Sheng Xuanhuai is the representative of the first generation of the bourgeoisie in modern Chinese history and a controversial historical figure. The Sheng family had accumulated huge wealth during his lifetime, and the Sheng family once asked Li Jingfang, Sheng Xuanhuai's best friend and son of Li Hongzhang, to preside over the liquidation of his estate, and the total value of his property was 13,493,868 taels. Among them, Shanghai Daoqi Real Estate was valued at more than 6.68 million taels, and mainland real estate was valued at more than 980,000 taels, totaling more than 7.67 million taels, accounting for 56.84% of the total estate; The total valuation of various industrial stocks, including the shares of Hanyeping Company, was more than 5.11 million taels, far less than real estate, which Sheng Xuanhuai was actually the largest real estate developer in the late Qing Dynasty. (Ding Shihua collated "Sheng Xuanhuai's Heritage Analysis of Historical Materials", edited by the Editorial Department of Modern History Materials of the Institute of Modern History, Chinese Academy of Social Sciences, Modern History Materials, No. 111, Beijing, China Social Sciences Press, 2005, p. 160)
In the early 80s of the 20th century, the storm came and went, and the publications on the roadside stalls called it "the father of business"; The author of "Sheng Xuanhuai Biography" and "Sheng Xuanhuai Long Compilation" summarized Sheng's contribution to modern China as "the founding of the eleven 'firsts'", including steamship transportation, telegraph, steel, railways, banks, schools, the Red Cross, libraries, etc., and added three championships to Sheng: industrialist, educator, philanthropist. (Xia Dongyuan, New Treatise on Modern History, East China Normal University Press, 2010, p. 178) This theory was widely circulated and made into a feature film. - The only item that did not involve real estate in the uproar was intentionally or unintentionally ignored.
To evaluate Sheng Xuanhuai realistically, comprehensively and deeply explore Sheng's sources of wealth and the process of capital operation and accumulation, among which real estate management is indispensable. In the following, the author will only briefly introduce the scattered historical materials I have seen about Sheng Xuanhuai's real estate activities.
Sheng Xuanhuai
Xu Run's accusation against Sheng Xuanhuai
After the Opium War, the closed country of the late Qing Dynasty was bombarded by the cannons of Western powers, and groups of blond foreigners swaggered in, wanting to enjoy privileges in China and to maintain and develop their way of life, and Shanghai and other trade ports appeared a state within a state - concessions. What followed was a complex of Western-style buildings, or missionary churches, or foreign businesses engaged in various businesses, or mansions of Western gold diggers, most of which were magnificent and became unique landscapes. As a result, a large amount of capital has been attracted and a highly speculative real estate industry has been created. Most foreign churches have religious property for rent, and some also have companies that operate real estate.
When Shanghai was opened as a trading port in 1843, its population was only 270,000. After more than half a century, every time there was a war, the concession became a safe haven, a large number of rich people with their families and gold and silver treasures poured in, by 1860, the Taiping army captured Suzhou, the number of Chinese in the Shanghai concession soared to 300,000, and in 1861, the land in the Shanghai concession soared from 200 taels per mu to 1200 taels, and even bought for 1000 taels, and the price was as high as 2500 taels after several resale. Where the benefits are, they flock to it. In addition to foreign businessmen, there are also Chinese who are compradors in foreign companies, and Xu Run, who once founded the steamship China Merchants Bureau, is one of the representative figures engaged in real estate business in the early days.
