Descriptive Summary
H. P. Drought and Company
H. P. Drought and Company Records
1883-1966
Materials are in English.
MS 69
24 linear feet (about 18,000 items)
University of Texas at San Antonio Libraries Special Collections
Henry Patrick Drought was born in 1858 in County Clare, Ireland. He eventually settled in San Antonio, Texas to take the Bar examination and establish a law practice. Drought became the attorney for Francis Smith, Caldwell and Company, the San Antonio branch of an investment firm that acted as a financial liaison between Texas farmers and ranchers seeking money to expand their land and agriculture operations, and British and Scottish financiers who had money to lend and were looking for greater returns on their investments than European markets could. Drought purchased the company with Francis Smith, and after Smith's retirement, the company came to be known as H. P. Drought and Company. Under his guidance, the company became one of the most successful investment firms in San Antonio. Prior to his death, Drought's son, Henry Patrick Drought, Jr., became a partner.
The collection consists of mortgage investment records made between the company and local and international investors from 1884 to 1969. These records include financial ledgers, correspondence, abstracts of title, and contracts documenting mortgage and loan transactions. Of note are descriptions of property and the names of investors, landowners, and businesses in San Antonio, Texas.
Historical Note
Henry Patrick Drought was born in 1858 in County Clare, Ireland. When he was seven years old, his family relocated to London, Canada. He graduated from Toronto University. His first experience in Texas was as a member of a land surveying party which he partook in shortly after graduation. He eventually settled in San Antonio, Texas to take the Bar examination and establish a law practice.
Drought became the attorney for Francis Smith, Caldwell and Company, the San Antonio branch of an investment firm that was run by Francis Smith, Drought's eventual partner. The company acted as a financial liaison between Texas farmers and ranchers seeking money to expand their land and agriculture operations, and British and Scottish financiers who had money to lend and were looking for greater returns on their investments than European markets could.
Though it was originally founded under the name Francis Smith, Caldwell and Company, Francis Smith would ultimately buy out his original partner and rename the company Francis Smith and Co. with H. P. Drought as a co-partner. In 1900, Francis Smith retired and H.P Drought became sole owner of the company, which he renamed H. P. Drought and Company. Under his guidance, the company became one of the most successful investment firms in San Antonio. Prior to his death, Drought's son, Henry Patrick Drought, Jr. became a partner. He became the managing partner upon his father's death in 1917.
Scope and Content Note
The H. P. Drought and Company Records consists of mortgage investment records made between the company and local and international investors from 1884 to 1969. This records include financial ledgers, correspondence, abstracts of title, and contracts documenting mortgage and loan transactions. Of note are descriptions of property and the names of investors, landowners, and businesses in San Antonio, Texas. The collection is arranged into three series: Letterpress Books, Loan Registers, and Financial Ledgers.
The Letterpress Books date from 1884 to 1930 and contain copies of outgoing letters bound in books. The volumes are divided into General Letters, Investor Letters and Opinions. Volumes in General Letters are arranged chronologically and volumes of Investor Letters are arranged alphabetically by first word of company. The Opinion Letters include title and legal opinions. The General and Investor letters cover topics about loans, land sales, descriptions of land, economic conditions, character references, and statements or reports of the financial status of particular companies.
The Loan Register volumes date from1883 to 1966 and consist of volumes recording individual loans made first by Francis Smith, Caldwell & Company and later by the H.P Drought Company, to assignees on behalf of several investors. Most of the investors are British, but there some American companies as well. The volumes are arranged in chronological order. Since both the former company – Smith and the latter company – Drought, had business with various investors, the Registers are usually grouped according to investor. When possible, the name of the company associated with a particular volume is listed. Within each volume, the loans are listed by date of note. In most volumes, there is an alphabetical index, in the beginning, linking assignee names with loan numbers. The information on each loan register includes name and address of the borrower, the name of the lender/investor, the date, amount and interest of the loan, and a record of payments. Occasionally correspondence is inserted into the pages.
