Fire Sale

Will, Elizabeth, and their children arrived in Yorkshire yesterday by airship. A week ahead of the summons.

Will wanted to survey the damage so he did not teleport to Yorkshire. Observing the damage first hand, made him remember the stark difference between reading and seeing.

From a bird's eye view, it looked like the whole kingdom was on fire. Smoldering buildings, mass graves, and charred carts were observable.

Death and destruction were everywhere, Will looked.

This was true almost everywhere, except for a few cities, one being Gadreel.

At their Yorkshire manor, Elizabeth rested her head on Will's shoulder. They sat on the edge of their bed in gentle silence, leaning against one another, processing the destruction they saw in the airship.

Outside the bedroom window, the red sky seemed to reflect the bloody mess left behind by the plague and famine.

For once, Will's buzzy mind ground to a halt. The danger was over, the crisis was on the mend. Yet, melancholy filled the room. The many places Will enjoyed as a cadet were gone.

Moreover, his casino, cafe, theater in Guidon were all damaged. Vanessa barricaded the entrance to the cul da sac.

'How sad to see places that brought so much joy, now be walled off,' Will thought.

"Will," Elizabeth said with her head nestled into Will's shoulder.

"I'm so thankful, I married such a capable man. When we toured damage across southern, and central Fermion, I didn't know how much chaos there was.

It's not right that a fief's border can decide who lives and who dies. It's not right that different laws change based on what barony, viscounty, county, or dukedom a person lives.

How can a kingdom like Fermion have such uneven laws?" Elizabeth asked.

Then she sat up and looked Will in the eyes, "When I'm with you, I felt like I am looking into the future. A future that's better for everyone. In the airship, I prayed the old Fermion wouldn't return," Elizabeth said passionately.

"Don't let the other nobles hear you, they'll think you side with the rebellious peasants," Will said jokingly.

"And what's wrong with that? They're people too! People who deserve a wage and respect!" Elizabeth preached.

"I know, I know. I agree with you, I think the age of feudalism is behind us now," Will said encouragingly.

"What do you think the next era shall be?" Elizabeth asked quizzically.

"I don't know, mercantilism?" Will said.

"What's mercantilism?" Elizabeth asked.

"Let's save that for another chapter. Let's go to sleep dear," Will yawned.

"Will, please save this kingdom. I think you know how to run things better than the rest of the Privy Council. Help them see the truth. Tell them not to damn this kingdom to the past!" She pleaded.

"Let's just focus on Gadreel. I'll manage the economy and you manage the culture and we'll be fine," Will said drifting off to sleep.

"Will the greater power you have, the greater capacity for good you wield. Your scheme helps you as much as your patrons," Elizabeth said before falling asleep.

In the morning, Elizabeth took the children to the castle. She wanted to spend as much time as possible with her uncle.

While Elizabeth was away, Will read the economic reports Prince Roland Godwin sent over last night.

The plague and famine had not only destroyed lives but also sent the country into a depression.

The first causality was Will's Fermion Trade and Stock Exchange which plummeted. With the stock market crash, several people found their stock worthless.

Will saw his beloved stock market value drop from 600 thousand to 6 thousand, a 99% drop in value. To save the bloodshed, Will had shut down the FTSE for two years during the pandemic.

Before the pandemic, the FTSE had become famous. With the price of stocks increasing for six years. Even though the stockbrokers warned buyers of the risk, people still bought as many stocks as possible.

Now these same people, demanded to sell these worthless stocks. While Will's company shares had risen, they had not returned to the pre-pandemic value.

Now, the country was slowly rebuilding. Last week in Yorkshire nobles gathered to protest on the second floor of the Silver Phoenix Bank and Trust. The protestors demanded compensation for their losses.

Yet Mei stood resolute, "customers were appropriately warned of the risk several times before purchasing," she repeated.

Not wanting to miss an opportunity, Will instructed Miles, Vanessa, and Mei to snatch up Class B shares of his properties.

Will was able to buy 2/3 of his shares before customers realized his stock was the only one rising.

According to the economic report, 70% of the business in Fermion went bankrupt or closed due to the pandemic.

Many Companies closed due to lack of workforce, supply delays, or creditors. Will was the largest private creditor in the country.

Stores that wanted to remain open were closed due to sinkage and looting.

The report made one thing clear, many merchants were suffering. And general store owners suffered the hardest. And the hardest hit was Baronet vont Hernandes who owed the most general stores in Fermion.

Baronet vont Hernandes never forgave Will for not marrying his beautiful daughter, and with his company in shambles, it would be harder to find a prospective husband for his darling daughter.

To recoup his losses, Baronet vont Hernandes had no choice but to put up 10 of his 13 of his general stores for sale. It was the largest commercial property sale in the kingdom.

When he covertly announced the auction, other merchants wanted to auction their property as well. The report said over 250 thousand in property was being auctioned.

Will search frantically in the report for the date, time, and location.

"It's today! An hour from now in the Royal Academy theater! Michael hurry bring the carriage," Will shouted excitedly.

"They also hide this from me. But thanks to Crown Prince Roland, I found out. This was probably why he sent the report last night," Will said.

After sitting in the carriage, Will continued to read the report.

