From the Annals of the Big Ranches – In 1879, the New York and Texas Land Company was formed. New Yorkers, John S. Kennedy, Samuel Thorne, and William Walter Phelps purchased all of the land owned by the consolidated International-Great Northern Railroad Company to form the NYTLC. The company ultimately owned over 5.5 million acres – one of the largest privately financed land companies to operate in post-Civil War Texas. The holdings extended into fifty-one counties in the Panhandle. Under the guidance of T. D. Hobart, the NYTLC began an extensive development program of fencing, well drilling, windmill building, and water impoundment. By 1900 most of the Panhandle lands had been developed and sold. Many of the largest ranches in Texas were carved out from the NYTLC holdings. The company was dissolved in 1918.