America 1919-Chapter 837 - 286, The Ninth Conglomerate_3

Chapter 837: 286, The Ninth Conglomerate_3

This is most important, as Donnie said, the United States is big, the world is even bigger!

The wealth outside is enough to smooth over the impact brought by their internal competition.

Now that Old Rockefeller has agreed to join the Tarot Society, they are definitely going to make a trip to Washington, and the acquisition of Kuhn, Loeb & Co. consortium requires Andrew Mellon’s involvement!

With Andrew Mellon joining, although it will reduce everyone’s individual profits, the resistance encountered in acquiring the Kuhn, Loeb & Co. consortium will also be greatly decreased!

Junior Rockefeller did not accompany them to Washington, so Donnie hosted Old Rockefeller’s initiation ceremony at Block Manor!

Old Rockefeller formally became a level 13 member of the Tarot Society!

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In the manor’s most secret meeting room, with 13 chairs placed around a round conference table, it was destined that the Tarot Society’s level 13 members could only be thirteen.

However, it does not mean that the Tarot Society must have thirteen level 13 members, quality over quantity!

Currently, the level 13 members of the Tarot Society are six individuals: Donnie, Jack Morgan, Old Rockefeller, Andrew Mellon, Coolidge, and General Pan Xing.

However, next on the agenda was the discussion regarding the division of Kuhn, Loeb & Co. consortium, so after completing the initiation ceremony for Old Rockefeller, Coolidge and General Pan Xing left.

Now, only four people were seated: Donnie, Jack Morgan, Old Rockefeller, and Andrew Mellon!

After hearing Donnie’s introduction about the acquisition of Kuhn, Loeb & Co. consortium, Andrew Mellon had no objections and was even somewhat excited.

The prospect of acquiring one of America’s eight largest consortiums would excite anyone!

Jack Morgan spoke first: “Morgan needs Kuhn, Loeb & Co.’s General Motors, Pennsylvania Railroad Company, Southern Pacific Railroad Company, and Bethlehem Steel Corporation.”

In the acquisition of Kuhn, Loeb & Co., Morgan played a major role and naturally required a larger share.

Donnie stated: “Venus requires Kuhn, Loeb & Co.’s Westinghouse Electric Corporation and also to obtain investment business from Kuhn, Loeb & Co.”

With KDKA under Westinghouse Electric Corporation already now the second largest broadcasting company in the United States, if Donnie can acquire Westinghouse Electric Corporation, then ABC will continue to consolidate its position in the American broadcasting industry.

Additionally, with the dawn of the electrical era, many of Westinghouse Electric Corporation’s businesses could bring considerable benefits to Donnie!

Old Rockefeller decided to take on Kuhn, Loeb & Co.’s remaining three railway companies.

As for Andrew Mellon, he represented the Mellon Consortium and took Kennecott Copper Corporation from Kuhn, Loeb & Co.

Then the four determined the amount of investment each needed to contribute based on this distribution, something Donnie had already mentioned, definitely not something that could be completed in a short time.

Therefore, in the early stages, not much capital was needed, so even after preparing 130 million US Dollars, Donnie could still provide the necessary funds for the endeavor!

“The first step to make this succeed is to sever the relationship between Kuhn, Loeb & Co. and the White House, Congress, and the State Government!”

After discussing the necessary funds, Jack Morgan revealed his thoughts.

Everyone agreed with Jack Morgan’s proposition, as Jacob Schiff had very close ties with the White House, Congress, and State Governments.

The success of Woodrow Wilson in running for President of the United States was due to the financial support from Jacob Schiff.

In Congress, there were also several congressmen close to Jacob Schiff!

At the level of Kuhn, Loeb & Co., their acquisition was no longer a simple business action; political implications had to be considered.

“I’ll take care of things on the White House side!” Andrew Mellon said first; his position as Treasurer made it possible for him to handle this task with ease!

After Jack Morgan and Old Rockefeller exchanged looks, Old Rockefeller responded: “We’ll take care of affairs with Congress!”

Although the White House seemed to have more power than Congress, with two major parties and numerous congressmen, power in Congress was more dispersed and thus, actually more difficult to manage.

That’s why Old Rockefeller and Jack Morgan decided to join forces.

“In that case, I’ll take care of matters in Pennsylvania and New York State!”

Donnie said calmly.

Andrew Mellon, Jack Morgan, and Old Rockefeller looked somewhat puzzled at Donnie. Although the New Jersey Consortium had now been established as the ninth largest consortium in the United States,

Donnie’s influence still fell short when compared with these three, especially outside of New Jersey.

Donnie said with an easy smile: “Gentlemen, have you forgotten about my bootlegging business?”

Donnie’s bootlegging business was nationwide, connected with every state; while it seemed that Donnie’s influence in Pennsylvania and New York was not as great as that of Kuhn, Loeb & Co.,

this was not an inoperable situation!

Hearing this, the other three didn’t have much else to say.

After discussing this matter, the four began to negotiate details regarding the acquisition of Kuhn, Loeb & Co.

Obviously, this was a very large issue, so the four discussed for a full week before coming to a rough conclusion.

Afterward, Donnie, Jack Morgan, and Old Rockefeller set out for New York.

Upon returning to New York, Donnie first met Walker, conveying Old Rockefeller’s thoughts to him.

“I am merely a mediator in this; you don’t have to worry too much about our relationship. Just do what you think is best!” Donnie stressed to Walker.

Walker nodded seriously. This matter was not trivial; although the Astor Family’s shares in Citibank were dwindling, the bank’s growth was still solid, simply holding these shares could lead to an appreciation in value!

Therefore, Walker said he would take it seriously and consider it. Subsequently, Donnie introduced Walker to Old Rockefeller, and they would negotiate this matter between themselves; Donnie thus no longer participated.