Chapter 166: 165, Having A Good Lawyer In The United States, Indiana Worth Investing In
Two days quickly passed.
With connections in Indiana, Fang Wen had a lawyer he could trust.
Indiana brought someone along and introduced him beforehand in private.
“His name is John Harvey. He graduated from Harvard Law School and is a professional lawyer proficient in various legal fields such as constitutional law, business law, and civil law. More importantly, he has a good rapport with the federal courts and can always bring good news to his employers during trials. His fees are a bit high, three times that of ordinary lawyers.”
Fang Wen was very satisfied with this.
In the United States, a well-connected lawyer is extremely important.
It will be helpful for his future endeavors.
He unhesitatingly chose John Harvey.
John Harvey was tasked with handling the entrusted investment contract with Graham and the debt transfer matters.
Fang Wen, meanwhile, focused on Fisher’s situation.
Indiana’s friends also provided information related to Fisher.
“Are you looking for Irving Fisher? He is a mathematician and economist, the first economics Ph.D. from Yale University. He has published many economics papers and is a very capable person.”
Listening to Indiana, Fang Wen was unsure.
He hadn’t heard any analysts mention him in the future.
Logically, if Fisher had made so many contributions to economic theory, it would definitely be highly publicized.
Fang Wen couldn’t help but ask, “What is his current situation?”
Indiana sighed, “He invented a card index system and founded a company, which later merged with a competitor to become the Rand Corporation. At the beginning of the Great Depression, he borrowed money and invested all his assets to buy shares in the Rand Corporation. As a result, those stocks depreciated significantly during the Great Depression, causing him to lose tens of millions of US dollars. He even lost the money of his wife, sister, and other relatives.”
Losing 10 million US dollars, Fang Wen was utterly astonished.
Even if he added up all his current assets, he wasn’t sure if it would amount to that much.
He therefore concluded that this Irving Fisher was not the person he was looking for.
Indiana then produced a second document.
“This is Philip Fisher. Two years ago, he opened the Fisher Investment Management Consulting Company. But he is very young, only 26 years old, and the company is also very small. I don’t think he’s the one you’re looking for.”
“We’ll know when we go see.”
Fang Wen and Indiana left the hotel.
Fisher Investment Management Consulting Company was not located on Wall Street.
However, it wasn’t far from Wall Street; after all, this was where most investment clients were.
His company was very small, with just one desk and two chairs.
It was just enough for business negotiations.
Despite its small size, the place was popular.
When Fang Wen and Indiana arrived, someone was already sitting opposite Fisher, discussing stock investments.
Fang Wen wasn’t in a hurry and waited nearby.
Their conversation was mainly about the recent stock market, giving Fang Wen an opportunity to hear different viewpoints from an expert and an investor.
The investor said, “Since the President signed the Emergency Banking Act, terminating the redemption of gold with US dollars, I feel like money is becoming less valuable.”
The young Fisher replied, “For the President to use government means to stimulate economic recovery, the US dollar must be delinked from gold. Only then can he order more currency to be printed for various government investments.”
“What effect will that have?” the investor asked, confused.
The young Fisher explained, “The effects need to be sustained. Let me give you an example: expansionary monetary policy will increase the amount of money people have. If people have enough cash on hand, they will find that commodity prices will also rise due to expansionary monetary policy. To avoid their money devaluing, they will start consuming.”
“So, how should I allocate my money now?”
“Allocate some money to cover daily expenses, and invest some in the stock market. In the future, you will profit from this, which will help offset the problems caused by currency devaluation.”
“Thank you.”
The investor stood up and left.
Fang Wen sat in that chair.
The young Fisher looked at Fang Wen opposite him, a new client he hadn’t seen before.
Moreover, he was Chinese. Chinese people nearby tended not to invest, preferring to save their money rather than put it in the stock market, which piqued the interest of Fisher in this unusual Chinese man.
“Hello, sir. What brings you to my company?” he asked.
“Let’s continue our previous discussion. Do you think Roosevelt’s policies will save the American economic crisis?” Fang Wen asked.
“They should, at least they will perform well during his term.”
“I am willing to trust your judgment and invest in the American stock market. Can you manage my account?”
“Manage it? I can accept that.” Fisher realized it was a big business opportunity. He preferred operating accounts and sharing profits rather than answering questions.
