Chapter 835: 286, the ninth consortium

Donnie has always believed that interest is the fundamental element that tightly binds a group together.

If there are other problems in the group due to interest, then find a bigger interest for everyone to share, and the previous problems will naturally cease to exist!

So now, Donnie has to present a bigger interest to attract Morgan’s attention.

Jack Morgan looked at Donnie curiously; although he didn’t yet know what interest Donnie was talking about, he believed that the interest, mentioned by Donnie at this moment, must be a very enticing one.

Old Rockefeller and Junior Rockefeller felt the same!

Under the watchful eyes of the three, Donnie said, “Although Morgan has now controlled the New York Central Railroad Company, and together with the railroad company controlled by Rockefeller, they have completed control over more than 50% of American railroads, we can actually take even bigger steps.”

Moreover, General Electric is currently one of the largest diversified companies in the United States, but it is not without competitors, such as the Westinghouse Electric Corporation!”

Talking to intelligent people, the most enjoyable part is that they can understand what you mean almost instantly.

Donnie just gave a prefix, and Jack Morgan and Old Rockefeller already figured out what Donnie was indicating.

“So, you mean to take over the entire Kuhn, Loeb & Co. consortium?”

Jack Morgan thought of Donnie’s plan, but still couldn’t help feeling a bit surprised.

You must know that America at this time does not talk about ten major consortia, but rather about eight major consortia!

These eight consortia are Morgan, Rockefeller, DuPont, Mellon, Boston, Chicago, Cleveland, and Kuhn, Loeb & Co. consortium!

Donnie’s eyes were now directly on one of the eight major consortia, the Kuhn, Loeb & Co. consortium, which had to be acknowledged as a bold move.

The main structure of Kuhn, Loeb & Co. consortium was founded by Jewish people, A. Kuhn and S. Loeb, born in Germany, forming the Kuhn, Loeb & Co., a bank engaged in credit and underwriting securities business.

Initially, it mainly operated German capital’s investments in American securities.

Latterly, they invested in railroads and competed with Morgan in controlling railroads.

Up until now, the Kuhn, Loeb & Co. consortium has controlled major railroad companies such as the Pennsylvania Railroad Company, Southern Pacific Railroad Company, and together with other consortia, controlled several other railroad companies like the Union Pacific Railroad Company.

They have also invested in many industrial and commercial enterprises, such as Bethlehem Steel Corporation, Kennecott Copper Corporation, Westinghouse Electric, General Dynamics, etc.

However, during World War II, their business in Germany was severely affected, leading to several of their pillar companies being acquired, which subsequently led to the Kuhn, Loeb & Co. consortium exiting from the ranks of America’s eight major consortia after the war.

Following the deaths of A. Kuhn and S. Loeb, Jacob Schiff, a Jewish son-in-law of S. Loeb, took over the entire Kuhn, Loeb & Co. consortium.

“Donnie, this is not a simple matter!”

At this time, Old Rockefeller spoke to Donnie in a much kinder tone!

Jack Morgan thought the same.

“If possible, Donnie, we at Morgan would like to target the Kuhn, Loeb & Co. consortium even more than you, but it’s not an easy thing!”

In the time of World War I, Tsarist Russia had also massacred Jewish people, which naturally displeased Jacob Schiff, leading him to view the Tsarist government as “an enemy of mankind.”

In revenge, during the Russo-Japanese War from 1904 to 1905, he provided financial support to Japan.

By 1914, with the changing international situation and American hostility towards Germany, the proud Jacob Schiff had to soften his attitude.

But it was just a softening, and that’s why at that time Jacob Schiff wrote a letter to Morgan, bitterly criticizing Morgan for supporting Tsarist Russia!

Donnie said, “There is nothing in this world that cannot be done, it just depends on whether or not you want to do it. Imagine, if Venus Bank, Morgan, Rockefeller, along with Mellon, jointly initiate a takeover of Kuhn, Loeb & Co. consortium, even with their influence, they would not stand a chance against us!”

Donnie’s words were enticing to them.

The current America doesn’t talk about eight major consortia, but nine major consortia.

Because a new player, the New Jersey Consortium, has been added!

Now, among these nine consortiums, four major consortiums launching a takeover of another consortium have a very high chance of success!

“It’s not that simple!”

Old Rockefeller at this time expressed his opinion, “The Kuhn, Loeb & Co. consortium has very close ties with Europe’s Rothschild family. If we launch a takeover of Kuhn, Loeb & Co. consortium, it may well provoke involvement from the Rothschild family, and then it would be a fierce battle!”

If Morgan is the largest private bank in America, then the Rothschild Bank of the Rothschild family is the largest private bank in Europe.

France, United Kingdom, and Austria all have Rothschild Banks controlled by the Rothschild family.

Donnie waved his hand: “You don’t need to worry about this, taking over Kuhn, Loeb & Co. consortium is destined to be a long-term matter, and I believe that during the process, even if the Rothschild family wants to help Kuhn, Loeb & Co., they won’t have that much energy!”