Galveston City Company

The Galveston City Company was formed in 1838 to develop the eastern end of Galveston Island. It was started by Michel Menard who was a Texas land speculator. He attempted to acquire the land in 1834, but Mexican law prevented Anglos from owning land on the island. His title to the lands was contested and he had to pay the Republic $50,000 to clear the title. Principal investors in the company included Thomas McKinney and Samuel May Williams. The company incorporated in April 1838, with Menard elected as the President of the Board of Directors. Other directors were McKinney, Williams, Mosely Baker and John K. Allen. The company was responsible for laying out and developing the city of Galveston. The company operated into the 20th century, and its operations were absorbed by Stewart Title Company.