“I trust you, but you must do as I say.” Fang Wen said, taking out a piece of paper and placing it in front of Fisher. “You can only choose from these stocks. We will settle once a year, and I will give you a 20% operational dividend. Additionally, I will pay you $3,000 for living expenses, so you can serve me with peace of mind.”
Fang Wen’s words left Fisher in disbelief.
His current situation was not good, especially since it was still the Great Depression, and not many people were willing to invest in the stock market.
He picked up the paper, adjusted his glasses, and read it carefully.
Fang Wen waited, his gaze sweeping across the cramped office.
On the office wall was a constantly updated chart of trends.
The American stock market had indeed fallen terribly.
It had plummeted from 360 points all the way down to 50 points.
He immediately understood how the American people had lived for the past five years; it had been too hard.
So, he would be the one to buy the dip and contribute to the rise of the American stock market.
While he was thinking, Fisher finally made up his mind.
“I agree, but how exactly will we proceed?”
“Not so fast. Two others also need to sign contracts. I need to wait for the lawyer to draft them.”
July 9, 1933.
At the John Harvey Law Office in New York, lawyer John Harvey placed three contract texts in front of three investment experts.
Each contract was different.
Fisher’s was relatively simple, an entrusted investment contract clearly defining the rights and obligations of both parties.
Newman’s contract included their joint interests with Fisher and the debt transfer.
Fisher’s contract was the most complex because the joint account was opened in his name, making him the acquisition entity. The contract had to detail this thoroughly.
The three carefully reviewed the contracts and, after confirming they were correct, signed their names.
Fang Wen signed afterward.
After completing these, he looked at Lin Shuiwang and Zhao Jiu.
The two each placed a small leather suitcase on the table and opened them.
Inside were US Dollar bonds, with a face value of $1,000.
Fisher’s amount was $100,000, and Graham’s was $300,000.
This was the initial investment. Taishan Airlines would continuously inject funds in the future to increase the investment assets here.
Fang Wen still kept a part of his strategy in mind.
Even an investment master needed to be observed for reliability. If too much capital was given at once, what would happen if something went wrong?
Investment matters on Wall Street were now concluded. It would take some time to know the investment performance of the two.
There was no longer any need to stay in New York.
The next destination was Las Vegas, Nevada.
Nevada is in the west, and the situation there might be different from here. To secure some support upon arrival, Fang Wen visited Trinity Church before leaving New York.
He presented his request to the Bishop there.
“I would like to receive assistance from some influential people in Nevada to facilitate some investment projects.”
“Your request will be granted. May the Lord bless you.”
The Bishop finished speaking and said in a low voice, “Here is a letter for Indiana to take to the diocese there.”
Fang Wen took the letter, made the sign of the cross on his chest, and turned to leave.
Exiting the church, Fang Wen gave the letter to Indiana and explained the situation.
Then he inquired, “Have the arrangements for landing the plane in Los Angeles been finalized?”
Las Vegas did not have an airport at that time, so they could only fly to neighboring Los Angeles and then drive.
“It can land as a private plane at Mines Field in Los Angeles,” Indiana replied.
Indiana’s assistance made this trip to the United States much easier.
Fang Wen already had the idea of giving him more benefits and binding him to his small circle.
His identity and influence were too important to him and Taishan Airlines at the moment.
It would be even more effective to cultivate him into a more powerful person.
The four of them drove to the airport, opened the hangar door, found some wooden boards to make a ramp, and drove the Chevrolet sedan into the aircraft’s rear cargo hold.
After doing this, the plane taxied out of the hangar, communicated with the ground staff, entered the runway, and took off into the sky.
The flight path was from New York to Los Angeles, one of the few instances of foreign aircraft flying in US airspace before the future implementation of air traffic control regulations.
The flight range was 4,000 kilometers.
It passed through Pennsylvania – Ohio – Indiana – Illinois – Missouri – Kansas – Colorado – Arizona – California.
A total of nine states, crossing the United States. It was estimated that after World War II officially began, the United States, sensing crisis, would not allow foreign aircraft to fly so freely in its skies.
Fang Wen also cherished this opportunity to fly, even buying a Kodak Beau Brownie camera for aerial photography.
The Beau Brownie camera was a bestseller from Kodak produced in 1930.
And it was quite distinctive.
The plane left New York State and entered the airspace of Pennsylvania.
Fang Wen was flying the plane while also figuring out how to use the camera.
The first step was, of course, to load the film. This required opening the dark slide box on the back of the camera and correctly loading the 120 film into the film holder.
