Financial Center/Comprehensive Report
The stock market is hot, and many investors are keen on stock investment and want freedom of wealth. However, many people don’t know that Taiwan Cement, the number one stock in Taiwan’s stock market, was a masterpiece of the government’s “stock exchange for land” program. At that time, the Nationalist Government came to Taiwan. In order to promote land for the tiller, Chen Cheng, chairman of the provincial government, promoted the privatization of the four major public companies, using the stocks of the four major companies, including Taiwan Cement, Taiwan Paper, Industry and Mining, and Agriculture and Forestry, to exchange land with all landlords in Taiwan. The land exchanged was then distributed to tenant farmers, and this was government policy that the landowners could not refuse.
The person in the center of the picture is Mr. Lin Deng. (Photo/Provided by Lin Deng Cultural and Educational Charity Foundation)
At that time, Taiwan Cement was an asset that the National Government took over from Japan. It was dominated by the factory of Japan’s Asano Cement Co., Ltd., and had cement strongholds in Kaohsiung, Hualien, Zhudong, Taipei and other places. Taiwan Cement was announced at 11:00 on November 11, 1954. Chung convened a shareholders’ meeting, which was attended by more than 75,000 landowners across Taiwan at the Military Stadium in the Presidential Palace Square, including the Lin Family in Wufeng, Banqiao, Chen Family in Kaohsiung, the Yan Family in Keelung, the Ku Family in Lukang, and The Cai family of Linyuan and the Yuhe family of Yongfeng, which later developed into a consortium, both participated in this redistribution of resources.
According to the research of Professor Hong Shaoyang of Yangming Jiaotong University, it was not the Internet era, and there was no email. The government was notified by official letters and delivered by hand. This was also because many landowners did not know what stocks were, so they had to cooperate even though they were very resistant, especially Before the four major companies issued stocks, they revalued their assets. The actual price of a stock with a face value of 10 yuan was less than 10 yuan. Therefore, many landlords’ land was sold at a discount. Later, they saw ugly financial reports, Some companies suffered continuous losses, and there was no stock exchange at that time. Therefore, free market transactions led to the landlords finally selling their stocks at a low price.
A still photo of Fu Mengbai, who plays the local industrialist Lin Deng in “Business Soul”. (Photo/FTV News)
In this stock game, because the small landowner did not understand stocks, his land was almost defrauded. Later, he was afraid that the stock would become wallpaper, so he sold the stock with a face value of ten yuan for two or three yuan, and his calculated assets increased significantly. It has shrunk to only 1/5, but another kind of big landowners from the four major families who have studied abroad, they have dominated the development of the four major companies, and they have a lot of land assets and machinery and equipment. Some even go to the countryside to buy stocks and continue to increase their shares at low prices. Relying on the number of stocks to obtain factory assets is equivalent to exchanging land for stocks. The stocks are then exchanged for a large amount of factory land, and the assets have doubled several times. This kind of resource redistribution intervened by the government has doubled the assets of large local landowners, becoming The founding shareholders of large enterprises, but one of them was a self-made entrepreneur – Lin Deng, who relied on the spirit of small shrimps to fight against big whales. At that time, he controlled the lifeline of Taiwan Cement’s business and became the main force in the confrontation with the wealthy families! And this historical story is about to be put on the screen. In the soul of business, the story of the turmoil in the past, the redistribution of assets, or the deprivation of small landowners due to lack of knowledge will be interpreted.
“Soul of Merchant” will premiere on FTV Wireless on Saturday, February 17 at 8 pm.
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