The Financial Ledger series contains ledgers, a collection register and a note register. There are seven numbered company ledgers dating from 1897 to 1941 (#1 is missing), one volume dated 1904-1905, and two volumes dating 1943-1962. These volumes list various account balances, salaries and commissions. The Collection Register, 1924-1959, lists dates of when principal and interest payments were received on various loans. The Note Register, 1919-1956, lists dates when principal and interest payments were due and to whom the notes were sent.
Access Restrictions
This collection is housed at UTSA's Main Campus and must be accessed via the John Peace Library Special Collections reading room. To request access, please use the Collections Request Form.
Use Restrictions
Permission to publish materials from the Drought Company Papers must be obtained from University of Texas at San Antonio Libraries Special Collections.
Preferred Citation
[Identification of item], H. P. Drought and Company Records, 1883-1966, MS 69, University of Texas at San Antonio Libraries Special Collections.
Acquisition Information
Received as a gift from Thomas Drought in December 1988 (Acc. 1988-002).
Processing Information
Processed by Jose Javier Franco Garza, Library Assistant II, 2004, and Gerrianne Schaad, Head of University of Texas at San Antonio Libraries Special Collections, 2005.
Index Terms
Personal Names
Drought, Henry P.
Organizations
H.P. Drought and Company--Archives.
Alliance Trust Co. Ltd.
American Freehold Land Mortgage Co.
Francis Smith, Caldwell and Company--Archives.U.S. Mortgage Co. of Scotland.
Subjects
Business records--Texas--San Antonio.
Loans--Texas.
Mortgages--Texas.
Real estate listings--Texas--San Antonio.Real property--Texas--San Antonio.
Locations
Texas--History--Sources.
Genres/Formats
Financial records.
Correspondence.
Legal documents.
Detailed Description of the Collection
Letterpress BooksLetterpress books in this series date from 1884 to 1930 and contain copies of outgoing letters bound in books. The volumes are divided into General Letters, Investor Letters and Opinions. Volumes in General Letters are arranged chronologically and volumes of Investor Letters are arranged alphabetically by first word of company. The Opinion Letters include title and legal opinions. The General and Investor letters cover topics about loans, land sales, descriptions of land, economic conditions, character references, and statements or reports of the financial status of particular companies.
1General Letters1Un-numbered Volume1June 20, 1900 – December 22, 19082Numbered Volumes22201 January 5, 1925 – March 27, 192522202 March 28, 1925 – June 20, 192531203 June 2, 1925 – October 26, 192532204 October 26, 1925 – January 2, 192641205 January 2, 1926 – March 30, 192642206 March 30, 1926 – August 25, 192651207 August 25, 1926 – November 29, 192652208 November 29, 1926 – February 14, 192761209 February 15, 1927 – June 6, 192762210 June 7, 1927 – September 29, 192771211 September 29, 1927 – December 30, 192772212 December 30, 1927 – May 192881213 May 1, 1928 – September 22, 192882214 September 24, 1928 – December 31, 192891215 December 31, 1928 – May 14, 192992216 May 14, 1929 – November 19, 1929101217 November 19, 1929 – May 28, 1930102218 May 29, 1930 – June 30, 193011Correspondence by Company11Alliance Trust Company, Ltd.111December 5, 1889 – January 8, 1893112January 25, 1893 – March 6, 1896121March 9, 1896 – January 31, 1899122February 1899 – November 1901131November 1901 – March 16, 1905132August 