Under the family army's standard organization, ten men made a squad, fifty made a company, and five hundred made a battalion. A cavalry division had ten battalions, for a total of five thousand men; an infantry division had twenty battalions, totaling ten thousand men.
The Xiu Battalion had a little over eight thousand cavalrymen, barely enough to form two cavalry divisions. But Roger, Shirakawa, and the others clamored that, as Banner Captains, they should at least hold the rank of division commander. Left with no choice, Zichuan Xiu organized the Xiu Battalion into three divisions: the First Division had three thousand men, with Roger as commander; the Second Division also had three thousand men, with Changchuan as commander; and the last was Zichuan Xiu's direct division, with Shirakawa as division commander. Everyone was delighted, but Zichuan Xiu suddenly realized that he still had only three subordinates. Basically, nothing had changed.
At the Xiu Battalion's first military conference, Zichuan Xiu stunned everyone with his words.
Shirakawa's mouth hung open. "My lord, what did you just say? That... that... thing."
Zichuan Xiu answered understandingly, "Oh, I said we're going to establish the Xiu Battalion Joint-Stock Company."
Roger said, "My lord, what does... that thing, that thing... 'Butt Limited Company' mean?"
Changchuan said, "'Butt Limited Company'? Roger, you idiot! My lord clearly said 'Butt Limited Rooster'! But my lord, I still don't understand. Why do we need a rooster with a limited butt?"
"A joint-stock company is a form of capital organization in modern enterprise. It divides company assets into equal shares. The company bears limited liability for its debts to the extent of its assets, shareholders bear limited liability for company debts to the extent of their shares, and after statutory reserve funds and public welfare funds are deducted, profits are distributed