America 1919-Chapter 467 - 180, Little John Rockefeller (10,000-word chapter~)_2

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Dick really didn’t want to miss this opportunity for collaboration, so although these terms were somewhat harsh for Breton Bank, he was still willing to accept them.

Hearing Dick say so, people like Edward Doheny naturally had no objections.

The two parties quickly agreed on the loan details. In this loan project, they borrowed a total of eight million US dollars from Breton Bank, with Pandora Oil Company, Pan American Petroleum Company, Sinclair Oil Corporation, and Bowei Petroleum Company each taking on two million US dollars.

The loan term was three years. During these three years, the four oil companies only needed to pay the interest to Breton Bank each month. After three years, the companies would repay the principal in full!

It was a pleasant negotiation; in just one morning, both parties had already reached a consensus.

Pandora Oil Company was actually also a legal advisor for Donnie’s other companies. Café Jackson had prepared the content of the letter of intent for everyone.

Café Jackson was a lawyer whom Cameron Block found for Donnie through his schoolmate connections. He graduated from Columbia University and had always worked in New York.

Although Café Jackson had graduated from Columbia University, he never got the chance to showcase his talents due to the lack of a family background.

After hearing about him from Cameron Block, Donnie immediately sent him an invitation letter... mainly because Brad Dorn had now become the Chief Justice of Atlantic City and was no longer practicing as a lawyer.

After signing the letter of intent, these individuals were ready to leave Atlantic City. After all, each was managing an oil company valued at several tens of millions of dollars and had many matters to attend to.

However, before leaving, these two groups left Donnie with different messages.

People like Edward Doheny suggested that they would wait for Donnie’s call at their respective companies. The moment Rockefeller agreed to the construction of the oil transportation pipeline, they could immediately meet in New York to discuss the specifics and establish the related company.

Dick, on the other hand, indicated that he would go back to prepare the funds right away.

As a medium-sized bank in New York, Breton Bank’s deposits exceeded one hundred million US dollars, but this did not mean they could lend out all those funds. According to US banking regulations, a bank’s loans-to-deposits ratio was not allowed to exceed 60%, although this ratio was bound to change as time progressed.

In reality, even without this regulation, any bank would understand that once the loans-to-deposits ratio exceeded a certain threshold, it would likely trigger a run on the bank, which could be disastrous for the institution.

After sending off the two groups, Donnie returned to his previous life, dealing with the situations of various companies every day and then devoting more energy to the second Miss America pageant.

A week went by, and George Whitney finally responded to Donnie.

"This is definitely the toughest negotiation I’ve ever been involved in!"

On the phone, George Whitney couldn’t help but complain to Donnie.

After listening, Donnie was extremely pleased and couldn’t help but ask, "So, does that mean Rockefeller has already agreed to our proposal?"

George Whitney said, "Yes, Rockefeller has agreed to this matter. But I still have to warn Mr. Block, although Rockefeller hasn’t imposed more conditions on this issue, if in the future there is a disagreement between you two regarding the oil transportation pipeline, at that time, Mr. Block, you will definitely regret your decision today!"

Actually, there was also controversy within the Rockefeller family about this matter.

Some believed that they absolutely could not agree to it. The oil transportation pipeline was the Rockefeller family’s ultimate weapon in dominating the American oil sector. This was a business that simply could not be allowed to fall into others’ hands.

It would be a strike against the prestige of the Rockefeller family.

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Yet there were also voices that with the coming of the industrial era, oil would inevitably become the global economy’s biggest energy source, representing massive wealth. In the face of such fortune, no one would continue to be intimidated by the Rockefeller family’s prestige and abandon this endeavor.

So given the larger trend, the Rockefeller family would sooner or later encounter their enemies in the pipeline business. Instead of facing unknown enemies in the future, it would be better to foster more allies now, just as the family had done during the Standard Oil breakup.

Upon successful construction, this pipeline network would become the second largest oil transportation pipeline network in the United States.

And the other companies involved in this pipeline network all held shares from the Rockefeller family, ensuring that the network would still be under the control of the Rockefeller family.

By then, with both the largest and second largest oil transportation pipeline networks in the hands of the Rockefellers, they would have no worries even if new enemies arose!

Eventually, the second opinion prevailed within the Rockefeller family.

"I never expected to return here so soon after leaving!"

At this moment, Donnie, staying in a suite at the Regis Hotel in New York, spoke with a bit of sentiment.

Walker, sitting on the sofa with his legs crossed, said, "With ABC settling in New York and the new oil transportation pipeline company you’ve established, you’ll probably have to come here often in the future!"