Reborn in America, I am a legendary short seller on Wall Street.

Chapter 279 Mr. Morgan Hopes to Blow Up the Short Sellers (Posting early because I have something to do tonight)

At 3 p.m., Larry and his party were invited to the Fifth Avenue Hotel, located at the intersection of 23rd Street and Fifth Avenue on the north side of Madison Square.

This hotel is one of the most prestigious and politically influential hotels in New York City.

When Larry and his party arrived, the Fifth Avenue Hotel had already reserved a private banquet hall as the important venue for the signing ceremony, and reporters who had rushed over had surrounded the place in layers.

The afternoon sun in New York shone through the thin clouds above Fifth Avenue, gilding the Renaissance-style building. Reporters were blocked by red velvet tape, but their pencils and notebooks were ready to be used to publish the most timely financial news.

Larry and his entourage walked inconspicuously on the street, while reporters' flashbulbs and cameras were all aimed at the executives of General Electric.

President Charles Coffin stood at the hotel entrance, being interviewed by several designated chief reporters. Larry could hear his resounding, assertive voice from afar, "...Yes, this was always part of GE's business plan. We're not just going to sell electric lights to dispel darkness; we're going to unite America's most renowned inventors to bring the convenience and revolutionary changes of electricity, this new energy source, to the entire world..."

A reporter, his face filled with astonishment, grabbed his notebook and loudly asked Coffin, "Mr. President, did GE consult with Mr. J.P. Morgan before its transformation?"

“No,” Mr. Coffin said with a regretful expression. “Mr. Morgan is too busy. He has devoted so much to General Electric that we didn’t want to bother him. We wanted to give him a surprise… but fortunately, when we reported to Mr. Morgan this morning, he was very pleased with our efforts.”

The reporters exchanged glances, their faces a mixture of unease and disbelief. These were shrewd individuals, seasoned veterans of Wall Street and New York; how could they possibly believe Coffin's words?
But this is where things get interesting. Even though everyone knows he's lying, you can't prove he's lying, so you can only write news based on his lies.

Larry stepped in front of Matthew, shielding him, and said softly, "Same as always, my brother, you stand in front of me. It's not appropriate for me to show up here!"

Matthew was already used to it, so he stood casually at the front of the group.

Coffin turned and saw the "inventors' group," his eyes immediately landing on Larry at the back. Coffin was about to greet him when Larry subtly pointed to Matthew in front of him, the implication being—you need to talk to him!

Coffin had never met Matthew before, but seeing the blond young man who was in charge at the exhibition following behind him, he naturally assumed that Matthew was the real partner in the collaboration with Tesla, and hurriedly came forward, opening his arms to Matthew.

"We've finally waited for you. We hope you won't find our grand ceremony abrupt, but only such a ceremony can truly demonstrate General Electric's high regard for you and Mr. Tesla's revolutionary products!"

Matthew was a little bewildered, but having spent a long time at Colt, he was a worldly man, so he smiled and hugged the gentleman in front of him, who clearly looked like an important figure, and exchanged a casual, polite greeting.
"It's an honor for us."

President Coffin smiled and quickly beckoned Matthew to turn around. The two were still holding hands, facing the reporters' camera lenses.

In front of the Fifth Avenue Hotel, flashbulbs occasionally shone brightly as General Electric CEO Coffin smiled and shook hands with a mysterious inventor. This moment was captured by the New York media and would spread throughout the United States within hours.

“Please!” Coffin turned to Matthew and pointed the way with his right hand.

Matthew, not to be outdone, walked side by side with Coffin into the signing hall.

Inside the private banquet hall, the renovated space features two rows of elegant wooden armchairs. Under the glow of a crystal chandelier, a dark mahogany signing table sits in the center of the hall. The table is covered with an Irish linen tablecloth, and on either side are leather-bound, gold-embossed contracts awaiting signature, ink bottles, and the distinctive General Electric logo.

After Matthew and his party entered the signing ceremony venue, the GE representatives pretended to close the doors to the private banquet hall. However, the reporters gathered outside quickly crowded around the windows of the banquet hall, making it easy to see the people inside and hear their conversations through the large glass windows.

Larry looked around, then at the reporters blocked outside the door, and thought that GE understood the essence of communication. This half-concealment and half-revealing approach would arouse everyone's curiosity, and everyone might hear different things. This would also allow for controversial but truthful versions to emerge in future communications.

The two parties sat on chairs on either side of the signing table. After both parties were seated, the host of the signing ceremony—a senior lawyer with graying temples and wearing a morning suit—rang a silver bell.

