Phelps and Gorham Company.

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Oliver Phelps with Nathaniel Gorham purchased 6,000,000 acres from Massachusetts of land in western New York State in 1788. This land was claimed by Massachusetts under its royal charter, which granted land from ocean to ocean. The charter of New York covered all of this land as well. The Hartford treaty of 1786 gave New York sovereignty over the area, but Massachusetts was given preemptive right to the western lands.

Oliver Phelps attempted to purchase the 6,000,000 acres for $100,000, when he could not raise the capital alone he formed a partnership with Nathaniel Gorham. The two were able to obtain title to only 2,000,000 of the original 6 million and began their land agency with the object of selling off the two million in their purchase. The company established a land office at Canandaigua, N.Y. This town formed the commercial center of the Phelps and Gorham Purchase. Initially land sales were good and property values increased dramatically, but by 1800 a depression in agricultural markets caused widespread defaults and forced Phelps into debt. The Phelps-Gorham purchase was evntually sold to Robert Morris, in an effort to cut losses and extricate the company from a faltering market. Phelps retained some lands, which his son Oliver L. Phelps continued to manage, along with other real estate interests held by Phelps nationwide.

From the description of Records, 1776-1892. (Unknown). WorldCat record id: 122535484

Archival Resources
Role Title Holding Repository
creatorOf Phelps and Gorham Company. Records, 1776-1892. American Periodical Series I
Role Title Holding Repository
Relation Name
associatedWith Brant, Joseph, 1742-1807. person
associatedWith Burr, Aaron, 1756-1836. person
associatedWith Clay, Henry, 1777-1852. person
associatedWith Clinton, DeWitt, 1769-1828. person
associatedWith Holland Land Company. corporateBody
associatedWith Leavenworth, Mark, 1752-1812. person
associatedWith Morris, Robert, 1734-1806. person
associatedWith Parish, Jasper, 1767-1836. person
associatedWith Phelps family. family
associatedWith Phelps, Oliver, 1749-1809. person
associatedWith Phelps, Oliver Liecester, 1775-1813. person
associatedWith Pinckney, Charles Cotesworth, 1746-1825. person
associatedWith Porter, Peter B. 1773-1844. person
associatedWith United States. Continental Army corporateBody
Place Name Admin Code Country
Connecticut
Western Reserve (Ohio)
New York (State)
Harpersfield (N.Y.)
United States
Massachusetts
Pennsylvania
Vermont
Phelps and Gorham Purchase (N.Y.)
Albany (N.Y.)
Canandaigua (N.Y.)
Stamford (N.Y.)
Morris Reserve (N.Y.)
Subject
Farm rents
Farm tenancy
Land companies
Land settlement
Land subdivision
Land titles
Merchants
Military supplies
Real estate investment
Surveys
Occupation
Activity

Corporate Body

Active 1776

Active 1892

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