Wall Street of the third generation chaebol

＜ The roar of monopoly. (1) >

– The one who grew up without my mother.

Moltke’s speech.

Silence fell on the second floor in an instant at that destructive profanity.

The yamsaeng attached to Brigadier Moltke was also staring at Moltke with his mouth wide open.

“Detroit.”

President Thyssen also looked at me with a stiff face.

It was a worried face.

But I wasn’t the one to worry about.

He held my right hand tightly.

As if trying to stop me from doing nonsense.

“If you use your fist now, there is no turning back.”

“…What kind of cruel words all of a sudden. I’m fine.”

I was fine.

It felt like something was breaking in my head, but that was it.

However, it seems that Chairman Thyssen did not see it that way.

“Your eyes.”

“Eyes? Why are my eyes suddenly…”

Then, I felt water in my eyes.

I wiped the water off with the back of my hand.

“Oh, I’m in tears.”

“…..color.”

President Thyssen was honest and held my shoulder strongly.

“Calm down. Is that really the color of tears?”

I looked down at the firm voice of President Thyssen.

The hands that had wiped the tears were soaked in blood and stuck to them.

“…..!!!”

I was shedding tears of blood.

‘Did any thread burst?’

“ah.”

“I don’t know what happened to your family, but I can assure you one thing. Whatever you do to Moltke here and now will be against you.”

“…..no.”

These are probably the tears of the Detroit Morgan I possessed.

I inherited Detroit Morgan’s memory.

But the memory of his mother was hazy like a fog.

So what happened between the two of them was only fragments of fragmentary memories.

But Thyssen was firmly mistaken.

“Let’s plan for the future.”

Advice from Thyssen.

I woke up and wiped away my tears.

“Well, that’s what I was thinking from the beginning.”

“Then I’m glad.”

Reassured, Chairman Thyssen released my hand.

When I released my throbbing hand, I heard a clattering sound.

I was startled by the noise, but Moltke had already disappeared with Yamseng.

“If it’s Moltke, it’s there.”

President Thyssen pointed to the entrance to the church president.

Moltke, along with his lieutenant and his subordinate officers, was leaving the head of the society.

Perhaps it was because he thought I was not there and resigned as president of the society.

“Perhaps if you were there, I would have acted like a fighter. Looking at that rough habit, I might have asked you to duel. Because that’s Prussia.”

“I will.”

I remember the sword he wore.

He appeared with a true sword, not a ceremonial sword. Perhaps, as President Thyssen said, he may have applied for a duel.

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Once again, I realized that the reality I live in is the era of imperialism.

‘Is it the era of imperialism?’

When in Rome, follow the Roman law.

I thought that maybe I was a human who was out of touch with the laws of the age of imperialism.

Have I not yet been touched by imperialism?

‘But I have my own way. I do not deny it.’

I clenched my hands tightly.

Stick to the way you have been. I use my strengths a hundred times. However, it was necessary to increase the intensity a little to match imperialism.

Like it or not, since I came to Rome, I have to conform to the Roman law.

“President Thyssen. Don’t worry about me. I’m not the type to use my fists.”

“…I see.”

“You’re holding on to it too much. Enjoy the party. It’s a meeting with the chief executives, so I prepared it with care.”

“Yeah. Is tomorrow’s general meeting going as planned? I haven’t received any agenda yet.”

“that.”

After I paused for a moment, President Thyssen waited anxiously for my words.

“I will tell you at the general meeting tomorrow.”

“Is it even a top secret? Moltke must have heard the news of the general meeting tomorrow here too, but I’m pretty upset because I don’t know the agenda.”

President Thyssen spoke as if thinking about my feelings.

I recognized the favor and smiled.

Moltke.

I wasn’t angry with him.

But Detroit’s body was screaming in his head to kill him. I flatly refused.

‘I decide my life.’

But.

I will accept some of your opinions.

He just really wanted to destroy Moltke’s Krupp.

I made that decision ‘by my own will’.

“If I only give the president a hint, the extreme chicken game will begin now.”

“If it’s a chicken game…”

“Whether it’s a battle of capital. A duel of swords. There is always blood on the battlefield.”

You and me.

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One of them must die.

“You’re having a party today. I’ll see you tomorrow.”

***

German Settlement Bank.

Day 2

The board room of the former Rothschild headquarters in Germany.

“This is Detroit Morgan. I am the president of the German Investment Corporation and the president of the German Settlement Bank. Nice to meet you.”

The flower of the General Assembly of the German Settlement Bank.

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On the second day, the board of directors started.

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Of course, only the directors of the German Settlement Bank were allowed to attend, and all working-level staff and officials were prohibited from entering.

Most of the people gathered here were the heads of West German banks.

