Section 76 Stocks and Bonds

The project in Guangzhou can be solved by raising shares and issuing bonds, which was approved by the Executive Committee, and Cheng Dong himself was very supportive of this -- a large number of people from financial backgrounds have been dissatisfied and depressed because they have no professional counterparts to do business. With the big shijie project, in the future, we can retreat to the stock market and continuously draw blood from Guangzhou.

However, the Executive Committee has certain worries about whether the shareholding system will cause the loss of corporate rights and interests. Although both shipping and runshitang are joint-stock enterprises open to the indigenous people, the source of private shares is still from naturalized people and collaborators "within the system". The Guangzhou Dashijie project is completely public. The source of shareholders is complex, and some people are very worried about whether the open offering will cause future interests and constraints on social transformation.

"When we officially rule Guangdong, we will inevitably carry out a great purge of the original gentry class, and completely eliminate it from the first to the spirit! And now this kind of IPO is essentially selling them a gold medal that will not kill them. Du Wen fiercely criticized this at the meeting, "I think it is strange that we have a system based on the Jihua economy, and Weishenme wants to engage in this kind of capitalist crooked and evil ......."

Qian Shuiting struck a hammer: "Please focus on the topic and don't involve irrelevant content." ”

Although Du Wen is generally popular in the Senate on weekdays, her words touched the hearts of many senators. There are many veterans who think that they should not hook up too deeply with the vested interest groups of the Ming Dynasty.

For this reason, the Chief Financial Officer came out to defend Chen Ce, the director of the policy department of Delong Bank. In fact, he is not only the head of the bank's policy department, but also the head of the policy planning department of the entire Treasury Department.

"I would like to remind you veteran comrades that whether it is a public offering or the issuance of corporate bonds, it is essentially 'providing financial services for the development of enterprises', and I think you will not fail to understand the meaning of my words." Chen Ce said calmly, "Want to control the board of directors by buying shares, so as to finally gain the right to speak and even control the operation of a company? This kind of thing can only happen in the so-called rotten capitalist countries of Elder Du. It didn't happen in the old plane, and it certainly doesn't happen in this plane. After all, we are the majority shareholder. ”

Some of the patriarchs and elders had a look of "sudden realization" on their faces. Some people didn't understand much and continued to wait for him to continue.

"Big enterprises and big companies don't mean that they have to pay dividends," Chen Ce began to say more clearly, "and besides, we can set up a separate holding company for issuing shares." Why, you never watched the financial version in the old plane? ”

But Chen's philosophy doesn't work entirely either. Relying on speculation to make profits inevitably requires a relatively regulated stock trading market. At present, there are no conditions for the establishment of a stock market in Guangdong. The Planning Institute and the Finance Director's Department are also not in favor of the immediate promotion of these financial instruments in the local space. The Ming people have the concept of shares, but they are not so profound as buying and selling stocks to make money. Their only concept of buying shares is to pay dividends when they make money. I'm afraid it's hard for the big shijie project to say that it's a loss all day long.

After repeated discussions, the princes of Wudaokou Tea House formed a consensus: For the time being, the stock market will not be engaged, and the Dashijie project can raise shares from the public, and at the same time issue corporate bonds -- with the issuance of corporate bonds as the main source of funds.

In order to obtain the working capital for the construction as soon as possible, Guo Yi immediately started working hard after getting formal approval. He discussed with Meng Xian how to actually do this.

"Okay, you tell me how much you want first, and how much you want now." Meng Xian touched-touched-touched-his chin--his beard had been shaved long ago because he didn't look like a superior person, but he still unconsciously kept this action.

"You know how much money I have." Guo Yi said dissatisfiedly. According to the financial regulations, the flow of funds from the Guangzhou station is now all from the account of Delong Guangzhou Branch.

"It's different, although I know your accounts clearly, but that's the money of the entire Guangzhou station, not the investment in the big shijie project - this money can't be mixed."

"Cheng Dong's allocation to me is 35,000 taels. It is all the financial and personal compensation given to us by the Guangdong side. Guo Yi whispered, "This money is now allocated to the Dashijie project team." ”

However, in addition to using this money for the big shijie project, it also has to pay for various repair costs for the reopening of the purple store. This money will cost 10,000 pieces of silver. The money left for the big shijie project is more than 20,000 taels.

"Twenty thousand taels, not too little." Meng Xian commented.

It's not a little, but it's not a lot in terms of the overhead below. The Planning Institute gave a rough valuation form, and the entire Dashijie project, including the building materials project in the early stage, will be completed and all the equipment and personnel will be completed, and it will cost about 70,000 or 80,000 taels of silver.

