Chapter 2402: Proxy Holding

Zhang Yu stood frozen, unable to grasp Hong Huangnan's meaning. He could only stammer, "This humble one is useless..."

Hong Huangnan waved his hand, signaling his secretary to bring over a sealed kraft paper envelope, bulging at the seams.

"Inside you'll find a one-thousand-yuan check and five thousand silver dollars in circulation coupons."

Zhang Yu nearly dropped the package in shock. Though his business had grown to handle turnovers of thousands or even tens of thousands, five thousand yuan remained a staggering sum. Ninety-nine percent of Guangzhou's residents would never handle such wealth in their entire lives, let alone hold it in their hands.

"The one-thousand-yuan check is a loan to Zhang's Company. The five thousand in cash is a personal loan to you." Hong Huangnan bit the end of a cigar, let his secretary light it, and drew deeply.

"This... how can I possibly accept this?" Zhang Yu clutched the heavy package as though it were a burning coal.

Hong Huangnan exhaled a perfect smoke ring and continued as if Zhang Yu hadn't spoken. "Send someone to see Gao Ju and tell him you intend to purchase one thousand yuan in bonds."

Zhang Yu was confused. He had assumed the extra money was meant to inflate his bond purchase, giving him something presentable to show Gao Ju. He hadn't expected to still be told to buy only one thousand. He dared not question and simply replied, "Yes."

"Then have someone inform Gao Ju that you intend to buy five thousand shares of Nanyang Company stock when it's issued."

"What?!" Zhang Yu's eyes went wide.

He knew about the Nanyang Company's upcoming stock issuance, of course. But like most of his colleagues in the Federation of Industry and Commerce, he shared the prevailing view: buy a token amount for appearances, but don't overcommit.

Stocks and shareholding systems had flourished in Holland and England, but they weren't foreign concepts here either. In Guangzhou alone, larger businesses commonly operated as joint partnerships. Beyond pure capital shares, there were "body shares"—labor shares for shopkeepers and clerks. Physical stores had them, trading businesses had them. Maritime trade especially relied on such arrangements: smaller merchants without their own vessels often pooled capital temporarily to purchase goods, while sea merchants who built their own ships frequently shared construction costs among investors.

Though the Great Ming lacked a proper stock exchange or the supporting infrastructure for stock trading and dividends—handling most such matters according to folk custom—share-based transactions were hardly rare. They had even spread to agriculture. Guangzhou's business community was certainly no stranger to the concept.

If an established enterprise sold stock, the Federation's wealthy members would generally be willing to buy. Put another way, if any of the "Purple"-prefixed businesses raised capital, no mobilization or propaganda would be necessary. A single announcement would have crowds trampling the Purple Light Tower's threshold flat.

But this Nanyang Company was heading to the South Seas to conduct trade and establish colonies. That gave the old moneybags pause.

Maritime trade was indeed extremely profitable, but the uncontrollable risks were immense. Shipwrecks and deaths were countless. Merchants who went bankrupt and ruined their families in such ventures were hardly rare. In short, this was a business offering both high returns and high risks.

For most of the old moneybags, profitable investment still meant seeking stability. Even when putting money into maritime trade, they preferred to lend rather than invest directly. As long as there was collateral, the loan amount was negotiable. At least they wouldn't lose everything.

Zhang Yu had listened to their discussions and understood that this "soon to be issued" Nanyang stock held little appeal. When the time came, the Federation's major households would at most buy three to five hundred shares as a gesture of goodwill. As for himself—the money for the bonds was borrowed in the first place!

But his mind was quick, and he immediately grasped Senator Hong's meaning. "Yes, I understand!"

Hong Huangnan nodded. "After you return, write two IOUs and have someone deliver them to me. For the one-thousand-yuan note, list Zhang's Food Company as the borrower. Use your personal name for the five thousand."

"And the interest and term for the five thousand..."

"No set term, no written interest. Simply state that when I need the money, I'll notify you thirty days in advance. Leave interest blank."

Zhang Yu was thoroughly bewildered now. He had never even heard of such an IOU, let alone written one.

"Though interest isn't written down, I still want it." Hong Huangnan smiled. "It will be the annual dividends from your Nanyang Company shares."

"Yes."

"I'll give you instructions on how to handle the stock after you purchase it. Until then, just keep it safe—the dividends too, though I expect there won't be any dividends for the first few years."

Zhang Yu understood now. This wasn't a loan at all. He was being asked to hold Nanyang Company stock by proxy. "This humble one understands!"

Hong Huangnan regarded him with a faint smile. "If you buy five thousand shares, Gao Ju will have to purchase at least ten or twenty thousand to maintain face. Your contribution here is no small matter."

"I wouldn't dare claim credit—it's all thanks to the Chief's cultivation." For some reason, Zhang Yu felt sweat beading on his forehead.

"I hear Gao Ju has been cultivating a relationship with you?"

