100 Years of Boswell

Back then, most of Boswell’s cotton acreage was leased and farmed by others. So, when banks refused to lend directly to these growers, the company stepped up. In 1928, the J. G. Boswell Farm Loan Company was created to help farmers secure loans by discounting them with the Federal Intermediate Credit Bank. This support became a game-changer, offering a much-needed financial lifeline to California’s cotton community. By doing it all—making farm loans and growing, ginning, and producing cotton across two states—the J. G. Boswell Company was setting itself apart from the rest of the industry. As Boswell continued to grow, financing the expanding business became a challenge. To help manage this, the company set up several new businesses, each able to establish its own line of credit. This included the Salrey Warehouse Company (now Tulare Lake Storage Company) in 1929, followed by the J. G. Boswell Ranching Company, the J. G. Boswell Gin and Oil Mill Company, and the Melga Company in 1933. These moves helped keep the company financially strong and ready for future growth. But during the depths of the Great Depression, cotton prices took a nosedive, putting businesses like Boswell to the test. To keep the company afloat, Colonel JG transferred much of his own assets to the company in exchange for equity. He then sold off shares of his equity to friends and neighbors, raising the capital needed to keep things running. Thanks to this move, the company not only survived the rest of the Depression but also came out stronger than ever.

Work on the 749 levee, 1934

Advancing Agriculture, Building Communities 21