"Driver, let's pick up Mei first before heading over," Will instructed.

Will owned stores in Guidon, Gadreel, and Yorkshire, and General Store in the former Marquis vont Hanover territory.

That's right, after the run on the banks which Marquis vont Hanover lost his title and some of his territory. Will bought some adjacent land in his parent's name, doubling the barony's size and adding three small new villages.

This report listed thousands of shops being auctioned across the kingdom. Geographically, there were available shops across the country. But, the fewest number of shops existed in the east.

Eastern Lord Viscount vont Claybaugh managed to increase real estate by conquering his neighbors during the pandemic. After conquering his neighboring lords, he became the de facto power in the east and nationalized all the profitable business.

After merging military and economic power, the Eastern Coalition was a considerable threat. Despite his peerage, he held the land and wealth of an Marquis.

Will had never visited the Eastern Region of Fermion. The Eastern Region was filled with rolling hills and tall mountains that separated Fermion and Albania from the Great East Empire.

The only way to get to the empire was to walk through excavated mountain passageway.

Scholars tough children this was how the first setters reached Fermion and Albania.

Now, the East was responsible to fortify the mountain path to prevent imperial encroachment.

Fermion and the Eastern Empire had their brinkmanship in the past, but the last 100 years or so was relatively peaceful. Instead of invading, the empire preferred for Fermion and Albania to fight to the death.

To imperial nobles, Ferminians were uncultured mongrels. The same could be said about Albania, except for the Albanian navy. Although Albania was a comparatively smaller country to Fermion and Eastern Empire, they were strong militaristic with a powerful army and even stronger navy.

Thus, the three human countries had a tenuous relationship.

Viscount vont Claybaugh used that knowledge to strengthen his coalition. As the largest power in the east he argued that if he fell, the east fell, and the empire could easily breakthrough.

In truth, it was a rather daring and ingenious plan. A plan that hinged on imperial antipathy.

Using the fear of the 8-Day Pandemic as a dog whistles, he expanded his land account holdings.

Will was curious if he'd meet Viscount vont Claybaugh. After all both men controlled Fermion's only trade routes now. That was a lot of power in the hands of two men.

It wasn't long until Mei joined Will in the carriage.

"Mei, have you heard anything about Baronet vont Hernandes holding an auction?" Will said putting down the report.

"No, Boss Will. If I knew about an auction, I would have informed you in my weakly report," Mei said anxiously.

"It's alright. Baronet vont Hernandes did a good job hiding this from us. But we know found out ahead of time. That's good enough. Do you know of any other lords or merchants buying lots of property?" Will asked curiously.

Yes, Barons Carlsberg and Sexton have bought several large warehouses, but no stores. They also approached us about opening a store in Gadreel. I planned to inform you next week," Mei said.

"Did they speak about what they want to open?" Will asked.

"Yes! A giant General Store. A store three times larger than a normal store," Mei replied reading from her notes.

"A department store?" Will said impressed.

"Anyone else?" Will asked hurriedly.

"Another name that's gained notoriety is Earl vont Hannover. During the pandemic, he gained back much of his family's lost land. After conquering the land, he seized closed properties. According to rumor, he wants to sell them to the highest bidder," Mei said diplomatically. Will and the vont Hanover's had fought once before.

"Lastly, what is their relationship with each other," Will asked one last question.

"Earl vont Hanover and Viscount vont Claybaugh have no relationship. While most have major influence within their regions, their fiefdoms are on opposite sides of the kingdom.

Earl vont Hanover and the barons seem on good terms. It was rumored the barons wanted to buy a piece of property seized by Earl. Imagine they'll purchase that property this auction.

However, Viscount vont Claybaugh and the barons have a contemptuous relationship. The barons looked to buy property held by the viscount, but he refused. Now they stay at odds," Mei finished.

"Excellent, the information you provide was very helpful. We shall plan to bond with the barons, and check the temperature with the viscount and Earl," Will said.

"Boss Will, how come the bank wasn't informed of this auction. Most of the bankrupt and closed businesses are debtors of the bank," Mei wondered.

"This is a fire sale auction. Due to the 8-Day plaque, many borrowers want to quickly sell their businesses at a very low price.

They are doing this to decrease the amount they'll personally need to pay back to the bank and avoid any foreclosure.

This is also a great opportunity for investors to purchase discounted business below market price. Who doesn't want a prime location for their business," Will informed Mei?

"Boss Will, won't this cause problems for the bank?" Mei asked.

"You are quite perceptive. That's why you are my number one clerk in the whole kingdom. Have you ever read the contacts we make borrowers sign? All contracts stipulate the bank must sign off on the Fire Sale agreement. Only the bank can approve such transactions.

Since most buyers and sellers, want to move quickly, the length of time takes our bank to review the transaction can vary greatly," Will emphasized the word greatly.

"Doesn't that give us all the power?" Mei asked.

"Well not all, but it assures the bank's money is secured first in all transactions. This means any property of ours that's auctioned off, goes straight into the bank. That's the reason we were most likely not invited. They wanted to do this under our noses, as Baronet vont Hernandes is one our biggest borrowers," Will said.

The carriage pulled to a stop outside the Royal Academy.

Will, Mei, and a company of Royal Guards walked into the theatre.