Chapter 457: The People Have No Money
Arizona's copper production accounts for 70 percent of the United States's total, with hundreds of copper mines operating simultaneously in the state to supply the country's needs. Therefore, it is very reasonable and legitimate that this procedure takes a longer time.
Just the first copper mine that Jimmy led the trust company's appraisers to inspect had a total land area of 1,000 acres and was part of the Prescott Forest, including 40 mining rights. Because Arizona had just been established, there was not much private land, so it was naturally under the jurisdiction of the Land Management Bureau. The surrounding environment of this area did not affect mining. Jimmy said that there were many mining rights to be sold in the southeast, and the trust company could focus on the evaluation.
This main river in the mining area flows northeast through the eastern side of the Black Mountain near the mining area. The deep valley is cut off by the eastern wing of the Black Mountain, and the ore rock system is exposed on the steep slope and located in the riverbed. Except for the rainy season, only one intermittent stream passes through the stream canyon in the north of the mining area, and the flood season of other rivers is short.
Water is available from the Verde Canyon or from deep wells in the mine. Mining-related infrastructure is not yet in place, but Verde River Canyon residents have electricity service within a few miles of the mine, and high-voltage power lines are within a mile of the mine. There is also a gravel road in good condition. The mine has ample space to house processing equipment and waste storage at the gravel tank on the east side of the mine.
"This copper mine is one of the best in Arizona. It can provide thousands of tons of high-quality ore at the beginning. It is not an exaggeration to say that it is a gold mine." Jimmy calmly took the appraisers to walk around. "The ore body is part of the porphyry copper-molybdenum deposit. Prospecting shows that high-grade and high-economic-value minerals in the known porphyry system are located in the fracture zone. The breccia pipe is located on the soil surface, and there is another larger porphyry copper-molybdenum deposit deep under the ground. The copper content is 0.4%. I believe that the respected appraiser should have an idea of this."
Professional terms popped out of Jimmy's mouth one after another, confusing the appraiser of the trust company. Although I didn't understand it, I felt that it was very powerful.
At the same time, this mining area is also a companion mining area. In addition to producing copper ore, it also produces nickel and silver. In other words, in the eyes of Sheffield, the boss of the joint company, it is within the range that cannot be sold no matter what.
Sheffield had never intended to sell United Mining. Jimmy knew this very well. He understood that the boss would rather not make money than not keep the mine. So although he tried hard to explain things to the appraiser, he was actually just trying to delay time.
Thus, the first day passed as United Mining showed unprecedented sincerity and honesty in receiving the trust company's appraisers. The second day...
Little Rockefeller felt what it was like to have a very enthusiastic relative. Sheffield had been to Rockefeller Manor before, but never stayed as long as this time. It was not that the current head of Standard Oil was stingy, but the slave owner's style was too unique. He always took hundreds of people to run around. This expense was somewhat contrary to the Rockefeller family's frugal tradition. The landlord's family did not have any surplus food. He had just been fined 25 million by the federal government.
"Can your brother be any more shameless?" Sheffield crossed his legs and said without treating himself as an outsider. "In the face of the fine from the federal government, his attitude was very sincere, but he said that there is only one million US dollars in liquid funds in the company's account and he wants to pay in installments? I really only have one million US dollars. This liquid funds that can't even pay salaries are true, but you can't even afford my bodyguards?"
Edith Rockefeller's face was flushed, not because of the domestic violence in Sheffield that made her heartbroken. The slave owner spoke in a joking tone. Mainly, every word the man said was true. The Rockefeller family did accept the penalty, but there was indeed only one million US dollars in the company's accounts, and the Ministry of Justice was always welcome to check.
This kind of public announcement couldn't even fool shareholders. It was completely treating the Ministry of Justice as fools. How could Sheffield believe it? He could only hesitate and say, "How can you say that?"
"Then what should I say? I said I believe Standard Oil's capital is only one million?" Sheffield smiled bitterly, covering his face. "Or you should say you shouldn't stay in Arlington all the time, you should go out and see more of the world. I gain something new every time I go out. This time I gained a lot, but I don't have any money. This is a real tycoon."
"I'll strangle you!" Edith Rockefeller rushed over, her hands still intact, and her huge buttocks sat directly on Sheffield. Humph! Sheffield's entire body turned into a V shape, and his face was full of pain.
At night, under the careful care of Edith Rockefeller, the slave owner who had successfully carried the heavy load forward breathed a sigh of relief, knowing that everything was finally fine and all of his functions were intact.
