The Southwestern Historical Quarterly, Volume 58, July 1954 - April, 1955

b'ritish JIwestmeNts in ZGeas
aNds aed C iestock
J. FRED RIPPY
T HE 188o's were a period of brisk British investment over-
seas. No other decade except the one following 19o2 wit-
nessed such a large outflow of private capital from the
British Isles. Residents of England and Scotland invested their
money freely in all parts of the world, but especially in the
Orient, Africa, Canada, Latin America, and the United States.
They invested both in foreign government bonds and in business
enterprises of almost every type, but particularly in railways,
mines, urban real estate, municipal utilities, and cattle and sheep
ranches. In the Western Hemisphere, their investment in lands
and livestock during the decade was concentrated mainly in Ar-
gentina, Uruguay, Mexico, Canada, and the western part of the
United States.'
This decade and a few preceding years were marked by rather
unrestrained investment and speculation in the cattle business,
stimulated by new inventions in refrigeration and the establish-
ment of packing houses and canneries in Australia, Argentina,
Uruguay, and the United States. For the first time in history,
fresh meat could be transported without deterioration over long
distances by means of refrigerated steamers and railway cars. The
new packing houses in Chicago and Kansas City gave a mighty
impetus to investment in lands and livestock in the Trans-Missis-
sippi West; and Texas, with its immense unoccupied public do-
'The best source of information for British investments overseas is Stock Ex-
change Year-Book, published in London from the year 1875. Its title was changed
to Stock Exchange Oficial Year-Book in the early 1930's. It not only lists foreign
government bonds in which British investors are interested; it also lists thousands
of corporations operating in the British Isles and all over the world, under certain
classifications, such as railways, mines, public utilities, lands, banks, investment
companies, and the like. Since each volume contains an excellent index of the names
of the corporations described, page references will not be given in this essay. The
following works present the general background and setting: James MacDonald,
Food from the West (London and Edinburgh, 1878); John Clay, My Life on the
Range (Chicago, 1924); and Edward E. Dale, The Range Cattle Industry (Nor-
man, 1930) .

Texas State Historical Association. The Southwestern Historical Quarterly, Volume 58, July 1954 - April, 1955. Austin, Texas. The Portal to Texas History. http://texashistory.unt.edu/ark:/67531/metapth101158/. Accessed September 20, 2014.