In July 1856, the Vienna government officially began to implement the "Lock-in Plan", the government increased investment in infrastructure, and invited public tenders.

At the same time, the construction of the railway network has also begun, and almost every city has been planned for the railway line, and then the tender is carried out.

This time, not only domestic railway companies can participate, but also overseas railway companies can participate in the bidding, and there are no investment restrictions.

It is still the old rule that a railway line is only authorized to one railway company, and it is not allowed to waste resources by repeated construction, so as to meet everyone's desire to monopolize the operation.

It looks very good, but the premise is that the railway company must start and finish on time, and if you can't do it, be ready to cry!

According to the new plan, once the railway network is completed, the total length of railways in the new Holy Roman Empire will reach a staggering 97,000 kilometers.

At present, the total mileage of railways in the country is only 15,800 kilometers, and the railway projects under construction are only 32,100 kilometers, which is now almost doubled.

In view of the fact that some of the newly planned railway routes are too remote to make a profit, the Vienna government also promised to permanently exempt remote sections of the road from taxation in order to attract investors.

It's okay for good news to fool ordinary investors, and smart people know that this is just a tempting pie. But in the age of market frenzy, who cares so much?

Smart people know that in the end, whether the project succeeds or fails, as long as they don't become the last taker, they can make money from it.

Although none of Austria's railway companies have made a profit, railway stocks have been bullish and are very popular with the capital market.

The railways that are currently open to traffic are all profitable, which has created a false impression for many people that railway companies are a profitable business, especially since Austrian railways can operate as a monopoly.

In the bidding project, the Vienna government is also boasting about the current economic development of the new Holy Roman Empire, the demand for rail transport, and the high population growth rate, which are all good news.

After such a package, many speculators have been tricked, and theoretically all these railway lines will be profitable, even the most remote railways in Bosnia and Herzegovina, and they will be profitable in the future.

The numbers are not deceiving, and it is really only a matter of time before the railroads make a profit. In those days, there were no automobiles, no airplanes, and no means of transportation could compete with railways in land transportation.

The territory of the new Holy Roman Empire is not large, there are no too remote places, there are no uninhabited frontiers, and there is potential for discovery in the future.

Franz estimates that if the Vienna government had not imposed a price limit on rail transport, more than 70 percent of the routes would have been profitable in ten years' time; Twenty years later, more than 90 percent of the routes are profitable; Thirty years later, all routes will be profitable.

This profit is based on the fact that the construction cost is not considered, but the simple operating income exceeds the operating cost, and if you want to recover the investment, you don't know that it will be the year of the monkey.

The construction cost of the railway has not yet been recovered, and it needs to be overhauled, and no matter how well it is maintained, most of the tracks and sleepers will have to be replaced after a few decades.

Since it was a pie, Franz didn't mind making it look a little more enticing. For example, the Vienna government promised to subsidize heavily loss-making routes to ensure the normal operation of the railway.

This promise is actually the same as the railway line that does not have the same operating costs as the railway company, and the railway company will definitely give up!

The Vienna government, as the receiver, must ensure the normal operation of the railway, regardless of whether it is subsidized or not. It is the responsibility and obligation of the government to ensure the smooth flow of basic transportation facilities, and this money is simply indispensable.

Moreover, before that time, the economic crisis broke out, the capital chain of the railway company was broken, and it became inevitable to accept the government's shares.

Why break the rules to be able to hold a controlling stake in the railways within the rules?

It is much wiser to use economic means to obtain a controlling stake in a railway than to overturn the table and rudely declare that the railway is nationalized.

Moreover, the management system of joint-stock cooperative companies is much lower than that of bureaucrats directly appointed by the government.

……

London

Barclays Bank now has a bit of the rudiments of the Barclays Bank consortium, except for the fact that it has not publicly announced the establishment of a consortium, the capitalists who are essentially attached to the periphery of the bank already have the strength of a consortium.

Barclays itself has more than £100 million in capital, more than £300 million in funds that can be mobilized through the financial markets, and more than £500 million in industries affected, making it one of the top few consortia in the UK.

President Genos took out a stack of materials and distributed them to everyone, and then said: "Ladies and gentlemen, not long ago, the Vienna government made a breakthrough and announced a major investment in infrastructure.

Including: railways, ports, urban drinking water projects, municipal engineering reconstruction, and even some water conservancy projects, are included in the scope of bidding.

It is estimated that the total investment amount will be as high as 480 million Aegis, that is, 240 million pounds, and the surrounding industry market will exceed 500 million pounds. This is a feast for capital, but it is also accompanied by very serious challenges.

How to win the biggest cake while controlling the risk to the lowest point is the topic we are going to discuss today.

The information has been sent to you, and it is generally similar to what we knew before, but now it is more detailed and involves specific projects. ”

Simon, a big capitalist, questioned: "Mr. Genos, as far as I know, the total financial revenue of the Vienna government last year was only 121 million Aegis, and this year it will not exceed 128 million Aegis, can they take out this huge amount of money to invest?" ”

Genos replied calmly: "In recent years, Austria's economic development has been rapid, and the Vienna government has successfully extricated itself from its financial difficulties by taking advantage of the war in the Near East.

Especially after the annexation of several German states, the new Holy Roman Empire, which had just been born, had a total population of more than 50 million, and its economy surpassed that of the French, and only for us.

At present, the total debt of their government is less than 80 million Aegis, this debt ratio can be said to be quite low, if they want external financing, presumably everyone will not refuse, right? ”

Refusal, how to refuse? Who will get along with money, the British, who have a serious overcapital, are looking for places to invest everywhere these days. In the face of a high-quality customer, how can you refuse for no reason?

