Babcock inspected the capitol tract that same year, setting out from Tascosa on 23 March and arriving at the Yellow Houses on 27 April. Taylor was assigned company representative in June. This company was composed of Colonel Abner Taylor of Chicago, Colonel A.C. Though Mathias Schnell won the contract for constructing the new building in January 1882, by May he had assigned all interest to Taylor, Babcock and Company. Total expense for the capitol building amounted to $3,744,630.60, of which the Syndicate Company paid $3,224,593.45. The ranch stretched across all or portions of the counties of Dallam, Hartley, Oldham, Deaf Smith, Parmer, Castro, Bailey, Lamb, Cochran, and Hockley. Farwell of Chicago, Illinois, under which a syndicate led by the Farwells, with mostly British investors, agreed to build a new Texas State Capitol in Austin and to accept the 3,000,000 acres (12,000 km²) of Panhandle land as payment. In 1882, in a special legislative session, the 17th Texas Legislature struck a bargain with Charles B. In 1879, the 16th Texas Legislature appropriated 3,000,000 acres (12,000 km²) of land to finance a new state capitol. This was anciently the territory of the Querecho Indians and Teyas. The XIT ranch was located in the western edge of the Texas Panhandle. The massive ranch stretched through ten counties in Texas and at its peak regularly handled 150,000 head of cattle. Comprising over 3,000,000 acres (12,000 km²) of land, it ran for 200 miles (300 km) along the border with New Mexico, varying in width from 20 to 30 miles (30 to 50 km). The XIT Ranch was a cattle ranch in the Texas Panhandle which operated from 1885 to 1912.
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