A thumb-nail history of the city of Houston, Texas, from its founding in 1836 to the year 1912 Page: 94
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Houston's First Bank and Banker-The Great
Banks of Today-Houston the Financial Center
of the State-Houston's Great Trust Companies.
Houston's first bank was actually one year older
than Houston itself, having received its charter
from the Congress of CoalilJ and Texas before
Texas became a Republic. t was an ambitious
corporation, too, having a capital stock of $1,000,000,
some of which was actual cash, and its charter
made it a bank of issue. Mr. S. M. Williams was
its president and Mr. J. W. McMillan its cashier.
Among the first acts of the Congress of the Republic
of Texas was a bill for the relief of the incorporators
of this bank, whereby their vested rights
were recognized and protected. The institution
was not popoular and constant warfare was made
on it. It finally received its death blow when the
Supreme Court annulled its charter.
Mr. T. W. House, Sr., Mr. W. J. Hutchins,
Mr. Cornelius Ennis and others of the early merchants
conducted banks of their own in connection
with their cotton and mercantile business. In 1854
Mr. B. A. Shepherd opened an independent bank
engaging exclusively in the banking business and
this was the first bank in Texas and Mr. Shepherd
was the first banker. The million dollar bank re
ferred to in the foregoing paragraph had other
features than banking, which leaves MT. Shepr
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Young, Samuel Oliver. A thumb-nail history of the city of Houston, Texas, from its founding in 1836 to the year 1912, book, 1912; Houston, Texas. (texashistory.unt.edu/ark:/67531/metapth24649/m1/107/: accessed June 22, 2017), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; .