King

"The Warren Chamber of Commerce gave an estimate of 26.6 million gold coins!"

"The Katsiya Chamber of Commerce gave a valuation of 26.06 million gold coins!"

"The Augustus Chamber of Commerce gave a valuation of 25.57 million gold coins!"

"The Drunad Chamber of Commerce gave a valuation of 25.34 million gold coins!"

…

An interesting scene emerged. The representative who criticized the most happened to be the one who gave the highest valuation.

Just from the valuation and quotation, it can be seen that everyone has done their homework.

Including several chambers of commerce in the kingdom, although their pockets are not rich, the valuations given are not low.

It was obvious that everyone was sensible, and no one jumped out stupidly and asked Hudson to give them special treatment.

Including the chamber of commerce under the royal family, all quotes are honest and everything is in accordance with the rules.

Hudson is very satisfied with this result. Working with smart people will save you a lot of trouble down the road.

"Congratulations to everyone, the base price we gave is 18 million gold coins, and the valuations everyone gave are above this, so everyone enters the second round of negotiations together.

As for the valuation of the Near East Development Bank, just like making a friend, we directly rounded up the average of your quotations and made the price 23.6 million gold coins.

Regarding investment share, we not only look at money, but also at the resources that everyone can provide.

In fact, I am not short of six million gold coins. If you think of ways to raise funds, you can still get it together.

Inviting everyone to participate in the financing meeting is mainly because the resources in your hands can accelerate the development of the bank.

For example: we provide convenience for the bank to conduct business, deposit idle funds in the bank, designate business in the Kingdom, use the Near East Development Bank's golden ticket settlement, etc., as long as it helps the development of the bank.

Of course, these resources are not provided free of charge, and the bank will give everyone generous returns.

There are two plans in total, either we directly pay for financing, or we use resources to finance at a discount. "

Hudson said with a smile.

This result is somewhat unexpected, but also expected. As an emerging industry, the Near East Development Bank deserves a valuation premium.

When the monopoly advantages no longer exist, tax exemptions disappear, and everyone understands that banks are essentially high-debt operating companies, valuations will naturally fall.

Of course, that's in the future.

These are not the only advantages that the Near East Development Bank now has. Low capital costs are also an important factor in high premiums.

Deposits do not need to pay interest, and transfers and withdrawals can also charge high handling fees. The cost of obtaining funds is directly amortized into a negative number.

In everyone's opinion, as long as the liquidity crisis is resolved, the future of the Near East Development Bank will be bright.

The main reason for not taking advantage of the situation is that everyone believes that even if there is insufficient liquidity, the Near East Development Bank will not go bankrupt.

Before attending the meeting, everyone conducted a thorough investigation of Hudson's family background. The unanimous conclusion was that Hudson had little cash but plenty of assets.

Assets cannot be liquidated immediately, but having the backing of these assets can give savers peace of mind.

As long as there is no large-scale bank run, the Near East Development Bank is safe. Insufficient liquidity means nothing more than slower development.

To supplement the liquidity of banks, in addition to increasing capital, direct deposits into banks can also solve the problem.

Compared to giving money before, Hudson prefers resource investment. In essence, banking business is a business that relies on human resources.

Just to ask for money, there is no need to invite several chambers of commerce in the kingdom. In the context of a money shortage, they have to give priority to supporting the owners behind the scenes, and they simply cannot spare much money.

"Your Excellency, if you use resources to invest in shares, this share will not be enough for us.

For all of you here, if you fully support the development of the Near East Development Bank, you can't buy it with just six million gold coins.

I think it is better to calculate financing and resource shares separately. The financing amount can be limited to 6 million, but there is no limit on resource replacement shares.

The Kingdom of Alpha is in a financial crisis. This is an opportunity for the Near East Development Bank to expand, but it is also a challenge that needs to be faced.

Rather than continue to fiddle with it in the future, it is better to get it right now and directly solve all the problems of bank development. "

Count Jonas's proposal startled Hudson. If he hadn't been prepared in advance, he would have thought that this was a "trust" arranged by himself.

Both money and resources are given, and it is clearly to support the pace of the Near East Development Bank.

