Historically Significant Augusta National
Golf Club Letter
regarding Foreclosure and Formation of The
Augusta National, Inc.
Offered here is a truly significant opportunity to obtain an original December
2, 1935 letter from Augusta National's attorneys to its creditors announcing the
foreclosure sale of the most famous golf course in the world. When Bobby Jones
and Clifford Roberts decided to build their dream golf course in 1931, they
formed an entity called Fruitland Manor Corporation, to own the land that would
become Augusta National's golf course. According to this letter, due to
the Great Depression, that new entity could not met its obligations. Therefore,
even after the 1934 and 1935 Masters Tournaments were held (then-called the
Augusta National Invitation Tournament), the Fruitland Manor Corporation went
through foreclosure. The land, which now contained the Augusta National golf
course, was purchased at the foreclosure sale to ensure the survival of the
course and Augusta National Golf Club, and a new entity was formed - The Augusta
National, Inc. This letter to the creditors of Augusta National is from Augusta
National's attorney. It relays the above-mentioned events, and goes on to give
Augusta National's creditors a one-time option (to expire 3 weeks later) to
accept Class B stock in The Augusta National, Inc. or to forever relinquish any
right as creditor (due to the foreclosure).
This original letter comes from the grandson of one of those early Augusta
National creditors. It has never been seen publicly before this auction. This
letter represents a significant point in the difficult early history of Bobby
Jones' Augusta National Golf Club, as it struggled to run a private golf club
and golf tournament in the midst of the Great Depression.
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