“Hmm.”

Association Bank of Württemberg.

Retired Kylian attended the board meeting by selling a business card for the vice president.

He sat to my right.

“Hmm.”

Rhein Bank of Thyssen.

Thyssen also attended the board of directors meeting with the outside director of LINE Bank.

He was sitting to my left.

“…..”

Chief Dresdner of Frankfurt.

Yalmach shaft.

He was sitting across from me.

‘In addition, the heads of major West German banks, such as the North German Bank, Darmstadt Industrial Bank, and Rhine Credit Bank, all attended.’

West German economy.

All banks for the first step were in attendance.

From the Rhine to the Elbe.

Most of the decision makers in West Germany’s financial world were in attendance.

“Today, we convened a general meeting to make some important announcements.”

The eyes of the chief executives were focused on me.

Everyone attended today’s general meeting without knowing the purpose. There were some things I didn’t notice in advance. I wanted to keep it a secret until today.

I didn’t want to tell Moltke any more.

“As you all know, the German Settlement Bank is a consortium-type bank of West German banks to form the West German economic bloc.”

Berlin, Prussia has long been established as an economic bloc. They were fulfilling their role as institutions of the German Empire.

However, the size of the capital itself was a landslide victory for West Germany.

“In the meantime, West Germany has been scattered. Even if steel or coal is extracted from the industrial zone of Rhineland, it only forms local economic zones of scattered small and medium-sized enterprises and regional banks. There was no integrated economic zone.”

Decentralized local economy.

No matter how economically developed in West Germany, including the Rhineland, if they are scattered, they will only be crushed individually by the powerful Berlin banknotes.

Thus, the Berlin banknotes have extended their tentacles to West Germany through mergers and acquisitions.

“But the Rhineland knows. West Germany has the potential to make Berlin a ‘something’ if they come together.”

There is a huge difference from basic industrial skills.

Moreover, the German Empire is different from other European countries in its structure.

With strong federalism, the independence of each state is very strong. There is little difference in economic power between the system and the regional core states.

“Frankfurt is also called the economic capital of the German Empire. If we unite as one and form an independent economic zone, we can obtain the right of self-defense that even the Junkers of East Germany cannot freely touch.”

no one can ignore us

“The German Settlement Bank is a shield to protect us.”

The more I add each word.

The atmosphere in the boardroom heated up. It was heartbreaking to see West Germany’s dispersed regional economic spheres merged into one and freed from the absurdity of the Junkers.

“However, a consortium between banks cannot form an economic bloc.”

“Oh! That’s right.”

The leaders quickly realized.

“There is no industry group to tie into the economic bloc. Banks alone cannot create an economic bloc.”

“Yeah, so I thought about it with President Thyssen. And then I devised it.”

I picked up the file folder.

The large letters were engraved in black ink.

“It is the steel alliance of the German Empire. It has characteristics unique to the Rhineland, and the foundation has already been made.”

“steel….!”

A light gleamed in the eyes of the chieftains.

A few excited leaders jumped up from their seats.

“So! What was the outcome? Was the Alliance successful?:

“No, it failed.”

“…..this.”

“But Thyssen joined. But Krupp refused, so the other steel companies were also hesitant.”

“I do.”

An atmosphere of disappointment spread.

I brought up one more agenda.

“So, I plan to shock the German steel industry.”

A murmur spread throughout the meeting room.

“Shock?”

“Soon, American steel companies will bet a game of chicken. Oh, by the way, the chicken game refers to low-cost competition. However, it is usually a game that ends when one of the two dies.”

“Is it extreme low-cost competition?”

The faces of the bankers were clouded.

In Europe, German steel is showing overwhelming production, but it is not comparable to that of the United States.

Already, the steel production of one Pennsylvania state could rival that of Germany’s overall production.

maybe even higher

“The Steel Alliance is the giant that will support the German Settlement Bank in the future, so we need to pay attention. But, as I mentioned before, are the German steel companies still scattered?”

scattered allies inside.

There is only one way to unite German steel companies into an alliance.

It’s always been like that.

For internal unity, external enemies are created.

“So I thought. If there were external enemies, the German steel companies would be tied together. I intend to give the German steel industry a ‘crisis’.”

“…..”

At the crazy scale, the leaders opened their mouths.

bang-!

German Settlement Bank.

Someone smashed the desk with their fists as if they were about to break.

“Are you crazy! That’s not a shock! It’s a disaster! If you make a mistake, the German industry itself could be deleted!”

“Yes. It may be deleted if done wrong.”

“What? Are you guys planning to kill our German industry in a nutshell!!!”

“everyone.”

A chill that has subsided.

I growled in a low voice.

“Aren’t you doing something wrong right now?”

