H. P. Drought and Company

A San Antonio based loan brokerage firm. The H.P. Drought and Company was the successor to Francis Smith and Company, which was founded in San Antonio, Texas, in about 1883 as Francis Smith, Caldwell and Company.

From the description of H.P. Drought and Company records, 1883-1966. (University of Texas at San Antonio). WorldCat record id: 40070440

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.

From the guide to the H. P. Drought and Company Records MS 69., 1883-1966, (University of Texas at San Antonio Libraries Special Collections)