If we get the full support of all parties, there is no guarantee that it will be possible to roll out the network to all major provinces in the kingdom within a year.

For at most three years, the Near East Development Bank can be seen in major cities in the northern continent.

Even the run crisis no longer exists. As long as there are no emergencies, there is no possibility of a run on the Near East Development Bank, which is backed by so many powerful forces.

However, pies are usually poisonous, and for taking so many benefits, one must pay a price for it.

For example: the right to speak in the bank.

Only six million gold coins accounted for just over one-fifth of the shares. Such a small amount of shares is still divided among more than a dozen shareholders. Even if a request is made, it will have little weight.

Only by increasing the equity share can we gain a higher voice.

“Expanding the share of financing is OK if others don’t object.

However, it should be stated first that shareholders have no right to interfere with the normal operations of the bank as long as it does not violate the bank's rules and regulations.

If something unexpected happens and you want to sell your shares, the major shareholders also have the right of first repurchase.

Regarding the issue of resource valuation, you can talk to President Rudolf in private. We will only finalize the general investment direction today. "

Hudson said without changing his expression.

It is normal to have calculations, but it is not in line with human nature if there is no careful thinking.

There is no problem if you want to have a say, as long as the price is sufficient, everything is easy to negotiate.

If he really had deep pockets, he could sell it even if he wanted to acquire the Near East Development Bank.

There is no need to pay 23.6 million, even if it is directly discounted in half, Mr. Hudson will sell it.

The threshold of a bank mainly lies in capital. As long as he has money in hand, he can create another Near East Development Bank at any time.

Obviously, this is impossible. The Near East Development Bank is valuable only when it is deeply tied to Hudson.

Without him as a military leader, the value will be broken. You must know that the bank's net assets are less than two million.

The bigger the business, the easier it is to negotiate.

Every penny has to be compared, that is the business of the people below, and the big shots don't have time to bargain in person.

The 6 million financing share was quickly divided up, and 5 million of them were robbed by people from the Southern Continent Chamber of Commerce.

Such enthusiastic buying was only because Hudson promised to increase the bank's dividend ratio by ten percentage points every year, with the maximum limit being 70% of net profit.

Sitting in the vast market of the human race in the northern continent, the future "money scene" of the Near East Development Bank can be seen at a glance.

If it develops smoothly, this investment is likely to recover the cost through dividends within a few years, and then just make money.

On the contrary, the negotiation for resource swap shares has reached a deadlock. Unlike real money and silver, it is difficult to have an accurate valuation of resource investment.

This trouble did not last long. With the investment of large amounts of funds, the expansion speed of the Near East Development Bank increased again.

In just one month, five more branches were opened. The financial statements are beautiful and impeccable for all investors.

The result of the expansion is that bank valuations continue to rise, causing all parties in the entanglement to cry out that they have been cheated, and they do not want to continue to be entangled and fall into the trap.

The final result was: in just three months, the valuation of Near East Development was inflated to 65 million.

As a price, Hudson's shareholding dropped from 100% to 46%.

The controlling stake is still there, but investors can also formulate rules and regulations through the shareholders' meeting to restrict the behavior of major shareholders.

This is an inevitable result. With such a huge investment, no one would dare to place a bet easily if they do not even have the power to restrict the behavior of major shareholders.

On the books, everyone made money, but in fact the bank's net assets were less than 10 million.

However, everyone is very confident, simply because every loan issued is generating profits and there has been no case of default.

In fact, in addition to high-risk businesses in the Near East, everyone is more willing to see defaults in businesses in other regions.

They are all loans with collateral. Once a debt default occurs, these assets will be sold off, and those who take over happen to be a group of shareholders.

There is so much room for maneuver here.

The collateral is all discounted, and the bank only needs to recover the cost, and the rest is the profit of the receiver.

The net worth is small, but the bank coffers are rich. After all the idle cash in the kingdom was deposited in the bank, the amount of deposits quickly began to expand.

The most critical thing is that the emergence of a group of shareholders has given a major endorsement to the bank's credibility, and the outside world's recognition of the Near East Development Bank has skyrocketed.

The frequency of golden tickets appearing in the kingdom's trade is also increasing. Except for a few conservative nobles, most people have accepted the use of golden tickets for large-scale trade.