Xu Run was once known as "China's largest tea exporter and largest real estate developer in the early 20th century", according to his own list in the chronology, up to the ninth year of Guangxu (1883), the total cost of the land mu real estate was 2,236,940 taels, plus various share capital and joint business pawns, and the total amount of silver was more than 3.21 million taels. On the surface, it seems to be very pompous, but there is no real estate that does not borrow from money banks and banks, and Xu Run has invested more than 2.52 million in the funds invested by various money banks, stock and real estate mortgage loans, and retail deposits, accounting for a large proportion. Real estate is a high-input industry, high profits and high risks exist at the same time, Xu Run operates like this, as long as real estate prices continue to rise, it will still get big profits; Unfortunately, in the Shanghai financial turmoil of 1883, the famous red-capped businessman Hu Xueyan's Fukang Qianzhuang collapsed, causing a chain reaction, and Xu Run's Baoyuanxiang Real Estate Company was also faced with Qianzhuang debt claims and depositors' withdrawals, and was forced to "not sell off at a low price, with a cost of 3 million and hundreds of millions of yuan, only apportioning more than 2 million yuan, the settlement was completed, and the loss was 8.9 million." (Xu Run, "Xu Yuzhai's Self-Narrative Chronology", edited by the Chinese Historical Society, Foreign Affairs Movement, VIII, Shanghai People's Publishing House, 2000, pp. 125-126)
More unfortunately, in the autumn of that year, Sheng Xuanhuai was ordered by Li Hongzhang to return to China Merchants Bureau for rectification, and Xu Run hit the knife and was dismissed. Originally, it owed China Merchants Group 162,256 taels of silver, which was repaid with stocks, real estate and cash. A piece of fat fell into Sheng Xuanhuai's mouth, and more than four acres of land on Zhapu Road, Sheng said to people: "This land has not been redeemed, and Yu Yuji (Xu Run) is indecent on his face, I will redeem it, so as not to hang up an account." "At that time, the price was 22,000 taels, and it became a flourishing industry. Xu mentioned this matter in the annals with hatred and hatred, accusing Sheng Xuanhuai: "So I took the original value according to the ten years, not only selling his name, but being suppressed by the forces, those who know dare not speak, those who do not know treat me with kindness, and the mouth is honey and sword." Xu also said that he had land at Nanliupu Wharf, which was worth 450,000 gold, but was bought by China Merchants Group for 26,000 taels.
Sheng Xuanhuai is engaged in real estate, later than Xu Run, and is a rising star. In the financial storm, but it rose and fell, Xu Run could only lament and sigh to himself: "There is no secret help, to the Revolution; At the same time, with Tarzan pressing eggs, who dares to say anything. (Xu Run, "Xu Yuzhai's Self-Narrative Chronology", edited by the Chinese Historical Society, Foreign Affairs Movement, VIII, pp. 129-131)
Yang Wenjun's land purchase suffered a loss
At the end of 1896 (the 22nd year of Guangxu), Sheng Xuanhuai had taken up the post of supervisor of the railway company, and decided to start the construction of the Songhu railway in Shanghai while preparing for the construction of the Luhan Railway. Twenty years ago, in 1876, the British built a railway in Songhu without authorization, and the Qing court bought it at a high price and demolished it. At this time, the reconstruction is intended to expand its influence at home and abroad, creating conditions for loans and IPOs. After Sheng led the engineers to survey, he reported to the imperial court that although the steel rails of the road had been removed, the roadbed could still be used, but the road along the coast of Wusong must be built, stacks must be set up outside the US concession, and the old road must also be expanded, and another civilian land must be purchased.
Sheng handed over the purchase of land to his henchman Yang Wenjun. Wen Jun followed Sheng Xuanhuai for many years, and successively participated in the establishment of the Railway Headquarters and the Commerce Bank, the preparation of the Jinpu Railway, and the negotiation and revision of the treaty with the great powers. Originally from Songjiang, Jiangsu, his brother Wending was successively a powerful aide to the governors Li Hongzhang and Wang Wenshao, and later served as the political envoy of Hubei, the governor of Huguang, and the governor of Hunan. However, Wen Jun had a heart disease and said that he had been severely punished by "never using" in his early years. In the fifteenth year of Guangxu, Wen Jun signed Panyuzhi County, Guangdong, and in October of the same year, when the Guangdong governor Zhang Zhidong and Li Hanzhang handed over, acting Yue Fu You Zhikai wanted to participate in the impeachment of Wen Jun, and after Li Hanzhang and Bu and Bu, You Zhikai still removed Wen Jun from his post. For this reason, Zhang Zhidong once played "Please Order" in February of the 16th year of Guangxu, and appealed for it, but did not see below. (Yuan Shuyi et al., eds.: The Complete Works of Zhang Zhidong, Volume II, Hebei People's Publishing House, p. 761) After Wen Jun was removed from office, he "spent ten years in hibernation, sitting on the mountain and eating nothing", and in order to be reinstated, he tried his best to beg Sheng Xuanhuai for his campaign and protection.
