Chapter 585: Let the Fundraising Storm Sweep Through Britain!
Soon, Elvis left Birmingham, thoroughly content.
He easily found out that the city council was discussing the installation of gas streetlights, and a decision was expected soon, with the total project cost amounting to 200,000 Pounds Sterling.
He even saw streetlights already erected in many parts of the city, indicating that the Lightning Company was clearly confident in securing the project and had already begun preliminary work.
Unbeknownst to him, two months prior, Calonne had bribed some council members in cities like Birmingham and Manchester to propose the installation of gas streetlights in the council.
Simply proposing a motion carried no responsibility and could even be touted as a political achievement for "promoting urban development."
As for the motion ultimately not passing, Calonne didn't care at all, as long as the city councils slowly haggled and everyone knew such a project was being discussed.
The streetlights, however, were installed by the Lightning Company for free in various cities.
Erecting a few streetlight poles didn't cost much at all. And even that money was advanced by the subcontractors.
Subsequently, Elvis learned through a friend's contacts that the French Ambassador to Britain had personally confirmed that the gas streetlights in Lille might be entrusted to the Lightning Company for construction.
Upon returning to London, Elvis immediately and without hesitation accompanied his "future brother-in-law" to visit Mr. Goldsmid and subscribed for 40,000 Pounds Sterling in Lightning Company bonds.
He then didn't keep the secret as promised but quickly told his cousin about it.
The latter, introduced by him, bought 30,000 Pounds Sterling in bonds, then enthusiastically leaked the news to several business partners...
Massive sums of money continuously poured in, and Goldsmid had become numb to it all.
For the past ten-odd days, he had been signing subscription agreements and counting money; nearly 600,000 Pounds Sterling had flowed into the Lightning Company's accounts.
Naturally, these funds were temporarily deposited in the Commercial Credit Bank, the amount already more than double the bank's previous peak capital!
This made him sigh with emotion that choosing to side with the French Crown Prince had been the most correct decision.
Meanwhile.
At the Lightning Company's "Partner Strategic Conference," Steller, following the Crown Prince's "script," was outlining a bright future to the executives of the various subcontracting companies: "As you all must know, the company is about to secure agreements to install gas streetlights in seven cities, including Birmingham and Liverpool.
"And in distant Lille and Florence, we have also successfully defeated our competitors and begun laying gas pipelines!
"I trust you have all calculated the sheer scale of these projects!
"And you are all participants in these magnificent undertakings.
"Together with the Lightning Company, you will make history!"
Directors and managers from dozens of subcontracting companies stood up one after another, their faces alight with excitement, applauding vigorously.
Steller continued: "Of course, confronting such massive projects, our initial investment is also substantial.
"Therefore, the company hopes that all of you, our closest partners, can face the challenges with us, invest together, and then collectively enjoy the ample profits!
"The specific project arrangements are as follows..."
After he finished speaking, the subcontracting company representatives exchanged dismayed glances—the initial investment was indeed substantial. For example, copper pipes alone would cost over 130,000 Pounds Sterling to manufacture, and the Lightning Company's intention was for them to advance these funds.
A stout man loudly raised an objection: "Mr. Steller, although we genuinely wish to support the Lightning Company, we truly don't have that much capital."
Someone immediately seconded: "Indeed, this requires at least 20,000 Pounds Sterling; it's truly too much."
"We've only received one payment for our work this entire year, making it truly difficult to continue advancing funds..."
Steller waved his hand, signaling for quiet: "The gas streetlights in London will be delivered by the end of the year. Once payment is received for the project, it will be immediately distributed among all of you.
"Please hold on for another two or three months.
"As for the capital issue, you can take out loans or issue bonds. Currently, the entire United Kingdom knows that our gas streetlight project has excellent prospects, and as participants, you will easily secure financing."
Once the meeting concluded, these companies immediately pulled out all the stops to raise funds from different sources, while also extensively promoting the gas streetlight project once again.
On another front, the sales of household gas lamps also became increasingly brisk.
After London citizens heard that gas lamps would continuously increase in price, a frantic buying spree immediately ensued.
In the following month, London surprisingly sold over 11,000 gas lamps.
It should be noted that 8 Pounds Sterling was certainly not a small sum for the average person. A tailor's annual income was only about 15 Pounds Sterling, and a private tutor for a noble family earning 30 Pounds Sterling a year was considered well-paid.
Yet, the entire population of London was merely over 800,000. It could be said that almost everyone who could afford it bought a lamp!
Concurrently, cities like Birmingham and Manchester also heard news of gas streetlights being installed, and consequently, household gas lamps quickly began selling in these areas as well.
However, the purchasing power in these cities was far inferior to London's, with only 300 to 500 lamps sold per month.
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