Sioux City Stock Yards
The early settlers in the region quickly learned that the wide fertile prairies provided rich feed for grazing livestock. However, they needed a place to sell their animals. At the same time, the market for meat was expanding in our rapidly growing country. Booge is often credited with being the father of the livestock industry in Sioux City. The pork-packing business he began along the banks of Perry Creek proved to be a very profitable one. His success led him to construct a much larger plant in The Union Stock Yards Company was first organized on January 21, 1884 with capital stock of $100,000. Many prominent Sioux City men signed the articles of incorporation including: Daniel Hedges, Booge, Ed Haakinson and Peirce. In 1887,additional money was invested in the Stock Yards. A bank and an exchange building were built at a cost of $25,000. Railroad sidetracks, pens and otherimprovements cost another $175,000. A large packing plant was constructed and leased to W.H. Silberhorn of Chicago. Then a second plant was built in 1888 and leased to Fowler Packing Company. The early developers invested another $775,000 into the Stock Yards venture.
In 1892, the Floyd River roared out of its banks and severely damaged the stock yards area. One result was that the stockyards was moved south, to a safer area away from the river. The Floyd River Flood of 1892 caused terrible destruction throughout the Sioux City area. But the worldwide panic of 1893 was even more damaging. Almost overnight, Sioux City banks and businesses failed, businessmen were ruined, and the Union Stock Yards Company was forced into bankruptcy.
It was Eaton who was given credit for helping to rebuild the stock yards. He came to Sioux City in 1894 as secretary and general manager of the Credits Commutation Company, a company formed by eastern bankers and investors who had lost a great deal of money when the financial panic hit Sioux City. The Credits Commutation Company organized the Sioux City Stock Yards Company, which bought the holdings of the old Union Stock Yards in July of 1895. Under Eaton's guidance, the stockyards were reorganized and reborn. He also helped organize the Inter-State Livestock Fair Association, which sponsored the nationally famous Interstate Fair in Sioux City. The Sioux City Stock Yards grew to cover 80 acres. The "Yards" area was a little town of its own, with business offices, a bank, scales, pens, loading docks and restaurants. The "big three" packing plants, Cudahy, Armour and Swift, established themselves in the stockyards area. Cudahy came in 1892, Armour in 1901, and Swift and Company began operations in 1917. The Swift plant was heavily damage As the stockyards grew, changes began to take place. The early growth was greatly due to the many available railroads in and out of Sioux City. Trains transported livestock into town and fresh meat to market. Until 1923, nearly all of the livestock was delivered by rail. By 1928, however, trucks had taken over about 40% of deliveries, and by 1953, 99 % of all livestock deliveries were done by truck. |