At the beginning of the 20th century, China Commercial Bank in Shanghai
Yang Wenjun was shrewd and capable, and devoted himself to Sheng, and during the preparation of the railway, he purchased land for both the Wusong Railway and Sheng privately, and the key point was to use the authority to build the railway and the information under his control to snap up the prime lot that was about to appreciate greatly due to the requisition of the railway. This matter should be carried out in secret, not only Sheng could not come forward, but sometimes Yang should not come forward; It is necessary to purchase land before the announcement of railway land acquisition notices; It is necessary to use power skills and official power to achieve low entry and high output; Coupled with the competition of British merchant Jardine Matheson & Co., the land price rose sharply, and some lots began to 300 yuan per mu, then rose to 300 taels, then rose to 350 taels, and finally rose to 460 taels! Yang searched for land, looked at the land, negotiated the price, and paid the fixed silver, the land and the deed until the payment was completed after asking Sheng for his consent, all of which were handled in person, and sometimes paid the fixed silver or advance for Sheng. Every day, I report to Sheng by secret letter to ask for instructions, and some letters are included in the "Sheng Xuanhuai Industrial Friends Draft" edited by Wang Ermin and others, and the scope and scale of the land Yang purchased by Sheng, the hall number used by the boundary stone, and Sheng's proposed establishment of a land company.
On the 18th day of the 23rd month of Guangxu, railway engineer Xileba reported: 144 mu north of Wusong are useless. Sheng wrote a letter to sternly rebuke Yang, saying that the place was "far from the playground, which seems to be inconsistent with the original survey situation, and the railway and the wharf are useless." The most difficult company to buy land has not yet been listed, and once it is revealed, the huge amount of money may be suspended and it will be difficult to sell. Your wisdom and foresight, please speed up". Kick this heavy burden to Yang and ask him to try to deal with it. (Wang Ermin et al., co-eds., "Sheng Xuanhuai Industrial Letter and Telegram," Taipei "Academia Sinica" Institute of Modern History Historical Series, page 484) The next day, Wen Jun anxiously admitted his mistake and apologized: "When this matter was first done, because it was particularly secret, as a Jun self-purchased, whether the railway was used or not, cannot be clearly told to others. And because the notice could not be put on hold for a long time, he urged a quick decision... And to make public funds vain, to the point of burdening me with public affairs. In the end, Wen Jun had to knock down his teeth and swallow inside: "Now I am raising funds with my friends, and on the other hand, I try to transfer them, and the envoy always makes up for the public funds first to clear up the public burden." The land belongs to Jun, and he is willing to admit his personal loss. It seems that 86 mu of grain fields totaled 39,560 taels of silver, and Yang had asked Sheng for instructions on "what character should be used for boundary stones", which was purchased by Daisheng and could not be famous by Sheng, but nominally bought it as Wen Jun, but it was using public funds. The original wishful thinking was to resell to the railway at a high price to make a profit, but now the railway does not need it, it is difficult to sell. The following year, Yang said in his letter that the money he borrowed last year was really "affected by his work, and he paid more than 2,000 yuan in interest, but he really did not pay for it." "Although Wusong has opened a port, and the land has not yet been paid, it has not yet been released." Later, a letter to Xiangsheng mentioned that Wu Song's land "suffered from official duties for several or ten years", and it seems that it has not yet been completed. (Wang Ermin et al., eds., Sheng Xuanhuai Industrial Friends Manuscript, pp. 1960, 1958, 1950, 1979)
Around 1906, Wen Jun was sent by the Anhui Governor Enmingza to supervise the Anhui Provincial Foreign Affairs Bureau, and also presided over the Shanghai Electric Power Bureau, and died soon after. There was a huge loss behind him, and one of them was borrowed from the hometown cultivation land in the Commerce Bank, which is now about to expire. In the spring of the second year of Xuantong (1910), Yang Wending, who was then the acting governor of Huguang, wrote to Sheng Xuanhuai for help, saying that Wen Jun had been appointed by Sheng Xuan as the general director of the Commerce Bank and served him "without receiving a salary or benefit", and begged Sheng to preside over the public discussion and consult with the directors of the Commerce Bank to try to cancel this paragraph. (Wang Ermin et al., eds., Sheng Xuanhuai Industrial Friends Draft, pp. 2002-2003) It is not known whether this deposit was cancelled.
