Chapter 559: Running tide

"If people generally expect the market to collapse, then the collapse will not occur. Self-protection awareness will infiltrate the market, thereby making the stock market more rational." This day appeared in the "Business Finance Chronicle" article.
If the slave owners saw it, they would definitely say that the soul chicken soup on Wall Street is not as good as it is, which is not as good as the level of the circle of friends. On this day, the United Company officially announced that the acquisition plans of its joint mining and Nick Burke Trust and Investment Company collapsed, and the news immediately reached the New York Stock Exchange at a very rapid rate.
Many well-informed people know that the speculative activities of Nick Burke Trust and Investment Company and Heinze and Morse behind the attempt to short copper stocks have failed. In a flash, these people will sell the joint copper mine stocks in their hands. Many people know Once more people know, no one will take over.
On the exchange, countless investors have swarmed in, seeing the stock of United Copper Mine falling at a rate that is visible to the naked eye. In the two-hour selling frenzy, the stock of United Copper Mine dropped from a high of $ 60 to just $ 10, and fell to one-sixth of the previous day. Fell.
After two hours, the shares of United Copper Mine have actually entered the state of bankruptcy and liquidation. Even if it remained in the stock market, Blair kept staring at the stock market and immediately called the Edith Rockefeller villa. "Nick Burke Trust and Investment Company is in big trouble."
"Weak meat, strong food, survival of the fittest, how reasonable the theory of evolution is." Sheffield had no pity in his mouth. In the eyes of his slave owner, all people are equal, but blacks are more likely to be regarded as punching bags. But don't think that white people will have any privileges. It is not ambiguous when it comes time to start.
"The New York Daily News can play a role in panic. It's not Pritzer's New York Times. Make no mistake." The New York Daily News is a newspaper that Sheffield bought from Hurst. Now Sheffield asks Blair to appear in this newspaper Work hard.
"I see." Blair's mouth implied excitement, and there were so many available methods.
After the phone hung up, Edith Rockefeller sighed softly, "I don't know how many people can't stand the blow and jump off the building."
"Weak flesh and strong food, the fittest survive. Their tragedy can be used as an embellishment of our success." Sheffield ridiculed without panic, "Can't stand the blow and jumped from the building, indicating that this person has psychological problems, not a qualified person Just go to death, but out of goodwill, I can buy a park in New York for the purpose later, what about Hyde Cemetery? As for the rest, do n’t expect too much in my hands. "
There are tragedies happening in this world all the time. This has nothing to do with Sheffield. It ’s just that this crisis has a little relationship with yourself. It ’s still passive. If it ’s not Nick Burke Trust and Investment Company, it will come to you. Come, he is just a spectator waiting to bargain.
The mistakes are the faults of the two big speculators of Nick Burke Trust and Investment Corporation and Heinze and Morse. Sheffield himself is also a victim. Union Bank has been a vulnerable group for so long. Who has the slave owners sought to complain? If it wasn't greed among citizens, if they didn't store their money in Union Bank, how could it be affected this time?
"You, the Dixie, seem to be prevalent in social Darwinian thinking now." Seeing Sheffield like this, Edith Rockefeller knew that this man had no sympathy, and he shouldn't have been there.
Because the share price of United Copper Mine plummeted, it went into bankruptcy within two hours, and even with the shock of the New York stock market, the solidified stock market that seemed to be standing still finally boiled. Heinze and Morse controlled the boards of many small banks, stockbrokers, and trust companies in New York, and used them to provide financial support for this copper stock short-selling event, which led to the above-mentioned institutions being bruised after the short-selling speculation failed.
The main problem this time is not the stock market. Of course, the stock market will also be hit hard, but compared with the problems of the banking industry, the stock market is really a small problem.
Heinze and Morse also realized for the first time that the situation was serious. Why the good negotiations could not continue, this question is of course also important, but compared with the stock market plummeting, all the funds raised for the joint copper mine have evaporated. It's a small problem.
The many banks and trust companies controlled by the two are in a very dangerous state. As soon as the first one is dropped, the domino effect will appear, causing depositors to panic and bankrupt all the banks that have saved money.
