Morning in Kyiv began with noise.
When Skoropadskyi opened the window of his hotel room, the usual sounds of Podil were already rising from the streets below. The creaking of carts on the cobblestones, the shouts of dockworkers near the pier, and the dull thud of wooden crates being moved from wagons onto barges.
A light mist hung over the Dnipro.
Several boats moved slowly across the water, loaded with sacks of grain. Farther down the river a steamer carefully maneuvered between barges.
The city was waking up.
Some time later Skoropadskyi was already sitting in the same office where the creation of the bank had been discussed the previous day.
The lawyer and the banker were waiting for him.
Several stacks of documents lay neatly on the table.
The lawyer opened a folder.
—"We have prepared the draft charter."
He pushed several pages across the table.
Skoropadskyi began reading carefully.
For several minutes the room remained quiet.
The lawyer occasionally made notes with a pencil.
Finally Skoropadskyi placed the papers on the table.
—"The structure looks reasonable."
The lawyer nodded.
—"The board of directors must consist of at least five members."
—"That will not be a problem."
The banker sitting opposite added:
—"There must also be a supervisory council made up of representatives of the investors."
Skoropadskyi nodded.
—"Lizogub has agreed to join the council."
The lawyer immediately wrote it down.
—"That will strengthen confidence."
The banker opened a small notebook filled with calculations.
—"If the first investments are confirmed, the starting capital of the bank will reach about two million rubles."
The lawyer raised his eyes.
—"For a new bank that is a serious amount."
Skoropadskyi answered calmly.
—"This is only the beginning."
The banker studied him for a moment.
—"Most banks begin with smaller capital."
—"Most banks are not planning to finance industry."
The banker allowed himself a faint smile.
—"Industry requires patience."
—"Yes."
—"Factories do not begin producing profit immediately."
Skoropadskyi replied quietly:
—"But when they do, trade in entire regions changes."
The lawyer turned another page.
—"Now the main question. Which projects will the bank finance first?"
Skoropadskyi took a folded map from his portfolio.
He spread it across the table.
The banker leaned closer.
Several cities were marked in pencil.
Kremenchuk.
Kryvyi Rih.
Elisavetgrad.
Skoropadskyi pointed to the first.
—"Kremenchuk."
The lawyer understood immediately.
—"The flour mill."
—"Yes."
The banker asked:
—"How far has the construction progressed?"
—"The walls of the main building are almost finished."
He continued.
—"The mill will process about forty tons of grain per day."
The banker made a quick calculation.
—"That is about fourteen thousand tons per year."
—"Approximately."
The lawyer asked:
—"What is the total cost of construction?"
—"Around four hundred thousand rubles."
The banker made another note.
—"If grain prices remain stable, the investment could return within six or seven years."
Skoropadskyi said calmly:
—"Probably sooner."
The banker looked at him.
—"Why?"
—"Grain trade is growing."
He pointed toward the river on the map.
—"And Kremenchuk stands directly on the Dnipro."
The lawyer nodded.
—"River transport is still cheaper than railways."
Skoropadskyi moved his finger further across the map.
—"The next project is Elisavetgrad."
The banker frowned slightly.
—"Industry develops slowly in towns like that."
—"Perhaps."
—"Why choose it?"
Skoropadskyi replied calmly.
—"Because the entire region is agricultural."
He continued.
—"Farmers need tools. Metal parts. Workshops that can repair equipment."
The lawyer said:
—"Mechanical workshops?"
—"At first."
—"And later?"
—"Later production can be expanded."
The banker tapped his pencil against the table.
—"Plows. Seed drills. Harvesting equipment."
—"Exactly."
The lawyer added:
—"But the bank cannot finance several large projects at once."
—"And it should not."
Skoropadskyi pointed again to the map.
—"First Kremenchuk."
He paused.
—"Then Elisavetgrad."
The banker nodded.
—"That is a reasonable order."
He studied the map again.
—"And Kryvyi Rih?"
Skoropadskyi turned the map slightly toward him.
—"That project has already been discussed."
The lawyer looked up.
—"Metallurgy?"
—"Yes."
The banker became more attentive.
—"How serious are the plans?"
—"French and Belgian companies are prepared to participate."
The lawyer asked:
—"A full metallurgical plant?"
—"In the first stage about 15,000 tons of metal per year."
The banker wrote another note.
—"That is a large enterprise."
—"Foreign partners will provide most of the capital."
Skoropadskyi tapped the map lightly.
—"But the bank can participate in financing infrastructure."
—"Railways?" the lawyer asked.
—"And warehouses. And equipment deliveries."
The banker studied the map for a moment.
—"If the plant begins operating, metal prices in the south may fall."
Skoropadskyi answered calmly.
—"Then production will grow faster."
The lawyer asked:
—"And if the foreign partners attempt to gain full control?"
Skoropadskyi allowed himself a faint smile.
—"Then they will have to negotiate with those who control the loans."
The banker closed his notebook.
—"Which means the bank."
—"Exactly."
The discussion continued for several hours.
They spoke about loan sizes.
Interest rates.
Possible risks.
Finally the banker said:
—"If the investments are confirmed, the bank will be able to allocate its first funds within several weeks."
Later that day Skoropadskyi stepped outside.
Podil was crowded.
Merchants discussed grain prices near warehouses. Workers unloaded barges along the riverbank.
Near one shop two traders were arguing.
—"Did you hear?"
—"Hear what?"
—"They say the nobles are creating a new bank."
The second man smirked.
—"I would like to see how that works."
—"If they start issuing loans, half the factories will go to them."
—"And the other half will complain about the interest."
Skoropadskyi walked past them.
By evening he returned to the hotel.
A letter was waiting on the table.
It had arrived from Kremenchuk.
Skoropadskyi opened the envelope.
The letter came from the construction site of the flour mill.
The walls of the main building were almost complete. Engineers were preparing the area for installing the machinery.
Some of the machines had already been shipped by railway.
He placed the letter back on the table.
The work was moving faster than expected.
The next day the lawyer prepared the first document.
Several sheets lay on the table.
—"This is the financing agreement."
Skoropadskyi took the pen.
For a moment he studied the document.
Then he signed his name.
The Industrial–Land Bank of Ukraine was allocating its first funds.
The money would accelerate the construction of the flour mill in Kremenchuk.
The lawyer placed the official seal on the document.
The banker closed his notebook.
The work of the bank had begun.
That evening Skoropadskyi walked again to the river.
Lights appeared across Podil.
Barges moved slowly along the Dnipro.
He watched the water for a moment.
There was still much work ahead.
But the first decision had already been made.