“mistaken?”

I calmed my eyes.

“Yes, an illusion. That is a fatal mistake. Unless there is a crisis in the first place, German steel can never come together. Scattered steel will surely come to a halt someday. How long will the American monopoly steelmakers remain quiet?”

“But those monopoly steel companies are you…”

“I own it? Yes, that’s right. But, what is it? Do I have to take care of you until I cut my profits?”

At my cold remarks, the chiefs kept their mouths shut.

“I’m a profit-and-loss financier. And I just decided that the German Steel Alliance was more profitable for me. No more, no less. Don’t get me wrong. It’s an important part.”

“…..”

“Aren’t you also cooperating with me and the German Settlement Bank for your own benefit?”

For a moment, they felt as if they had been beaten with a hammer.

The financiers, who were appealing to their emotions, became aware of their duties and awakened their cold rationality.

The financiers are ruthless.

Throwing away the calculation of profit and loss, the financier, consumed by emotions, was slowly dying. The leaders who have survived so far are veterans who have endured with reason.

“…I have no face.”

“Yes, thank you for your understanding.”

I smiled softly again.

Now I’m ready to listen.

“I will only wield the mace of a monopoly steel company to unite the German steel industry.”

“…If that happens, we will be united around the German Settlement Bank.”

“The governor of Detroit is right. The steel industry has been very fragmented. The German International Trade Association has been stagnant for too long to help with overseas export.”

trade association.

It is the number one contribution to fragmentation of the German steel industry.

In the first place, the steel industry itself is an industrial structure that is difficult to fragment. As the vertical integration becomes more integrated, the profit is maximized through cost reduction.

However, the German industry has opened the way for export to small and medium-sized enterprises (SMEs) through trade associations. This has fed the German steel industry for a while.

“Yes, I know that the German steel industry already has a trade association in Hamburg. I also know that it is the number one contributor to feeding German steel. But.”

Everything is good, but in the end, only the profit structure deteriorates.

In the end, even the original station will be integrated into a large-scale M&A. In the 1910s, steel monsters began to appear in Germany as well.

It is the result of German steel entrepreneurs studying American trust and applying it in a German way.

Ultimately, it is the future.

“The price competitiveness of the fragmented steel industry will gradually decrease. Don’t you all know. If this continues, they will all die. In the future of German steel companies, there will be only a few consolidation results.”

The German steel industry also worked hard to break down.

As the profit structure did not improve with the steel mill, it began to turn to precision machining with high added value.

The version that maximizes the synergy is Krupp.

Mainly steelmaking (steel) and precision processing (weapon).

Krupp does both.

But this is by no means an easy road.

“In Germany, the Steel Alliance is essential. In the United States, several steel industries have already been consolidated. If you become outdated, there is only death.”

US Steel.

When I absorbed Bethlehem Steel, the history of the American steel industry was greatly twisted.

U.S. Steel in the original history dominated two-thirds of the U.S. steel industry without Bethlehem Steel. Bethlehem Steel took the rest of the market pie.

90% monopoly.

If I were to absorb Carnegie Steel, I would monopolize almost 90% of US steel.

Can the German steel industry trade association beat this extreme steel monster?

Absolutely impossible

“If you do not want to shut down all of the steel mills in Germany, the German Steel Alliance is essential. We need a large-scale steel monster that is tied to each other. A steel monster large enough to support the West German economy.”

I already made up my mind from the moment Moltke gave me a pad lip.

‘Even if you don’t agree, I will proceed.’

I had some authority.

But, I am asking for your consent.

Because that was the bare minimum.

Then someone raised a hand.

“When the German Steel Alliance is completed, will the chicken game stop?”

“Yes, it stops. I can stop.”

it’s my company

However, by then, my stake will already be eroded ‘significantly’. It’s not your own steel.

Then Killian raised his hand.

“Morgan, everything is fine, but what will happen to the steel mills in England, Russia and France?”

“Is it them?”

I shrugged.

“Well. It’s not my part-time job.”

“Haha. That’s right.”

“My interest is the alliance of German steel companies.”

At the same time, it was a great consolidation of American steel companies.

“Put away all obstacles. Do you have any disagreements?”

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Oh and one more thing.

Krupp’s steel division will be completely revamped.

‘But if Krupp is destroyed, there will be no choice but to touch the heart of the Berlin Palace.’

Prussian police officers are scary.

It’s time for the secret police and everything to run rampant.

Therefore, only the steel parts extracted from the steel mills are used.

…for now.

‘If it is successful, Krupp…we can rise to the top.’

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Once you control Krupp’s seasonal parts, you can make them ‘dependent’ on us.

From then on, we will monopolize the steel supply, so Krupp cannot supply steel without our permission.

