Monroe Dunaway Anderson: Benefactor of Medicine and Mankind Page: 9 of 34
16 p. ; 28 cm.View a full description of this text.
Extracted Text
The following text was automatically extracted from the image on this page using optical character recognition software:
4 ~~ 1. It .
#4
learned the cotton business, nor wanted to,. He was in charge of the
financial affairs of the Anderson Clayton Cotton Company and was really
not active in the company until the establishment of the Houston office
in 1907. In 1904, the Anderson Clayton Cotton Company was formed, each
partner contributing 3,000, a total financial statement or capital worth
of 125,000 being produced by the additional savings of the frugal Monroe
who was still cashier of the People's Savings Bank in Jackson, Tennessee.
The new company in Oklahoma City soon outgrew Jackson's banking facilities,
even as its foreign commitments made it seek an outlet to the sea. In 1907,
the firm established an office in Houston, soon destined to become a deep-
water port. Will's younger brother, Ben, meanwhile had become a partner
of the growing firm.
From 1907 to his death in 1939, M. P. Anderson's life was that of his
company. The cotton industry continued to grow and the Houston operation
which had been chiefly the banking operation and outlet for the company
became the home office. Monroe Anderson handled the banking and financial
interests and talked the language which bankers understood, so that with
his help and the sound business judgment of the other partners, the company
grew into the dominant position of the cotton business which it still occupies
today. As indicated before, Monroe Anderson was brought up as a banker,
not as a cotton man, and up to the end of his life he looked after the
finances of the firm.
Monroe's brother Frank Anderson died at the end of 1924. At about
this time the Anderson Clayton Company shifted from a partnership to a
joint stock association under the laws of Texas and sometime later became a
full corporation which it is now.
Upcoming Pages
Here’s what’s next.
Search Inside
This text can be searched. Note: Results may vary based on the legibility of text within the document.
Tools / Downloads
Get a copy of this page or view the extracted text.
Citing and Sharing
Basic information for referencing this web page. We also provide extended guidance on usage rights, references, copying or embedding.
Reference the current page of this Text.
Greenwood, James, Jr. Monroe Dunaway Anderson: Benefactor of Medicine and Mankind, text, October 5, 1964; (https://texashistory.unt.edu/ark:/67531/metapth822881/m1/9/: accessed July 18, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Moody Medical Library, UT.