America 1919-Chapter 927 - 316, The Down-and-Out Richest Man_3
Donnie spoke to Nate.
Nate quickly brought Reggie Vanderbilt to Donnie’s office.
Reggie Vanderbilt, pale and hollow-eyed, now looked like he was at death’s door. Donnie suspected he wasn’t just gambling!
"Donnie, you’re truly impressive. I already read about it in the paper—I didn’t expect you’d become a member of the Federal Reserve Council!"
Reggie Vanderbilt greeted Donnie with a sycophantic smile.
Donnie feigned surprise: "Reggie, what’s happened to you? How long has it been since we last met? You should go see a doctor looking like this!"
Reggie Vanderbilt waved dismissively: "No need to see a doctor; I’m perfectly healthy. But I do need some help from you, Donnie!"
Donnie nodded and said, "Nate has already told me about your situation. As friends, it’s only natural that I help you out if you have a problem. But the amount you’re asking for right now is just too much—a whole million US Dollars!"
Reggie Vanderbilt exclaimed, "Donnie, a mere million is nothing to you. It’s just pocket change. As a friend, I hope you’ll help me out!"
Donnie shook his head and replied, "My money is also the company’s money. The company has a board of directors and oversight—I can’t just do whatever I want!"
Reggie Vanderbilt immediately responded, "Donnie, I can use my estate in New York as collateral—that should give you peace of mind, right?"
A modest estate might only sell for a few hundred thousand dollars back then, even if it’s considered luxurious. But estates belonging to the Vanderbilt Family were in a league of their own.
During the Vanderbilt Family’s peak, they practically competed to build the most extravagant estates, each worth over ten million dollars to start.
Reggie Vanderbilt’s estate in New York, while not on par with the most famous three Vanderbilt estates, was still valued at at least two million dollars!
Donnie put on a contemplative expression, then finally said, "Reggie, I can’t arrange for Breton Bank to provide you with this loan. As for why, I think you understand..."
Breton Bank was a legitimate institution. Donnie was certain that Reggie Vanderbilt would be unable to repay this million-dollar debt, which would automatically become a bad debt. However, under such circumstances, Breton Bank could auction off Reggie Vanderbilt’s New York estate.
The Vanderbilt Family’s estates had long been favorites among the United States high society.
If it went to auction, the price would be out of Donnie’s control, and any surplus would have to be returned to Reggie Vanderbilt.
That would not benefit Donnie!
Upon receiving Donnie’s response, Reggie Vanderbilt displayed a helpless expression and said, "I guess I’ll have to approach another bank for help!"
Donnie smiled and said, "No need for another bank. Even if Breton Bank can’t lend to you, I can arrange for John to provide the loan."
John Block was currently Atlantic City’s biggest lender.
Reggie Vanderbilt shook his head: "No, forget it. I’ve looked into it—John’s interest rates are way too high. It doesn’t suit my needs!"
Not foolish enough yet!
Donnie grinned and said, "My dear Reggie, have you forgotten what I just said? We’re friends. As friends, I would never let John lend to you at his usual high rates.
How about we calculate your loan at bank interest rates instead?"
Reggie Vanderbilt’s face lit up with excitement: "Is that possible?"
Donnie nodded firmly: "Of course. Not only can I get John to lower the interest rate for you, but I can also raise your loan amount from one million US dollars to 1.5 million."
What do gamblers crave most?
Naturally, it’s cash!
The more cash they have, the more confident they feel in recovering all their previous losses in the shortest time possible!
So, upon hearing Donnie’s words, Reggie Vanderbilt’s excitement only grew!
"Haha, Donnie, I knew we were good friends!"
Not much of a friendship at all... At this point, Donnie revealed his true thoughts: "However, even though John and I are brothers, this deal will cost him quite a bit in lost earnings. So naturally, Reggie, you should make appropriate concessions when it comes to the collateral terms!"
Reggie Vanderbilt unsuspectingly replied, "Of course. What are your terms, Donnie?"
Donnie said, "I hope you can fully transfer ownership of your New York estate as collateral to John. If you can’t repay the loan in full, then the estate will belong to John entirely!"
Here, Donnie intentionally paused before continuing: "Of course, Reggie, I’ve always believed in your capabilities. With this money, I’m confident you’ll win it all back at the Surf Hotel soon!"
Initially hesitant, Reggie Vanderbilt broke into a wide grin after hearing Donnie’s reassurance: "Absolutely! My previous losses were just due to a run of bad luck. Now I can already sense it—I’m going to dominate in the coming days. Donnie, don’t feel bad for me then!"
Donnie let out a hearty laugh and said, "At the Surf Hotel, we’re the house. Even if you win, you’re beating your opponents, not us. I should throw you a victory party in that case!"
And so, Reggie Vanderbilt agreed to use his New York estate, valued at over two million dollars, as collateral for a 1.5 million dollar loan from John.
As for this loan, Reggie Vanderbilt didn’t pay it back, and within just half a year, the money was all squandered...
