After the tense meeting with Gripclaw, the goblin directed him to the office of his Account Manager, Ironfang, who oversaw the long-term assets of the two families, Peverell and Potter.
As he walked down a long, polished marble corridor, Harry noticed that the walls were adorned with antique bronze plaques. They were inscriptions of the oldest families. Harry paused, consulting his memories from reading the book Gringotts: The Wizards' Bank by Ragnok the Wise.
> THE FIRST WIZARDING CONCLAVE
>
> According to Ragnok the Wise's chronicle, these twelve houses formed the first magical governing body in Britain, the First Wizarding Conclave, the direct precursor to the Wizengamot.
Harry scanned the list, feeling the weight of history: Emrys, Pendragon, Peverell, Potter, Black, Bones, Fawley, Selwyn, Greengrass, Lovegood, Longbottom, and Throckmorton.
A thought of Ragnok flashed through his mind: of the twelve, Emrys, Throckmorton, and Peverell were considered dormant families (with no known Lord of Lineage), until today, when Peverell had claimed it.
These twelve accounts not only held gold, but, by ancient pact, were guarded by a specific goblin clan. Goblins, being hoarders, managed these vaults to increase the gold, taking a portion of the profits, which suited the goblin nation.
Harry entered Ironfang's office.
"Lord Potter-Peverell," Ironfang greeted, and slid several scrolls across his chest. The Balance Sheet and Trust Transaction Register are contained in these scrolls.
Ironfang began with the asset summary, clearly outlining the liquid funds.
*Peverell Vault (No. 2) | Liquid | Accumulated pure gold: 9,500,000 G
*Potter Vault (No. 7) | Liquid | Operating gold and equity: 1,500,000 G
*Magical Investments | Liquid | Equivalent to 1,200,000 G in diversified shares.
*Peverell Real Estate | Movable Property | An ancestral castle/fort in the Welsh hills (Peverell Manor) with wards
*Potter Real Estate | Movable Property | The ancestral Potter Manor (The Loyalty Estate); Godric's Hollow House (Land and ruins); Three shops in Diagon Alley and a warehouse in Hogsmeade.
"You are, financially, one of the largest fortunes, Lord Potter-Peverell."
Harry asked for the trust's statement of account.
"Trust Vault 687 was set up by your parents with an initial deposit of 20,000 G. The will stipulated that it should be replenished with 1,000 G annually from the Main Potter Vault, for a total deposit of 31,000 G."
"And the current balance?" Harry asked.
"The current balance, before your consolidation order, was 61,278 G. The original deposited capital earned a stable compound interest rate from Gringotts, a total return of 39,278 G over eleven years."
Harry reviewed the negative entries. Dumbledore's greed had worked on a fund that had grown.
*Diversion to the Hogwarts Scholarship Fund - 500 G Albus Dumbledore
*Guardianship and Custody Fees - 300 G Albus Dumbledore
—The total diverted was 800 G annually, which was the maximum you were entitled to, my Lord. 8,000 G that should have been available for your expenses. Your balance grew due to the performance of Gringotts, but from what I gather, you did not personally benefit from those funds.
—Ironfang, I appreciate your clan's meticulous management. Were it not for the growth of Gringotts, Dumbledore would have emptied the account. But now I would like to make some changes.
The goblin nodded, acknowledging the compliment. —Your orders, Lord Peverell.
—Move the remaining balance from Trust Vault 687 to the Potter House Main Vault (7). Close account 687.
—I approve that 30% of each account be used for the continuation of investments, and I wish for investments to be made in the Muggle world as well.
—I want Gringotts to establish a Scholarship Fund for Wizarding Orphans and First Generation or Underprivileged Wizards, overseen exclusively by goblins, with an initial donation of 1,000 G from the Potter Vault. Notify Hogwarts that you alone will now be in charge of the scholarships and all procedures will go through you.
Ironfang nodded, tapping rapidly on a small bone abacus. —Understood. The fund will be operational immediately. The annual administrative expense for monitoring and selecting candidates will not exceed 10% of the initial capital.
Harry looked Ironfang in the eye. —Let's talk about Clan Shrapnel. You have done an excellent job safeguarding and growing these fortunes. However, House Peverell is now active. The 15% return on an inactive account is a fair rate for the risks they take, but the situation has changed.
"The standard rate is 15%, Lord Peverell," Ironfang repeated.
"And my business proposal is better than the standard one. I offer you: 10% of the annual return for Peverell and 8% for Potter. The difference in your percentages is offset by the enormous capital injection I plan to move through Clan Shrapnel. I guarantee you a significant increase in investment volume if you assure me of the best rate and a quarterly performance report."
