Ch14 Specials Ep3 Austin Ntl Bank Pt2

Our Westlake

In Part 2, Emmett Shelton Sr tells memories of working with the Austin National Bank to develop Westlake Hills. One of Emmett's favorite tales is his work buying the land for the Low Water Bridge in 1937 to provide Westlakers access to the City of Austin.
In 1920, Emmett got his first account at ANB to finance a trip to the first Boy Scout Jamboree in England.
In 1924, when our rich aunt Lizzie Johnson died, John E. got her $80k on deposit at another bank transferred to ANB -- this gave the Shelton's a good credit rating with ANB.
And then in the 1940s, Austin banks used to use runners to transfer cash among banks. The system was word-of-mouth and trust. A Bank Runner at Capital Ntl Bank realized the possibilities! He took $5k from ANB that was intended for CNB and bought a car and left for California -- he got caught and was charged with Theft by False Pretenses and the Shelton's defended the guy. Austin Banks changed their transfer practices.
Austin Ntl Bank supported us thru the slump in the 1980 and financed the Bull Mountain. In 1983, we sold and took in a check for $1.7mill plus - all debts/taxes paid off. Great Day for All!
Those were the days in Austin Banking - roughly 100 years ago.
#Austinhistory
#Austintexas

For maps and other info check out our Facebook page: Our Westlake
Stories told by Emmett Shelton / compiled and submitted by Cynthia Shelton.