Especially in areas with serious money shortages, gold tickets are used more frequently for transactions and have a tendency to become currency.

After they first got the golden tickets, everyone immediately ran to the bank to redeem them as soon as they expired.

After going back and forth several times, everyone found that not only was it inconvenient, but also charged a high three-point handling fee, which was not cost-effective at all.

In particular, merchants with high turnover cannot bear the high handling fees, and passively become the first group to accept golden tickets.

…

The outbreak of the financial industry directly alleviated the kingdom's money shortage crisis, and also greatly increased the speed of economic recovery in various places.

In particular, Northern Xinjiang, which is in desperate need of development, and the Near East, which is completely blank, are the main force in this round of economic recovery, with large construction sites everywhere.

The period of rapid economic development has covered up countless social contradictions, and the situation in the kingdom is excellent.

Having just sent away the king's envoy, Hudson never dreamed that one day the royal family would become a loan customer of the bank.

However, when I think about my family's investment in the Xueyue Territory, the royal family that gained more from the war will only need to invest more construction funds, and it is normal to be short of money.

As the most closely connected household in the kingdom, it is naturally very easy for the royal family to get a loan. Naturally, someone was specially sent to say hello to Hudson in order to get the best loan interest rate.

There is no doubt that the royal family's loan will definitely be approved first. In addition to the indispensable collateral stipulated by the bank, the loan interest rate is a direct hit.

Ordinary commercial loans have interest rates of more than ten or twenty points. For some short-term capital turnover, the daily interest rate can reach one point. The annual interest rate of the royal family's loan was directly reduced to six points.

This is the lower limit of the prescribed interest rate set by the shareholders' meeting. Representatives of the Royal Chamber of Commerce personally participated in the vote. Naturally, it cannot be said that Hudson does not take care of it.

The royal family has become a loan customer, and more noble lords have applied for loans. Even if some large families are not short of funds themselves, their branches in northern Xinjiang and the Near East still need loans.

In the absence of valuable collateral, it is also common to find a guarantee loan from the principal.

Seemingly overnight, the Near East Development Bank became the kingdom's major creditor. This kind of bubble-like performance growth scared Hudson and hurriedly stepped on the brakes.

Becoming everyone's creditor may seem like a bright "money path", but the ending usually isn't very good.

If the Kingdom's economy is in turmoil, the Near East Development Bank will die immediately. The result of forced debt collection is most likely that the bank will disappear.

There were cases of car rollover in the previous life.

It's just that compared to those loan sharks, the Near East Development Bank's approach is much gentler, and the interest rate is much lower than private lending.

It happened to coincide with the Kingdom's economic recovery period, and all walks of life were booming. There were almost no customer defaults on debts, and naturally there were no forced collections. The overall reputation in society was pretty good.

The economic situation is excellent, and Xueyue Ling's comprehensive development plan has also been put on the agenda.

"Your Majesty, this is the territory development plan drafted by the Ministry of Government. It includes agriculture, animal husbandry, fishery, industry and commerce and other fields.

Strive to achieve self-sufficiency in vegetables within five years, continue to develop and expand animal husbandry and fishery, and promote the development of light industry..."

After taking the document from Jacob, Hudson read it to himself.

The five-year plan was released under his authority, but he only gave the development direction, and all specific plans were completed by the Ministry of Government.

It doesn't matter whether it is advanced or not, the key is to be "suitable". The special environment in the Near East determines that Xueyue Territory cannot develop its economy according to normal steps.

The conventional "agriculture-based" economic model is completely inapplicable here.

In line with the principle that the orcs should not be allowed to take advantage, in addition to the vegetable fields that must be cultivated, the agricultural development plan given by the Ministry of Government mainly focuses on planting cash crops.

They all require secondary processing. Before they are mature, they cannot be used for any purpose. Some plants are still poisonous.

Even if it is snatched away by the orcs, they do not have the ability to process it twice and can only waste time.

In this context, animal husbandry and fishery, which are the main sources of food in the territory, have naturally become key development industries.

The animal husbandry industry has just started and can only provide some dairy products for the army. Beef and mutton are still luxury goods.

