Capítulo 350: Chapter 350: The Pit Is Getting Bigger
Fangjiro Abe was a prominent figure in the Japanese textile industry and had a deep appreciation for cultural relics. Though Japan had never officially recognized these artifacts, the influence of their culture was undeniable, especially among the upper class who valued these relics.
During World War II, Abe capitalized on numerous military orders, amassing substantial profits. Through his connections, he acquired a vast collection of art and antiques, including renowned calligraphy and paintings, golden Buddhas from Jingxinzhai Wanfo Building in Beihai, items from Prince Gong's residence, and exquisite porcelain, gold, and ivory carvings.
The end of the war, however, brought misfortune. Abe's factory teetered on the brink of bankruptcy, unable to sustain its workforce. With over 3,000 employees laid off and operations suspended, the situation grew dire. Eventually, Hardy, along with seven consortiums, acquired Abe's factory. Despite retaining 15% ownership, Abe lost control over the business, which was now managed by Americans.
Now nearing 70, Abe found himself idle at home. The sight of an antique mortgage investment advertisement in the newspaper stirred him. Determined not to let the Americans dominate the Japanese economy, he saw an opportunity to leverage his collection for financial gain. He hoped to reinvest the profits into a new business to revive the Abe family's fortunes.
Abe instructed his son, Kojiro, to find an antique mortgage investment company. Impressed by the extensive collection, a company representative quickly arrived. Abe's collection included high-quality items in specialized rooms. Despite his poor health and reliance on a cane, Abe proudly showcased his artifacts.
"This painting is by Su Shi, a renowned writer from the Song Dynasty," Abe said. "I bought it for 40,000 yen."
The business manager had it appraised and remarked, "We can value this at $2,500."
Abe was taken aback. "Converted to yen, that's only 10,000. I paid much more for this piece."
The manager explained, "The value of antiques peaks during stable periods. Market prices have dropped significantly. Many are selling antiques just to cover basic needs, and buyers are scarce."
Chinese relics were not in demand in Europe, where European art was preferred, and Americans showed little interest in Eastern artifacts. With a flooded market and few buyers, the value of Chinese antiques had plummeted.
"Alright," Abe conceded, though reluctantly. "I don't have the resources to argue."
He continued, introducing more pieces: "This is Wang Wei's 'Fu Sheng Jia Jing Tu,' a painting from the Tang Dynasty, valued at $3,000."
The business manager, unimpressed by the age of the artwork, countered, "We'll offer $3,000."
Abe's frustration grew. "What about Zhang Sengyou's 'Five Stars and Twenty-Eight Places of Gods'? He was a prominent painter from the Southern and Northern Dynasties."
The manager responded, "That's worth $2,000."
Abe handed over the negotiation to Kojiro, who continued to discuss pricing with the manager. The collection was extensive, including over 180 paintings and calligraphy works, precious porcelains from various kilns, and numerous carvings and rare books. The total valuation reached $2.3 million.
The business manager, accustomed to large sums, stated, "Your collection is valued at $2.3 million. According to our mortgage rules, you can receive 70% of that—$1.61 million."
Abe inquired, "Can I receive the funds directly? I have other plans."
The manager shook his head. "We negotiate with the bank to deposit cash, not provide direct loans. No bank will use these artifacts as collateral, not even local ones."
The reality was stark. Banks, controlled by major consortia, avoided such risky investments. Only Wells Fargo Bank dealt with such transactions.
"Fine, mortgage them to your company," Abe agreed.
The manager presented the contract. Abe noticed a clause requiring a two-year investment period before cash withdrawal.
"Isn't this term excessive?" Abe questioned.
"It's necessary to prevent misuse," the manager explained. "We need to ensure the antiques aren't abandoned for cash."
Reluctantly, Abe signed the contract. His collection was carefully stored and transported to Wells Fargo Bank, completing the mortgage process.
Back home, Abe stared at the now-empty rooms, feeling a pang of loss. "I hope this investment succeeds. It could help revive the Abe family."
"Don't worry, Father," Kojiro reassured him. "I've confirmed that the investment company is strong, and Wells Fargo is reliable. There shouldn't be any issues."
Many wealthy individuals, collectors, and even members of the Japanese royal family, who had acquired Chinese antiques during the war, also sought to mortgage their collections. With the current economic situation, many saw this as an opportunity to invest in the booming U.S. stock market.
Despite their varying reasons—whether to make money or to safeguard their assets from potential future scrutiny—these individuals were making the most of the opportunity, guided by the belief that cash now was more valuable than antiques.
Hardy observed their actions with understanding.
Estado de energía semanal
-- Ranking de
Poder 
-- Piedra de
Poder