CATTLE: Scottish Bargain

Even Texans are impressed at the size of the 800,000-acre Matador Ranch, second only to the King Ranch (950,000 acres) in the U.S. Matador is so big that a cowboy can ride 56 miles without leaving the main ranch; its roundup goes on all the year round. Matador had another distinction: it was not controlled by Texans, but by thrifty Scotsmen in Dundee.

Last week, with cattle prices pushing their ceiling, the Scotsmen decided to get out at the top. The five directors and more than 90% of the owners of the company's 800,000 shares of stock...

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