Chapter 295 Starting Line and Finish Line
This attitude of being ready to throw money at her at any time caught the fiancé who was just showing off his knowledge off guard, and he quickly said, "As far as I know, Rockefeller Jr. is already married, and his ally is also engaged."
That's such a pity! The woman's eager eyes flashed with a trace of regret. It was a pity that there was no chance. She glanced at her fiancé, who was also a very good man, with a wealthy family and a handsome appearance. Unfortunately, he could not compare with those two brilliant young men.
"From today on, 60% of Carnegie Steel's shares have changed hands. Carnegie retains 10% of the shares. Together with the shares sold by other shareholders, you and I will merge the original steel mill into Carnegie Steel and dilute the proportions of other shareholders. This steel kingdom will belong to you and me." Rockefeller Jr. and Sheffield whispered to each other, "After this round of mergers and acquisitions, we will only have one competitor in the steel industry, Morgan Alliance's U.S. Steel Company, with a market share comparable to ours..."
"We are evenly matched now, but you have the cheapest raw material source, and I have the project that needs the raw materials the most. You are at the starting line, and I am at the finish line. We have the final say on this steel track!" Sheffield said slowly, "This money is worth spending, right?"
In general, the Panama Canal is less important than the Suez Canal, but it is also a goose that lays golden eggs. The construction of the Panama Canal is much more labor intensive than the Suez Canal, with a total length of 82 kilometers and a maximum width of 300 meters. Moreover, there are mountains around the Panama Canal, while there are sand on both sides of the Suez Canal, so the difficulty is not at the same level.
For such a large project, the amount of engineering machinery, steel and cement required is astronomical, so the production capacity problem of Carnegie Steel Company is not a big problem, and Sheffield can solve it.
But even so, Sheffield still thinks that this merger involving $300 million makes his heart bleed. For others, it is almost like lying on a mountain of gold and preparing to live a good life. For Sheffield, there is plenty of gold mountain, but what is lacking is a shovel. The cash flow is the shovel, and he can dig as much as he wants as long as he has money.
"If you hadn't delayed it for nearly a year, where would I have found so much money?" Sheffield sighed and said in a difficult manner, "Now I have to give Edith a discount on the shares. I can't let her take the money for nothing."
"You actually took money from Edith?" If there weren't so many people watching, Rockefeller Jr. would have wanted to punch this bastard twice. He even took money from a woman?
"Don't be angry, she volunteered!" Sheffield glanced at Rockefeller Jr. and shrugged indifferently, "After all, it is the steel tycoon's industry, and it will also provide a guarantee for her future life. Ordinary citizens accumulate wealth bit by bit, but we are different. We need to find ways to make money from money."
She doesn't think there is anything wrong with being a gigolo, and she even feels justified in doing so. If young Rockefeller is not satisfied, he can find a female billionaire to be her geriatric cousin. It's a pity that after traveling all over the United States, she can't find another father-in-law who treats his daughter as well as old Rockefeller.
As for another question, the citizens of the United States also have a tradition of saving in this era. In fact, the citizens of the United States are more frugal than many European countries. This tradition of saving can last for 70 to 80 years. The turning point was when Reagan came to power and prepared to take a big move to deal with the Soviet Union. He adjusted a series of foreign policies, which brought huge debts and a sharp decline in private savings. Fortunately, the Soviet Union did not withstand this big move, otherwise it would have been difficult...
The steel tycoon, who was already in his sixties, had no idea that his two younger generations were discussing the issue of inheriting the inheritance. Carnegie definitely made a profit from this merger and acquisition business, cashing out $300 million. His personal wealth suddenly surpassed that of old Rockefeller, making him the new richest man in the United States.
But from another perspective, Standard Oil and Union Company also made profits. Carnegie cashed out a satisfactory amount of wealth and retained a small but sufficient number of shares. Sheffield and Rockefeller Jr. obtained long-term income. Just as Rockefeller Jr. said, as long as the industry is here, it will continue to create profits.
"Today I can say without hesitation that my life's hard work has fallen into the hands of two younger generations who are stronger and more enterprising. They have a stronger fighting spirit. I believe that the progress of Carnegie Steel will never stop, and will even get faster and faster!" Carnegie was still giving an inspiring speech. Following his finger, the people present looked at the two young men sitting side by side. "Two energetic bosses, don't you want to say something to your shareholders?"
