Chapter 20: The Third Round of Recruitment

The next day.

"Boss Chen."

"Ah, Uncle Guang, please, have a seat!"

A man in his forties, his back bent and shoulders hunched, walked into the Yangtze Rickshaw Company. It was the classic posture of someone worn down by a lifetime of labor in the old society. Chen Guangliang recognized him: Wang Buguang, a local shoeshine man.

"I won't sit. I came to ask, I heard you’re taking deposits and paying thirty percent interest a year. Is that true?" Wang Buguang asked, his eyes filled with hope.

He usually kept his money in hidden spots, but his home was small, and theft was a constant worry. As for banks, they had no interest in such meager sums, and the poor were not in the habit of using them.

Chen Guangliang replied warmly, "It is absolutely true. Thirty percent interest per year, paid out the moment it matures."

Wang asked cautiously, "Are you borrowing this money?"

Chen laughed. "Uncle Guang, I have nine rickshaws now. Each one, including the license, is worth three hundred silver dollars. That’s twenty-seven hundred dollars in total. Rest assured, your money is safer with me than anywhere else."

Wang’s expression relaxed. "Of course I trust you... I have thirty silver dollars to entrust to you. It’s for my child’s future wedding."

He had only become a father at thirty; his words were sincere, but they were also a reminder to Chen Guangliang.

"Thirty dollars with me will become thirty-nine by this time next year—that’s nine extra dollars. Your child probably won't marry for another three years. If you leave it with me next year and the year after, by the time the wedding arrives, you could have sixty-five dollars. That’s more than double!"

"Good heavens, that much? I’ll go home right now and get the money for you."

That day, a steady stream of people came to inquire, and every single one was 'swayed' by Chen Guangliang. The idle capital of the entire Fangua Alley began to flow steadily into his hands.

"Have you heard? Chen Guangliang is borrowing money, promising thirty percent interest a year, and he pays on time, never missing a payment!"

"Is that the Chen Guangliang who pulls a rickshaw?"

"What do you mean, 'pulls a rickshaw'? He’s a boss now! He owns nine rickshaws, worth three thousand silver dollars including the licenses!"

"That impressive? Then lending him money must be safe!"

"Exactly. I’ve already lent him twenty dollars; he promised me twenty-six in a year. Earning six dollars is like half a month's wages—better than having no interest at all."

The word-of-mouth effect was evident. Of course, this fundraising success owed much to Chen Guangliang’s recent 'reputation.'

...

The Yangtze Rickshaw Company’s base, after half a month of construction, was essentially complete. The main facilities consisted of two rooms and a large fenced yard.

The rickshaw pullers couldn't stay idle; they often came by to find tasks, such as building tables and chairs. Some even wanted to gamble, but Chen Guangliang immediately put a stop to it. Entertainment was allowed, but gambling was not—you could play cards for peanuts, but no money.

These past few days, as people flocked to deposit money, Zhou Xinggao acted as a guide and bodyguard. Fortunately, Chen Guangliang’s own fighting prowess had earned him a bit of a name in the neighborhood, so no petty thugs dared to cause trouble. Moreover, Chen deposited the money in a bank daily, keeping very little at the company base.

"Mr. Li."

"Hm... Brother Zhou, you’ve been efficient. It’s almost finished here!"

"It’s all thanks to everyone working together."

"Indeed, though your organizational skills are quite good as well."

"You’re too kind."

After finishing his shift, Li Chao arrived at the company base. Even though Fangua Alley was foul-smelling, he now visited two or three times a week. After all, the business of the Yangtze Rickshaw Company had already far surpassed his salary. The company netted nearly three hundred silver dollars a month, and with Li’s thirty percent stake, he was taking home ninety dollars—far more than his regular income and side hustles. He had come to view the company as a major career milestone and was doing his utmost to help it grow.

"Brother Li, you came at the right time. I have something to discuss... Brother Zhou, go tell Xiuying to set an extra pair of chopsticks."

"Understood, Mr. Chen."

Once seated in the office, Chen Guangliang said, "Brother Li, I’ve been fundraising in this area, borrowing from neighbors at thirty percent interest, and the results are great. I’m planning a new round of expansion. You should think about finding a way to invest some money yourself; otherwise, I’ll only be able to give you a half-percent 'sweat equity' share for Project C."

Even if Li Chao didn't invest cash, Chen had promised him the half-percent stake, which showed how much he valued him. Although Li was not a high-ranking official in the Transportation Department, his colleagues and superiors often looked after him—that was his network. Much like the rise of the 'Jiangbei Tycoon' Gu Zhuxuan, who had worked in the police station before starting his own rickshaw business, allowing him to benefit from the cooperation of the patrolmen, Li Chao’s position held similar potential.

Li Chao was moved. The 'half-percent sweat equity' was proof of Chen’s trust, but he wasn't the type to take a free ride. "I’ll start raising the money tomorrow. Three to five hundred silver dollars shouldn't be a problem."

"Good, then we’ll crunch the numbers when the time comes!"

Chen knew he had to seize the opportunity before the window closed. The International Settlement had fewer than ten thousand licenses, and the Transportation Department’s 'small treasury' only held about a hundred. He estimated Li could secure no more than a hundred for the company. Once they reached a certain scale, they would either have to buy licenses on the open market or stop expanding.

Chen believed that a single rickshaw license had an appreciation potential of around six hundred silver dollars (in 1932, it actually hit 750). Buying licenses was, in itself, a business—a form of speculation.

Soon, Li Chao joined them for a meal at the company. The food cooked by Yang Xiuying was clean and tasty, though the surrounding environment was enough to turn anyone’s stomach. Even Chen Guangliang only endured it because he had 'no other choice.' After all, where else could he find such cheap rent and such a spacious base?

...

Three days later.

The 'Project C' funding meeting was held at the company base. Over forty rickshaw pullers showed up, all through referrals. By now, the company had gained a reputation in the puller circles, primarily because it allowed 'employees' to become shareholders—a prospect that made every other rickshaw puller envious.

With the announcement of this new round, everyone rushed to participate. Through 'absorbing idle social capital,' Chen had raised a thousand silver dollars in just five or six days, essentially sweeping up all the loose change in Fangua Alley. Additionally, Li Chao had raised five hundred dollars from friends and colleagues, given his middle-class background.

The scale of this round was twenty-four hundred silver dollars, intended to purchase eight official licenses and twelve rickshaws.

As usual, Chen delivered an impassioned speech, stirring everyone’s emotions.

"...The investors from the first two rounds have already seen great returns. For example, those who invested thirty dollars in the first batch have already received at least six dollars in profit."

Thunderous applause followed. It was a fact, and everyone had heard the rumors.

Chen continued to stoke their enthusiasm: "Think about it. When you’re pulling a rickshaw, carrying a passenger, trotting down the streets of the Settlement—at that moment, you’re no longer just a 'poor wretch' working for someone else. You’re a shareholder of this rickshaw. You’re no longer working for others; you’re working for yourself! Are you happy?"

"Happy!"

"Happy!"

The shouts were so loud they made the nearby residents look over.

The final amount raised exceeded the budget once again. Chen decisively cut out those who invested the least and capped the number of participating pullers at thirty-six—exactly enough to man the twelve new rickshaws.