by J M Bannon
“A dragon?” asked Rose.
“What, you think your culture invented dragons? You should think about getting to the Middle Kingdom, you would pick up a thing or two to put in your steamer trunk of enchantments,” replied Jimmy.
“When were you there last?” asked Rose.
“That’s not the point, just because I was born and raised here doesn’t mean I don’t have respect for my heritage,” he replied.
“So, that is the one thing you respect?”
Jimmy bit his lip “How about you help me figure out who the fuck is sending the triad boxes with invisible dragons with the ability to kill people.”
“Who is this Fox King?”
“The Fox King has criminal interests that have been in conflict with the emperors and the triads for generations. I thought him a legend like Robin Hood, except The Fox King doesn’t give a fuck about the rich or the poor, just stealing shit and causing mayhem. If you believe the myths, the Fox King is immortal, a cursed soul trapped on earth to act out on behalf of the demons that give him that immortal life,” answered Jimmy.
“There tends to be some truth in all of these tales,” confirmed Rose.
“I can tell you this, the Fox King, or pirates and brigands saying they are agents of the Fox King, have been a thorn in the side of both the Queen and the Emperor. He has the largest pirate fleet in the Straits and has been raiding ships since before Ang was alive. I always thought he was at best just a notorious pirate or a way for those brigands to scare sailors, but from what you and Ang are saying Weng was the victim of one of his attacks.”
“Ask him why he thinks the brothers Lo are the target,” Rose tapped the cloth covered box with her gloved hand.
Jimmy and Ang chattered.
Ang turned to Rose, “Opium.”
* * *
2:20 P.M. Weng Lo’s Tien Gow Parlor, London, England
Rose had left, and Jimmy sat with Ang Lo on the couch in silence. Finally, he broke it with the question that had him most concerned.
“Why have you come here, Master Lo?” asked Jimmy.
“You can dispense with the pleasantries, Mr. Lin. I am your guest and concede you are now the director of operations here in London,” acquiesced Ang.
Jimmy lapped it up.
“I was concerned you and Han would think I had something to do with this.” said Jimmy waving towards Weng’s old desk where they had just witnessed Rose’s levitation.
“We have always had our eye on you; your ambition was on the one hand, concerning and on the other, a source of our mutual prosperity. I must warn you that my brother’s demise, while fortuitous for you in opening this tong’s leadership draws you into a much bigger dilemma.”
“Don’t you fucking worry Master Lo, I’ll find out who’s behind this and make sure that the retribution is the stuff of legends,” promised Jimmy.
“I know who is behind the murder.”
Jimmy furrowed his brow; this was a little confusing. When it came to pure manpower Ang had Han and Lo beat by a factor of five. Furthermore, he could draw on some of the most desperate people willing to kill for a bowl of rice and for the fortune he could give they would put aside any remnant of a moral code to carry out Ang’s savage orders. Why they were not already at war with Weng’s killer was baffling him.
“I’ll be frank with you Master. While I support the old ways, I’m of a new generation. I was born here in London. That being said, I know that strength comes in numbers and you have my commitment to revenge for Weng’s death. I will be happy to be part of the Triad, but I can’t pledge my fealty to you, nor do I want to have a war with you and your brother. I want to be your partner. As your partner, I have to ask what the fuck are we waiting for if you know who did this? Why aren’t we making examples of our enemy?” Jimmy waited to see the repercussion of this bold statement.
“The underworld has had an uneasy peace for years. My brothers and I have been prosperous and made it our business to expand into the world; Weng here in London and Han in America. We kept our ties strong and built a unique organization. The issue is that we have a past and that past has come back to haunt us,” said Ang who stood up and walked over to his brother’s desk.