Carnegie's words caught the two men off guard. Facing the gazes of a large group of people, Rockefeller Jr. stood up first and talked about the future plans for Carnegie Steel Company, reducing costs and creating greater profits. The Messerby Mine and the inland transport ship business in the Great Lakes region will also be incorporated into the business of this steel kingdom.
The Messerbie Mine is currently the richest mine with the lowest mining difficulty. The transportation of minerals in the Great Lakes region is also in the hands of the Rockefeller family. It can be said that once it is incorporated into the business of Carnegie Steel Company, considerable profits will be generated.
It was Sheffield's turn to come up. Facing the surprised crowd, he held his head high with the aura of a slave owner and said loudly, "The Panama Canal project requires a large amount of steel, enough to eat up the excess share of Carnegie Steel. Before the United Company took over the canal, the French Canal Management Company had completed one-third of the project. Now all the United Company has to do is to complete the remaining two-thirds. Carnegie Steel's production capacity is not high, but low. Many countries need the entry of steel. It must be pointed out that the United Company and Standard Oil are the pioneers of all companies in the United States in internationalization. Although there are insignificant difficulties ahead, the United Company and its powerful allies will surely be able to overcome all difficulties together."
"The Panama Canal project can be regarded as the project of the century that officially marks the arrival of the American century. Not only the private sector, but also the federal government and the entire world are paying attention to this project. The participation of Carnegie Steel will enable the project to be completed earlier." Sheffield said word by word, "The new Carnegie Steel will defeat all opponents, not only in the United States, but also in the world."
Just like the conversation between the two just now, Rockefeller Jr. stated that Carnegie Steel Company had already won at the starting line, and Sheffield added that it was not just a matter of the starting line, but even the finish line had been predetermined.
The two people's statements sparked a heated discussion. Even the woman who had just wanted to pay for the deal asked anxiously, "We should buy Carnegie Steel's stock quickly. It will be too late if we are late."
At the end of 1900, in Pittsburgh, the steel capital of the United States, Rockefeller Jr., representing Standard Oil, and Sheffield, representing United Oil, signed a merger contract with steel tycoon Carnegie, jointly investing $300 million to purchase a total of 60 percent of the shares of Carnegie and other shareholders.
When signing, Rockefeller Jr. saw Sheffield signed Edith Rockefeller's name, and his expression was disgusted. Has it come to this? At least the boss of Standard Oil can now be sure of one thing: without 30 million US dollars, this couple can't be separated.
What are you looking at? I'm your brother-in-law! Sheffield was thick-skinned and had already noticed Rockefeller Jr.'s constipated expression. He pretended to be ignorant and signed the documents line by line, ignoring everything.
After the merger, the new company was named Carnegie Standard Union Steel Company, emphasizing the fact that there were two new entrants into the steel industry, and it was decided that it would go public within three months.
This would drop a bomb on the stock market. After the contract was signed, Sheffield met with the new richest man in the United States, Andrew Carnegie, and asked the doubts in his heart, "In fact, I think that after the communication that day, you should be dissatisfied with our side and be more inclined to Morgan and his son. Could it be that my blunt threat worked? If Mr. Carnegie answered like this, even I would not believe it."
"Why not? Your threats really worked." Carnegie blinked mischievously, regained his serious look, and confessed, "I sold the steel company partly because of the continuous death of relatives. The only daughter left is all I care about. I am also over 60 years old and cannot protect her for long. You and John are both in their twenties and can complete this job for me. Do you still count?"
Sheffield was confused. Why did he treat a relative like this? Why did he attack the workers when they were on strike? Anyway, if someone threatened Sheffield with a relative, he would definitely not give in, unless he was kidnapped.
After a pause, he agreed, "As long as the United Company is still in existence, anyone who dares to harm your daughter and her descendants will be the enemy of the entire Black Gold Company, even if they run to Antarctica."
"Remember your words!" Carnegie stretched out his finger and tapped Sheffield's chest, as if letting go of everything and said, "At my age, there is nothing I can't give up. Now I can use this money to do something beneficial to society."
Sheffield actually made a malicious guess that the great change in Carnegie's later years was actually related to the lack of a male heir. However, no matter what the reason was, the experience of the steel king has become history, and Carnegie will appear in the future as a great philanthropist.
(End of this chapter)
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