The orientation had to be correct, with one end clipped in place.
Then, by turning the knob on the outside of the camera, the film inside was manually advanced.
After doing this, he raised the camera, focused, and pressed the shutter.
After taking one picture, the knob had to be turned to advance the film to an unexposed section.
This thing was quite interesting.
Fang Wen had to pilot the plane and couldn’t photograph constantly, so he raised the camera and asked, “Who wants to try?”
“Me.” “Me.”
Lin Shuiwang and Zhao Jiu eagerly volunteered.
“I’ll teach you how to use it first, and then you can take turns taking pictures.”
Fang Wen had them come over and carefully taught them how to use the Beau Brownie camera.
The two, having learned, had a great time, constantly pressing the shutter by the window, aiming at the ground below.
Watching them enjoy taking pictures, Fang Wen smiled and said to Indiana, “Come here, I need to talk to you about something.”
After Indiana came over, Fang Wen said with a serious expression, “I am not an American, but I have come to understand during this time. This is still a society where money reigns supreme. Everything is related to money. Am I right?”
Indiana wanted to say something, but he could only respond helplessly, “You are right.”
“What would happen if you returned to China?” Fang Wen continued to ask.
“I would apply to be transferred to the domestic intelligence department, under the Department of Justice’s Federal Bureau of Investigation. However, given my situation, I would most likely be assigned to the logistics department.”
Hearing Indiana say this, Fang Wen was surprised.
In an era before the CIA existed, the FBI likely held greater power.
Indiana, that old fox, must have used his connections; otherwise, how could he have come up with such a good fallback plan?
Fang Wen asked, “Did you use all that money for this?”
“Yes. I have to fulfill my promise this time when I return.”
His mention of fulfilling a promise likely referred to delivering the promised bribe money to the relevant individuals.
This was not unusual.
This was how America was in this era: gangs ran rampant, police officers took bribes for protection, politicians schemed for money. Indiana had merely made a very normal choice, though the cost of that choice was quite high.
With the treasure he had profited from, he could have bought a farm back home and hired a group of cowboys to enjoy the rest of his life.
Fang Wen smiled.
He liked that Indiana had ambitions; it gave him opportunities.
Therefore, Fang Wen blurted out.
“If you don’t have enough money, I’ll give it to you. I need to have a friend in the FBI.”
Indiana nodded, a tacit understanding already formed. “I do need more money. Those damned guys are too greedy. They took everything from me but didn’t give me what I wanted.”
“Go to the aircraft cargo hold and get my backpack from the car,” Fang Wen said.
Indiana complied and brought the heavy backpack.
Fang Wen opened the backpack and took out stacks of banknotes, handing them to Indiana, who then responded, “This is enough.”
Holding a handful of banknotes, Indiana was now genuinely impressed with Fang Wen.
He was willing to have such a friend and even started to worry about Fang Wen’s affairs.
“After I take this money, will you have enough funds for your matters in Las Vegas?”
“I still have money. Let’s talk about other things.”
At this point, Indiana was gradually being drawn into Fang Wen’s inner circle. Although it was through financial means, there were no direct conflicts of interest, making it a strong bond.
The two continued their conversation.
“The casino company I am building in Las Vegas will have a group of special shareholders who will not have equity certificates but will receive fixed profit shares. These shareholders will be complex, potentially from various backgrounds. I need to use these equities to connect them to the casino company, which will ensure my company is safe and stable.”
“Are you sure the company can still earn enough money with so much profit distribution?”
“I am sure.”
Fang Wen was very confident about this. Las Vegas was a giant cake, and there were very few people eating it now; he could take as much as he wanted.
If he didn’t establish his position and obtain substantial concessions and land in Las Vegas at this time, he would never have the opportunity again.
His certainty made Indiana’s breathing heavy.
Indiana was not thinking about how much money he could earn, but rather that this connection would be immense, bringing great profit and also helping him.
The two exchanged a knowing smile and reached a silent agreement.
Fang Wen felt relieved, finally getting Indiana to join the group.
Although the money spent was a bit much, this kind of investment was worthwhile.
It’s just that with this portion of money missing, the funds for purchasing supplies might face a gap.
Suddenly, his body trembled slightly.
The long-lost sense of mysterious energy had appeared.
This situation occurring meant that another treasure might be below.
On the lands of the United States, what could there be?
