 The ranch was a plot of land traded in exchange for the construction of the Texas State Capitol in Austin.The ranch was dissolved in 1912, but its history is celebrated with the city's XIT Museum and the XIT Rodeo and Reunion.Held annually on the first full Thursday through Sunday weekend of August, the event includes the world's largest free barbecue, junior rodeo, Professional Rodeo Cowboys Association events, and three nights of live music.