The Missouri-Kansas-Texas Railroad (MKT) operated from 1870–1988, when it was merged into the Union Pacific. It was owned by private investors and constructed to funnel goods and passengers from Missouri and Kansas to Texas, across Indian territories. The railroad was commonly referred to as the Katy, after its stock exchange symbol: ‘the K-T’. Its first tracks were laid around Denison, a railroad town, and reached Waco in 1880 and San Antonio in 1901. Railroad building northwards into Oklahoma territory (it was not yet a state) was stalled by disputes over Native American land rights. Despite intermittent financial difficulties, the MK &T prospered during the 30s and made a good profit importing wheat from Oklahoma and exporting oil from Texas. By 1988, it was sold to Union Pacific, as its limited lines meant that it could not compete with its larger rivals.