Meng Xian said: "Let's calculate it according to the plate of 100,000 taels." There's nothing wrong with raising a little more. ”

With the operating capacity of Guangzhou Station, it is not too much of a problem to earn 80,000 taels, but the vast majority of the income of Guangzhou Station has to pay for a huge number of imported goods, which is already arranged by the Planning Institute and cannot be changed at will.

"I'm going to start an underwriting group." Meng Xian said, "Contact a few big money banks in the city to contract sales. Then you will get 80,000 taels of silver at once - you don't have to count the little coins every day and wait for the money to be scraped together. He looked around, "Besides, you don't look very professional selling stocks and bonds in the store." ”

There are two kinds of securities issued, one is the stock of the Dashijie project, each share of Kuping silver is seven dollars and two cents, which is equivalent to one yuan of negotiable bonds. The stock income is not agreed, and dividends are distributed according to the operation and profit status of the Guangzhou Dashijie project every year. If the business is not good, there is no or less division. The other is the bonds of the Dashijie project, and each bond is also seven coins and two cents of Ku Pingyin. The bonds are issued with a three-year tenor of 2 cents per annum. Compound interest is not calculated, and the principal and interest are repaid in a lump sum at maturity.

All stocks and bonds are anonymous and cannot be reported as lost. This is tantamount to an endorsement that stocks and bonds can be transferred privately. Preparing for the establishment of stock and bond markets - the stock market in Europe was originally a matter of buying and selling among private individuals in coffee houses.

Therefore, the Guangzhou branch took the lead and contacted six other large peer banks in Guangzhou to amortize the stocks and bonds of the 100,000 taels of silver. Meng Xian was the first to subscribe for 20,000 taels. The financial resources of Zizihao, the strength of the Australians and Meng Xian's unhesitating subscription made the money banks not hesitate, and soon amortized the 100,000 taels.

The news of Zizihao's fundraising through Qianzhuang immediately caused a great sensation among officials, who did not know that Guo Dongzhu's industry was making money day by day, and many people had to deposit their private money in Zizihao's cabinet. Now there are shares to buy! Buying shares is equivalent to raising a goose that lays golden eggs! The officials up and down all looked at the silver they had accumulated for the eunuchs for many years.

With such enthusiasm for officials, ordinary people are naturally not far behind. The gentry who are in contact with the government on weekdays are well-informed and have also received news. They sent people to the underwriting bank to greet them in advance and reserve the number to be purchased. However, Meng Xian was hungry for sales this time, and tightly grasped the procedure of subscription book, and only gave half of the subscription book to each underwriting peer. The remaining number is ready for public sale.

One thing that is obvious is that a black market for subscription books was immediately formed. A subscription book that can buy 500 shares only costs 100 yuan in the Delong Guangzhou branch, but on the black market, it changes from 200 yuan to 1 yuan, 5 yuan, and 1 tael, and Zuihou even calls the price of 50 taels. The price is crazy enough for anyone.

"It seems that greed and speculation are things that cannot be avoided in any time and space." When Meng Xian heard the news that the subscription book was being fried, he couldn't help but sigh with emotion.

The officials and big households are so enthusiastic, and the people are not lagging behind. Stocks and bonds are only seven cents and two cents of silver each, and middle-class families can afford to buy them, and the various wealth myths of the purple number are also seen by the small people in Guangzhou, and this time they can be stained with light, and they are even more unwilling to miss it, and they have flocked to the money bank - even if it is to buy five shares and ten shares.

It only took four or five days for the underwriting group's quota of 100,000 taels of silver to be sold out. In fact, if Meng Xian and Guo Yi hadn't intended to let the Shengdou Xiaomin and the middle-class family be able to buy some of the certificates, just the local gentry would have been able to buy all the quotas.

"We can completely distribute 200,000 taels of ......," Zhang Yikun, the person in charge of Dashijie, smiled from ear to ear. As soon as the silver is in hand, the project can be pushed forward on a large scale.

"What's the hurry, this Guangzhou city can be called a silver black hole, 200,000 taels is nothing-I don't know how much silver is hidden in the corner of the old rich people's wall and under the ground. We're going to find a way to dig up all their money. Meng Xian said, "This time it will be the first phase, and the second and third phases will be released in the future." ”

Zhang Yikun nodded again and again: "This is the best, keep selling, and other people's money is cool to use." He thought for a moment and said, "We should sell more stocks and less bonds." The interest of the bond cannot be run away at two cents per year. Anyway, the stock will say that the operation is not good, and it will not pay dividends. Anyway, the shareholders can't check the annual report or anything. ”

Meng Xian said: "The stock market is played bad by your thinking." You are a pig as a shareholder, and you have to arch in to kill pigs and bleed all day long? In my opinion, in the first five or six years, we will more or less have to pay dividends, and then we will build up credit! Even if you don't make money and lose money, you have to share it! In this way, your second and third phases, and other project stocks in the future can be sold! ”