"Ladies and gentlemen! It is an honor to participate in the signing ceremony of new products between General Electric and inventors. I will witness your business agreements under God's witness, based on the principles of fairness, impartiality, and altruism. I believe that you will bring a brighter and safer future to this era!"

After the lawyer finished speaking, he was greeted with enthusiastic applause.

The lawyer then stepped aside and gestured to the people next to him. Immediately afterwards, two assistants pulled back a curtain next to the signing table, revealing a display board on a support behind it.

On the display board is a simple diagram of a motor and various application scenarios that the motor is pointing to.

After the display board appeared, Larry could hear the exclamations of the reporters outside and their anxiety as they couldn't see the full picture through the windows.

With a smile on his face, Coffin stood on the podium at the lawyer's prompting and briefly explained the great significance of small motors to General Electric, while also praising Mr. Nikola Tesla's ingenious invention.

He spoke very loudly so that the reporters outside the door could hear him.

Is this an invention of Nikola Tesla?

Upon hearing this news, the crowd erupted in noise again, with most people not believing it.

"How is that possible? Didn't Tesla confirm his departure from General Electric? How could he then award his latest invention to them?"

"I've heard that Mr. Tesla is currently in Chicago negotiating lighting for the World's Fair. How could he possibly be distracted by making inventions? Without Mr. Tesla's personal confirmation, I have my doubts..."

However, a small number of people with very vivid imaginations were immediately surprised.

"My God, are Westinghouse Electric and General Electric no longer competitors, but starting to try to cooperate? This is huge news!"

"Very likely. Didn't Westinghouse Electric just recently gain and then lose its Chicago World's Fair order?"

……

Outside, reporters were making a ruckus, saying all sorts of things, while inside the lobby, CEO Coffin wore a broad smile. He certainly couldn't respond to the reporters' loud questions through the windows, but instead continued to express his optimism about the new electric motor and GE's determination to develop power grids for both residential and commercial applications.

"...Finally, to commemorate this collaboration, GE will be donating a custom-made crystal chandelier to this exhibition hall, featuring our latest technology. Our lights provide soft light, far exceeding the brightness of candlelight, while maintaining a high level of safety!"

After Coffin finished speaking, the hotel executives present at the ceremony applauded and expressed their gratitude. Subsequently, Matthew, representing Nikola Tesla, and Charles Coffin, representing General Electric, signed the contract, exchanged copies, affixed their seals, and shook hands in front of everyone, witnessed by their lawyers.

Larry sat in the audience, wanting to laugh, thinking to himself that the people at GE were in too much of a hurry. This kind of ceremony was obviously deliberately prepared, just a show for everyone.

Where can you find a contract that's signed without any questioning or discussion?
However, at Coffin's signal, the door to the private banquet hall was opened, and reporters rushed in to grab a good spot, their flashes going off incessantly to record this unexpected but important moment.

After the signing ceremony, waiters served champagne, and the guests and hosts moved to the adjacent salon for a small celebratory reception.

At this moment, reporters were blocked in front of the signing ceremony in the private banquet hall. Coffin was accompanied by only Matthew, Larry, and a few others. Larry took two steps forward and whispered to Coffin, "If you're going to put on an act, you might as well go all the way. I might as well put this electric motor on the signing table too!"

Mr. Coffin's eyes lit up, and he turned to Larry, saying, "That would be the best!"

Larry then placed the small electric motor on the signing table, alongside the two contracts. The spotlight immediately focused on the motor, and Coffin instructed his technical director, Thomson, to stand beside it, loudly explaining this groundbreaking power core to the reporters.

Inside the salon, both sides had already raised their champagne glasses. Mr. Coffin first toasted Matthew, saying, "Excuse my bluntness, but I didn't see you during the previous negotiations. There must have been many oversights in arranging this ceremony, but please don't mind."

Matthew offered a few polite words, saying, "I still want to thank Mr. Tesla for inventing this great new machine."

Larry stepped forward and looked at Mr. Coffin. "Sir, what was the contract written at the signing ceremony? You should at least show us the text of the contract!"

Coffin smiled calmly, looking down at Larry and Matthew. "That's just a prop... the real contract signing. We'll do it behind closed doors later! The reporters are busy; let them have their fun first..."

Larry smiled and nodded, then stepped back behind Matthew.

Just then, another commotion erupted outside the private banquet hall. The reporters turned around, as if they had witnessed something astonishing, and pointed their cameras and sketchbooks at yet another person nearby…

Mr. Coffin frowned and craned his neck to look, but his face immediately lit up with joy.

