Connecticut Land Company

The Connecticut Land Company (1795-1809) was a syndicate of 35 groups representing 58 individuals who purchased on credit the majority of Connecticut's Western Reserve land as a speculative venture. Proceeds from the sale of the Reserve were used to establish the Connecticut School Fund. The Western Reserve was that area of northeastern Ohio which Connecticut reserved for her citizens in 1786 in exchange for ceding the remainder of her western land claims to the newly-formed United States government. Settlers were slow to purchase Reserve lands, and many of the original proprietors did not make any profits due to company mismanagement.

From the description of Records, 1765-1835 [microform]. ca. 1765-1835. (Connecticut State Library). WorldCat record id: 46389572

From the description of Miscellaneous records, 1765-1835. (Rhinelander District Library). WorldCat record id: 22505071

The Connecticut Land Company (f. 1795) was a syndicate of thirty-five groups representing 58 individuals who purchased the majority of Connecticut's Western Reserve lands for profitable resale. The Western Reserve was that area of northeastern Ohio which Connecticut reserved for her citizens in 1786 in exchange for ceding the remainder of her western land claims to the newly-formed United States government. For approximately 1.2 million dollars, the land company received title to all Reserve lands except the Firelands in the extreme west of the region and a Salt Springs Tract in the Mahoning Valley. Each purchasing group received a number of shares proportionate to the money invested in the venture. Seven directors were then appointed to settle the Indian claims, survey the land into townships, sell the land, establish settlements, and run the company. Slow land sales and company mismanagement dogged the venture and by 1809 an annual report reflected a large amount of unpaid interest on the company's debt and unsafe collateral on the original debt. The Connecticut Land Company dissolved that same year when all unsold land was divided among the proprietors.

click here to view the Encyclopedia of Cleveland History entry for the Connecticut Land Company

From the guide to the Connecticut Land Company Miscellaneous Records, 1765-1835, (Western Reserve Historical Society)