"You didn't stay in New York for long before, so this time is a bit abnormal." Edith Rockefeller wiped her body, and after she was done, she got back into bed, expressing satisfaction and apology.
"It's more convenient here, and I can receive a lot of information directly. It won't be too late to leave after I confirm one thing." Sheffield answered vaguely. After all, New York is the financial center of the United States. After he really started to care about the financial industry, he found that many things that seemed fine before were now quite suspicious.
Since the San Francisco earthquake, the entire stock market has been full of uncertainty, and its ability to recover has been very weak. In other words, the securities sector represented by the stock market is now short of money. Many people on Wall Street believe that at least two or three hundred million yuan of funds are needed to increase liquidity. However, the United States does not have a central bank, and the banking system is managed by each department. Therefore, the Treasury Department has always been cautious about the issuance of national debt, which is equivalent to the state taking on debt to support private enterprises. This decision is not easy to make, not to mention that now Roosevelt's antitrust law has been combined to make citizens have a bad impression of trusts.
In fact, the current predicament cannot be entirely attributed to private institutions. The federal government has somewhat deliberately led citizens to be hostile to trusts, but the stock market is dominated by these trusts and the rate of return is higher than that of government bonds.
The interest rates offered by financial institutions for financing are generally higher than those of the federal government's bonds. Trust and investment companies enjoy many businesses that banks cannot operate, and government supervision is very lax. All of this has led to trust and investment companies excessively absorbing social funds and investing in high-risk industries and stock markets.
Whether there is still money in the private sector can be known only by the successful issuance of New York government bonds. However, the first piece of news Sheffield heard had nothing to do with government bonds, but from Rockefeller Jr. that Morgan himself had set off to travel to Europe.
"Does Morgan himself like traveling to Europe?" Sheffield asked in return after listening to Rockefeller Jr.'s words.
"It's a habit that has only developed in the past two years. When Morgan went out traveling, Morgan Jr. took over the banking industry!" Rockefeller Jr. replied. He didn't know why Sheffield asked such a question. Wasn't he going out traveling too?
"Nothing, just asking casually!" Sheffield pretended to be extremely bored and said this, because he knew that the financial crisis was coming, and now he knew that the most powerful banker in the country was traveling abroad, which was a very suspicious thing.
Sheffield still remembers that when Carnegie was suppressing the workers' strike, he happened to be in Europe, creating the illusion that he was not there, letting the managers suppress it. In the past few years, the slave owner himself would hide abroad to remotely control any operation he thought of. He often did this himself. Now that the financial industry is in such a state, the biggest banker is traveling abroad?
Sheffield stood up calmly, saying that he wanted to walk around the manor, but he found an opportunity to call Arlington. It was his wife Anne who answered the phone. The slave owner was not polite to his wife, so he said directly, "Morgan himself took people to travel in Europe. He should be in one of the countries of Britain and France. If he is in France, let the old man think of a way to make trouble for him. It would be best if he stayed in the police station for a few days."
In fact, Sheffield wanted to get rid of Morgan once and for all, but he suppressed this idea. First of all, it would be very risky to get rid of Morgan directly. Once the news leaked, the joint company would be attacked by everyone, which would violate the unspoken rules. The DuPont Consortium was fierce enough, but it had never been fierce to other large companies. It just ignored some small growing companies.
Some methods cannot be used on the upper class. There is another reason. If Morgan dies unexpectedly but no one can find out, his death or life will have no impact on the current situation, because Morgan Jr. is still in New York. If he is a heartless person, once Morgan dies, Morgan Jr. will not need the old man's guidance and can directly decide how to solve the current situation.
Morgan was fine in Europe, but he couldn't get in touch with little Morgan, which was what worried little Morgan the most. With such an emperor, little Morgan was just a puppet emperor, and there would definitely be chaos for a while.
"I'll contact my mother right away!" Anne agreed immediately upon hearing this, and also decided to find trouble for Morgan within the rules and never use extreme means.
Sheffield whistled after hanging up the phone. Want to create an alibi? It would be better if he really wasn't there.
The New York stock market is still in a dangerous balance, rising and falling. Although the slave owners cannot understand the recent ups and downs, they feel that there is something wrong. It is almost like the stock market of the Republic, which has been frozen at 3,000 points for ten thousand years, which is very rare for a country like the United States.
New York government bonds were still being issued day by day, which once again attracted the attention of Sheffield, a new stock market novice. A month later, all the results were revealed. The New York government failed to issue bonds. The $29 million bonds only received $2.1 million in subscriptions, which showed that the people had no money.
(End of this chapter)
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