Chinese New Year's Eve night to snap up the land of Dazhimen in Hankou
Sheng Xuanhuai, excluding Shanghai overseas, has a total estimated value of 984,090 taels of real estate in the mainland. Among them, the real estate valuation in Wuhan is 563,059 taels, accounting for most of the half. According to the article "Tsubaki Sun Should Do All Questions" in the "Sheng Xuanhuai Unpublished Letter Draft", the real estate owned by Sheng was in the Hankou British Concession, Zhangmeizhi Xiangkou (Liudu Bridge), Dazhimen, Chenjiajiso, Wangjiadun and Wuchang Riverside, all over the east, west, south and north of Hankou, most of which were prime locations for newly built urban areas.
In the early days of taking over the Hanyang Iron Works, Sheng took advantage of the construction of the Luhan Railway to hoard land in Wuhan. When the Beijing-Hankou Railway was opened, Hankou Railway Station was in Dazhimen. After Sheng's death, Dazhimen still had two real estates, one was Hezui, with 1,471 square meters of land, with an estimated value of 88,260 taels, and the other was in Hejiadun, with more than 2,398 square meters of land, with an estimated value of 107,919 taels. (Ding Shihua compiled "Sheng Xuanhuai's Historical Materials for Inheritance Analysis", pp. 172-176) In 1904, Sheng Xuanhuai established the Gongshun Company to operate real estate, which was run by relatives and friends. At the end of this year, the Yellow River Railway Bridge was completed, and the Luhan Railway had been connected to the north and south, and Sheng had made a big deal with Liu Xiang, the land king of Hankou.
Dazhimen was originally the gate of Hankou Castle, and the original site was at the intersection of Dazhi Road and Zhongshan Avenue, which was originally the main passage into Hankou City. At that time, near the Dazhimen city wall, Liu Xiang had more than 6,000 square meters of land, and the actual price of each party was 23 taels of silver, which was about 1.34 million taels of silver, and a preliminary draft agreement was reached with Sheng, and 4,000 taels of silver had been handed over. At the end of the year, the original manager of Hankou called Sheng to report: because of the construction of the Houhu embankment, the land price has risen sharply, and it is planned to increase the price after the New Year, and the transaction must be completed within the year to avoid disputes. Sheng Xuanhuai believes that it is very unreasonable to call without talking about the actual amount of land after measurement, and only to urge the transaction. On the 26th of the month of Layue, Zhang Zanchen, the person in charge of the Hanyang Iron Factory, was ordered to intervene in the matter, and Shi Ziqing, who was familiar with the situation, urged the original person to handle it properly. "Thirty thousand have been transferred. Or make a deed first, pay 30,000 silver, and pay the balance in two installments, all pray for discretion, do not feel like a branch. "It's obviously about it. Zhang Zanchen did not dare to slacken, and discussed with Sheng Xuanhuai's relative, Shi Ziqing of the Hankou Telegraph Bureau, and Shi believed that buying land in Hankou was very complicated, and it was most prone to problems, and it was necessary to have a deed and a clear measurement of the four addresses before the transaction could be completed. Zhang truthfully replied to Sheng on the 28th, believing that "the number is too large, and we should always be cautious." On the Chinese New Year's Eve of the twenty-ninth day, Zhang found out that there was no entanglement in the land, because he wanted to make the contract within the year, and the other party demanded to pay half the price immediately: "If you don't pay the fixed silver today, it's okay." Zhang Telegram told Sheng: "Now that you are Chinese New Year's Eve, why should Chen raise tens of thousands of dollars?" After a letter of constitutional telegram, he also cut Ziqing, and Qu Yundi did not dare to handle the matter. What should I do? Beggarly to comply. As a result, there was a dramatic scene, at three o'clock in the morning on the first day of the Lunar New Year in the year of Guangxu (1905), amid the sound of firecrackers from 10,000 families welcoming the new and removing the old, Sheng Xuanhuai in Shanghai called Zhang Zanchen of Hanyang Iron Factory: "It is feasible to pay half the price first, but the Chinese New Year's Eve has passed the power connection, and the price of the deed can be about the beginning of the year, waiting for the resumption as soon as possible." (Chen Xulu et al., eds., Hanyeping Company, II, Shanghai People's Publishing House, 1986, pp. 1030-1033)
