Chapter 912: Clear Origins

He knew full well that this audacious Geng Mancang was now the grain steward of the Zhao Camp. He might not have much grain in his own hands, but the amount he could mobilize was enormous. With the Zhao Camp behind him, every household in Qingjiangpu had to give him face. So whatever the need, going directly to Geng Mancang meant no worries about supply and no worries about price.

The first order was forty thousand dan, the second sixty thousand dan, and the third would be no smaller. Transport costs were no concern; they just needed the grain piled up at the dock, and it would all be paid at the current market price.

Not having to worry about transport costs meant saving ten to fifteen percent per dan of rice, a margin Geng Mancang would pocket. A few hundred wen per dan, ten percent was no great sum, but this was a massive deal exceeding a hundred thousand dan. Ten or fifteen percent amounted to a considerable fortune.

Moreover, in the Southern Metropolitan Region, large-volume grain deals were never done at the current market price. Vast stores of grain sat in warehouses at all times, every house waiting to sell. Just being able to sell was good enough—who could haggle over price? And this "current market price" arrangement let Geng Mancang profit even more. It was the end of the second month, the lean season when the old grain was gone and the new not yet in; grain prices were at their dearest.

Whether the transport costs or the market price, these were terms never before seen in the tribute grain trade of the Southern Metropolitan Region. But in the world of business, everyone understood the meaning: these extra, irregular profits were Geng Mancang's personal benefit.

Geng Mancang was no longer running his own business but working for someone else, and his income now depended on these dividends and perks. By the rules of the marketplace, since such benefits were given, he was expected to put his heart into the job.

Last year, when the Zhao Camp blocked the river and stirred up trouble, most of the autumn grain never made it north. After the river opened this year, with last year's huge backlog plus this year's spring grain, the canal would surely be frantic and jammed. At a time like this, shipping private commercial goods north was extremely difficult. Besides, with last year's river closure, the big grain merchants' own businesses had suffered too. Now that the river was finally open, they naturally had to look after their own interests first, and there was a first-come, first-served order. This last-minute business would have to wait.

On the ground in the Southern Metropolitan Region north of the Yangtze, only the Cloud Mountain Firm of the Xuzhou system could temporarily mobilize grain and fodder, and dispatch boats to depart on schedule. These benefits, far exceeding normal practice, were given to Geng Mancang precisely for this. One had to understand that while a Battalion Commander held no small rank in the canal transport hierarchy, even he could not commandeer the tribute boats.

That Battalion Commander was thorough and meticulous in his work. He first paid a portion of the deposit in silver, then tactfully conveyed this intention. Everyone made their living on the canal and understood the rules; they had past dealings, and many things needed only a hint to be clear.

"... Don't laugh at me, Master Jin, but my greed is well-known in this Southern Metropolitan Region. And this deal of over a hundred thousand dan is just routine turnover. But this man wanted it a bit too urgently, and the silver was paid too readily. I grew suspicious and used old connections to make some inquiries..."

Everyone knew Geng Mancang was greedy, and they also knew that for the Cloud Mountain Firm's grain operations, a hundred-odd thousand dan was no great figure, and they could provide all sorts of conveniences—so it was normal for someone to approach him. But Geng Mancang, working for Zhao Jin, now thought differently than before. After all, he was a man who had rolled through the business world and dared to take lethal risks; he was bound to think a great deal.

But that Canal Transport Battalion Commander hadn't really concealed his purpose. To him, this was simply a business deal. The price he gave Geng Mancang was the Southern Metropolitan Region market price, but the price others gave him was the Shandong market price. There were also some savings to be made during the grain shipment. With such great profit to be had, and favors to be sold both north and south, why wouldn't he do it?

Even without using the Zhao Camp's eyes and ears, Geng Mancang, through his own connections, had dug up a great deal of information. For instance, this Canal Transport Battalion Commander was an incense-burning sect believer—no surprise there, since eight or nine out of ten canal soldiers and transport troops who ate from the canal were members of the Smelling Incense Sect or the White Lotus Sect. It was said that this Battalion Commander had recently offloaded a batch of goods in Qingjiangpu: quite a few valuable antiques and curios. He had also brought out a batch of gold to exchange for silver and copper coins, earning a very handsome sum.

Qingjiangpu was the most prosperous and wealthy place under heaven, the most efficient place for the circulation of wealth and goods. It had many rich households, and the demand for antiques and curios was great. Moreover, it was very close to Yangzhou, where the salt merchants' demand for such things was even greater. As for exchanging gold and silver, apart from a few ports handling the Japanese trade, there were few places under heaven more convenient than Qingjiangpu.

According to the news Geng Mancang had gathered, the origins of this batch of antiques and curios were unclear, and the quality was mixed—priceless treasures alongside fakes and forgeries. Clever people understood this pattern: it resembled the loot of some large bandit gang, or black-market goods from a major fence who controlled several prefectures or even an entire province. But stolen goods at this level no longer required fear of the original owners pursuing the matter. If one dared to bring them out, presumably there was no fear of pursuit. Besides, this Battalion Commander was a registered official figure in Qingjiangpu. The goods he brought out were, in a sense, guaranteed by his own status, so the offloading went quite smoothly.

That batch of gold was like the antiques—the purity varied greatly. Those in the know could see that there were ingots and bars smelted from the hidden treasures of wealthy households, as well as gold nuggets only recently refined. The latter were of very poor purity, but an understanding person could deduce their origin: nine times out of ten, they had been smelted from various pieces of jewelry, presumably also a class of stolen goods.

