The Southwestern Historical Quarterly, Volume 62, July 1958 - April, 1959 Page: 232
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232 Southwestern Historical Quarterly
Silver and gold bullion and coins went back with the returning
trains. Often, these were "packed in io and 20 gallon kegs."
The first national bank opened in Corpus Christi on October
g, i89o, log entries show. Several years later, in 1893, the logs
relate an amusing tale about the "Corpus Christi bank panic
A man named Phansteel moved to the city that year and de-
posited, by draft, $5,000 in the Corpus Christi National Bank.
During the nationwide panic, he became frightened and wanted
to withdraw the money. Bank authorities explained to Phansteel
that folks were allowed to draw out $25 or even $5o, but be-
cause of such "fearfully hard" times, the bank would not allow
withdrawal of large sums. This situation was explained to Phan-
steel, but he still insisted on getting his money.
Thomas Hickey, the bank cashier, "saved the day" by offering
to let Phansteel have the entire $5,ooo if he would accept the
whole in silver. As this would have been quite a heavy load for
any one man to carry, the unhappy depositor finally agreed to
let his cash remain in the bank. Log records say that Phansteel
was remembered years later because of this incident and also
because of the unusual way he had of putting his name on checks.
He signed upside down.
On and on the log stories go, relating the history and happen-
ings of the Corpus Christi-Aransas Pass area in a bygone day. In
these Mercer logs, history of the late 18oo's is related, but the
human events told between the lines will long make the reader
live again the days of these pioneers.
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Texas State Historical Association. The Southwestern Historical Quarterly, Volume 62, July 1958 - April, 1959, periodical, 1959; Austin, Texas. (texashistory.unt.edu/ark:/67531/metapth101173/m1/275/: accessed July 23, 2017), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; crediting Texas State Historical Association.