ROOSEVELT'S DAKOTA INVESTMENT. |
Mr. Roosevelt's accounts were kept by Mr. Frank C. Smith, confidential clerk in the office of his brother-in-law, Douglas Robinson. The ledgers reveal the following facts concerning his Dakota investments: | Expended from September, 1884, to July, 1885 | $82,500.00 | | Returns from cattle sales, from September, 1885, to December, 1891 | 42,443.32 | | Estimated value of cattle on the range, December, 1891 | 16,500.00 | | Loss, not considering the interest on the investment | 23,556.68 | On March 28, 1892, Roosevelt formed the Elkhorn Stock Company, incorporated under the laws of the State of New York, with Archibald D. Russell, R. H. M. Ferguson, and Douglas Robinson, and on December 5, 1892, transferred his cattle holdings to this Company at a valuation of $16,500. Subsequently he invested a further sum of $10,200. | Investment, Elkhorn Stock Company | $26,700.00 | | Returns in capital and dividends from January, 1893, to February, 1899 | 29,964.05 | | Profit, not considering interest | 3,264.05 | | Loss on two ventures | 20,292.63 | The computation of Roosevelt's loss in interest on his investment of $82,500.00 figured at 5 per cent from September 1884, to February, 1899, the author gladly leaves to any class in arithmetic which may care to grapple with it. It approximates $50,000.[Back to Contents]
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