Of the original 2,000 shares available for purchase 920 shares remained to be sold. At $50 per share the sale of the additional stock would raise the final $46,000 to fund the total capital of the corporation.

Closing the Deal

In late November and early December of 1902, Mr. George Blalock, Mr. Green Parmer, Mr. George Ingram and Mr. S. C. Talley were in Mexico City trying to complete all the paperwork needed to close on the Hacienda El Chamal purchase. According to a letter (Appendix F) from Reverend S. C. Talley [signed Uncle Talley] written on December 5, 1902, and mailed from Mexico City: ...Blalock stays so long amid these scenes so sublimely beautiful. The officials here seem to be slow, but not more so than is necessary in such important transactions; the greatest care is taken that no mistakes are made in the maps, translations and all the details of the transfer; and when our people see the result they will put such a sense of security in the possession of the valuable property they will be ready to say of Blalock and the Mexican authorities, "well done thou good and faithful servants." Do not know how soon we will be able to leave here and go to Chamal, but will as soon as the business is in a shape that it will do to leave. Blalock is so exceedingly anxious to get home that he may start any day, and were it not that he feels that he is needed more here than there would leave at once.[2]

The group scheduled a meeting with Mexican authorities to discuss the duty free entry of colonists' possessions. Reverend Talley wrote, "We are aiming to plead earnestly for the admission of our old organs, pianos and other musical instruments free of duty or at a nominal rate. May shed a few tears as we think of how dear to the hearts of our women these treasures are."[3] Uncle Talley was confident that those in Mangum would be proud of the efforts of George Blalock and appreciate his efforts on their behalf.

While in Mexico City, Mr. Blalock discovered that the papers to finalize the purchase would be delayed for two weeks. Although he had given fifteen days notice of his intention to purchase the property, the owners had dallied thinking that the purchase might not go through. The Mexican officials did not want to get all the records and pay the taxes for nothing. Mr. Blalock assured them that he was still interested in buying the property and the $24,000 he showed them lit a fire.[4]