Holt Live Stock Company records

There are letters for the years 1915 and 1916, vouchers for the years 1907-1919 and proxies of the officers of the company in Portland, Maine, to the annual meeting of the stockholders in Denver, Colorado, 1903-1915. The material gives the history of the beginning and end of the company, but practically nothing of its operations during the intervening years, the running of the ranch or prices of livestock and products. A full account is given of the organization of the company, its first officers and their successors during the 40-year period of the company's existence. The company was organized under the laws of the State of Colorado to carry on the business of rearing, grazing, buying and selling horned cattle, sheep, horses and mules in the State of Colorado and beyond the limits thereof. It was voted at the first meeting that William T. Holt, Harrison J. Libby and Joseph S. Ricker were to be the parties to prepare the organization papers of the company. The first officers were William T. Holt, President, Harrison J. Libby, Treasurer and William E. Gould, Secretary. The capital stock of the company was, at first $180,000, divided into 1800 shares of $100 each. The salary of the president was $2250 per annum. The capital stock was afterwards increased to $200,000 and. the president's salary to $4000 per annum. The term of existence of the company was to be 20 years. The directors met annually in Portland; the stockholders met annually in Denver, Colorado. There is nothing to show the operation of the livestock business, the price of cattle or the cost of running the ranch in Colorado with the exception of one letter, dated May 27, 1907, from the Secretary of the company to the President in Portland, which states the approximate going price of wool; and the records of the Directors' meeting at Portland, Maine, June 27, 1899, which state that the expenses of the ranch in Colorado were so large per head that unless a movement was made to increase the number of cattle and sheep run upon the ranch, the expenses would quickly reduce the holdings of livestock of the company. Mr. Jones explained that if the number of cattle could be increased and named as the number of cattle that he thought would bring about that result as in the neighborhood of 5000 cattle or their equivalent in sheep. There are proposals here to increase the amount of livestock and the sums that should be extended for that purpose. At the time of its organization, the trustees of the company purchased from William T. Holt, of Denver, Colorado, himself a trustee of the company, the tract of land in Denver, Colo., known as Holt Ranch, 11 and all the livestock, equipment and buildings of said ranch for the sum of $130,000. The letters, 1915-1916, give a detailed account of negotiations for the sale and the final sale of the Holt Ranch and the personal estate, to John Jay Drinkard for the sum of $42,000. The records of the Directors' meeting for October 9, 1916, give a detailed account of this sale also, and the division of fund remaining in the hands of the company among the bondholders.