Chapter 201 Corrosion Spreading from Top to Bottom
The first light of dawn peeks through in Thunder City's Queen's District, at the elegantly decorated tea shop entrance. Although the sky is not yet fully bright, the air is already thick with excitement and tension.
A mixed group of people gathers on the street outside the tea shop. Some wear refined wool coats, while others are wrapped in slightly worn-out jackets.
The name of the tea shop is "Red Leaves." It used to be a poorly managed clothing store until a mysterious businessman bought it and changed the business to selling black tea, offering hot black tea at 1 silver coin per cup.
1 silver coin per cup is an exorbitant price, even in "Diamond City" where mattresses can sell for 20 gold coins. After all, the tea shop on the next street charges only 5 copper coins and even includes a spoonful of sugar and a small piece of sponge cake or a finger biscuit.
Those who can afford this expensive price mostly have servants attending to them and wouldn't need to stand on the roadside blowing on their tea cup.
All competitors were certain the shop owner would incur huge losses, yet the situation turned out to be quite the opposite.
Not only did they attract customers who used to buy 5 copper coin tea, but they also lured those who bought 5 gold coin tea.
"Latest bid 11 gold coins and 50 silver, seeking 100 shares, does anyone want to sell? Or is there anyone offering higher?" A young shop assistant stood on a high stool, his voice booming as he addressed the thronging crowd.
Behind him was a blackboard with numbers, listed quantities, and prices, resembling a grain market notice board.
The number was actually an order number. Each customer who consumed at least one cup of black tea could receive a number for placing an order... equivalent to an ordering fee.
The people standing in front of him wore expressions filled with excitement and anticipation, murmuring conversations, and occasionally glancing at the blackboard behind him.
Aside from the bids, the chalk wrote clearly next to it the latest transaction price for Colin Mining Company's stock—11 gold coins per share, a full gold coin increase from the "issue price!"
Moreover, there was demand but no supply!
So far, only bids were posted on the blackboard. No sale orders had appeared yet, because once they did, they'd be snapped up by zealous buyers.
"Any higher prices? Or would that generous gentleman be willing to pass on his shares to those in need?" The assistant cried out, wiping the heat sweat off his forehead with the hand holding the chalk, hesitating whether to step down from the ladder.
The surrounding commotion grew louder.
At this moment, an elderly gentleman, face full of wrinkles, took off his top hat as if making a decision, straightened his arm, and shouted loudly.
"I offer 12 gold coins! I want to buy 200 shares! Please write it down for me!"
As soon as his words fell, the crowd was like a boiling cauldron, with startled eyes looking at him, every face showing a different expression.
Some thought he was mad, others believed he was making a strategic play, or simply envied his wealth.
A nearby plain-looking businessman immediately squeezed forward and hurriedly said, "I have 150 shares in hand, willing to sell them all to you for 12 gold coins!"
150 shares were sold at 12 gold coins!
The two of them signed an agreement under the witness of the crowd and then went together to the nearby bank.
The shop assistant wiped the numbers off the blackboard, changed the 200 share bid order to 50 shares, and recorded the transaction next to the blackboard.
Although these stocks are registered coupons, the shares released to the market are registered either under the bank's name or the original major shareholders, and this name, like Colin Company's account, can be changed at any time.
However, relatively speaking, once the name is changed, one must be prepared for long-term holding, or change the name back to the bank during the next transaction.
In this time before the Exchange was established, the bank played the role of guarantor and certifier here, ensuring the coupons held by the customers were real, and every transaction traceable.
Looking at the latest transaction price, the people watching the excitement around the tea shop showed expressions of amazement, and when they looked at the elderly gentleman in the top hat, their eyes were filled with envy.
As for the elderly gentleman, his face showed an insatiable look, as if he regretted not being able to buy more, not waiting for a generous seller to make a sale.
But he was not the most regretful.
The most regretful were the people who earlier bought stocks for 10 gold coins and 50 silver coins here and hastily posted them for sale at 11 gold coins.
Although they made a considerable profit, as they watched the board prices soaring toward 12 gold coins, regret brewed in their hearts for selling too soon.
Come to think of it, how could a company that even the Andes family favored be worth so little?
"I'm so foolish..." the man in the wool coat said remorsefully, beginning to search the crowd for the person who originally bought shares from him, pondering whether he could negotiate with them to buy back those shares for a price.
At worst, he'd offer some compensation to that person.
Yet this was clearly a delusion.
After all, the 12 gold coin bid was still posted on the blackboard, and the people standing around weren't blind, how could they let him buy back at a price lower than what's on the board?
Not far from him, a young man looked flushed with excitement, holding up the ledger and shouting loudly, "Under the witness of Saint Sis, I only want 100 shares, just 100 shares! Would any kind-hearted person be willing to sell them to me for 11 gold coins and 50 silver? Please, I beg of you!"