A Classification of American Wealth
History and genealogy of the wealthy families of America - Sponsors


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  Part III-Chapter 15 : Wildcatter Oil Barons  > H. L. Hunt  :     Previous    1 - 2 - 3 - 4 - 5 - 6 - 7 - 8 
                                                                                                                                             
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   Haroldson Hunt - cotton land speculator

Page entitled : Haroldson Hunt's first success as a cotton broker and land speculator

Content of this page is about :
Haroldson Hunt's years as cotton broker and land speculator in Louisiana, the cotton boom and bust and move to El Dorado Arkansas


Extract :
...
Cotton land transactions were typically leveraged, as only 24% of the price was paid in cash and the remainder was settled in personal notes. As the land was often sold before the notes came due the system involved an even higher leverage, with new notes and sometimes mortgages replacing the old ones. Strong war time demand allowed the advance sale of future cotton crops and permitted the more audacious operators to raise even more money, they could use to make further cash down-payments. Haroldson Hunt doubtlessly was among the most active cotton land speculators, at least in  ...

 

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