1905 – September 1908141April 17, 1908 – September 30, 1911142October 4, 1911 – December 26, 1914151January 4, 1915 – December 26, 1918152December 27, 1918 – June 2, 1921161June 4, 1921 – September 30, 1922162October 6, 1922 – October 3, 1923171October 3, 1923 – January 30, 1926172January 30, 1926 – November 1, 1928181November 1, 1928 – June 30, 193019Second Alliance Trust Co. Ltd.19May 2, 1925 – June 25, 193020American Freehold Land Mortgage Co.201September 19, 1988 – May 25, 1895202May 28, 1895 – April 7, 1899211April 10, 1899 – July 31, 1905212August 3, 1905 – December 29, 192022Canadian American Mortgage and Trust Co. Ltd.221January 1900 – December 20, 1904222January 3, 1905 – April 22, 1908231April 23, 1908 – December 28, 1912232December 1912 – February 1917241February 12, 1917 – February 17, 1923242February 1923 – June 11, 193025Henry A. Jones251August 1, 1923 – June 10, 1929252June 11, 1929 – June 25, 193026Investor's Mortgage Security Co. Ltd.261February 6, 1892 – May 1901262June 1901 – May 1912271June 8, 1912 – September 30, 1921272September 30, 1921 –
October 31, 192628October 28, 1926 – June 30, 193029Kansas City Life Insurance Co.291December 27, 1915 – March 16, 1924292March 3, 1924 – January 25, 192930Northern Counties Investment Trust301October 21, 1890 – September 28, 1898302December 1898 – January 192431Scottish American Mortgage Co.31November 1888 – June 4, 189032Thomas Nelson Trust32Statements and Letters, June 1892 – November 18, 190133U.S. Mortgage Co. of Scotland331February 12, 1884 – February 24, 1890 332February 25, 1890 – December 16, 1892341December 16, 1892 – May 1895342May 1895 – August 1897 351September 1, 1897 – November 25, 1899352December 1899 – June 1903361May 31, 1903 – September 30, 1907362September 1907 – June 2, 191337May 31, 1913 – September 28, 1927381March 15, 1922 – September 28, 1927382October 3, 1927 – January 23, 193039Western Hawaiian Investment Co. Ltd.39January 19, 1919 – April 30, 192540Miscellaneous Corporations401February 4, 1889 – June 2, 1891402June 30, 1891 – October 29, 1895411October 1895 – August 31, 1900412August 24, 1900 – June 30, 1912421June 1, 1912 – March 29, 192043Miscellaneous Investors43November 20, 1901 – March 30, 193044Opinions44Title Opinions441December 20, 1888 – March 28, 1902442William H. King, June 12, 1902 – August 19, 190945Legal Opinions451November 22, 1888 – July 26, 1890, Book 1452June 26, 1890 – December 19, 1898461September 1909 – October 14, 1915, Book 2462November 9, 1915 – March 9, 1926, Book 3Loan RegistersThese volumes date from1883 to 1966 and consist of volumes recording individual loans made first by Francis Smith, Caldwell & Company and later by the H.P Drought Company, to assignees on behalf of several investors. Most of the investors are British, but there some American companies as well. The volumes are arranged in chronological order. Since both the former company – Smith and the latter company – Drought, had business with various investors, the Registers are usually grouped according to investor. When possible, the name of the company associated with a particular volume is listed. Within each volume, the loans are listed by date of note. In most volumes, there is an alphabetical index, in the beginning, linking assignee names with loan numbers. The information on each loan register includes name and address of the borrower, the name of the lender/investor, the date, amount and interest of the loan, and a record of payments. Occasionally correspondence is inserted into the pages.