A steel mill that betrays us and supplies Krupp? I’m sorry, but if you monopolize it, you can just change it. only one meal

‘Krupp is a company specialized in metal processing rather than steel making.’

In fact, for Krupp, a military-industrial complex, the steel parts are not very important.

Metalworking is much more important.

But what if there is no steel for metalworking?

From then on it will be really fun.

‘If I tie a leash in season, no matter how wild I am, I am the leader.’

and Moltke.

‘The child is cut off from the croup and dipped directly.’

It looks like frost will sit.

The cool air seemed to freeze around me.

“Detroit. Today’s conference was great. Let’s have dinner together.”

“I think I should go to America for a while.”

“America? At this point?”

“Well, I’ll just finish my work and come back soon.”

Thyssen was nervous again.

“What’s going on in America?”

“A little… I have something to do in earnest.”

“If it’s serious…”

“As I said yesterday, the chicken game will start soon.”

I calmly talked about my plans.

“I’m going to blow Krupp, or Moltke, out of this German land.”

***

Pittsburgh, Pennsylvania.

Headquarters of Carnegie Steel.

Bump-!

“Chairman! A telegram has arrived from Federal Steel, I think you should check it out.”

Charles Schwab.

The current CEO of Carnegie Steel and his henchman. He rushed into Andrew Carnegie’s office.

“What’s going on?”

Relaxed Carnegie.

Charles Schwab paused at President Carnegie’s seeming liberation.

“President?”

“Oh, don’t worry about me. I’m a little tired these days. It’ll be fine if I lie down in a chair like this. Let’s look up and see.”

“Yes.”

Charles Schwab sent a telegram.

“Federal Steel, which has absorbed Bethlehem Steel, has foretold full-fledged low-cost competition. In fact, this is a warning.”

“As an official?”

“No. It flew through a private channel.”

“Then it’s literally a warning. No, it’s a threat.”

Carnegie leaned back.

He’s kinda tired. Still, he looked at the hearth that lit up the room with his brightly shining eyes.

“It’s cheap competition…”

“Chairman, Carnegie Steel has very little cash left in its acquisitions of Pittsburgh steel companies.”

“I will.”

“Since we’ve signed a truce, Detroit Morgan will offer funding, but I think they’ll probably offer a loan with our stake as collateral.”

“Is this because Carnegie Steel is also in crisis?”

“I’m sorry, but yes.”

Whoops.

The hearth of the fireplace, which devoured the firewood, was burning with enthusiasm.

President Carnegie’s eyes didn’t move.

“…Then shall we sell it? Carnegie Steel.”

“Yes?”

Charles Schwab’s eyes widened at Carnegie’s sudden remarks.

But Carnegie wiped his rough hands.

“The idea of US Steel you talked about before. Your plan to merge with Morgan Gnome Steel to monopolize US Steel. Is that still valid? I think Morgan said he died.”

“As long as Carnegie Steel is strong. It is always valid. Chairman.”

“Then I guess there’s only one chance now.”

creak.

got up from the sofa

Charles Schwab took a step back in that spirit.

“What opportunity are you talking about?”

“Last chance for Carnegie Steel to get paid.”

“……!”

Charles Schwab opened his eyes again.

“……”

But soon, his eyes relaxed.

Federal Steel was risking its life and death to prepare for a low-cost competition. You can know without any information.

The New York Financial Settlement Agency was twisting its body and screaming.

A large flow of money was flowing into Federal Steel.

‘Is Carnegie Steel the end?’

Perhaps Carnegie Steel will either fail or be eroded by Detroit’s funds.

If the results are the same, it is a manager’s virtue to choose the best option.

Charles Schwab nodded silently.

“Perhaps if you sell, now is your last chance.”

President Carnegie was silent.

For 10 minutes like that, President Carnegie seemed to organize his thoughts in his head.

Maybe it was as if he was making up his mind about the steel company he had dedicated his life to.

Charles Schwab waited patiently.

Tick tock… Tick tock…

The sound of the second hand of a pocket watch.

A suffocating silence fell in the room.

Ten minutes passed like that, and President Carnegie’s mouth slowly opened.

“I’ve decided.”

President Carnegie opened his eyes sharply and instructed.

“Call Gary right now.”

Albert Gary.

President of Federal Steel.

President Carnegie stared at Charles Schwab with a firm, unshakable gaze.

“Carnegie Steel. We are planning to sell it, so let’s pursue mergers and acquisitions.”

US Steel.

Mergers and acquisitions of No. 2 Carnegie Steel and No. 1 Federal Steel. It fired the signal for the birth of a steel monster that will monopolize more than 90% of US steel.

＜ The roar of monopoly. (1) > end