The Capitol Freehold Land and Investment Company, which incorporated in England in 1884 to finance the XIT Ranch, deeded land for Olivet Cemetery to James M. Hamlin in November 1908. One of the earliest burials is John Armstrong, an XIT manager and shipping agent who was shot by cattle thieves while loading cattle onto rail cars in Bovina. A local tragedy is recalled at the plot of the Hassell family, a mother and eight children who were murdered in 1926. About one hundred interments have been identified in the ten-acre cemetery, including veterans of military conflicts dating to the Civil War. It was Farwell's first cemetery, and many prominent names in Parmer County, Texas and Curry County, New Mexico are represented there.