Chapter 119: Using Gold Coins to Play Water (Second Update, Please Subscribe)
It will be too late if it’s too late!
In November 1861 in New York, on Wall Street, it seemed that all stock traders were saying this.
Someone is buying Atlantic Telegraph stock!
That's the worst of the worst stocks!
A share is not even a penny!
God can testify that it reached a sky-high price of two dollars back then!
But now...it's just garbage!
If it were not for the fact that it holds exclusive licenses from the British and American governments, it would have been delisted long ago.
"Sell it quickly, don't hesitate..."
Anyone who held Atlantic Telegraph Company stock would sell it without hesitation. Even stock holders as far away as London immediately sent their stocks by mail to New York for sale after learning the news.
God bless!
We must make sure that South American country bumpkin doesn’t find out that these stocks are garbage!
“They’ve bought up almost every stock on the market!”
Ketcham smiled at Morgan.
"It's now priced at 1.5 cents. If you sell it now, you can at least save $2,000..."
"Hey, two thousand dollars..."
Morgan's face turned a little ugly.
"I spent $50,000 back then, and invested a lot more this time...but in the end? It couldn't even be sold for $5,000."
Morgan said, albeit a little helplessly.
"Sell it while they're willing to buy it."
Finally, after selling all his stocks at a loss, Morgan felt a little relieved. Although he only sold hundreds of thousands of dollars of stocks in the end, he at least recovered some of his losses.
Otherwise, all these stocks would be wasted.
…
Standing in front of the hotel, Cyrus West Field even took a special look at his clothes. Fortunately, they were still neat.
He has been embroiled in lawsuits since the Atlantic cable broke and sank into the Atlantic Ocean, putting his company on the verge of bankruptcy. Faced with claims from creditors, he is almost on the verge of bankruptcy.
For this reason, when someone wanted to buy the company's shares he held, he made another requirement before accepting the other party's offer - he needed to meet with the acquirer.
In the hotel's cafe, after a brief exchange of politeness, Field went straight into the topic.
"Mr. Buffett, I heard that you have bought all the outstanding stocks in the market?"
"It is a notorious company to the whole world, and its stock is worth nothing, except for the so-called right to build the Atlantic cable."
“Yes, it has charters from both the British and American governments.”
Field nodded.
Of course, he didn't know that a few years later, when he regrouped and gathered investors to build another Atlantic cable, he spent a full three hundred thousand pounds to buy the rights from the company he once owned.
"If it's notorious, why did you buy it?"
Field asked curiously.
"Investment always requires taking risks. I think maybe we can try again. What do you think, Mr. Field?"
"You mean... you're going to reconnect that cable!"
Field was surprised.
"Sir, is this true? Are you really going to reconnect that cable?"
The reason why he was so excited was that the cable was directly related to his reputation.
In 1858, after the completion of the Atlantic cable, when New York received a telegram from the Queen of England, the whole of America cheered and he became a hero of the world. But soon, the Atlantic cable that carried honor and wealth became a joke - because its signal became weaker and weaker.
For this purpose, the "Investigation Committee" composed of seven scientists established in the UK later concluded that the huge impedance of the 3,200-kilometer submarine cable in the transmission of Morse code caused serious signal attenuation and delay. Therefore, the chief electronics expert Wheatstone decided to increase the voltage to more than 2,000 volts. As a result, the high voltage not only broke through the cable insulation, but also burned the cable.
After the Atlantic cable broke, it sank into the ocean.
Field was condemned by thousands of people, and the cheering wave attacked the innocent Field with the same force. Field was a liar, and he fabricated the telegram from the Queen of England. Everything was a show for his fame, and his team was all his stooges. The submarine cable that Field had laid with so much difficulty became scrap metal again, and he was also discredited. The project was forced to shelve, and even now he was on the verge of bankruptcy because of that cable.
"At least we can try. What if it succeeds?"
When saying this, Buffett felt mixed emotions.
God can testify that I definitely didn't want to try it. Is there anyone who would try it like that? It would cost hundreds of thousands of dollars, no, maybe hundreds of thousands of dollars!
After all, the cables still need to be reconnected.
God can testify that this money is definitely going to float on the water, or really float on the water. In fact, in the past few days, facing the shares of the acquired Atlantic Telegraph Company, Buffett seemed to see how he threw gold coins into the Atlantic Ocean one by one to float on the water.
This feeling is so exciting!
If it weren't for his unconditional trust in Steven, he would have probably returned to Nanhua long ago.
"Sir, if I'm not mistaken, you definitely don't want to acquire this company!"
From the change in Buffett's expression, Field guessed the truth.
“Can I meet with your employer?”
"Mr. Buffett, you should know that everyone in the United States and the United Kingdom thinks I am a liar. It's not just the Atlantic Cable Company that is notorious, but also me!"
Phil seemed a little excited.
"So when I heard there was someone willing to believe in me, I wanted to meet him."
Buffett said, facing Field's pleading eyes.
“But, he’s not in the United States!”
"But you will meet, Mr. Field. He has said that no one is more qualified than you to be the manager of the Atlantic Telegraph Company. Will you accept the offer?"
What?
Field opened his eyes wide in surprise, his look full of confusion, he was a "notorious" guy.
"Sir, you don't worry about my reputation. You know, the whole world thinks I'm a liar."
"He wants me to tell you - when the cable is reconnected and the telegram is sent again, that's when you can redeem your reputation, Mr. Field!"
Faced with this job, Field, who had been desperate for a long time, would never refuse it. Perhaps, he has not gone bankrupt yet, but he is still entangled in lawsuits. This job can at least give him a chance to restore his reputation.
"Sir, if you are not worried that I will bring bad influence to the company, then what should I worry about?"
"Very good. Now, the only question left is how long it will take you to salvage the cable and reconnect it!"
God can testify that Buffett was struggling inside when he said something against his will. After all, this issue involves real money!
"I need a boat, $100,000, and two months, sir!"
After thinking about it, Field said.
"If everything goes well, we may be able to reconnect the cable in about a month, but you have to understand that even if the cable is reconnected, its signal problem cannot be solved for the time being."
Just as Field showed a helpless expression on his face, Buffett said.
"That's not something you should consider. Now, the most important thing is to reconnect the cable! Money is not a problem!"
Money is definitely a problem!
Is it really exciting to throw so much money into the water and let it float?
It turned out to be very exciting. After sending a telegram to Zhu Xianhai full of complaints, Buffett suffered from insomnia. He found himself standing on the beach and throwing US gold coins into the sea.
Using gold coins to float on water...it hurts!
Especially when he wrote a check to Fielder, the pain in his heart was indescribable...
I have set up a book club: 335260551. Everyone is welcome to join and discuss and deduce the plot together.
(End of this chapter)
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