The Joseon Prince Went To America And Didn’t Return – 187



< Your misfortune is my happiness (1) >

The people the media focuses on change slightly every year.

When the great San Francisco earthquake occurred.

The media was obsessed with Lee Kang and even went so far as to sleep out in front of his house in an attempt to get one more interview with him.

When the financial crisis of 1907 occurred everyone was busy looking at Morgan’s mouth and copying the solutions he proposed.

“Representative Rockefeller. He will explain his future plans during a talk with reporters this evening.”

The hottest issue this year was unsurprisingly antitrust litigation.

Naturally media interest in Rockefeller increased.

“Inspector Gallock.”

Rockefeller isn’t the only one in the spotlight.

The public’s attention was also focused on special prosecutor Frank Galok who was in opposition.

Frank Galloch initially enjoyed the slightly excessive attention.

But the continued media obsession tires even the strongest of minds.

After being grilled by reporters for about three months Gallock began to avoid meeting people.

Even though he used to cancel all appointments unless they were absolutely necessary for work today even that guy was smiling brightly as he headed to the meeting place.

“Mr. Watson Bank Manager?”

“Oh my! Nice to meet you.”

Watson the president of Chemical Bank jumped up from his seat.

A long-time protégé of the Rothschilds he worked in New York for decades building a web of connections in American business and politics.

His abilities were so outstanding that he was recognized by the picky Rothschild and he easily made new people his own with his unique sales skills and friendliness.

“You look younger than I thought.”

“Haha is that so? I’ve been seeing your face in the newspapers a lot lately so even though it’s my first time meeting you I feel like I’m meeting a friend I’ve known for ten years.”

“I guess you mean that with good intentions?”

“Yes. Don’t you think that ordinary prosecutors are cold and unfeeling? On the other hand the prosecutor in front of me Mr. Gallock has a very good impression. Even though we didn’t say a single word seeing him feel so relaxed in body and mind seems to confirm my claim.”

They shower each other with compliments they don’t mean.

It’s to make a good first impression.

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This is because it was not a ‘gap-eul’ relationship where one side was superior.

They continued to talk openly for a while because they needed each other.

“Do you like it?”

“yes?”

“I heard that the inspector has been avoiding crowded places lately… so we changed the meeting place to this place.”

The place where the two met was a very private bar where entry by outsiders was restricted.

So now there were only Watson Gallock and a few clerks working here.

“This is the best. I work in Washington and this is the first time I’ve heard of a place like this. I’ll have to come here more often.”

“Security is the best so please come often. Oh! Before you come here tell the manager my name. Then you can make a reservation easily.”

“Oh my. Thank you.”

Frank Gallock kept smiling as if he was very satisfied with the meeting place.

Looking around making sure the employee was far away Galok began to speak to Watson.

“I wanted to meet you in person and express my gratitude to you Baron. It’s too bad.”

“The Baron is a bit old so it is difficult for him to travel between England and the United States. I hope that the generous Inspector Gallock will understand the Baron’s personal circumstances.”

Baron Rothschild knowingly or unknowingly supported the antitrust lawsuit being led by the U.S. Department of Justice.

Think about it.

The Rothschilds are the ones who have consistently published critical articles about Morgan and Rockefeller in the American media over the past two years.

Moreover they also supported the publication of a book criticizing Standard Oil by Mrs. Tarbell who was like Joan of Arc to the anti-Rockefeller camp.

Her books became bestsellers because Rothschild bought them heavily in the early days of their publication.

Justice Department officials only learned of these facts later.

After this the Roosevelt faction changed their minds and accepted the Rothschild family as their patrons.

In a situation where most of the capitalists in New York were at odds with each other there was no patron in this country as great as Baron Rothschild.

“Oh! I heard a rumor recently that the Baron has recruited Jesse Livermore.”

“you’re right.”

“I guess the rumors were true.”

The enemy of my enemy is my friend.