47Francis Smith, Caldwell & Co.; Dundee Investment Co. Ltd.; Dundee Mortgage and Trust Investment Co. Ltd., 1883 – 188848Francis Smith and Co.; H. P. Drought; U.S. Mortgage Co. of Scotland, 1885-189149Francis Smith and Co., 1886-189150Francis Smith and Co.; Canadian American Mortgage and Trust Co. Ltd.; United Trust; Western Hawaiian Investment Co. Ltd.; Edinburgh American Land Mortgage Co., 1887-189351Francis Smith and Co.; Edinburgh American Land Mortgage Co., 1887-190652Netherlands American Land Co.; American Freehold Land Mortgage Co., 1888-189953Francis Smith and Co.; American Freehold Land Mortgage Co., 1888-190354Francis Smith and Co.; Land Mortgage Investment and Agency Co. of America; American Freehold Land Mortgage Co., 1888-190755Francis Smith and Co.; Alliance Trust Ltd.; Caldwell Co., 1889-189656Francis Smith and Co.; Home and Foreign Investment and Agency Co. Ltd., 1889-190557Francis Smith and Co.; American General Mortgage; U.S. and South American Investment Trust and Co. Ltd., 1890-189958Francis Smith and Co.; H. P. Drought; Municipal Trust Co.; New Municipal Trust Co.,
1890-190059H. P. Drought; U.S. Mortgage Co. of Scotland, 1890-190060Francis Smith and Co.; H. P. Drought; Western Hawaiian Investment Co. Ltd;
Canadian American Mortgage and Trust Co. Ltd.; United Trust; Greshem Life Assurance Society, 1890-191261H. P. Drought; Northern Counties Investment Trust Ltd., 1890-191762Francis Smith and Co.; H. P. Drought; Yorkshire Guarantee and Securities Corporation, 1890-192963Francis Smith and Co., 1891-191764H. P. Drought; U.S. Mortgage Co. of Scotland; Chattel Mortgage Co., 1892-189465Francis Smith and Co.; H. P. Drought; Investor's Mortgage Security Co. Ltd., 1892-190366H. P. Drought; Canadian American Mortgage and Trust Co. Ltd., 1896-191067H. P. Drought; Alliance Trust Ltd., 1897-190268H. P. Drought; U.S. Mortgage Co. of Scotland, 1900-190569Alliance Trust Ltd., 1903-190670H. P. Drought; Investor's Mortgage Security Co. Ltd. #2, 1903-191071H. P. Drought; Canadian American Mortgage and Trust Co. Ltd., 1903-191372American Freehold Land Mortgage Co., 1903-191673H. P. Drought; U.S. Mortgage of Scotland Ltd., #5, 1904-190974Alliance Trust Co. Ltd., 1906-191175H. P. Drought; U.S. Mortgage Co. of Scotland, 1909-191876H. P. Drought; Investor's Mortgage Security Co. Ltd., 1910-191777H. P. Drought; Western Hawaiian Investment Co. Ltd., 1910-193578H. P. Drought; Alliance Trust Co. Ltd. #5, 1911-191679H. P. Drought; Northern Counties Investment Trust Ltd., 1912-195380Canadian American Mortgage and Land Co., 1913-191781U.S. Mortgage Co. of Scotland, 1913-192482H. P. Drought; Western Hawaiian Investment Co. Ltd., 1913-194883H. P. Drought; Alliance Trust Co. Ltd.; Farmer's Loan and Trust Co.; NY; Investor's Mortgage Security Co. Ltd., 1914-193184H. P. Drought; Alliance Trust Co. Ltd., 1914-193985H. P. Drought; Alliance Trust Co. Ltd., 1916-192686H. P. Drought, 1921-192787H. P. Drought, 1927-1966Financial LedgersThis series contains ledgers, a collection register and a note register. There are seven numbered company ledgers dating from 1897 to 1941 (#1 is missing), one volume dated 1904-1905, and two volumes dating 1943-1962. These volumes list various account balances, salaries and commissions. The Collection Register, 1924-1959, lists dates of when principal and interest payments were received on various loans. The Note Register, 1919-1956, lists dates when principal and interest payments were due and to whom the notes were sent.
88Dated881897 – 1902 #2891903 – 1907 #3901904 – 1905911908 – 1912 #4921913 – 1917 #5931918 – 1924 #6941925 – 1932 #7951933 – 1941 #8961October 1943 – May 1953962May 1953 – January 196297Collection Register971924 – 1959 98Note Register981919 – 1956