DUANE
Duane's take
The way the marker in Navarro County tells it, here's how the First National Bank of Corsicana came to be — and what it witnessed along the way. Corsicana was founded about 1850. Just a town, sitting there, waiting for something to connect it to the wider world.
That something arrived in 1871, when the Houston and Texas Central Railroad came through and gave Corsicana its rail connections with national commerce. And right behind that railroad came two men who'd worked for it. Captain James Garitty, born in 1842, had experience as a bank clerk.
Joseph Huey, born in 1827, had been a tin and hardware dealer. Two former H. and T. C. employees, different backgrounds, same ambition.
Together they set up a private concern and called it Garitty, Huey and Company. They served cotton growers. They served ranchers.
They served the cowboys driving cattle right up to that very railroad. These were working people's bankers, in a working town. Now, business has a way of growing on you.
By 1886, Garitty, Huey and Company had expanded so greatly that they incorporated, obtained a charter, and the First National Bank of Corsicana was born — with capital of a hundred and twenty-five thousand dollars and a surplus of seventy-five thousand. That is not a small number for that era in Texas. But here's where the story takes a turn nobody planned for.
In 1894, somebody was drilling for a new municipal water well. A water well. They were thirsty, not greedy.
And what came up out of the ground was the first major oil and gas discovery in the state of Texas. Let that sit with you a moment. Out of that pioneer field came a string of firsts that would reshape the whole state.
The first use of natural gas for lighting and heating in Texas happened right there. The first use of petroleum to fuel railroad locomotives — there. The first use of oil in highway surfacing — Corsicana again.
And Texas' first refinery was built in Corsicana. Through all of it — the cotton, the cattle, the crude oil, the firsts stacking up one on top of another — the First National Bank of Corsicana was there. Giving aid and leadership in many phases of civic progress, as the marker puts it.
Joseph Huey lived until 1904. Captain Garitty lived until 1925. Long enough to see what the town they'd helped build had become.
They came to town on a railroad. They ended up helping fuel the world.
What the marker says
An institution whose history reflects rise of a landmark city. Corsicana was founded about 1850. In 1871, when the Houston & Texas Central gave the town rail connections with national commerce, two former H. & T. C. employees established this bank as a private concern. The men were Capt. James Garitty (1842-1925), experienced as a bank clerk, and Joseph Huey (1827-1904), a tin and hardware dealer. The firm was called Garitty, Huey & Company, and served cotton growers as well as ranchers and cowboys driving cattle to the railroad. By 1886 their business had expanded so greatly that they incorporated and obtained a charter for the First National Bank of Corsicana, with capital of $125,000 and surplus of $75,000. Drilling for a new municipal water well in 1894 brought first major oil and gas discovery in Texas. The pioneer field developed first use in the state of natural gas in lighting and heating, first use of petroleum for railroad locomotives, first use of oil in highway surfacing. Texas' first refinery was built in Corsicana. During and after the years of petroleum industry development, the city gained other business and cultural advantages, with this bank giving aid and leadership in many phases of civic progress.