"It's Mr. Koster, one of Mr. Morgan's most capable assistants and a senior partner at Morgan Trust Bank!"

Coffin hurried outside to greet him, and Larry, holding a champagne glass, also stepped forward. They saw Coster giving his speech to the reporters at the door.
"...Therefore, Mr. Morgan always keeps his word! We know that General Electric is currently in a slump, but since they are willing to show initiative, Mr. Morgan is naturally willing to help them out of their current predicament...On behalf of the bank, I pledge an $800 million loan facility to General Electric, effective immediately!"

A gasp of surprise erupted from the crowd once again. Just one day later, the underlying logic that caused General Electric's stock price to plummet had completely reversed!
Previously, the consensus on Wall Street was that General Electric would not fall; but on that crazy Saturday, Wall Street speculators heavily shorted the stock due to rumors that Mr. Morgan was not optimistic about the company.

But what about now? Things have changed dramatically in ways no one could have foreseen!
General Electric not only expanded into new product lines, but also entered a new area of ​​power applications comparable to lighting, and even Morgan Bank pledged to invest in them!

Anyone could guess that GE's stock price would surge on Monday, and those who shorted GE would be played to death by the cunning JPMorgan Chase once again!
Accompanied by President Coffin, Mr. Coster strode in.

Seeing Larry, he gave a faint smile. "Oh! Well, I thought you were just putting on an act, but I didn't expect you to actually be prepared! What exactly is this thing called an electric motor used for?"

Larry gave him a brief introduction, and he knew that Koster wasn't really interested in the electric motor, but was just using it as an excuse to talk to him.

Watching Coster and Larry talk, the GE executives, who had just concluded that Matthew was Tesla's partner, suddenly realized that it was this young man who was secretly pulling the strings.

Koster ignored the stares of the others, a smile playing on his lips as he looked at Larry and said, "Now they're in deep trouble on Monday! By the way, Larry, do you need our help to squeeze out the short sellers' market?"

“I don’t think it’s a big problem. With this level of logical reversal, GE’s stock price should open at least 60 points higher tomorrow, which means the opening price should be above $100!” Larry said with a smile.

But Mr. Koster looked disgusted. "Hey, Larry! I've put in so much effort, how could I be satisfied with just driving the stock price down to $100?"

Now it was Larry's turn to be surprised. "Mr. Coster, what exactly are you planning to do? Is there some other plan? Is there a way to make the stock price continue to rise?"

“We have well-known figures in the industry driving up the price. Mr. Morgan made it very clear: we want to squeeze the short sellers dry and cause them to bleed! However…” Koster turned to look at President Coffin, “President! What other projects does your company have in reserve that could help expand the victory in this battle?”

Coffin was also a bit confused. He understood, of course, that Morgan was retaliating against those who shorted General Electric. But to say it was a prepared new product… what new product did he have?

If such a new product existed, would General Electric still be in this predicament?

“Well, Mr. Koster, to be honest, this small electric motor was already a pleasant surprise... We really didn’t have any other preparations.”

“You absolutely must have it!” Koster puffed out his chest and said ruthlessly, “Mr. Morgan plans to cripple those short sellers once and for all, so that every time they see one of his projects, they’ll instinctively expose their bellies and piss themselves in fear…”

"Then, what should we do?" Coffin was at a loss.

Koster's face was serious. He frowned and raised his voice, "Think of a way to package this... We need to move from one victory to another! So, what else do we need to sign? Mr. Morgan expects the opening price to be at least $120, exceeding the previous high, to panic the short sellers and force them to liquidate their positions. You must have a corresponding plan..."

He was met with endless silence.

Just as Koster and Coffin's faces turned serious, Larry stepped forward. "I have an idea," he said. "While the reporters are still here, we can come up with another plan!"

Coster looked at Larry, his expression somewhat surprised, but his eyes softened. "You really have a way? Oh God, I should have guessed it. You, the king of ideas, must have some crooked schemes up your sleeve."

Larry laughed, walked over to the Italian guy, pointed to the electric cash register in his arms, and said, "This thing, isn't it just a standard super app?"

Koster frowned, staring at the strange machine, and asked, "What is this thing? An electric cash register? Isn't that a limited application? Can it boost stock prices?"

Larry's eyes gleamed with cunning. He glanced at Koster, then turned to Coffin, and solemnly said to the latter, "Buying it won't cause much of a stir, but what if we give it away to the merchants for free?"

(End of this chapter)