Chapter 238 - 140: Stock Certificate
A Tier Three or higher Spirit Vein, if it nurtured a piece of land for a long time, could transform ordinary earth and rock into Spiritual Soil or Spirit Stones. If the Spirit Vein overlapped with an underground mineral vein, it could even convert a common mineral vein into a Spiritual Ore deposit.
Mining a moderate amount would not damage the Spirit Vein.
However, most Golden Core Clans and Royal Families wouldn’t normally mine their Spirit Veins. They would even bury Spirit Stones at the vein’s nodes to help it advance to a higher tier.
Only when a Golden Core Seed within the clan needed to attempt Core Formation would they unseal the Spirit Stones in their hidden vaults and excavate the Spirit Stones from their Spirit Vein.
If no disciples were preparing for Core Formation, the number of Spirit Stones these clans could produce at once was astonishing.
That was why when Yang Jing and Meng Sima had estimated the value of the Seven Nations Bank, they had set the price extremely high, directly at two hundred million Spirit Stones.
With just a few bids, the Seven Kingdoms Royal Families and Golden Core Clans present had bought up over twelve thousand shares, leaving fewer than three thousand remaining.
Some Cultivators saw that there were still so many left and were about to bid again, but a Yu Hou entered and reported the situation outside to Meng Sima using his Divine Sense.
The proceedings inside the cabin were being broadcast live via a Water Mirror Skill to the Foundation Establishment Clans and Independent Cultivators waiting outside. Seeing that all the shares released by the Seven Nations Bank were on the verge of being completely divided up, they immediately erupted in an uproar, protesting loudly.
Among them were even Golden Core Clans that had rushed over from the Outer Domain.
Meng Sima’s eyebrows shot up when he heard this. He halted the sale of shares, much to the displeasure of the Golden Core Cultivators present.
According to his discussion with Yang Jing, although Canyuan True Monarch’s backing allowed the Northern Army Governor’s Mansion to easily maintain control over the Seven Nations Bank, the shares being sold should still be as widely distributed as possible, just in case.
Even in the Northern Domain Seven Kingdoms, there were still instances where royal authority didn’t reach the local level. A Royal Family could at most control thirty to forty percent of the power in a local Marketplace; the rest was controlled by the local Foundation Establishment Clans.
If these Foundation Establishment Clans couldn’t get a single share of the Seven Nations Bank’s dividends, establishing and running the various branches would likely face many complications.
"Everyone, while the shares of the Seven Nations Bank can be freely traded, forced buying and selling are strictly prohibited. If the Northern Army Governor’s Mansion discovers such activity, the punishment will be severe! Not only will any seized shares be voided, but the Northern Army Governor’s Mansion will also forcibly buy back the shares you legitimately hold at a reduced price!"
Meng Sima clearly had a good understanding of how these Golden Core Cultivators operated, so he issued a warning.
He was afraid that not long after these shares fell into the hands of the Foundation Establishment Clans and Independent Cultivators, the Golden Core Cultivators would use various unscrupulous means to seize them back.
If that happened, all his and Yang Jing’s painstaking efforts would be for naught.
Some of the Golden Core Cultivators present looked guilty; they had been planning to do exactly that.
"Masters who have purchased shares must deliver the Spirit Stones to this location within three days," Yang Jing announced to the Cultivators present. "The Seven Nations Bank will issue Stock Certificates, which will serve as proof of ownership. These certificates only require a Magical Power imprint, not a Divine Soul imprint, so you Masters can rest assured. In the future, when buying or selling shares, both parties will need to verify the Magical Power imprint on the Stock Certificate before the transaction can be completed."
The Golden Core Cultivators present breathed a sigh of relief. As the heads of the great clans of the Northern Domain, they were unwilling to hand over an imprint of their Divine Soul aura to Canyuan True Monarch.
To put it bluntly, if Canyuan True Monarch were to suddenly succumb to demonic corruption, he could use that sliver of Divine Soul aura to put them in a state where they could neither live nor die.
Most of the Golden Core Cultivators were already carrying more than enough Spirit Stones, so they immediately chose to hand over their Spirit Stones and get their Stock Certificates.
The Stock Certificates were exquisitely crafted from Profound Copper Essence. The front featured a map of the Northern Domain Seven Kingdoms, and on the back, the two words "Stock Certificate" were carved in relief with a True Register script. A Restriction was set within the certificate, allowing one to use their Divine Sense to read information such as the number of shares and the holder’s identity. It was also stamped with the spiritual seal of the Northern Army Governor’s great seal, making it nearly impossible to forge.
The Northern Army Governor’s Mansion’s many meticulous measures greatly increased their confidence in the Seven Nations Bank. It showed that the Governor’s Mansion was genuinely serious about managing it.
Some Golden Core Cultivators, having received their Stock Certificates, were about to leave but were stopped by Yang Jing.
"Masters, don’t be in such a hurry to leave. After all the shares have been sold, the Seven Nations Bank will elect seven directors to form a board. Barring any major misconduct, a director will serve for thirty years before a new election is held. If you Masters leave now, you’ll have to wait thirty years for the next chance to elect a director."
The eyes of the Golden Core Cultivator he had stopped lit up.
"What are the rules for this board of directors?"
"The Seven Nations Bank will have one hundred fifty million Spirit Stones. Are you Masters comfortable letting the bank manage such a massive sum however it pleases? The board of directors will be the bank’s operational decision-making body. Internally, it will manage the bank’s affairs; externally, it will represent the bank in its business decisions and operations," Yang Jing said with a smile.
All the Golden Core Cultivators present were stunned. They hadn’t expected the Northern Army Governor’s Mansion to be willing to relinquish a portion of the real power over the Seven Nations Bank instead of monopolizing it.
Meng Sima had originally thought otherwise. In his view, the fact that the Northern Army Governor’s Mansion was willing to share the profits of the Seven Nations Bank with the people of the Northern Domain was already quite generous. As for complete control over the bank, that should have been held firmly in the hands of the Governor’s Mansion.
But Yang Jing had persuaded him, arguing that if the Northern Army Governor’s Mansion held all the power over the Seven Nations Bank, the Six Sects could reclaim it with a single Imperial Decree. At that point, the Governor’s Mansion would completely lose control of the bank.
However, if they established a board of directors, Canyuan True Monarch could argue his case and might be able to retain a seat. That way, they wouldn’t completely lose their influence over the Seven Nations Bank.
Meng Sima found this reasoning sound. After consulting with Canyuan True Monarch, he finalized the system of a board of directors.
Some Golden Core Cultivators were instantly filled with regret. ’I bought too few shares!’
If the Stock Certificates didn’t record one’s Magical Power aura, making them impossible to steal, some of the Golden Core Cultivators were prepared to abandon their dignity and play the part of a Tribulation Cultivator to snatch a few more certificates.
Outside the Flying Boat, the line of Cultivators waiting to buy Stock Certificates stretched out into a long queue. Some even started fighting, unleashing their True Fire, just to cut in line.
If the Demon Suppression Army hadn’t swiftly intervened to suppress the conflict, the casualties might have been significant.
The financial strength of these Foundation Establishment Clans and Independent Cultivators was far weaker than that of the Golden Core Cultivators inside the cabin.
The wealthier ones bought a dozen or so shares, while the less affluent bought three or four. Some Foundation Establishment Clans, impoverished from buying Foundation Establishment Pills, had to exhaust all their means just to barely afford a single share.
The Independent Cultivators were even more destitute. Typically, a dozen or more would have to pool their resources to buy a single share, and the one who held the Stock Certificate would have to make a Dao-heart vow.