Although their origins were unclear, there was no proof they were stolen goods. Moreover, this batch of antiques and curios was priced ten or twenty percent below the market rate, and the gold-to-silver exchange ratio was also considerably lower than the market. There was a great bargain to be had here; even people from Yangzhou came to take a look. Since everyone benefited, no victim filed a complaint, and neither the authorities nor the Zhao Camp investigated or stopped it, naturally no one made trouble. Besides, the Cloud Mountain Firm and the Huai'an Prefectural government both took a bite; no one was in a position to point fingers.

"... This humble one believes it is the Shandong Smelling Incense Sect buying grain. Only they could produce those items exchanged for silver, and this grain is to be unloaded near Jining..."

Because in the autumn and winter of last year, Eunuch Wei Zhongxian, the Supervising Grand Eunuch of the Directorate of Ceremonial, had dispatched grain inspectors to Jining, Linqing, and Tianjin to seize stored grain. The public and private stores in those places had all been emptied, all waiting for this year's tribute grain to replenish them. But at present, the Northern Metropolitan Region and the capital were also waiting for this year's tribute grain. Only after this most critical shipment was replenished could it be the turn of those other places. By any calculation, that wouldn't happen until around the sixth month.

Shandong was currently suffering a great disaster, and grain prices were soaring. Could someone be trying to exploit this to resell for enormous profit?

But selling grain at high prices in a famine year was a violation of official taboos. Without backing, nine times out of ten one would lose both fortune and life, possibly even one's very life. Besides, in such a famine year, protecting such a large volume of grain would be no easy task.

All things considered, in Shandong, only two powers had such reach: one was the Prince of Lu's Estate, the other was the Confucius Estate of the Duke for Fasting the Sage. Only such an imperial prince's house and the lineage of the Sage would dare reach for such a heartless business. But this thought was immediately dismissed. Hoarding goods, speculating, and profiting from misery—these two houses had done plenty of such filthy deeds. And now was indeed a fine season for profiteering from grain sales. But they had no shortage of grain; they were already the largest landlords in Shandong and certainly possessed vast stores.

Thinking again of those antiques and curios of unclear origin, and the gold nuggets of mixed purity, Geng Mancang could roughly guess the truth. Originally, he had wanted to pocket this convenient profit, but after considering this possibility he had been unwilling to entertain, he dared not take such a great risk.

The expressions of the several men in the room were very grave. Before Geng Mancang had even finished, everyone could already guess that the Smelling Incense Sect was behind it.

"Back then, the refugees came all the way south from Shandong, crossed the Yellow River, and besieged Xuzhou. Before that, they had been stockpiling grain and fodder along the route. Now they want such a large amount—could they be planning another major move?" Wang Zhaojing spoke up.

Although the core secrets of the Smelling Incense Sect were still seen as through a mist, their past patterns were now roughly understood, especially the time tens of thousands of refugees besieged Xuzhou. At the time, it had seemed without any warning, a sudden surge toward Xuzhou. Afterward, Zhao Jin and his companions had studied it in great detail.

From how the Smelling Incense Sect had arranged grain along the route to sustain the refugees' advance, to how they incited them, maintained the presence of key operatives, and screened out usable elite forces along the way—all had been thoroughly investigated. The reason for wanting to know this was simple: to prevent trouble before it happened.

From the Zhao Camp's humble beginnings to its present strength, the greatest threat to Xuzhou had not been government troops or local strongmen, but that refugee siege. The experience could only be described as soul-stirring. Recalling it afterward brought no relief, only increasing horror. The slightest misstep that time, allowing the refugees to flood into Xuzhou city, and no matter how valiant the Zhao Camp was, it would have been useless. Tens of thousands of refugees would have become hundreds of thousands, like a natural disaster, destroying everything in their path.

Because of this experience, Xuzhou kept a very close watch on any large-scale refugee movements, including the prior preparations and various signs. There had been no news all along, but now, they saw the stirrings of activity.

"The great Shandong earthquake devastated the three western prefectures; the people are destitute. It truly is a perfect time for rebellion. And now they've begun preparing grain—it seems they intend to stir up a major revolt." Zhao Jin affirmed Wang Zhaojing's statement.

Ru Hui pondered for a moment, then spoke: "Their grain purchase can be described as sparing no expense; what they want is urgent transport. If Old Geng here had agreed, the grain would have been fully assembled near Jining Prefecture by mid-third month. If we refuse, buying grain from other places in Qingjiangpu, they could still gather this amount by around the sixth month. Could it be that their move is planned between the fourth and sixth months?"

Everyone nodded. The reason they had approached Geng Mancang was simply that they valued his ability to mobilize and maneuver quickly. What they wanted was speed.

Wang Zhaojing spoke again: "The Smelling Incense Sect has its agents everywhere, and with those half-hearted canal transport people passing them messages, the Shandong Smelling Incense Sect surely knows our capabilities. Procuring large volumes of grain here in the Southern Metropolitan Region north of the Yangtze, destined for Jining in Shandong—we were bound to find out. Does the Shandong Smelling Incense Sect dare to move so brazenly?"

Thanks to Qidian friends "Qi Sanwen" and "Yuan Heng Li Zhen," and Chuangshi friend "Sui Xin Zi Wo 0" for their tips. Thank you all for your subscriptions and monthly tickets.