On the contrary, it is the development of fisheries that has the greatest impact on the territory. Hudson was not a stingy lord. After the fish production increased, the diet of the people also changed.

Especially the younger generation, they are no longer full of food. When I work, I feel more energetic than before.

Not to mention the army, as Mr. Hudson’s treasure, the food standards were already on par with the Kingdom’s standing army.

Hudson has a high prestige in the army, half of which was earned on the battlefield and half of which was fed with high-standard food.

He single-handedly raised the food standards of the kingdom's army, establishing his unshakable position in the army.

As a result, the quartermaster behind him couldn't help but curse her since he took office. Everything is standardized and clarified, which is completely cutting off their financial opportunities.

However, the kingdom attaches great importance to the development of the army. Even after the war, the big shots have not taken their eyes off the army, greatly reducing their room for operation.

"Industry and commerce" is a complete weirdo in Xueyue Territory.

To say that industry and commerce are underdeveloped, the volume of trade in and out every day can almost catch up with the royal capital. The resulting transaction tax is the highest in the kingdom.

To say that industry and commerce are developed, Xueyue collar has nothing. If we insist on raising it up, then the heavy industry is ship repairing, and the light industry is drying salt and pickling salted fish.

Other industries?

There may be a few handicraft workshops taking root in a corner of Crescent Harbor, but Hudson didn't notice them anyway.

They are all vast grasslands with relatively scarce mineral resources. Several pitiful metal mines with low reserves have almost no mining value.

Heavy industry is inherently deficient and only light industry can be developed. Even light industry is a processing industry based on agriculture and animal husbandry, and must develop simultaneously with these industries.

Looking further back, there are plans for urban planning and construction, road planning and reconstruction, etc. The entire five-year plan is full of "roughness".

After a cursory look at it, Hudson was very dissatisfied, but couldn't find any faults.

Times are different, and plans are naturally different. For example: road traffic.

In an era when oxen and horses were the core mode of transportation, it was enough to keep two carriages facing each other, and a width of three to four meters was enough.

It is a minor problem if there is an overrun. There is grass on both sides and it will not affect the normal passage of vehicles.

Many areas on the prairie can be used as official roads by repairing them. Naturally, Hudson would not spend a lot of effort to build "chidao".

There is no need to think about the more expensive cement road. He is not panicking about spending too much money.

In any era, cost is the first factor. Just meet the current demand, and future capacity requirements will increase. That is a matter of the future.

There are only so many labor forces in the territory. If you take care of one end, you can't take care of the other end. You can only choose the development that is most needed.

Anyway, there are only a few hundred thousand immigrants and a few hundred thousand slaves in Xueyue Territory. Except for a few cities around the city, there are no people in the remaining areas, let alone transportation needs.

"First implement the plan according to the plan! Later, we will make local adjustments according to the actual situation.

The layout of the agricultural field is not enough. Although cash crops are grown, irrigation is also a big problem and we cannot rely entirely on natural irrigation.

There are also many small rivers and streams in the territory, and these ready-made resources can be utilized.

We can completely build reservoirs and weirs based on geographical conditions to meet..."

Midway through the sentence, Hudson realized he was doing something stupid. These infrastructures are indeed important, but in the wizarding world there is no need to use human power at all.

Relying solely on manpower, a large reservoir would require hundreds of thousands of laborers to work hard for several years.

With Maxim's size, rolling on the ground would create a large weir pond. After a few more rolls, a reservoir came out.

The original artificial canal is an example. The project that originally took decades was completed in just a few years with the help of Bear Stearns.

Back then, Bear Stearns did not have the strength it does now, otherwise the construction progress would have been faster.

Now we have Maxim, a good worker. If these two are mobilized, water conservancy projects that take several years or more than ten years can be completed within a few months.

In the past few months, artificial assistance has been mainly used to build gates and canals. The actual construction time may be the moment when the magic is released.

The only problem is that these two uncles are lazier than the other, so it is difficult to trick them into working.

After a moment of hesitation, Hudson's tone suddenly changed.

"For the water conservancy project, you can be responsible for the site selection and planning. I will be responsible for finding solutions to the construction issues. You can just send someone to follow up on the aftermath."