Chapter 21 Black Dog - 5

To understand "Wall Street Action," four things must be kept in mind. One: The whole operation lasted about ten months. Second: Reb Klimrod, while directing this campaign, presided over ten, twenty, thirty other operations of various kinds, not only beyond New York, but also beyond the confines of the United States. borders.For him, it was just one of dozens of games he was playing at the same time. Third: As usual, Reb Klimrod is alone, and only believes in his own memory.He successively established twenty-nine companies, several of which were dissolved immediately once their goals were achieved.He used a lot of people, Daniel Hassendorf was one of the most prominent ones, but none of them had the slightest idea of ​​the overall situation.

Fourth: Wall Street's site adjustment and re-layout actually changed the future of this financial district, which involved sixty-seven banks, several financial institutions and insurance companies.The total amount invested in turnover reaches and may exceed one billion dollars. David Fellowes said: "I finally got the consent of the other directors. First of all, on the vacant land I bought from you, we are going to build a sixty-story building. We will concentrate all the various departments in the There. Then, the original seven buildings..." "I have already made arrangements for this building."

"My friend Harvey Barr has pledged to buy the building. His letter is a masterpiece. I'll probably frame it. Anyway, there are six other buildings." "I have declared that I would sell them on your behalf." "Barr told me that with regard to the two buildings belonging to his bank - one on William Street and the other in Brooklyn - you gave him assurances of the same nature. Is that true?" "The same can be said." "We have six buildings and two buildings in Barr, a total of eight buildings. What do you want to do? Buy and sell everything in Wall Street?"

"I don't think anyone would conceive of such a crazy plan," Leiber said calmly. "Would you like to entrust me with carte blanche to sell the other six buildings on your behalf?" "willing." "I would like you to give me a formal power of attorney so I can negotiate the sale. My lawyer calls it an 'off-sale agreement' and certificate of representation. Is this possible?" Fellowes looked over to one of his lawyers present, who nodded. "I empower you," Fellowes said. "The specific details are for your lawyer and my lawyer to work out."

"Now let's talk about the price. How much do you think these buildings are worth?" "Include this building or not? Barr's letter didn't mention any specific figures. He promised to buy this building within six years, but this wicked man never mentioned any specific figures... This is your idea, Yes or no?" "yes." "You're considering a package deal for all seven buildings, including this one, aren't you?" "yes." "I remember, I mentioned a total value of all these buildings." "Forty million. At that time, my answer was thirty-five million. If I say thirty-seven million now, how do you agree?"

"This is a reasonable price, and other directors may accept it. Klimrod!" "Ok?" "If I'm not wrong, you already have a buyer in mind, don't you?" Reber looked at the ground, then lifted his eyes and smiled. "It's me," he said. "I want to buy these buildings from you." Fellowes laughed. "But I've barely met you. If I do miss it, I'll spend the rest of my life hating you! What advice do you have?" "I hope to pay a fixed price to get a one-year option right starting from tomorrow. The price of each building is not listed in the contract, but there is a substantive express stipulation: the selling price of the Liulian building is the same as the price of this building. Combined, the total sale price is $37 million."

"Klimrod!" "Ok?" "Would you like to come and work with us?" "I don't want to buy a bank just yet, but thank you anyway." On October 26, the deeds for the vacant lot on Pine Street were signed by a company (of which Diego Haas was not terribly surprised to find himself its general manager) and formally handed over to Hunter Manhattan. bank. The next day, with $2.6 million (Daniel Hassendorf's commission already deducted), Reb Klemmerod delivered $180,000 through another firm still represented by Diego Haas. A deposit of US$150,000 (5% of the total price of 37 million) was used to obtain the option to buy and sell seven buildings of Hunter Manhattan Bank.

Another day later, the same "leverage" principle is still used (you haven't bought something from A, but you can sell it to B after paying a deposit of 5% or 10% of the price, and in B After paying the money, you pay to A), and Reb Klimrod got another two-core building belonging to Harvey Barr's Industrial and Commercial Bank. To do this, he used the name of a third company, this time Daniel Hassendorf.He paid $325,000, 5 percent of Balso's price (6.5 million), for an eight-month option. In other words, eleven days after he launched his Wall Street offensive, he was the legal owner of nine buildings (at least he could resell them for any price), in addition to repaying the loan that the Bank of Newark had extended to him, and He started out completely self-made, but didn't owe anyone a dime.

He has $425,000 left.And it's not just these buildings... "It's called 'snatching the chair,'" Hasendorff said.He was always in a good mood because of the steady flow of commissions. Diego didn't understand.So the senior broker explained to him.Especially in real estate transactions, this term refers to sought-after real estate, like a child's play seat. With these first chairs up for grabs, the symphony begins. The decision of the Hunter Manhattan Bank, echoed by Barr's ICBC, set off an unstoppable movement.All of a sudden everyone felt free from restraint.There was a saying back then that it was time for Wall Street to 're-stabilize'...

Fifteen Broadway was sold to J. P．Flint Bank.Initially, Alexander Haynes declined, claiming he didn't need the additional acreage.But when he learned that Mutual Guarantee was considering merging with Flint Bank, he backed down abruptly, and the deal was done three days later.Hasendorf employs an argument, probably devised by Klimrod, although Hasendorf is smart enough to have figured it out himself: "Wait until the mutual guarantee company proposes to merge with you, Your position will be strengthened, and you will need bigger places." Diego wrote "$21.5 million" in one of his account books.From the whole set of advanced financial management, he memorized a number: 37 million.That's the total price Leiber promised to pay for the seven buildings that Henry held to Manhattan Bank.

"Three thousand seven minus two thousand one hundred and fifty, and there's still a difference of . The next five buildings will all be profitable!" His eyes met what seemed ridiculous to the gray eyes. "I still don't understand anything, do I?" he asked. "The same can be said." Harvey Barr agreed to buy Hunter's old building for seventeen and a half million.Hasendorf, who was getting double commissions for the quality of his service, made an additional $400,000 by selling the first two buildings in the Hunter Manhattan Bank lot. The one labeled building three in the lot sits on Beaver Street.Instead of selling it, Klimrod traded it for the two smaller buildings that the Bank of New York had offered him, as long as it would let them build another building next to the Beaver Street building. A new building, then agreed to exchange. The building next door was occupied by a branch of the Washington Trust Company. Klimrod suggested that the Washington Trust, as Hunter Manhattan Bank was about to do, consolidate its divisions onto three small sites in William Street, which Klimrod was about to buy because the occupants The Island Trading Trust and the Silver Company of New York City have accepted his proposal to move to the two buildings on Broadway. Those two buildings are expected to be vacated because Atlantic Life Insurance has agreed to move to the former Continental New York Citizens Bank on Wall Street, which is about to move to two buildings on Nassau Street where Klimrod has paid a deposit for options. One (what a wonderful coincidence!), those two were also within the scope of his deal with the Bank of the City of New York, and as for the other... "Is there anything else you don't understand?" Reber asked Diego. "Just one thing," said Diego, with his mouth full. "How many companies am I the manager of?" "Nine families." They were standing in front of the New York Stock Exchange gobbling hot dogs from Yava Foods Corporation. "Nine? Didn't we have ten last week? Am I going downhill? Or are we in a depression?" "Yesterday you disbanded three families." "Then there should only be seven." "But you founded two more this morning." "Brother, I'm too busy!" Di Jigo sighed.