It is worth adding that in the future, Dazhimen was not only the location of the Hankou railway station, but also faced the French concession and the Yangtze River wharf connecting the Guangdong-Han railway. Since the opening of the Beijing-Hanhai Railway, Xu Huandou lamented in the "Hankou Xiaozhi" in the third year after the Xinhai Revolution: "It is extremely prosperous, the main roads between the north and the south, the water and land passages, and when the train stops, department stores are in full swing, thousands of merchants gather, and low-class laborers gather here by picking up the people who make a living." "It has become the most prosperous commercial center and transportation hub in the three towns of Wuhan, leading the way for more than 100 years.
Sheng Xuanhuai and Duanfang: Xie Ling must also tie the bell person
As an official, Sheng's reputation was not good at that time, and he was impeached many times. Li Hongzhang, Wang Wenshao, Liu Kunyi, Zhang Zhidong, these top local officials have been ordered to conduct secret investigations more than once, and the result is that Shengdu is safe and sound. According to the descendants of the Sheng family, Prince Gong Yi once said to Sheng Xuanhuai in person: "Jun Yi has repeatedly participated in the same people, and the grace cannot be described as deep." (Sheng Tongyi, "Sheng Xuanhuai Xingxing", edited by the Chinese Historical Society, "Foreign Affairs Movement" VIII, Shanghai People's Publishing House, 2000, p. 57)
During the Ding Wei political tide a year before Cixi's death, the Minister of Military Aircraft and Shang Shu Qu Hongshe of the Ministry of Foreign Affairs was suddenly expelled, and the military aircraft department was greatly reorganized, which affected Sheng Xuanhuai and was impeached again, that is, to make a fuss about him buying and selling land. On the twenty-eighth day of May 33 of Guangxu, "Emperor Zhi": "Some people played: Sheng Xuan, the minister of commerce and contract, was greedy and short-sighted, acted in the same philistine, and had sold public land and extorted the purchase of people's land. At this time, Duanfang was appointed as the governor of Liangjiang, and ordered him to investigate separately according to his references. (Guangxu Dynasty Donghualu V, Zhonghua Bookstore, 1958, p. 5688)
On May 20, 1886, Sheng Xuanhuai (front row, left), a foreign affairs cadre under Li Hongzhang, and some other officials of the late Qing Dynasty took a group photo
Sheng Wenxun assigned Tao Xiang, a close confidant in Beijing, to secretly inquire about half a month, it turned out that it was Chen Qinggui who was involved in Cen Chunxuan's "arrogance and lawlessness", and another appendix impeached Sheng for building the Shanghai-Nanjing Railway to "privately buy official land and extort people's land", and said that Sheng and Cen were in partnership. The inside story behind the scenes is that Cen Chunxuan, who is deeply trusted by Cixi, took advantage of the transfer to the governor of Sichuan and suddenly entered Beijing to join forces with Qu Hongshe to overthrow King Qing and Yuan Shikai; Cen once planned to serve as Shangshu of the Ministry of Posts and Communications, and would rob the lair of Yuan Dang, Tang Shaoyi and others. The other party not only suspected that Sheng was Cen's accomplice, but also thought that Cen was instigated by Sheng to take the chair of the Ministry of Posts and Communications, so he participated in this role. (Chen Xulu et al., eds., Before and After the Xinhai Revolution, Shanghai People's Publishing House, 1979, pp. 56-57)
