The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1899-07-29
BIG ROUND UP.
Texas Cattle Combine to Cover Co.,
600 Head of Animals.

Texas Cattle Combine to Cover Co.,
600 Head of Animals.
New York, July 2s-The Herald says:
The roundup Of six hundred thousand
head of cattle on the ranches in the
Panhandle district of western Texas
and in eastern New Mexico is con-
templated by the promoters Of the pro-
posed Consolidated Cattle company.
A large proportion of the profits
which should be derived from the sale
of Texas and New Mexico cattle in the
beef market is diverted to the northern
range men. With a view to remedying
this the Texas cattlemen have pooled
1t is proposed that New York capital
to the amount of SIS, 1000, 900 shall be in
vested in the new company. To that
end options have been given to George
men OF Texas and New Mexico and who
is at present in this city.
Mr.. Loving was seen at the Waldorf
Astoria He is the editor and publisher
of the Texas Livestock and Farm Jour
nal, he conducts a livestock commission
business In San Antonio, Fort Worth
and Dallas and for many years he has
been identified with cattle interests in
the southwest.
Mr. Loving showed options covering
25 million acres Of ranch land in Texas
and New Mexico OF this vast district
four million acres are held in fee simple,
four millions are leased to the ranch
men and the remainder is government
land held by right Of prior occupancy.
More than six hundred thousand head
of cattle Craze upon this land. The
district covered by the contemplated
company embraces 800 miles from north
to south in Texas and about 200 miles
east and west in that state and New
Mexico.
Asked as to the advantages which the
ranchmen expect to derive if the pro-
posed company becomes a fact, Mr..
Loving said:
Il believe that expenses can be large
ly reduced by such a combination as is
proposed 1t has been the rule in Texas
and New Mexico that cattle at two
years old have been taken over by
range men from Montana and Dakota
driven off to the ranges, there matured
and sold as beef on the Chicago market,
with large profits to the range men.
We believe that with such a company
as is proposed the Fanohmen will be
enabled to keep the young cattle on
the ranches, to mature them there and
instead of selling them as two year Olds,
at say $50 a head, to hold them until
fit to be disposed of on the Chicago
market at $50 or $50 a head. Property
can certainly be handled to better ad-
vantage and at less expense by a COM
pany of the magnitude proposed than
by several hundred competing ranch
owners
Mr.. Loving showed options intrusted
to him by such ranch owners as the
Capitol syndicate OF Chicago and Texas
at the head of which is former United
States Senator FarWen of Chicago.
This syndicate controls 100000 acres of
patented land in the Panhandle region.
over this vast district 100000 head of
cattle feed.
About thirty of the largest ranches in
western Texas and eastern New Mexi-
co are included in the negotiations
All Of the leading members of the
Texas Cattle Raisers' associa ton which
has headquarters in Fort Worth, have
signified approval of Mr. Loving's plan
and have given him options on their
ranches and cattle.
7 believe" said Mr.. Loving, that
S25,OOO,0O0 will be ample for the enter
prise and ! am convinced that the re-
suits achieved inside of 4 year will
be such that an additional investment
in ranch property and cattle to the ex-
tent of $4,000. 600 or $25. 600 600 will be
made by business men in the NORTH
Mr., Loving was asked if the Texas
antitrust law would interfere with the
proposed consolidated cattle company
In answer he showed a letter from
Thomas S. Smith, attorney general of
Texas, who said;
THE law does not presume that be-
cause large capital is invested it is a
trust Our law does not limit the
amount OF capital stock which cor
pOrauOnS may have. If your company
IS chartered with large capital stock
IN the beginning the presumption would
not be against you at all. The idea
which the law seeks to prohibit is the
amalgamatiOn or combination of sew
eral corporations into one for the pur-
pose Of influencing prices. In your
general plan and outline I think your
business legitimate
Not only New York but Chicago sap
italists also are said to be considering
the proposed consolidation. Swift & Co,
packers, recently invested $780,
600 in Texas cattle and, it is said are
about to invest 81 600 900 more