America 1919

Chapter 518

?Chapter 518: 192.

Where did Donnie’s funds come from?_3 Chapter 518: 192.

Where did Donnie’s funds come from?_3 “Should we take a shot at ABC’s stock right now, just in case Donnie Block wins?”

A trader posed such a question.

Following his question, the surrounding traders immediately looked at him with disdain.

Although Donnie Block was still buying ABC stocks at that time, in everyone’s heart, it was a battle doomed to be lost.

Donnie was facing what could be described as a fully developed giant, how could he possibly win.

This was Wall Street in the United States at the time, known as a game for the few, and Morgan, Rockefeller, and Mellon were the cream of that crop.

Whatever they decided never failed!

It wasn’t until Franklin Roosevelt took office, promulgated the “Glass-Steagall Act,” causing Morgan to split up, and severely hitting Wall Street’s financial inner circle, that some improvements were made, and only a few at that!

In the eyes of everyone at that moment, Donnie’s resistance was essentially against the entire Wall Street system.

“Slaying dragons as a youth is not so simple!”

The whole morning was spent in such a tense tug-of-war!

By the time of the morning closing, someone tallied that Donnie Block had already spent 2 million US dollars just that morning, setting a record for the most money spent on a single US stock in one day!

And yet, even so, ABC’s stock price still dropped below its initial offering price, closing at 57 cents per share in the morning!

Inside a Western restaurant nearby the NYSE, this restaurant sat on the 33rd floor, and sitting here, one could see the entire Manhattan skyline through its floor-to-ceiling windows.

But in a few years, that might not be possible!

This spot was also where senior managers from various Wall Street securities firms liked to have lunch, enjoying the feeling of looking down on everything.

Today, however, the people who appeared here were the ones they had to look up to.

Donnie Block, Helen Taft, young John Rockefeller, George Whitney, William Mellon, Owen Young, and Charles Merrill were all seated by the window, indifferent to the gazes of the entire restaurant.

“Two million dollars, that’s nearly reaching your limit, isn’t it?”

Young Rockefeller cut into the salmon on his plate and asked Donnie with a calm expression.

“You can keep trying, I’ll continue to buy back.

I just want to know, if by any chance I do manage to buy back all the stocks from your hands, what will you use to repay the stocks due?”

Donnie put a piece of well-cut quinine steak into his mouth.

“Instead of worrying about something that will never happen, wouldn’t it be better to think about whether this is really worth it for you, Donnie?

We only wanted you to release some of your shares in ABC, why do we have to go this far?”

George Whitney still hoped the battle would end as soon as possible.

Their goal was not to destroy ABC but to make Donnie give up absolute control over it!

Donnie resolutely said, “I’ve already told you all before, if I choose to back down this time, I believe your appetite will only grow.

Then I can only continue to choose to back down, and such retreats will appear endlessly until ABC truly changes hands!”

“That’s just your opinion.

We’re partners; we wouldn’t do that!” Young Rockefeller said earnestly.

Donnie shook his head, “I only trust what I see and analyze, and I also believe that what I hold in my own hands is real.

Others’ promises will always just be just that, and the initiative would no longer be in my own hands!”

Seeing Donnie’s unyielding stance, the people across shook their heads, and young Rockefeller said, “It seems we’ll have to keep fighting, Donnie.

I hope you can bear the losses that will follow!”

Their conversation ended there.

The whole lunchtime passed without any further dialogue!

Afternoon came, and the battle continued!

If the 2 million dollars spent in the morning was just an appetizer, then the afternoon was a tempestuous battle!

Barry Company, Fleming Securities, and many other Wall Street brokerages joined the ranks of selling ABC shares.

On Donnie’s side, Jesse Livermore led a group of retail investors who began frantically buying the stocks the other side was selling.

“How much now?”

“We’ve reached 5 million already!”

“6 million now!”

By just the middle of the afternoon trading session, Donnie Block’s side, including this morning’s purchases, had already spent 6 million dollars!

“How is this possible?”

In the break room, young Rockefeller and the others finally showed some unease.

According to their plan, the cash Donnie could mobilize had a ceiling of about 5 million dollars, but now it was already over by a million.

Now they were really worried.

Maybe Donnie did have some backup plans.

But at that moment, facing such circumstances, it was impossible for them to back down, and far from it, they even began to offload massive amounts, with Barry Company directly throwing out 1 million dollars of ABC stock.

“I want to see just how much cash you actually have on hand, Donnie!”

George Whitney could no longer stay calm.

At this point, even if they wanted to back down, it was impossible.

If they chose to back down now, the situation would immediately turn around, and Donnie could take advantage of the stocks in his hands to counter-threaten them!