Chapter 462: Wall Street Civil War

To be fair, the two's accusations are very correct. Nick Burke Trust and Investment Company is definitely a rising star among New York's financial institutions. It was just established ten years ago and became one of the three major trust companies in the United States in ten years. The rapid development has surpassed many predecessors. The company's history is a typical representative of the American dream.
However, for many Wall Street bankers, Nick Burke Trust & Investment is also a complete upstart. It is indeed not an elite group on Wall Street. Shorting copper prices has been acquiesced or even supported by many people. At this time, the support for Nick Burke Trust and Investment Company is being cut off, just to kill these two upstarts.
Under the control of the interested person, the run has appeared in the banks of Morse. The banks controlled by Heinze and Morse are the supporters behind Nick Burke Trust and Investment Company.
In the actions of Wall Street to wipe out the upstarts, the New York Clearing Center bears the brunt. While the depositors flocked into the run, they began to check Heinze and Morse, and they did everything they could to make things clear. The clearing house ordered that Augustus Heinz and Charles Morse immediately withdraw from all financial institutions in New York City. This action came quickly and thoroughly. Morse resigned from his position as vice president and director of National Bank of North America, as well as his two positions at New Amsterdam Bank, Garfield National Bank, Fourteenth Street Bank, New York Product Exchange Bank, and his hometown of Bath, Maine. All positions in financial institutions.
Heinz, who also resigned, was also removed from at least eight banks and two trust companies. The committee also emphasized that Morse and Heinz must repay their loans to their respective banks, and further stipulated that any banks and bankers involved in the "chain bank" business will be delisted from the New York Clearing Center.
"Blair, this is just the beginning." Sheffield's voice came from the microphone and into Blair's ear. "Can I understand that everything is now a civil war on Wall Street? Wall Street bankers, to the new Are rising financial institutions suppressing? "
Blair calmed down and replied with a bitter smile, "If I had to say that, I can only say the boss is right. It can be considered that it is for Heinze and Morse. According to the information I have collected now, the two The situation of the controlled bank is even worse than Nick Burke Trust and Investment Company, and the New York Clearing Center has accurately found the target person. "
"That is to say, the situation of these two speculators is not as good as the Nick Burke Trust and Investment Company that they support financing? This is quite unexpected!" Sheffield whistled easily, and said, "It's just a matter of time. Question, just for a few days. "
After listening to his boss, Blair thought for a moment and said, "Boss, if we start negotiations on the acquisition of Nick Burke Trust and Investment Company at this time, we will be able to change hands and make money."
"Still admitting a bunch of junk debts of Nick Burke Trust and Investment?" Sheffield asked with a smile. "Yes, in the current situation of Nick Burke Trust and Investment, if I make an acquisition, even if I admit those junk debts, maybe It ’s still profitable. A trust company of this size fell into my hands out of thin air, and I did n’t pay anything. Even the copper mine sold to Nick Burke Trust & Investment Company was enough to buy it. It ’s me. Save it with its money, but what? Things are not over yet, I think there is a better chance. "
"As a comprehensive large enterprise, the banking system is a must, but the industry of the joint company is really important. The financial institution can only serve as a vibrator, the industry is the bone, and the financial institution is the flesh. The pile of rotten meat can't hold up! "Sheffield's slow voice came from the phone." Only Nick Burke Trust and Investment is squeezed out, you can see how big things can happen this time. "
The current situation of Nick Burke Trust and Investment Company can be said to be dead. As far as Blair is concerned, Sheffield concluded that the New York Clearing Center was the tool used to combat Heinzer and Morse.
The New York Clearing Center treats the National Bank and the trust company differently, giving assistance to the former, while bailing out the latter is passive neglect. For example, when the New York National Commercial Bank encountered a run-off and asked the clearing house for help, the clearing house took timely action to check the bank ’s accounts and replace the management. Later, when the National Commercial Bank was unable to cope with the run, it was closed and the clearing house paid its depositors funds equivalent to the nominal value.
