Toby and Brother Company

Toby and Brother was a mercantile firm in New Orleans that served as a purchasing agent for the Republic of Texas. It was formed by brothers Thomas and Samuel Toby. They were commissioned to sell 500,000 acres of land to raise funds for the new Republic. There was little demand for the land scrip, and prices dropped to as low as fifteen cents an acre. When the Texas government ended the conract and recalled all unsild scrip, they owed Toby and Brother over $75,000, which was not settled until 1881.