These two were forming a friendship over a common enemy Rockefeller.

They laughed at the ruined Rockefeller situation and then found another thing they had in common.

“That’s interesting.”

“What are you talking about?”

“Our president is also called Teddy. Isn’t Jesse Livermore whom you recruited also called Big Bear?”

“Oh I see. It just so happens that both of us have bears as our symbols.”

Bull is rising (bull market).

The bear symbolizes a bear market.

On Wall Street the bear is a very ominous symbol but these two laughed and brought up the topic perhaps because they found another thing they had in common.

“Ah! Mr. Watson Bank Manager. But why did you bring in Jesse Livermore? Wasn’t he one of Lee Kang’s men?”

“It just so happens that the Baron is interested in short selling.”

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“Short selling?”

“Yes. Jesse Livermore showed great short-selling skills to the point where he cornered Morgan during the financial crisis of 1907.”

“Ah! I heard that Standard Oil stock prices have been falling day after day recently. I guess it’s because you hired that guy.”

“I guess that’s what it is.”

Bank Manager Watson whispered to Gallock with a confident expression.

“Standard Oil’s stock price will fall further in the future.”

“Haven’t you already fallen a lot? Can you fall any further from here?”

“Hey. It’s only down 10% since the beginning of the year. It would have to fall by half to be considered a crash.”

Gallock thought for a moment and then began to scratch his head.

“Yes. Now that I hear you the bank president’s argument seems right. Standard Oil’s monopoly on the oil market is now completely over.”

“Yes that’s right.”

Gallock said he too would like to get involved in shorting Standard Oil.

But while serving in public office Gallock had to be careful about conflicts of interest.

That was why it was not easy to invest and Bank President Watson looked at Gallock with a bewildered expression.

“It’s a shame. Even if he were the greatest Rockefeller in the world he wouldn’t be able to survive this.”

“I think so too. But I can’t help it because it’s my job.”

“What about investing under another person’s name?”

Gallock was a bit ‘sad’ but soon pulled himself together.

The Rothschild family originally came from a group of New York capitalists.

Gallock quickly shook his head from side to side as such trivial conversation could have exposed his weakness.

“If I get greedy I’ll end up in jail. Don’t you know that? Rockefeller and Morgan are looking to kill me.”

“Yeah I guess so.”

Gallock looked at Watson who shrugged and brought up their common enemy Rockefeller again as a topic of conversation.

He shook his head denouncing Rockefeller’s current actions.

“Oh! It’s today? The date of Rockefeller’s press conference.”

“That’s right.”

“I think they are postponing the press conference date in order to present additional measures regarding this. It seems like a futile action.”

“Haha. I agree. By the way what do you want to announce?”

“well.”

“No matter what I announce it won’t be easy. With Attorney Gallock the Attorney General and President Roosevelt all looking wide-eyed.”

Gallock raised one corner of his mouth and smiled rottenly.

“If you make a half-assed show of separating the company you’re going to get in big trouble. I plan on hitting that guy’s head with a sledgehammer again.”

“Hahaha. Those are indeed the words of a true inspector.”

Watson and Gallock expected Rockefeller to cheat.

It was expected that it would end up just splitting the company into 3 or 4 parts.

The Justice Department will likely appeal Gallock predicted.

Watson smiled with satisfaction.

If there are additional lawsuits Standard Oil’s stock price will hit rock bottom again.

Isn’t uncertainty the worst kind of bad news?

“Ah! Prince Lee Kang who was known as the best investor also lost big this time right?”

“That’s what they say. If the stock price falls another 30% some of the Standard Oil stocks owned by Lee Kang will be liquidated.”

“Oh that’s too bad. It seems like he’s doing pretty well for an Asian.”

“That’s right. I didn’t know that his investment undefeated legend would end like this. But I guess Lee Kang’s luck will end here. I can’t see a way out.”

The two began drinking expensive liquor while laughing happily.

That was when.

“Inspector.”