This protects the National Commercial Bank from bankruptcy under the run, and effectively prevents the crisis from spreading among other banks. The subsequent panic did not expand significantly. The New York Clearing House did not provide assistance to trust companies that were also run by depositors.
It seems okay, but it did not help the National Bank in the hands of Heinze and Morse, and the Nick Burke Trust and Investment Company, which they supported, was in a better situation. The New York Clearinghouse treats Heinze as a financial power in the opposite way to other trust companies and banks.
You must know that banks are members of the New York Clearing Center, and trust companies are not.
It ’s not too obvious to double sign. For this Wall Street civil war, people bite their dogs. Although the slave owners have been used to a certain extent in the copper mines, the adults do n’t remember the villains, and they do nothing. The move is very understandable, see if both sides have played cards, if not, how long can they play, and it is not time to come forward.
And under the eyelids is busy enough, Chicago also has a clearing center, Chicago is the transportation hub of the United States and an important industrial city. The clearing center here is second only to New York, and the slave owners have no face in Chicago. At least not in this kind of thing.
All he can do now is to take William and Catherine to play with their children and live a life of incompetence and waste. Let Edith Rockefeller come forward to talk to the Chicago Clearing Center, and he doesn't want to work hard in the villa.
The children of Edith Rockefeller certainly knew that Sheffield was their father, and wondered why his father could not live with his mother.
Sheffield almost came up with a mantra of romance, I am bitter! But think about it, just explained that it was too late to meet Edith Rockefeller, the two grew up and knew what was going on.
Her daughter Catherine is also here. If only her son William Rockefeller asked this question, the slave owner would certainly not be polite, and would certainly vigorously popularize the French mistress culture, broad and profound, and a long history. How friendly the four wives in West Asia are to our men. If the elder husband is the same, do n’t forget the dross of monogamy. Men should have been studying all their lives. This is nothing wrong.
It is not without this capital. We rich people, seeing those civilian women as their blessings, the survival of the weak and the strong eat the fittest. This is very fair and conforms to the law of evolution. It should do so.
"I'm back!" Shouted Edith Rockefeller when he entered the villa, and the two children rushed past. This situation made the slave owners want to sing a poem, but they didn't think of it.
"What do you want to do over the Chicago Clearing House!" Sheffield took over the coat that Edith Rockefeller took off and hung it on the hanger. This action really fits the status of eating soft rice.
"They want to close the clearing center!" Edith Rockefeller let out a breath. "But I object to it. I think it's enough to cope with metal currency as before."
"But as far as I know, any bank now lacks gold, except me!" Sheffield shrugged. When there was an economic crisis in the past, the major clearing centers were all writing paper money and metal money, that is, gold, to delay The role of running, but now it should be useless.
Edith Rockefeller came forward to prevent the closure of the clearing center. It can be said that it took a great risk. The woman knew that her man hoped that the bigger the crisis, the better, not just limited to the civil war on Wall Street.
This is a misunderstanding of Sheffield. It is not that the bigger the better, but the longer the duration, the better. The scale of this crisis in history was large. Before Nick Burke Trust and Investment was crushed, things were indeed in place. Controllable state. In fact, the old bankers on Wall Street have a lot of resentment against trust companies.
It is believed that this kind of trust company only emerged after taking advantage of policy shortcomings. New York provided trust companies with great discounts than banks, and those with vested interests were reluctant to take risks. Therefore, when bankers first appeared in trust companies, and Not much attention, and the rise of a group of upstarts in trust companies made these old bankers uncomfortable.
The rise of these upstarts has made the old bankers psychologically unbalanced, especially the trust companies and National Bank have different restrictions. The old bankers are too late to intervene. Sheffield feels that the bankers use the New York clearing center that is still in their hands. This institution began to harvest the trust company.
It just became a crisis that spread throughout the country. It was calculated by these bankers long ago. It is still the same as most people. It is not expected that the situation will be out of control later. New York's financial industry is so developed that even many investors have started. Being blindfolded, he will wake up later.
On this day, Heinze used the last two million dollars of reserves in his hand to inject Nick Burke Trust and Investment Company into a desperate fight. In this way, this decision can be considered very tragic in the face of the flock of savers.