If it is possible to influence the financial markets of the new Holy Roman Empire through loans, then the potential benefits are even greater.

Simon replied without hesitation: "Of course, the Vienna government is now a good customer, as long as they are willing to join the British pound-gold system, there is no problem in providing them with loans."

But they won't join, the Austrians still want to build Aegis-the gold system, and it is impossible to easily compromise with the London government.

In this case, do we still have to do this business? ”

The capitalist Bernat asked rhetorically: "Why don't you do a profitable deal?"

It is a long-term task to control their financial markets through loans, and then to influence the decisions of the Vienna government through finance, so that they can accept the pound gold system.

Our approach is in line with the government's strategy, but it will take a little time. The new Holy Roman Empire is also a big country, and it is not an overnight thing to compromise with them, so it is safer to slow down. ”

Except that the previous sentence is true, the rest is all nonsense. It is possible to control the financial markets through lending, but this is theoretical.

Austrian capital is not stupid, and for its own interests, it will resist the invasion of their capital, and it is very obvious which side the Vienna government will stand on.

It has never been heard that a single loan takes control of the finances of a large country.

Unless they can put the Vienna government in financial trouble and rely on overseas loans for a long time, they will inevitably be affected.

However, in this way, high-quality customers have become inferior customers, and there is no need for business to continue.

Genos said solemnly: "Let them implement the plan of the London government by themselves, and we support them, but only if they do not harm their own interests."

Let's not forget that the bait thrown by the Vienna government is poisonous, and they require investors to pay the construction funds in advance, and also pay a deposit.

Once there is an accident in the middle of the project, the project capital chain is broken, not only the early investment is wasted, but also the deposit will be confiscated, and all the risks will be borne by the investor.

This kind of project that squeezes a lot of money seems to be specially prepared for us, which is too abnormal.

From the analysis of the current economic situation, this round of economic development seems to be about to reach the limit. The fruit is ripe, and the day of harvest is not far off.

When the economic crisis was approaching, the Vienna government threw out this big plan, and I very much suspect that they were trying to cheat the security deposit. ”

Bernat did not hesitate to say: "Even if they are cheating on the deposit, it is based on the premise that the project is not completed, as long as it is successfully completed, they will have to pay, and I don't think the Vienna government will default on the debt."

I think it's more likely that they're pulling people into the water than deposits, and once people put money into these unbelievable infrastructures, even if the economic crisis breaks out, there is no way to withdraw money from Austria.

In order not to let the initial investment go to waste, the investors had to continue to invest, and as long as the construction of these projects was carried out normally, the impact of the economic crisis on Austria would be minimized.

However, I doubt very much that there will be an economic crisis in Austria.

Although the capitalist economy has developed so far and affected more and more countries, the impact on conservative Austria should not have been great.

Even they have never felt what a real economic crisis looks like, and is it so petty to make such a fuss? ”

Simon sneered: "Bernat, your thinking is still stuck in a few years ago!" From 1850 onwards, the Austrian market was the most sought-after region for British capital.

So far, the total investment of British capital in the New Holy Rome area should be more than 180 million pounds, and the investment of French capital there will not be less than 50 million pounds.

Barclays alone has invested more than £15 million there, and if we all pull out the money, Austria's economic crisis will erupt immediately. ”

They have the capital to be proud of, and this era is the time when the capital advantage of the British Empire is the greatest, and even the closest French people to them cannot compare with it.

Genos glanced at the crowd and said, "Whatever the Austrians' plot is, as long as it does not prevent us from making money, we can continue to cooperate."

Based on the information we have so far, it is very unreliable to guess their plan. Regardless of the conspiracy of the Vienna government, there are indeed many high-quality assets in the project they took out this time.

We just need to screen out the high-quality assets in them, and then find a way to get their hands on it, and let whoever likes to take over the remaining junk assets will take over.

If possible, we can also try to see if we can throw some of the good-looking junk items at our competitors.

In my personal opinion, the urban safe drinking water network project is very good and can be swallowed, and once the project is completed, you can imagine monopolizing the profit of a city's tap water supply. ”

Simon said very cooperatively: "Genos, you are still so good, you can pick the most effective value project at a glance."

Our water utilities have always been the most stable source of income and are almost unaffected by market fluctuations.

However, I think that as long as the Austrians bid high enough, they can undertake some municipal engineering projects, and by the way, we can also help them issue construction bonds to meet the financial needs of the project. ”

Obviously, he is not interested in municipal construction projects, but the issuance of bonds, which is the business of drought and flood protection.

These bonds were not eaten by themselves, but sold on the London financial market for the Vienna government, and whether or not they were cashed in the end had nothing to do with them, anyway, the fees and exchange fees were earned first.

Bernat added: "Our railway companies cannot be idle, and now that the growth of the domestic business has almost stalled, the development potential is not great.

In any case, we must take this opportunity to take a few railway lines, push the stock price up a little more, and then find a next home to take over. ”

Obviously, everyone knows that there is a crisis, but that doesn't stop them from making money, and as long as the profits are big enough, who cares what the Vienna government wants to do?

Everyone's different opinions actually represent their different interests. In the same consortium, everyone cannot all develop in the same direction.

Everyone has their own goals, and they can work together closely if their interests do not conflict.

If this is not possible, then the family should be separated. To put it bluntly, a consortium is just a combination of interest groups, and once everyone's interests conflict too much, it is very natural to fall apart.