“Bank manager.”

Gallock and Watson’s men rushed to the bar where the two were.

Everyone had a nervous expression on their face.

“I guess Rockefeller held a press conference.”

“What did you announce?”

The two received reports from their subordinates together.

“what?”

“What did you just say?”

The announcement they heard was nothing short of shocking.

Because Rockefeller declared that he would split Standard Oil into 34 companies.

“Not satisfied with splitting the company by region… they are dividing it again by sector such as production refining and distribution?”

“And you’re declaring your resignation from the front lines of management?”

“Yes that’s right.”

“He said that he would devote himself to charity after his retirement. He said that he would immediately donate the dividend that falls to him this time to a charity foundation.”

The shocking content didn’t end there.

Rockefeller did not stop at breaking up the company but even decided to separate some of the management rights.

“I plan to distribute management rights to my son and nephew. The details of the plan will be announced later but I have already distributed the roadmap to reporters so it seems that the internal arrangements have been completed.”

He handed over to his subordinates the documents they were holding.

Watson tilted his head at this.

“Even if that’s true for his son he’s passing on management rights to his two nephews. It’s strange.”

“Yes I know of only one Rockefeller nephew.”

“…I think he is thinking of giving some of this to his nephew-in-law Lee Kang.”

“ah….”

Watson opened his mouth wide looking slightly bewildered.

Gallock continued talking while looking at Watson.

“Rockefeller also announced a stock buyback and dividend increase. Mr. Watson is this OK? I don’t think it’s good news for you and the banker.”

The junior prosecutor who passed this information on later added:

He was usually interested in stocks so he knew the related information in great detail.

“Standard Oil shares rose 10 percent after the announcement. The market responded to Rockefeller’s press conference.”

“okay?”

Special Prosecutor Gallock looked at Watson with a rather serious expression.

“Are you okay? Really….”

“I’m sorry. Something came up and I have to get up now.”

“Oh yes.”

As he watched Watson leave Galok gave him his last request.

“Please be sure to tell the Baron that I am grateful.”

“Yes yes. I will do that.”

* * *

“This is the stock price trend of Standard Oil.”

I have a report in my hand.

Standard Oil’s stock price was recorded on a daily basis.

I converted this into a graph again and looked at the overall flow.

“The stock price has returned to the level before the announcement of the anti-monopoly law.”

“Yes. However since short sellers are still active further increases are unlikely.”

“Well that’s it. For now that’s it.”

I snickered and raised one corner of my mouth.

“Isn’t there a second announcement scheduled for next week? The story will change when the revised oil prices are announced.”

People who short sell are basically people who are good at short-term trading.

These people are extremely sensitive to small pieces of information.

‘Try announcing the news of the oil price increase to those people.’

It’s not just about going up.

They plan to raise the price from 6 cents per gallon to at least 40 cents.

There will be another additional increase later.

‘The first one to get out is the winner.’

Anyone with a little bit of brain power will know.

How much money will the split companies end up raking in?

The longer it is delayed the greater the loss to short sellers will be.

“majesty.”

“What’s going on?”

“I heard that Representative Morgan has stopped by here to urgently meet with Your Majesty.”

“Morgan?”

“Yes. He came without any prior notice. What should I do? Should I send him back?”

no.

His visit to our office came at a perfect time so I thought it would be nice to see his face.

“No. Tell them to come in.”

Morgan appeared before me dragging his characteristically obese fat body.

“Your Majesty. How have you been?”

“What urgent matter has come up that has caused you to come here without notice?”

He openly showed his unwelcoming expression.

Since you came without prior notice I guess this much was to be expected.

As expected Morgan tried hard to ignore my reaction and quickly got to the point.

“I have come to make a proposal.”

“proposal?”

It’s not a request it’s a suggestion.

I guess it’s not urgent yet.

“Just tell me first. I’ll listen and then make my own judgment.”

<Your Misfortune is My Happiness (1)> End