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Stockford Farms, Inc., 1840-1963, bulk 1928-1948

 Sub-Series
Accession: 2317Identifier: 2317-II.-VII.-AA.

Dates

  • Creation: 1840-1963
  • Creation: bulk 1928-1948

Historical Note

Stockford Farms, Inc., was incorporated in Delaware on September 20, 1928, as a subsidiary of the Delaware Land Development Company. The latter had a contract with the Wilmington Trust Company for the purchase of a parcel of land with buildings in New Castle Hundred known as Stockford Farms and assigned all rights, title, and interest in that contract to the new subsidiary.

In 1930, Shapdale, Inc., bought all the capital stock of Stockford Farms, Inc., and financed, together with the Delaware Trust Company, the acquisitions of real estate in Cecil County, Maryland. and then adjacent land in Chester County, Pennsylvania.

In 1936, Stockford Farms, Inc., bought from the Delaware Land Development Company the land adjacent to farms owned by the company in Fair Hill, Maryland. The same year, the company entered into an agreement with the Foxcatcher Hounds Hunt Club, offering the club the exclusive use of hunting country in the upper half of Cecil County and the use of the club house, stables, and kennels at Fair Hill, Maryland. The lease was terminated with the dissolution of the club in March 1941.

In 1938, the Stockford Farms, Inc., divided its holdings around Fair Hill, Maryland, and formed seven subsidiaries: Center Square, Foxcatcher Hounds, Little Elk, New London, Springlawn, and Tri-State corporations. Turkey Town remained a holding company which provided financial and organizational services for the subsidiaries.

In December 1939, Shapdale, Inc., transferred to Stockford Farms, Inc., three parcels of land in Newtown Township, Delaware County, Pennsylvania. In April 1940, Foxcatcher Hounds, Inc., changed its name to Fair Hill, Inc. In December 1940, du Pont purchased from the company a tract of land near Newtown Square, Pennsylvania, known as the Randall Dutton tract, and in 1942, he bought three additional tracts known as the Bond, Wharton, and Dixon parcels.

In 1944, the Center Square, Inc., subsidiary decided to go into the mass production of beef cattle. The project was financed by Shapdale, Inc. For this project, the company used lands of Tri-State, Springlawn, Turkey Hill, and Fair Hill companies; several parcels of land belonging to the subsidiaries of the Stockford Farms, Inc., were sold during 1944-1945 to help finance the project. As a result of these operations, Tri-State, Inc., and Springlawn, Inc., were dissolved and liquidated in December 1945, with the remaining subsidiaries dissolved and liquidated during 1946. Stockford Farms sold its property to newly organized subsidiaries of Shapdale, Inc.: Fair Hill, Inc. (Maryland) and Springlawn Corporation (Pennsylvania), retaining the purchase money mortgages. The company existed primarily to collect on such mortgages and certain other indebtedness owed to it.

On July 12, 1962, the board of directors approved the plan of reorganization and recapitalization for Shapdale, Inc., Stockford Farms, Inc., Fair Hill, Inc., and Foxcatcher Livestock Company. The plan was intended to simplify the corporate structures, eliminate certain inter-corporate indebtedness, to capitalize certain indebtedness of the parties, and to reflect on the books of Fair Hill and Springlawn realistic values for their properties. Under the terms of the plan, Stockford Farms, Inc., merged into Shapdale, Inc., February 28, 1963.

William du Pont, Jr. was the company's first president, then became vice president in 1931, became president and treasurer in 1940, resigned as president and became vice president in 1942, and assumed the presidency again in 1943.

Scope and Content

Administrative, financial, and banking papers of the Stockford Farms, Inc., encompass the entire period of the company's existence, while Correspondence and Invoices and Receipts cover the period when the company accumulated land in Maryland and Pennsylvania and operated seven subsidiaries, 1930-1946. Papers are organized in ten groups.

General Physical Description note

13 linear feet, 15 volumes.

Extent

From the Record Group: 339 Linear Feet

Language of Materials

From the Collection: English

Additional Description

Access Restrictions

No restrictions on access; this collection is open for research.

These records are located in remote storage. Please contact staff 48 hours in advance of research visit at askhagley@hagley.org

Related Names

Creator

Repository Details

Repository Details

Part of the Manuscripts and Archives Repository

Contact:
PO Box 3630
Wilmington Delaware 19807 USA
302-658-2400