"That's true." Zhang Yu spoke quickly. "His family's womenfolk have been socializing with my mother frequently, and he often invites me to banquets and elegant gatherings at his home..." He suddenly remembered how Gao Ju's third concubine had recently tried to play matchmaker for him, and immediately told Hong Huangnan about it.

"Oh, Official Gao treats you quite well indeed," Hong Huangnan nodded with a slight smile. "He truly shows sincere consideration toward the Senate."

"The matter felt inappropriate to me, so I asked my mother to decline. But the third concubine came around again to matchmake..."

"Who did she propose?"

"Daughters of wealthy households, young ladies from scholarly families—mostly people connected to his family in some way."

"You declined them all?"

"Yes. It never felt quite right."

"And what are your own thoughts on the matter?"

"My father and I share the same view: our family has been small merchants for generations, and we owe our current fortune entirely to the Senate's grace. We wouldn't dare presume to marry into major households. We'd rather find an honest girl from a modest family."

Hong Huangnan studied him for a moment, stubbed out his cigar, and said, "No need to rush into marriage. You're still young. Focus on your business, handle matters carefully—your future holds great promise."

"Yes, I accept the Chief's auspicious words."

"I trust you. You may go."

Zhang Yu returned to his office in the Great World and called Zhang Ting over, handing her the bag with instructions to deposit it at the bank.

"Brother Yu, where did you get so much money all at once?" Zhang Ting was both surprised and delighted.

"I borrowed it." Zhang Yu had walked only a few hundred meters from the Inner World to his own office, but the moment he sat down, he felt his strength drain away. His shirt was soaked through with sweat.

"Did Senator Hong lend it to you?" Zhang Ting asked softly.

Zhang Yu nodded. He checked that the office door was closed and whispered, "You must keep this matter absolutely confidential."

Zhang Ting grew nervous and nodded solemnly. Glancing at the check, she said, "But this check bears Chief Hong's signature. People will know the moment it's cashed at the bank..."

"The check doesn't matter. The cash is what needs discretion."

"I'll disperse it into the company's and the old shop's daily revenue over a month or two—just depositing a bit extra each day."

"Good. Also, write two IOUs. After you finish, put them in an envelope and seal it." Zhang Yu explained the requirements in detail. "Have Yumai deliver it to the Reception Office tomorrow. He must get a receipt from Senator Hong's secretary!"

After Zhang Ting left, Zhang Yu leaned back in his armchair, heart pounding wildly. Today's meeting with Senator Hong left certain details unclear, but he felt he understood the Senator's meaning completely.

Without question, his relationship with Senator Hong had advanced another step. From the Senator's words, he had discerned several layers of meaning: First, don't get too close to Gao Ju. And "Gao Ju" meant not just Official Gao himself, but also the old moneybags and old literati of Guangzhou, regardless of their attitude toward the Senate. Second, Senator Hong didn't want him to marry quickly...

Zhang Yu understood: wealthy and powerful families never formed marriage alliances casually. They weighed matters repeatedly, carefully considering the other party's background before making decisions. If he married just anyone now, he would essentially be surrendering a valuable bargaining chip.

Could it be that Senator Hong's family had a daughter of suitable age...

He immediately shook the thought from his head, laughing at himself for daydreaming.

Even if it didn't necessarily mean a daughter would be betrothed to him, Senator Hong expressing views on his marriage made one thing clear: not only would he continue supporting Zhang Yu, but their relationship would deepen further.

The realization filled him with both surprise and elation. Through chance and coincidence, he had already reached heights he once wouldn't have dared dream of. And now Senator Hong had opened a door leading to even greater status and wealth. Before long, even Gao Ju would have to bow before him...

At this thought, his entire body tensed with an indescribable heat and ecstasy. His blood ran so hot it seemed ready to burn through his skin. A desire surged within him, making him restless.

For some reason, the image of the tofu shop's young lady, Huo Sanyan, rose unbidden in his mind. Work had kept him too busy lately to visit the old shop, and her shadow had grown faint in his heart. But remembering her now stirred a desire he had never felt before.

Regarding marriage, Senator Hong had already said "no rush," implying that neither daughters of wealthy households nor girls of humble families were suitable for him. So perhaps he might as well bring Huo Sanyan home as a concubine. I'm the foremost "Short-hair Merchant" in Guangzhou now—what's wrong with taking a secondary wife?

But on reflection, if he presented this idea to his parents, they would certainly refuse. The Huo family and his own had been neighbors for many years, helping each other through poverty. The intention of uniting the families through marriage had been vaguely hinted at before. Now that his family had prospered, not marrying the Huo daughter as his primary wife was barely defensible—there had been no formal engagement, after all. But taking her as a concubine would reek of "a small man intoxicated by success." Even if the Huo family were willing, his parents could never countenance such a thing.

Zhang Yu paced his office like a hungry wolf, his mind churning with wild thoughts. Had anyone observed him, they would have assumed he was agonizing over business or money troubles.

(End of Chapter)