Duan Fang was originally a close friend of Yuan Shikai, and Yuan had a secret letter at this time informing Duan: Cen Xiao recommended Sheng Xuanhuai, Zhang Jian, Zheng Xiaoxu and others when he saw him, but Cixi was not satisfied, but he was countered that Cen was preparing to support Guangxu to return to politics, which hit the point. Yuan also suspected that Sheng was providing financial support behind his back, and the other side mocked Sheng for fearing that "the yellow crane is gone forever." (Liu Housheng, "Biography of Zhang Jian", Shanghai Bookstore, 1985, p. 142) Yuan's concealment of the end shows that their relationship is extraordinary. More importantly, it is said that Chen Qinggui participated in Cen and Sheng, and it was Duanfang who instigated and provided clues. Because Cen Shang was stranded in Shanghai to plot a comeback, or it was possible that he coveted the position of the governor of Liangjiang, threatening Duanfang's position, Duanfang instructed Yushi to drive Cen out of Shanghai as soon as possible. In fact, Duan and Yuan have formed a community of interests, viewing Cen and Sheng as opposites. (Zhang Jianbin, "Duanfang and the "Ding Weizheng Tide", Modern History Research, No. 3, 2021)
The Swiss side handed over the secret investigation task to Su Song Tai Dao Ruilan. In the text, in addition to investigating Sheng's purchase of land for China Merchants Group in Shanghai according to the above designation, and increasing the amount by himself, it is also necessary to check how many real estate Sheng has, the source of shares, and the real estate of Commerce Bank. Sheng read Duanfang's text and drew a red line for how China Merchants Group's cronies would respond: only answer how the land purchased by China Merchants Group designated by the imperial court, and other commercial bank real estate were not designated by the imperial court.
According to this caliber, China Merchants Group listed the 18 land purchases by hand one by one, counted the deeds of Dao, and replied to the official in writing, claiming that "the title deed is complete, the terrain is reasonable" and "there seems to be no harm", and completely denies the allegations; Regarding matters other than China Merchants Group, it said that it was "unaware" and refused to answer.
At this time, Sheng was preparing to set up the Hanyeping Company in Wuhan, and was ordered to enter Beijing in early November to "prepare for summoning", but could not go to Nanjing to meet Duanfang in person. On the twenty-seventh day of October, he sent a secret letter to Zong Zidai, a close aide of Duanfang, who was Sheng's in-law and a person Sheng could entrust to do things. The subject of the letter was to state the facts of the case, and although it was addressed to relatives, the words were addressed to Duanfang, and he came to the conclusion of the case on behalf of Duanwu Shuai: "In short, the minister founded China Merchants Bureau for 30 years, and the industry was worth 10 million silver at the time of the explanation. He also repeatedly explained the ins and outs of the place of the Commercial Bank, aiming to clear that this place had nothing to do with the Sheng family, and repeatedly asked the Swiss side not to reveal his hall name "Wufutang" when playing back. It boils down to one point, that is, through Zong Zidai's message, Sheng Xuanhuai wants Duanfang to completely follow the tone he delineated. In other words, that is, the feudal officials of the frontiers who nakedly want to be investigated and prosecuted act according to the intentions of the person under investigation. ——I don't know what deal they made behind their backs, Sheng was so fearless! (Chen Xulu et al., eds., Steamship Merchants Bureau, Shanghai People's Publishing House, 2002, pp. 848-851)
Sheng Xuanhuai traveled in Beijing for more than three months, and the establishment of Hanyeping Company was approved as he wished, and this case, like previous cases, was closed. In February of the fourth year of Guangxu's reign (1908), Sheng Xuanhuai was appointed as the right attendant of the Ministry of Postal Affairs, but Yuan Shikai did not tolerate it, and still returned to Shanghai to gnaw the hard bones of negotiating and resigning commercial agreements with the great powers, and it was not until December of the second year of Xuantong that Sheng was promoted to Shangshu of the Ministry of Posts and Communications. As for the real estate of Commerce Bank, it was valued at 584,920 taels after Sheng's death, ranking second among the real estate in Shanghai and proudly included in his legacy to his descendants. (Ding Shihua, "Sheng Xuanhuai Heritage Analysis Historical Materials", page 161)