Ch14 Specials Ep2 Austin Ntl Bank Pt 1

Our Westlake

Emmett Shelton Sr. tells memories of early banking in Austin, in particular Austin Ntl. Bank and its predecessor First Ntl. Bank of Austin -- Roughly 100 years ago.
In the early 1900s, Emmett's father, John E. Shelton, partnered with AO Sambo and began his law firm in an office on the second floor above the Austin Ntl. Bank on the east side of 5th and Congress. As a young child, Emmett visited the law office often and remembers the early elevator and bank folks.
One man Emmett remembered in particular was wealthy Mr. Gillfillan who helped Emmett sell bonds for his Boy Scout Troop. Mr. G was also involved in life insurance, and he helped Uncle Crawford's widow get double benefits when he was killed.
Another interesting story was about ANB president Tom Davis and an early land deal of 80 acres for $3000 in Krause Springs near the Perdernales. He advised Emmett, "Nobody ever went broke by taking a profit." At the time, ANB was holding the 1,000 acre Larson Ranch in WLH valued at $3000 -- which in recent years valued well over $1 million --instead Emmett lost his money on his first land deal at Krause Springs.
And finally, Emmett shares a rare first-person story about O'Henry's early banking job with ANB's, predecessor First Ntl. Bank.
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Stories told by Emmett Shelton / compiled and submitted by Cynthia Shelton.