The collection consists of letters and documents relating to James Clay Houghton's estate. His executor was Harry M. Cutler, treasurer of National Life Insurance Company, and much of the correspondence was written to or by him. The bulk of the correspondence consists of letters about loans made by James C. Houghton. Other correspondents include Grace R. Houghton and Edward R. Houghton.

James Clay Houghton was born in Petersham, Massachusetts on September 2, 1841, the son of Rev. James C. Houghton and Julia (Morton) Houghton. In 1857, his family moved to Chelsea, Vermont. He graduated from Amherst College in 1862. After college he worked as cashier in the Orange County National Bank, and, in 1871, after moving to Montpelier, Vermont, as cashier of the First National Bank. In 1874, Houghton accepted a directorship in the National Life Insurance Company and in 1885, he was raised to the office of Treasurer. He was elected vice-president in 1897 and president in 1901.

He married Grace R. Blackwell in 1869. They had two children, Edward Rittenhouse Houghton and Grace Morton Houghton. James Clay Houghton died on March 4, 1902.