Chapter 1385: The Morgan Consortium must step down

Leonard Mellon found Xia Yu in the hospital, where Xia Yu was accompanying Cindy to visit the still unconscious old Mellon.

'Leonard, what's wrong?'

'Have you encountered any more difficulties?'

Seeing the annoyed expression on Leonard Mellon's face, Xia Yu took the initiative to follow Leonard Mellon to a chair in the aisle and asked about the reason.

Leonard Mellon told the truth about the situation: 'After implementing that strategy, the situation has improved a lot.'

'Especially after the Cleveland Consortium backed off, it drove many forces to follow suit.'

'But there is still one major obstacle, and that is the Rockefeller Consortium.'

'David Rockefeller has never given up infiltrating us, causing us a lot of trouble and pressure.'

Xia Yu's expression also became much more serious. After all, David Rockefeller can be said to be the figure standing at the top of the United States.

'What exactly is the situation? Don't worry, there will always be a way,'

Xia Yu said slowly, and Leonard Mellon was also influenced by his calm and composed tone.

Leonard Mellon took a deep breath and continued, 'In fact, it is mainly the fault of four companies.'

'They are the Bank of New York, the National Bank of Pittsburgh, Martin Marietta Corporation and Westinghouse Electric Corporation.'

Upon hearing this, Xia Yu couldn't help but frown.

My goodness, David Rockefeller is ruthless, these four companies are the key to the Mellon financial empire!

"Currently, Chase Manhattan Bank is doing its best to buy up the shares of the Bank of New York, while the J.P. Morgan Trust Company of New York is doing its best to buy up the shares of the National Bank of Pittsburgh.'

'Lockheed has issued an offer to Martin Marietta to acquire it in a cash-and-stock deal.'

'As for Westinghouse Electric, the Rockefeller family is looking to increase its stake and gain full control of the board.'

'Martin Marietta has always been controlled by our family, with a cumulative shareholding of 42.3%. Lockheed is a company controlled by the Rockefeller consortium. Now that they have announced a merger, it will certainly be very attractive to other shareholders.'

'The Rockefeller family itself holds a cumulative 33.8% stake in Martin Marietta.'

'If the merger is carried out in the form of a cash-and-stock deal, then we will be marginalized, and the merged company will completely implement the will of the Rockefeller family, and our shareholding will be meaningless.'

'...'

As Leonard Mellon told the story, Xia Yu also realized the gravity of the situation.

First of all, Chase Manhattan Bank and J.P. Morgan Trust Company of New York, both of which are commercial banks.

In terms of total assets and deposits, Chase Manhattan Bank ranks fourth in the United States, and J.P. Morgan Trust Company of New York ranks fifth!

Although J.P. Morgan Trust Company of New York is named after J.P. Morgan, in reality, the bank has been under the control of the Rockefeller family since the 1960s, and David Rockefeller even served as chairman of the board for many years!

Among the top five banks in the United States, in addition to Bank of America, Citigroup and Wells Fargo, the Rockefeller consortium controls two of them, which shows the Rockefeller consortium's power in the financial sector.

Now that these two banks are each targeting a bank of the Mellon consortium, it is only natural that they are causing the Mellon family a lot of trouble.

The current situation of Martin Marietta and Westinghouse Electric is essentially the same.

Ultimately, it was because the other shareholders saw that the Mellon family was losing power, and that even in its heyday, it was still far inferior to the Rockefeller family, that they now chose to side with the Rockefeller family.

This caused the Mellon family enormous trouble.

Once the Rockefeller consortium had secured the Bank of New York and the National Bank of Pittsburgh, the Mellon family was placed under enormous pressure.

The previously agreed-upon contraction strategy could not be completely implemented.

Without a complete defensive barrier in place, the future development of the Mellon family and the Mellon financial empire would be greatly restricted.

For Leonard Mellon, he was also unable to establish his authority once and for all this time, which would have a huge negative impact on his plan to become the head of the Mellon family.

So he couldn't help but be nervous.

'Xia Yu, what do you think I should do?'

Facing Leonard Mellon's burning gaze, Xia Yu lowered his head and pondered, his brain racing.

Suddenly, he asked Leonard Mellon, 'Leonard, apart from you and the Rockefeller consortium, which party has the greatest influence in the New York Bank and the Pittsburgh National Bank?'

Leonard Mellon blurted out, 'The Morgan consortium, of course!'

'I can't buy the shares held by the Morgan consortium, and neither can the Rockefeller consortium.'

