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N0KFQ > TODAY 02.11.16 14:19l 39 Lines 1642 Bytes #999 (0) @ WW
BID : 12081_N0KFQ
Read: GUEST
Subj: Today in History - Nov 2
Path: IW8PGT<IZ3LSV<IW0QNL<IK6ZDE<F1OYP<LU4ECL<CX2SA<N0KFQ
Sent: 161102/1211Z 12081@N0KFQ.#SWMO.MO.USA.NA BPQ6.0.13
1912
XIT Ranch sells its last head of cattle
On this day, the XIT Ranch of Texas, once among the largest
ranches in the world, sells its last head of cattle.
Despite the popular image of the cattle rancher as an independent
and self-reliant pioneer, big-city capitalists and stockholders
owned many of the most important 19th century ranches. The
Chicago capitalists behind the XIT_also known as the Capitol
Syndicate Ranch_were trying to get rich by catering to the
growing American passion for fresh western beef. They received
the land in exchange for financing a state capitol building in
Texas.
Given the aridity of the region, the Chicago capitalists
determined that ranching would be the only profitable use for
their new land. They quickly built up a massive but highly
efficient cattle-raising operation that stretched over parts of
nine Texas counties. At its peak, the XIT had more than 160,000
head of cattle, employed 150 cowboys, and encompassed nearly 3
million acres of the Texas panhandle_an unusually large tract of
land even by western standards.
As land prices increased in Texas and cattle prices fell, the
owners of the XIT realized they could make more money by selling
their land. By 1912, the XIT abandoned ranching altogether with
the sale of its last herd of cattle. The corporate managers
gradually sold the remainder of their property to farmers and
smaller ranchers throughout the first half of the 20th century.
By 1950, the once-mighty XIT had control of only 20,000 acres.
73 - K.O., n0kfq
N0KFQ @ N0KFQ.#SWMO.MO.USA.NA
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