Holding company, South Kingstown, R.I.
Size: 1.25 linear feet
Catalog number: MSS 483 sg 42
Processed by: Rick Stattler and Steve Dalpe, January 1999
©Rhode Island Historical Society
Rowland Third Inc. was a holding company incorporated in 1930. The incorporation was done in the state of Delaware, because of lenient tax laws. It was apparently set up by the Hazard family to assist Rowland Hazard III (1881-1945) of Peace Dale, R.I. in his various investment plans. All 100 shares of stock seem to have been initially held by Hazard's mother Mary P.B. Hazard (1859-1936). When her assets were placed in the Hazard Trust in 1932, that trust became owner of all 100 shares. The Hazard Trust advanced large sums of money to Rowland Third. In return, as a security on this investment, Rowland Hazard deeded his many of his various land holdings to Rowland Third. With this capitalization, he was able to manage his three New Mexico-based businesses. In 1930, the Aguadero Corporation was incorporated as a wholly-owned subsidiary of Rowland Third Incorporated, and was also known as "Rancho el Aguadero". Timonel Farms and La Luz Clay Products Company were both incorporated later that year. The Aguadero Corporation was the primary stockholder in both La Luz and Timonel, but was not the sole owner.
Initially, the administration of the company was carried out in offices in New York City, mainly under the administration of Rowland Hazard's secretary, Mrs. K.R. Young. After 1933, the administration was carried out in Peace Dale, Rhode Island by a long-time Hazard family accountant, Earl W.G. Howard (1894-1989), who served as Assistant Treasurer. Rowland Hazard III served as president of Rowland Third from its incorporation through 1941. After 1941, Rowland's brother Thomas P. Hazard was chosen as president and oversaw the settling of its affairs.
In addition to its New Mexico subsidiaries, Rowland Third Inc. owned the following properties directly (all obtained through Rowland Hazard) and possibly others:
1) A building at 52 East 52nd St. in Manhattan, which served as Hazard's New York residence. This was transferred it to Hazard's new corporation, the What Cheer Realty Company, in 1932.
2) The "Hope Ranch" property in La Cumbre Estates, Santa Barbara, California, sold in 1949.
3) The "Sugar Bush" estate in Glastonbury, Vermont and several neighboring lots. This was used both as an occasional summer home by Rowland Hazard and a rental property. It accounts for Rowland Third's sole full-time employee: a caretaker named Lloyd Mattison whose paychecks were issued by the company, until Sugar Bush was sold to Martin Horrell in 1943.
4) "Druid's Dream" in Narragansett, R.I. Druid's Dream was deeded by Rowland Third Inc. to Rowland Hazard II and his wife in 1938.
5) The "Pied-a-Terre" estate in Narragansett, sold in 1933.
Rowland Third and its subsidiaries initially lost large sums of money. Though expenses were cut after the New York offices were closed, the company never declared a profit on its tax returns, and its subsidiaries were all virtually defunct even before Rowland Hazard's death in 1945. The Aguadero Corporation was formally dissolved in 1948. Rowland Third Inc. was formally dissolved in Delaware charter in 1949. It had virtually no assets, and carried a massive debt to the Hazard Trust, still the owners of all 100 stock shares. Its only remaining asset, the La Luz Clay factory, was bought in 1950 by the Royal Hickman Corporation.
"Rowland Hazard Dead in 65th Year", Providence Journal, 12/21/1945
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Scope and content:
Hazard and his staff did not seem to make careful distinctions between Rowland Third, Aguadero, La Luz and Timonel in their book-keeping. For the sake of organization, the Rowland Third Inc. Records will include only those records that relate in part to the company's holdings across the country (New York, California, Vermont and Rhode Island). Records that relate only to the various New Mexico companies will be filed under the Aguadero Corporation Records. Records relating specifically to La Luz or Timonel will be filed with those groups.
The records of Rowland Third Inc. include financial records, correspondence, deeds and administrative papers. The bulk of the records seem to be those kept by the corporation's assistant treasurer in Peace Dale, R.I.
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These papers were donated by the Hazard family as part of the Hazard Family Papers in 1985. They had been placed on deposit in 1975.
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This collection is part of the Hazard Family Papers, which were processed with support from the Rhode Island Committee for the Humanities, the Beinecke Foundation, and the extended Hazard Family.
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Series 1: Correspondence
Box 1, folder 1. 1932-1936
Box 1, folder 2. 1937-1938
Box 1, folder 3. 1939-1949
Box 1, folder 4. 1949 dissolution
Series 2: Financial
Box 1, folder 5. Bank statements, 1933-1936
Box 1, folder 6. Checkbook, 8/1930 - 6/1931
Box 1, folder 7. Checkbook, 6/1931 - 10/1932. Labeled "Account used primarily to pay R.H. personal bills while abroad in 1931"
Box 1, folder 8. Financial statements, 1932-1936
Box 1, folder 9. Journal, 1933-1937
Box 1, folder 10. Ledger, 1933-1937
Box 1, folder 11. Office cash envelopes, 1933-1948
Box 1, folder 12. Office cash - Accounts with Mr. and Mrs. Rowland Hazard, 1933-1937
Box 1, folder 13. Tax - California franchise tax returns, 1932-1949
Box 1, folder 14. Tax - Rhode Island state tax returns, 1932-1948
Box 1, folder 15. Tax - U.S. capital stock returns, 1935-1945
Box 1, folder 16. Tax - U.S. franchise tax returns, 1933-1942
Oversized volume 1. Voucher and check register, 1931-1944
Oversized box 6, folder 6. Corporation tax returns, 1932-1949
Series 3: Property records
Box 1, folder 17. General - Insurance book, 1934-1936
Box 1, folder 18. General - Insurance book, 1935-1939
Box 1, folder 19. General - Insurance book, 1939-1949
Box 1, folder 20. General - Insurance coverage, 1933-1937
Box 1, folder 21. California - deeds and mortgages, 1927-1944
Box 1, folder 22. California - Miscellaneous, 1938-1945
Box 1, folder 23. New York - Correspondence, 1930-1931
Box 1, folder 24. New York - Correspondence, 1932-1933
Box 1, folder 25. New York - Deeds and agreements, 1927-1930
Box 1, folder 26. New York - Receipted bills, 1930-1933
Box 1, folder 27. New York - What Cheer Realty Corp., 1932-1934
Box 1, folder 28. Rhode Island - Deeds and appraisals, 1929-1938
Box 1, folder 29. Vermont - Correspondence, 1931-1938
Box 1, folder 30. Vermont - Correspondence, 1939-1941
Box 1, folder 31. Vermont - Correspondence, 1942
Box 1, folder 32. Vermont - Correspondence, 1943-1946
Box 1, folder 33. Vermont - Deeds and sale brochure, 1930-1943
Box 1, folder 34. Vermont - Receipted bills, 1936-1942
Series 4: Miscellaneous
Box 1, folder 35. Annual reports, 1931-1948 (Delaware and Rhode Island)
Box 1, folder 36. Incorporation and by-laws, 1930
Box 1, folder 37. Payroll - Lloyd Mattison, 1937-1943 (see also Vermont correspondence)
Oversized box 6, folder 7. Inventory and assessment, undated; organizational chart, undated.
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Hazard, Rowland III (1881-1945)
Howard, Earl W.G. (1894-1989)
Narragansett, R.I. - Buildings, structures, etc.
New York, N.Y. - Buildings, structures, etc.
Vermont - Buildings, structures, etc.
What Cheer Realty Corporation (New York, N.Y.)
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