Ironfang considered the audacity of the proposal. The young Lord was no child, but a skilled negotiator.
"The 10% and 8% will be approved. Shrapnel eagerly anticipates the new business volume."
Harry nodded, his face expressionless. Harry regained his composure and moved on to the political matter.
"Ironfang, now that I have formally claimed the titles of Lord Potter and Lord Peverell, I must appoint Regents."
"Lord Peverell, it is crucial that you understand the magnitude of your votes." The Wizengamot has a total of 300 seats. The First Wizarding Conclave, through its twelve houses, holds 156 votes—more than half. Each founding house is allocated 13 votes.
"And the status of the suspended votes?"
"Four founding houses are not exercising their votes, leaving 52 suspended votes. Among them are Emrys and Throckmorton (extinct/inactive) and Pendragon. When you claimed Peverell, you awakened 13 of those 52 votes. Your two houses give you 26 votes in total."
Harry frowned. "Why isn't House Pendragon, being a founding house, participating?"
Ironfang lowered his voice slightly, for the first time showing a hint of mystery.
"House Pendragon is active, Lord Peverell, but it withdrew its votes and its support for the Conclave." This happened when some power-hungry magical families in Great Britain began making pacts with demons instead of following the traditions of the Old Way.
"Demons?" asked Harry, the word sounding foreign to the magical world he knew.
"The Wizarding World isn't alone. There's the Supernatural World, which includes various pantheons: Norse, Greek, Hindu, Japanese, Celtic, Egyptian, and a few others, but the most problematic is the Abrahamic pantheon, of which three major factions are known: Angels, Demons, and Fallen Angels. The Pendragon bloodline is one of the few bridges between that world and magic. The Pendragons left to protect themselves from the corruption those pacts brought to the Wizengamot."
Ironfang continued, leaning forward.
"It's very likely that your ancestors, the Peverells, and perhaps the Potters, had pacts with the Celtic Gods." This kind of knowledge isn't available at Hogwarts or the Ministry, but I'm sure you'll find much more information in the ancient libraries of Houses Peverell and Potter.
Harry absorbed the information. The world was immensely more complex and dangerous.
"Understood. It's vital that my 26 votes don't fall into the wrong hands. I need to appoint my Regents."
"For House Potter (13 votes), we recommend Chief of Magical Law Enforcement, Amelia Susan Bones. For House Peverell (13 votes), we recommend Andromeda Tonks."
"I'd like to have a meeting with each of them."
"It will be done, Lord Peverell. We'll arrange an immediate meeting with each of them to present the Regency proposal, the scope of their votes, and the level of political risk."
"Thank you."
Ironfang smiled and handed him a black vellum parchment, sealed with silver.
" "Lord Peverell, Clan Shrapnel would like to welcome you to the world of active accounts and trading. In one week, a high-stakes private auction will be held in Gringotts' business district. Here is your complimentary invitation."
Harry took the invitation.
"Now, about House Black," Ironfang continued. "House Black's assets are not managed by Clan Shrapnel. You need to meet with the House Black account manager. Please follow me."
Ironfang led Harry to the office of Rockaxe, the Clan Black Account Manager and a member of Clan Bloodseal.
Taking his leave of Ironfang, Harry inquired about his rights as an heir.
Rockaxe pushed forward a scroll.
"Summary of your rights to House Black."
HOUSE BLACK EXCERPT
Lord: Sirius Black
Legal Status: Imprisoned without trial The Main Vault is inactive.
Harry's Right: Wizarding Adopted Heir, with the right to claim the Regency.
Trust Vault (703): Immediate access, as Wizarded Adopted Heir, for operating expenses and maintenance. Total: 300,000 G.
Main Vault (5): Inactive, managed by Clan Bloodseal.
Wizengamot Vote: House Black holds 13 votes as a Founding House. These votes are held in the Legal Custody of the Wizengamot. They are currently exercised by a temporary Regent appointed by the Ministry (Dumbledore).
"I want the Regency. How does one challenge the Regent of the Ministry?" Harry asked.
Rockaxe nodded, his voice gruff. "As the Heir by magical adoption, you have the legal grounds to challenge the Regency. You must file a formal petition with the Wizengamot Court. Your legal argument rests on the illegality of Sirius Black's imprisonment without trial, which invalidates the appointment of an outside Regent. The outcome will be decided by a vote of the active members of the Wizengamot."
Harry absorbed the information. It was a political battle he would have to fight in the future.
"Rockaxe," Harry said. "I've spent enough time in the offices. I want to see my wealth. The Peverell Vault (2), the Potter Vault (7), and the Black Trust Vault (703)."
Harry took the parchment. The 13 Black votes were the next piece Dumbledore was using against him.