Carmel Valley dates back to the Rancho Los Laureles, which was a Mexican land grant in present-day Monterey County, California given in 1839 by Governor Juan Alvarado to José M. Boronda and Vicente Blas Martínez. The grant extended along the Carmel River and the Carmel Valley; and encompasses present day Carmel Valley. In 1882, the Pacific Improvement Company (PIC) purchased the Rancho Los Laureles. In 1916, Samuel F.B. Morse became the manager of the PIC and his job was to liquidate the PIC holdings (10,000 acres). In 1919, Morse formed the Del Monte Properties and acquired PIC. In 1923, the Del Monte Properties divided the land into 11 parcels. Marion Hollins bought 2,000 acres. In 1926, developer Frank Porter bought 600 acres. He later acquired a portion of the Hollins ranch and sold it to Byington Ford. Byington and his wife Marion used 400-acres as a summer ranch and named it Moon Trail Ranch. It was located at Via Las Encinas in Carmel Valley.