“I grew up not knowing I had two brothers. I didn’t know my real name or that I was a triplet. I was sent to India and like my brothers grew up in an orphanage. I returned to China to learn my past. Returning to my home village I discovered my family secret. My mother sent us away after my father was killed. He was a low-level gang member who had crossed another gang. The problem was that this tong looked to stop my father’s bloodline; to kill all his son’s. So, my mother saw the only way to spare us was to send us away. I eventually found Weng and Han and shared with them our history. Interestingly, Weng had already taken up our father’s ways and was involved with the underworld here. The irony was I had begun working my way up as an official in the Qing emperor’s ministry for internal peace. My job was to root out the criminal element, and my ambition to use my job to find my father’s killer drove me to the top,” finished Ang as he sat down in the chair behind the desk.
“You're a constable?”
“In a manner of speaking, think of it more like the cross between a civil servant and minister of your parliament,” said Ang.
“That is fucking brilliant, hiding out within the police, you build China’s most fearsome tong,” Jimmy gushed, he was impressed with how Ang worked the system.
“The intent wasn’t to do so, the purpose was to revenge our family. The result was that in successfully killing those responsible for my father’s murder we have plunged into a spiral of revenge. We were savage in our response to our father’s murder. Opposing Tongs eliminated, and bloodlines eradicated. The Lucky Three triad operated in peace under my wing as leader and mole within the Emperor’s security service. That was until I heard of the Dowager.”
This was news to Jimmy. He certainly didn’t know of anyone with that name in London.
“The attacks came swiftly, and my organization was on its back foot from the start. My role in the government gave me little insight to help my brothers but became my escape. I learned all too late that our enemy was one of the wives of the man who murdered my father. She is as patient as we were and has partnered with the Immortal Fox to eliminate us and all other criminal elements on the mainland. This war has now spilled overseas,” said Ang.
“I’m sure my men are up to the task, and you can count on us,” offered Jimmy.
“I think your men will be useless and your White Witch is our only hope of help. The Dowager is rumored to be a practitioner of black magic and the Immortal Fox is a legendary pirate who has bargained with the sea to live forever.”
Jimmy paused, he was about to tell the man he was full of shit, but Rose had already confirmed that there was a supernatural cause behind Weng’s death. “Rose had a vision of Weng’s death, it was some type of spirit dragon that drowned him alive. So, the Dowager was here and cast this spell onto Weng?”
“The Dowager, or one of her handmaidens; they are all practitioners, and I believe she sent them out to deal with us. I am certain there is a handmaiden who has pledged to give her life to take mine,” said Ang.
“And mine?” asked Jimmy.
“No, they will not see you worthy of such treatment, but she will make sure that all of the associates of the Lo brothers and all related bloodlines come to an end.”
4
Monday April 15th 1861
9:16 A.M. Chilton House, City of London, England
"Why are we not meeting at Whites?" asked the American as he entered the room.
"Randal, this is a formal presentation the board room is the appropriate location," replied Sir Lester Chilton.
John Sheppard watched as Mr. Randal Strathmore, Chilton Company's only American partner handed his coat and tall top hat to a clerk. Sheppard wondered why tall thin men insisted on wearing tall hats. Of course, the real reason for a meeting at Chilton House r
ather than at the exclusive Whites was that Sheppard insisted his right-hand man attend; a Sikh, and Chilton would never think of bringing the turban-wearing brown skin into his prestigious club.
Mr. Balwinder Jagal was an educated man and Sheppard was certain, as smart as any of Chilton's clerks and maybe some of the partners. Sheppard had never conducted business with Chilton Company, but his father always spoke highly of the firm and there was no disputing the merchant bank’s global reach and experience.
Sheppard stood from his position at the head of the conference table to greet Randal Strathmore.
"I apologize Mr. Sheppard. my airship just arrived, and I came directly from the aerodrome. Each time I return to London I am convinced traffic cannot get worse, yet it always does” said Strathmore.
"Can we begin now?" asked Sheppard.
"Ah, a man with no time for idle chatter," said Strathmore giving Sheppard a smile. Sheppard did not return any emotion.
"Please do," said Chilton.
