approved? Other issues aside, this involved many people's opinions of the two of them. The partners of the joint company were divided into two groups, and they were both the ones who returned from overseas.
Because of this, both of them attach great importance to other people's opinions. They know that not everyone expects them to come back. "Money, connections, children and hobbies, I don't believe that I can't deal with them. Isn't it easy to get a relative majority?"
Oak Manor was brightly lit for several days in a row, and different guests were received every day. If they were someone they didn't know, they would look for someone they knew, and if they were someone they knew, they would ask directly. In short, the proposal had to be passed when the real owner came back.
"What do the citizens have to disagree with? Will they object to their houses becoming bigger and more beautiful?" Gail asked calmly, and then changed the subject, "Even if some citizens are stupid, you as part of the state government can't think about it this way. They are citizens, so McHale and I, and all the people in the company are not citizens? Since we are also citizens, why don't you listen to us?"
"That's right. Actually, as long as you nod, who would know?" McHale held a cigar in his mouth with a rebellious look on his face. "This is a major project involving dozens of companies, and countless farmers are paying attention to it. Even William has gone to New York to find someone to help. If you don't cooperate, then we can sue. We will keep an eye on one person in each company and annoy you to death. Isn't that Sheriff Westin?"
"It's not that difficult, actually. We are all working for the development of New Orleans," Sheriff Westin said, trying to smooth things over. "But just like the two bosses said, the state government has no reason to block proposals that will make New Orleans a better place."
(End of this chapter)
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