The Southwestern Historical Quarterly, Volume 67, July 1963 - April, 1964 Page: 230
672 p. : ill., maps, ports. ; 23 cm.View a full description of this periodical.
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Southwestern Historical Quarterly
boro's fine families, Dorothy Yerby, who was to share his struggles
and his successes, and who still lives in Winnetka, Illinois.
Each move he had made in life had broadened his experience
and helped him in dealing with men of every character. When he
arrived in Hillsboro, he had found that a large segment of the
population both in the town and in the surrounding country were
from the Southern states and that Tennessee and his own native
Kentucky were well represented by many of the leading men in
the community. In addition, there were enough northern people
to fill the post office job during a Republican administration. At
Malone he had found many people of German descent. This
association proved helpful to him when he later moved to St.
Louis and Chicago, where people of that nationality were active
in every line of work.
As a growing boy, on the Kentucky farm, Melvin had lived
through the panic which began in 1892. While he was an appren-
tice banker, the short-lived 1907 panic taught him human nature
and diplomacy, for this was really not so much a credit panic as
it was a currency panic. No one, bankers included, wanted to part
with a five dollar bill for fear that it would not be replaced. This
caused the tellers to induce a man who presented a check for
payment to accept a deposit slip, assuring him that his checks
would be honored. The banker knew that many of these checks
would drift in to be deposited by merchants or others. A short
panic in 1914 and a serious one in 192o-1921 taught him that
prices did not run on one-way streets.
In January, 19o8, Traylor accepted a position as vice-president
of the Citizens National Bank of Ballinger, Texas. In 9go9, the
Citizens National Bank and the First National Bank of Ballinger
were consolidated as the First National Bank, and he was made
president, a position which he held until 1911, when he was
offered a job with the Stock Yards National Bank of East St. Louis.
His work among the virile, enterprising people of West Texas
added further to Traylor's fund of valuable experience in dealing
with the public, for there he found men who had the pioneer
spirit and courage, cattlemen as well as farmers. The opportunity
to make loans on livestock as a representative of the banks and
commission houses of St. Louis, Kansas City, and Chicago proved23o
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Texas State Historical Association. The Southwestern Historical Quarterly, Volume 67, July 1963 - April, 1964, periodical, 1964; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth101197/m1/270/: accessed April 27, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Texas State Historical Association.