Sheppard cleared his throat, "The Chilton Bank and my father had a long-standing relationship, starting well before my father was the chairman of the East India Company, before I was born. Your firm has been banking in the Orient, in one form or another for over one hundred years. Sufficive to say, Chilton is the first firm I would go to with this opportunity." This would be as close as he came to make a compliment.
“This time is no different. My associate, Mr. Jagal has devised a compelling enterprise and as such, I would like him to present it to you. He has prepared documents for your review," finished Sheppard as he sat in his chair.
Jagal stood up and began distributing portfolios. As he handed a binder to each of the partners of Chilton Company, they each untied the ribbon and opened the black cover to reveal a stack of printed documents.
"The memorandum before you outlines the financial transactions and returns for the creation of an entity known as the Poseidon Company. Poseidon will be the world's largest private enterprise and is suitably named because where ever the trade waters of the earth go the business will be in operation,” Jagal paused to let that settle in, then he continued.
“The trust will hold companies that conduct international trade and transport of commodities. The real feat will not be the size or the scope of the operations, but the corporate and financial engineering to bring this enterprise into private hands. What we ask the men at this table to endeavor to do has never been attempted and until recently could not be done," Jagal's English was drenched in a Punjabi accent as he spoke.
Sheppard watched the financiers faces, he always enjoyed seeing them go from wondering if Jagal was his tea boy to understanding that Balwinder Jagal was one of the sharpest finance minds in the Empire.
"Gentlemen if you turn to page seven you will see the listing of the equity and debt positions that Chilton Company and its syndicates have in the Hudson Bay Company. I doubt that any of you are surprised to see that if consolidated, you hold the largest position in both forms of capital finance.”
“On page eight you will see a schedule for the East India Company, here are the estimates of the dividend due from the crown to you and your investors since the nationalization of the East India Company.
“With the British Raj, the Crown has taken over the civil affairs and all but left the East India Company to die..." Chilton interjected.
“Some would disagree with that assessment. Getting out of the business of governing has led to competition and smaller, healthier enterprises. Ones that we are invested in,” said Owens.
"You may be right sir," confirmed Balwinder.
"There hasn't been a good hand at the tiller since my father ran the Company," interrupted Sheppard.
Jagal continued," Sir John Sheppard Senior, was the only man ever to run both the East India and Hudson Bay company. Both companies were at their best under the chairmanship of Sir John and as part of managing those two enterprises he was able to secure large returns for the shareholders of both companies..."
Sheppard interrupted again, "Now the two companies no longer have monopolies from the Crown, they lack government protection and suffer from poor leadership. As the largest shareholder in both cases your profits are subject to the whims of buffoons selected by Parliament. They continue to appoint those who support their politics and lack the knowledge of commerce,” said Sheppard in a raised voice.
"Between your interest and Mr. Sheppard's interests in those two companies you hold a total of eleven percent of the two companies’ equity," said Jagal.
"You're looking to merge Hudson Bay and the East India Company. The Crown will never allow it!" announced Owens in a fluster.
Sheppard could tell Owen’s had jumped ahead in Mr. Jagal's prospectus.
"You are correct Mr. Owen's. The Crown would either summarily say no or overvalue what they currently ignore, but I plan to buy those two companies and create the largest private commercial holding trust with you as major shareholders. The best part is at the price we will pay are only seen on the steps of the courthouse at a debtor’s auction. Listen to Mr. Jagal's strategy you will see how your firm will profit greatly on this transaction, as the lead investment banker" said Sheppard. He signaled to Jagal to proceed.
"Mr. Sheppard, while we have interests across the Empire, frankly across all governments we have been looking to reduce our exposure to colonial trade and provide capital for innovators such as the Mechanists," interrupted Chilton.
"I'd wager your Mechanists have plans to export their tinkering abroad. Wars require war machines," said Sheppard.
