Chapter 650 The Rough and Formal Tianjin Stock Market
No matter how much he calculated, Xu Dafu would never have imagined that just five days after the listing, people from the exchange would arrive at his workshop with an accounting room and more than 19,000 taels of silver dollars.
If he hadn't seen the actual silver dollars, he wouldn't have believed that what happened was true.
"Mr. Xu, the first stage of your company's listing on our exchange for stock raising and financing has been completed. The first and last ends of our funds have been delivered. Now let's talk about supervision. After all, you have taken other people's equity. If you don't
No one can trust supervision."
"This is what it should be, but I don't know how to supervise it?"
"It's like this. From now on, all the accounts of your company will be kept by Accounting Room Wu assigned by our exchange. Accounting Room Wu is a registered accounting office that has been assessed by the entire Tianjin Stock Trading Center and inspected by the government. Whether it is accounting
Both his ability and his public spirit are guaranteed. He will work in your company for one year, and another person will be sent to take over his job after next year. During his tenure, your company will be responsible for paying his salary, which is five taels of silver dollars per month.
In addition to the accounting office, your company also needs to pay for a cashier. The cashier you are looking for also needs to be verified by the trading center and the government. In the future, all fund transactions must be audited by two people, and they must use both seals and signatures to count.
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Let me make it clear. Although you will spend more on financial accounts in the future, this is also for everyone to understand clearly and keep things on the surface. After all, it is a money transaction of more than 10,000 taels, and there is no supervision.
It's not enough to be more strict. Nowadays, when doing business, only if everyone is aboveboard can they last long. The taxes that should be paid must be paid, and the dividends that should be distributed to shareholders must be distributed. Don't think about opportunism and defrauding people, otherwise the business will not last long.
Every year from now on, your company will hold a shareholders' meeting to distribute dividends based on the balance. The principle of dividend distribution is no less than 20% of the annual profit, but it cannot be more than 50%. If it is more than 50%, you will not be able to do much in the future.
!The exchange will send another person to clean up the accounts every six months. If the accounts are unclear, they will be ordered to make corrections. If you cannot make corrections, the exchange may suspend your listing and report it to the official to recover the shareholders' funds.
The shareholders who bought your stocks will elect two representatives to form your company's shareholders' meeting with you. They will discuss your company's labor expenses and business matters. Of course, you are the major shareholder and have the right to act arbitrarily. If you exercise your arbitrariness,
The decision must be reported to our exchange. If it does not affect the security of shares and government regulations, the exchange will not interfere. However, if it affects these two aspects, the exchange will notify you and interview you.
I urge you to operate in compliance with the regulations. If the evidence is not compliant, you will be reported to the official if the circumstances are serious, and you will be punished if the circumstances are minor. Generally speaking, these are the things. I don’t know if Shopkeeper Xu has any questions, so feel free to ask me to answer them one by one.
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The person in charge of contacting the exchange explained the main issues to Xu Dafu in a paragraph. After listening to this, Xu Dafu felt that his brain was a little exhausted.
However, he still grasped a few key points. For example, it seemed that a lot of extra money would be spent on the so-called financial personnel. He had no objection to paying dividends to shareholders, but giving so much money to the bookkeepers made him feel distressed.
.The two accountants probably take over a hundred taels of silver dollars a year.
"Others, I don't have much to say. It's just that we are running a small business and the bill for the accounting office is a bit high. Can we just hire one person?"
"Dr. Xu, after you register your name, what you do is no longer a small business. Don't be too shallow. The accounting office and the cashier must be separated. This is for the good of the shareholders and for your own good! Besides, the expenditure is a public account, not only
It's your money, and other shareholders will also share the money in proportion. By the way, next year's dividends from your company, in addition to being given to shareholders, will also be your share. Since you still hold the lion's share, you can't release the money anymore.
It’s on the public account.”
"Oh, is that so? What's the use of the money I share?"
"What's it for? You can spend it yourself! Now the money earned from your property does not belong to you. Only the dividends you receive are the money you can spend casually. When the dividends are distributed, the exchange will still take a commission of 1/30
, half of the commission is taxes paid to the government, and the other half is used to serve you and shareholders."
"I'm still doing business in the company. Isn't this a waste of time?"
"The money you earn from working can be added to your labor account and collected every month! Your manpower is also manpower, how can it not be counted as money?"
After talking for a long time, Xu Dafu was both clear and confused. He felt that after raising a lot of shares on the exchange, his property no longer seemed to be his own property! Although if he calculated the accounts carefully, he didn't seem to suffer a loss.
After thinking about it, I have money to buy goods now, so I should do business first. No matter what, I will make more money in the future than now. I suddenly transformed and became a big boss with assets of more than 10,000 silver dollars. Come to Tianjin.
Only a few months? Things are changing so fast, I can’t even imagine.
Of course, what happened to Xu Dafu is just an exception among cases. The main reason why he was able to go public successfully was that he had a large purchase order from the supply and marketing cooperative. It is precisely because of the endorsement of the supply and marketing cooperative that the exchange and shareholders
Only then did they feel confident and bold enough to raise shares for him. Ordinary small businessmen were not so lucky.
The Tianjin stock market has only been officially in operation for about a year. Both investors and people doing exchanges are very cautious. Who would use real money to play with water out of thin air? Compared with the stock market of a certain country in later generations, the current Tianjin stock market is
It is both rough and formal, both conservative and adventurous, with both low threshold and high threshold. The role played by the government is not as important as in later generations, but it is the final word. Whenever the government comes forward, it is serious.
For endless incidents, criminal law is basically used to solve the problem.
Normally, exchanges and investors and financiers would find ways to solve problems and prevent their own risks. The government runs a trading center, not an exchange. The function and role of the trading center is to gather the operators of the exchange and let them negotiate.
Develop trading rules, and then supervise the operation of this set of rules. At the same time, provide some professional technical services, such as auditing and accessing accountants and cashiers, and supervising their tax issues.
Who is going to list and raise funds, and which business is what each exchange has to undertake. The exchange itself is also a business institution. Whoever has more customers will make more money. It will not attract investors to your home, or there will be no business to come to your home.
When it comes to listing your home, it's your own problem.
The exchange is also the largest guarantor and third-party regulatory agency for all listed companies. If there is a problem of defrauding investors' funds on their exchange, the first thing the government will hold accountable is the exchange, and they have to bear the main responsibility. So what companies should be attracted to list?
, they first have to worry and think about it. Unlike in later generations, the entry threshold seems to be unattainable, but as long as they can get past the threshold, operators will naturally develop in the direction of scammers.
See \Desperate Survival of Emperor Chongzhen\ and\remember\domain\name\_\\