The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-07-29
TEXAS CATTLE COMBINE.
Nc. Loving Is In New York to Interest Capt
tai in Il.
WHAT IT is HOPED TO ACCOMPLISH.
Million Acres In tho Panhandle
aud New Mexico.

New York, July 2s.--The Herald says.
The roundup of 100000 head OF cattle in
the district OF Western Texas and Eastern
New Mexico is contemplated by the pro-
motcrs OF the proposed consolidated cattle
company.
A large proportion OF the profits which
should be derived from the sale of the
Texas and New Mexico cattle in the beef
market Is diverted to the Northern range
men. With view to romedyng this the
Texas cattlemen have pooled their inter-
ests.
1t is proposed that New York capital to
the amount of s25, 00o, 900 shall be invested
IN the new company, To that end options
have been given to George u. Loving who
represents the cattlemen OF Texas and New
Mexico and who la at present In this city.
Mr., Loving was seen at the Waldorf
Astoria lie is the editor and publisher
OF the Texas Live Stock and Farm journal.
He conducts a live stock commission busi-
ness In San Antonio, Fort Worth anu
Dallas. and for many years he has been
identified with cattle interests In the
Southwest,
Mr., Loving showed options covering 20
600. 600 acres OF ranch land In Texas and
New Mexico, or this vast district 1000, 0p0
acres are held In fee simple, 100000 arc
leased to the ranchmen and the remainder
is government land held by right OF prior
occupancy. More than 100000 head OF
cattle Craze upon this land, The district
covered by the contemplated company en-
braces 800 miles from north to south In
Texas and abou, 200 miles east and west
in that State and In New Mexico,
Asked Ms TO the advantages which the
ranchmen except to dprlye II the pro-
posed company becomes a fact. MIR. Low
ing said II believe that expenses can be
largely reduced by such combination rs
proposed II has been the rule In Texas
and New Mexico that cattle at 2 years old
have been taken over by rangemen from
Montana and Dakota. driven of to the
ranges. there matured and sold as beef on
the Chicago market with large profits to
the rangemen. We believe that with such
company as is proposed the ranchmen
viii he enabled to keep the young cattle
on the ranches to mature there and instead
of selling them as 2-year-olds at $40
head, they Will hold them until fit to be
disposed OF on the Chicago market at $50
or 500 per head. They can certainly be-
handled TO better advantage and at less
expense by q company OF magnitude pro-
posed than By several hundred competing
ranch owners"
Mr.. Loving showed options entrusted TO
him by such ranch owners as the capital
syndicate OF Chicago and Texas, at tho
head OF which Is former United States
Senator Farwell of Chicago This syndi-
cate owns 3.b0o.000 acres OF patented land
IN the Panhandle region. Over this vast
district 100000 head Of cattle feed. Ahont
thirty OF the larger ranches of Texas and
New Mexico are included In the negotia-
tions. All of the leading members OF the
Cattle Raisers' association with head
quarters In Fort Worth have signined APP
proval of Mr.. Lovlngs plan and given
him options on their ranches aud cattle.
II believe" said he, that 2b.00oooo
acres viii be ample for the enterprise,
and / am convinced that the results
achieved inside OF a year Will be such that
an additional Investment In ranch prop
erty and cattle to the extent of $la,O0o.0OO |
or S25 900, 900 viii be made by these men"
Mr.. Loving was asked II the Texas anti I
trust law would interfere with the pro- /
posed company. In answer he showed
letter from Attorney General Smith OF 4
Texas, which said. Tho law does not 4
presume that because large capital Is in
vested IT Is n trust, Our law does not /
limit the amount of capital stock which I
corporations may have. II your company /
s chartered with a large capital stock In |
he beginning, the presumption would not
De against you at all. That which the law
seeks to prohibit is amalgomation or
OF corporations into one for
he purpose OF influencing prices. In your
general plan and outline | think your
business legitimate"
Not only New York but Chicago capt 1
alists are said to be considering the pro-
POSED consolidation. Swift a. Co.. a Chi
iago packer. recently invested 100000 In
Texas cattle. and II Is said are about TO
invest $l,00O,0O0 more.
Austin. Texas, July 2S.--As an evidences
hat the Eastern syndicate is still at work
L.. - 1