"If you go to page twenty-one you will see the debt schedules for the two companies. Your firm represents the largest syndicates holding the two companies’ debt. There is far more outstanding, but your firm currently has the largest exposure to the two companies’ ability to service that debt. On page twenty-two, I have outlined the schedule of debt issuances over the years with the interest payments and guarantees. Note the amount of this debt the exchequer guarantees either by direct issuance or debt assumed by the British Raj as part of the Government of India Act. Meaning by assumption of the government of India from the EIC the Crown took on the guarantee of those bond issuances. The exchequer is the second on thirty-two million pounds sterling,"
The three men poured over the ledger sheets occasionally looking up to confirm to the speaker to continue.
Jagal finished, "We look to Chilton to take the lead in raising public funds through the listing of the Poseidon Holding Trust with Mr. Sheppard as the chairman. Then the Trust would hire Chilton House to discretely consolidate the Crown backed debt of these two companies into the hands of one holder.”
"Then as the largest debt holder, I can force the Crown to sell both companies to the Trust," injected Sheppard.
Chilton held up a sheet from his folio, "You suggest we raise this amount for a new enterprise with a chairman that has never held such a position before?”
“That is correct,” said Jagal.
“We will never be able to perform this transaction on the exchange, and what will stop an act of Parliament to thwart this plan once they get wind of it?" argued Owens.
"Let's discuss the fees," said Strathmore.
Both of his partners stared at Strathmore.
Jagal took over, "I was thinking a quarter point. I suggest looking at page forty where I outline the projected profits from fees, exchange rates, losses on the debt and eventual returns after the consolidation and further recapitalization of the trust."
"You’re not serious Randal? We can't bamboozle the Crown out of the largest enterprises man has ever created," Owens stated, jumping up to make his point.
"They are not the largest. The Dutch East India Company was far larger in the Seventeenth century and like the British government, they killed the golden goose. Mr. Owens, in three years’ time those Hudson Bay bonds you sit on will be worthless and England will be in a bank panic. I am not stealing a company I am saving a country, and in the process
, I will right the ship, known as the East India Company. Read Mr. Jagal's prospectus, check his numbers, and you will see that Chilton House has the most to gain, more than me. If you’re not interested then you can get in line for a lifeboat when that ship sinks," Sheppard stood up and began to make his way to the door.
Sheppard stopped just before the door with his back to the men. He could hear Balwinder collecting his papers. Balwinder had seen Sheppard do this before and knew he was to stop and follow Sheppard out without a word.
“America should be where you list, said Strathmore.
"New York?" questioned Owens, "Randal you're mad. How will you raise that kind of money in New York, with a war no less? That market cannot support a subscription of this magnitude; besides they will be coming to us hat in hand soon enough looking to fund the destruction of each other."
"This will be the largest public float in history. No one market can handle it, but every bourse will want the listing. New York, Richmond or New Orleans; we will have to see where the Confederates choose to put their financial market. There will be a lot of money looking to get out of the south,” said Strathmore.
Sheppard turned to watch the partners. Mr. Jugal stood looking to him for direction. Shepard gave him a slight nod to wait.
"Randal don't tell me you support those slavers," said Owens.
"This has nothing to do with politics, Mr. Owens, this is about money and what is at stake. Mr. Jugal has presented a memorandum that plays to our greed, but the truth of it is that our firm is in a precarious position. I was worried before I came into this room, and now doubly so. Mr. Sheppard is about to cross the street and get the Rothschilds or cross the Channel and ask Foucard or the Gröhls to transact his business. We will then be on the losing end of those trades, this will be compounded by the twenty-three million dollars we have loaned in the American market that is either secured by cotton shipments or human chattel. If the Union quells this rebellion and those slaves are freed, after destroying those southern plantations, our collateral is gone. Those plantation owners have no means to repay what they owe. Now we have the option of taking lead on a historic financial venture and get the lion's share of fees or we can worry about what your cronies in Parliament think," Strathmore implored.