'If I can get the shares of the Morgan consortium, then the Rockefeller consortium can declare defeat.'

Xia Yu understood, and a curve formed at the corner of his mouth.

He asked a second question: 'So for the takeover of Martin Marietta and Westinghouse Electric, the Rockefeller consortium also used the funds of Chase Manhattan Bank and J.P. Morgan Trust Company?'

Leonard Mellon nodded in reply: 'Yes, I have investigated and this is the case.'

'Third question!'

'On your side, do you hold any equity in Chase Manhattan Bank and J.P. Morgan Trust Company?'

This was the most crucial question. Xia Yu guessed that the answer was yes. After all, it was normal for consortia to infiltrate each other, and with Richard King Mellon's wisdom, he would not have failed to think of this.

Sure enough!

Leonard Mellon thought for a long time and nodded again, saying, 'Yes.'

'He holds a total of 4.12% of the Chase Manhattan Bank and 8.72% of the New York Morgan Trust Company.'

'I remember my father telling me that in 1959, JP Morgan was pushed to merge with the New York Guarantee Trust Company, and my father took the opportunity to obtain a portion of the equity at that time, and then successively obtained scattered equity.'

'However, on the surface, he only holds 3.5% of the equity and has obtained a seat on the board of directors, and the rest of the equity is scattered and hidden.'

'Then there is no problem, there is a way!'

Xia Yu said with a faint smile.

Leonard Mellon was very surprised: 'Really, there is a way?'

But he was not stupid. After Xia Yu's hint, he exclaimed in surprise, "Xia Yu, do you mean to use these shares to trade with the Morgan family?'

Xia Yu shook his head slightly and said slowly, "Not only trading shares, but also causing trouble for the Rockefeller family!'

'At present, only the Morgan family can check the Rockefeller family.'

'If John Chris Morgan and David Rockefeller fight each other, the Rockefeller consortium naturally will not focus most of its energy on you.'

'Other fence-sitters will not immediately turn to Rockefeller's side when they see the situation is not good.'

'Of course, more importantly, we can ask the Morgan family to help us check the Rockefeller family. I think John Chris Morgan will definitely be happy to do this.'

'He definitely doesn't want to see the Rockefeller family take control of your Mellon family!'

'Even if there is the slightest possibility, he doesn't want to see it!'

'By the way, I have 3.12% of the New York Morgan Trust Company here, which I can transfer to you.'

'Together with the 8.72% you already own, that makes a total of 11.84%.'

'Morgan Stanley was originally founded with the intention that one day, when the Glass-Steagall Act was repealed, Morgan Stanley would be able to return to the arms of JP Morgan and restore the glory of J.P. Morgan Bank.'

'Although the Glass-Steagall Act has not been repealed, when old Morgan was alive, he always wanted to regain control of the JP Morgan Trust Company. As long as John Chris Morgan can get our shares, he will be able to surpass the Rockefeller family in terms of shareholding.'

'Even if they cannot regain control of J.P. Morgan Trust Company of New York immediately, this is still their greatest hope!'

'This is John Christopher Morgan's Achilles heel!'

Leonard Melon was completely enlightened by Xia Yu's words.

The worried expression on his face disappeared, and he even revealed a relaxed smile.

'So, I'm going to meet John Christopher Morgan?'

Xia Yu nodded slightly: 'That's right!'

'With these chips, you can definitely persuade him, but to maximise the benefits, it depends on your performance!'

'If you want to become the head of the Mellon family, you must negotiate this time, and you must achieve results. The more results you achieve, the more help it will be to you!'

Hearing this, Leonard Mellon was embarrassed and very conflicted.

John Chris Morgan is twice his age, a renowned financial genius, and the head of the Morgan family and the Morgan financial empire!

His father, old Mellon, had met with John Chris Morgan many times before, and Leonard Mellon had been there, too, and had experienced John Chris Morgan's power first-hand.

To let him go talk to John Chris Morgan...

To be honest, he wanted results and a positive impact.

But...he doesn't have the confidence!

The more he thought about it, the more Leonard Mellon became agitated, and he couldn't help but let out a long sigh.

Just as he was in the throes of his distress, he saw Xia Yu, who looked calm and composed, and a flash of inspiration came to him.

Yes, although the younger brother-in-law in front of him was younger than him, he was a figure that even his father had admitted was not inferior to him.

It can be inferred that Xia Yu should not be much worse than John Chris Morgan.

So...

'Xia Yu, why don't you come with me?'