The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-07-30
MONSTER CATTLE POOL
COMBINATION OF TEXAS RANCHES
WITH $25,OOO,OO CAPITAL.
Round-Up of 100000 Head and OPP
lions on 25,OOO,OOO Acres of Cray
ing Land for the Big Trust.

NEW YORK, July 2s.-The roundup of
100000 head Of cattle on ranches In the Pan
handle district OF Western Texas and I'm
Ea stern New Mexico is contemplated by
the promoters of the proposed 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
rangemen. With view to remedying this,
the Texas cattlemen have pooled their in
terests. II is proposed that New York cap
ital to the amount of 600 shall be in
vested in the new company. To that end
options have been given to George b. Low
ing, who represents the cattlemen or Texas
and New Mexico, and who is at present in
this city at the Waldorf-Astoria. He Is the
editor and publisher of the Texas Live
Stock and Farm Journal. He conducts a
live stock commission business in San An
tonic, Fort Worth and Dallas. and for
many years he has been identified with
cattle interests in the Southwest.
Mr.. Loving showed options covering 25,-
10000 acres of ranch land in Texas and
New Mexico. OF this vast district four
million acres are held In fee simple, four
million are leased to the ranchmen, and
the remainder is government land held by
head of cattle Craze upon this land. The
district covered by the contemplated COM
rany 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 proposed
company becomes fact, Mr.. Loving said:
II believe that expenses can be largely re-
Nv mol nrnh Ina ic
posed. 1t has been the rule in Texas and
New Mexico that cattle at two years old
have been taken over by rangemen from
Montana and Dakota, driven off 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 is proposed the ranchmen will
be enabled to keep the young cattle on the
ranches. to mature then there, and instead
of selling them as two-year-olds at $50
head, to hold them until fit to be disposed
of on the Chicago market at $50 or 500 a
head. Property can certainly be handled
to better advantage and at less expense by
a company Of the magnitude proposed than
by several hundred competing ranch own
ers."
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 Sen
ator Farwell, of Chicago. This syndicate
controls 100000 acres of patented land in
the Panhandle region. Over this vast dis
trict 10000 head of cattle feed. About thir-
ty of the largest ranches in western Texas
and eastern New Mexico are included in the
negotiations All of the leading members of
the Texas cattle raisers' association, which
have headquarters at Fort Worth, have sig
nified approval of Mr.. Loving's plan and
have given him options on their ranches
and cattle.
II believe" said Mr. Loving, that $25,-
100000 will be ample for the enterprise. and
side of a year will be such that an addi-
tional investment in ranch property and cat
tie to the extent of $4,000 900 SIS, 000, 00o
will be made by business men in the
North"
Mr. Loving was asked if the Texas anti
trust 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 because large
does not limit the amount of capital stock
which corporations may have. If your COM
pany is chartered with large capital stock
In tire beginning the presumption would not
law seeks to prohibit is the amagamation
or combination of several corporations into
one for the purpose of influencing prices
In your general plan and outline / think
your business legitimate"
Not only New York. but Chicago capital
lists, also, are said TO be considering the pro-
posed consolidation. Swift & Co., Chicago
packers, recently invested $500 900 In Texas
cattle and. IL is said, are about to invest
100000 more.