"The two upstarts really thought they could control everything." Standard Oil's headquarters in New York, Rockefeller Jr. said dismissively, "Let these two repay, otherwise, our slave owners might I will take a quick step! "
"Got it, boss!" The manager who was waiting for the order immediately said, and hurried out of the office.
Rockefeller Jr. must remind two speculators that the real giant will not tolerate these two upstarts.
Newspapers questioned the financial situation of United Copper, banks began to urge Heinz to repay, in addition, thousands of United Copper stocks began to sell in the market, the street was in chaos.
About Nick Burke Trust and Investment Company is the lead behind the United Copper Mine, which has been circulated in a small area. It is the New York Daily News that really confirmed the news the next day. The New York Daily News shook the boss behind the United Copper Mine .
The so-called use of economic means alone is not feasible. The implication is naturally to use other means. Generally speaking, there are just a few of them. The most common one is public opinion. Generally speaking, the common people are always easy to cheat, because once they have limited education, they are confused; second, economic activities are becoming more and more complicated, and the adjustments inside are not understood by professionals. . So I only need to find a good angle to get in, grasp a certain issue that everyone cares about, and then think deeply about the literature and art, and often a lot of people can be fooled. Sometimes, even rumors are very common methods.
What's more, this is not a rumor at all. The New York Daily News is originally the truth. The owner of this newspaper wants to personally burst the bubble, as an excellent employee, and create an image of standing with the citizens. What does the New York Daily dare not do?
The depositors who were successfully incited to panic lined up at the door of Nick Burke Trust & Investment. When investors and depositors learned that many banks and trust companies were involved in this speculative activity and suffered heavy losses, they ran out of deposits. At the time, New York ’s third largest trust company, Nick Burke Trust, was the first to be run by depositors.
Since the stock plunge of United Copper Mine began, it was only a short two days. Looking at the long line, Mike standing by the window was at a loss. No one knew his company ’s situation better than him, which meant that the depositors Withdrawals are quickly exceeding the bank's reserves. Nick Burke Trust ’s cash balance is only 1.7 million US dollars, which is equivalent to 15% of the total deposits, which is far below the level required by banking regulations and the New York Clearing Center.
Another day passed, and the long line continued, on the third day ...
What is even more worrying is that in the past three days, the total borrowing margin of the commercial national bank in the clearing center has reached as high as US $ 2.4 million, which is one-fifth of the total deposit. It is estimated that at this rate, within ten days, the bank's deposits will be exhausted. Other banks associated with commercial national banks have shown even worse reserves, with reserves equivalent to 5% of total deposits.
Heinze, Morse, and Mike borrowed cash at 150% interest, but they still couldn't resist the huge long line of depositors. For this reason, Heinze had to take the initiative to show that Nick There is no problem with the cash flow of the Gram Trust Company, but at this time, no one has believed the banker.
The run quickly spread throughout New York like a virus, and panic-stricken citizens waited in line at the door of various trust companies to wait overnight to withdraw their deposits. Banks demanded that trust companies repay their loans immediately. Trust companies that were urged on both sides had to borrow money from the stock market. It was no longer a matter of Nick Burke Trust Company for three days.
All trust companies have depositors who come over to withdraw money. This is the scene in front of all trust companies in New York, which will only cause greater panic. Bank stocks have fallen to the bottom, but with the crowd of people running in front of them. Compared to stocks, it ’s not important anymore. The number looks good, after all, it is a number, and now savers need cash.
Senior rumors Sheffield can only know the situation in New York by phone, he wants to see for himself. The Chicago Daily Times once again proved that the slave owner invested in the media and even killed Hirst, even if the other party is also a Democratic Party. This is quite correct. Albert once again became a pioneer.
In a neutral and objective tone, he reported in detail the run-up trend in New York and the bad situation of more banks and trust companies. The first day of Chicago was very calm. The next morning, like the citizens of the New York metropolis, countless The depositors came out of their homes and took deposit certificates to withdraw money. Chicago was in New York and followed into a run of money.
A cent is worthless to the banker. Now citizens only want to get their money back, but they do n’t know their behavior. They will only make the bank close faster. At the door of Chicago United Bank, local bank employees are very Wondering, is it because your bank is not shameless enough, so it is incompatible with other banks?