Friday, December 30, 2016

DOES ANYBODY REALLY KNOW WHAT TIME IT IS?




I’ve been pondering the nature of time since reading “Slaughterhouse Five” by Kurt Vonnegut in high school. In case you haven’t read the book, it involves a protagonist, Billy Pilgrim, who has become “unstuck in time”, meaning that he bounces between various times in his life and experiences events in real time. While this premise is an interesting science fiction twist in itself Vonnegut uses it to make a statement about the bombing of Dresden Germany during WWII.  More about this later.

Walking around my house the other day I noticed we have clocks everywhere; on the walls, on night stands, on my microwave and oven, on my arm, and in my pocket of all places. The other thing I noticed is that none of them had the same time. I was about to reset all my clocks when I remembered my sainted grandmother Alice. Alice was born in Cornwall at the turn of the 20th century into a world much different than ours. Hers was a world without electrification, where horses were the primary mode of transportation, and people died routinely of diseases we've put behind us. She lived through two world wars and saw humans walk on the moon. Yet through it all her concept of time never changed. To Alice there were only four times, on the hour, quarter past the hour, half past the hour, and quarter to the hour. That was all the accuracy she needed to order her day. There is a simplicity to this that is strangely compelling. Time is such an artificial construct and our communal illusion of accuracy fostered by digital timepieces makes it even more so.  

The discrepancies between timepieces made me think of the term “precision”.  Precision is a mathematical term that speaks to the accuracy of performing a mathematical function on numbers that have a different number of significant digits. The rule is that the result of any mathematical function performed on any series of numbers cannot be more precise than the number with the least significant digits following a decimal point.  For example, let’s multiply 452 times 5.7563. If you are using a calculator that will display fractions to the 10,000th place you will get the following result:

452 X 5.7563 = 2601.8476

In mathematics this is known as false precision. Since the number 452 does not contain any digits to the right of the decimal place the result of the multiplication cannot have a higher level of accuracy than the number 452.  Therefore, the correct answer to the multiplication problem is:

452 X 5.7563 = 2601.8476 or 2601. 

Note also that you cannot round the .8 up to make the answer 2602 either since that would make the .8 a significant digit in this case.

What does this say about how we measure and perceive time? Can I really say that at this instant it is 4:27:18 in the afternoon? Do the tools I have to measure time perform at that level of accuracy or is this another example of “false precision”? Perhaps more importantly, do I really need to know the time to the hundredth of a second, or the tenth of a second, or the second, or the minute? Or, as I suspect, do I need no more accuracy than that of Alice to give structure to my day?

Now back to Slaughterhouse Five. Slaughterhouse Five led me to question how we experience time. We perceive time as a continuous flow from the past, to the present, to the future. Proof of the linearity of time generally centers around entropy. Since entropy involves the linear decomposition of the universe from a higher energy state to a lower energy state scientists use entropy as an analog for the linearity and directionality of time. But what if, as proposed in Slaughterhouse Five, time isn’t linear? What if our perception of linearity is nothing more than an artificial construct of our human minds?

Silly you say? For evidence of the non-linearity of time we need look no further that Einstein. Einstein’s work demonstrates that time is relative and can be affected by factors such as velocity and mass. How I experience time is different from how you experience time if, for example, if I am traveling at extreme speed relative to you or if I am in close proximity to a large mass and you are not. Elements of the film “Interstellar” depend on this fact. This holds true for us in our physical environment as well. For example, if you and I are walking down the sidewalk at the same velocity we experience time in the same way. 

 

If, however, one of us diverges from this path and walks in a different direction at the same velocity, how we experience time is now different. 

 

Of course, at walking speed this difference is too little for us to notice. So while it may not be possible for use to become “unstuck in time” as was Billy Pilgrim, it certainly is possible for us to experience the passage of time differently.

But what about space-time? You and I occupy the same physical space as countless other entities but at a different point in time. Is it possible to be aware of the entities that occupied the same space as us in the past? I had a “time traveler” moment while on a trip to Rome a few years ago. I was standing in the center of the old Roman Forum and, for a brief moment, I thought I could feel the presence of the thousands of people that occupied this space before me. I sensed the presence to Roman legions parading past the cheering throngs along the Appian Way. I felt the presence of emperors, senators, citizens and slaves going about their daily business around me. Unfortunately, the connection did not last and I was brought back to our space-time by our guide for the day. 

So time remains an enigmatic mystery to me. I find that I continue to ruminate on the nature of time when I find myself gazing at the stars.  And since that day in Rome I’ve tried to tune into the lives of those that went before me, and in doing so break the bonds of space and time.

Tuesday, December 27, 2016

HISTORY OF THE BANK OF WINDOM

I am in the process of restoring a 114 year old bank building located in Windom, Texas. As part of that process I've applied for an historic marker through the Texas Historical Commission. The application required a detailed history of the bank. What follows is the text of my application along with some pictures of the bank.



CONTEXT
The first settlers in the area that would later become Windom were Nancy Fitzgerald and her children, the Abraham McClellan family, Jacob Baldwin, the James Donaldson family, the Longmire family, and others. The land on which these families settled were the surveys of Nancy Fitzgerald, John Balser, William Perry and Jemiah Pennington. They acquired this land by purchase or by a grant. The southern section of Windom is built on the Fitzgerald land grant.
The chief source of supplies for these early settlers were from Jefferson, Texas over the National Costal Highway to the south and the North Paris Road to the north and the trails and neighboring roads leading into them. As the settlement continued to grow the Texas and Pacific Railroad established a flag stop in town in 1872.
The Town of Windom was established in 1880. Tradition has it that the area, being the highest point between Texarkana and Fort Worth and exceptionally windy, took the name “Windom” from this condition. Others say that a train conductor was named “Windom” and they named the town after him. In 1876 or 1877 Windom was laid out in blocks and lots on the Sciser survey. The streets running east and west were named consecutively, beginning from the south, Elm, Bois d'arc, and Main Street. Starting from the west and running north and south the streets are numbered First, Second, Third, and Fourth Streets.
By 1890 Windom was a prosperous town of one hundred people. There was a post office, and a railroad station. B. J. Cagle operated a lumber mill. The Cooper brothers operated a cotton gin and a grist mill. J. M. Neel was the physician. Smit and Settle operated a grocery. William Selp was the blacksmith and wagon maker. The first one room school house was 1884.
The addition east of the original town plat was opened about 1917. This land was sold by M. T. Starling out of the Bolser Survey. When the town was incorporated in 1918 the population was three hundred and fifty and in 1930 three hundred and seventeen and in 1940 the population was two hundred and forty.[i]

OVERVIEW
The history of banking in the Town of Windom provides a microcosm of the banking industry in Texas in general. Prosperous farms and businesses in and around Windom generated a need for working capital. In 1876 however, the State of Texas, through actions of the Texas Legislature, banned the creation of new state chartered banks[ii]. Therefore, the only readily available sources of working capital were national and private banking institutions.  In 1900 the banking institutions nearest to Windom were the Planters National Bank and the First National Bank located in Honey Grove, TX, some five miles from Windom. Recognizing a need for local banking services, and likely deterred by the $25,000 minimum capital requirements of a national bank[iii], a group of local businessmen opened the private Bank of Windom in 1900[iv]. The bank operated out of F. C. Council’s store which, in addition to banking, also hosted a post office and grocery[v].  In October of 1902 the bank relocated to a new brick structure[vi] on the corner of Main and 2nd Streets at survey plot block 19, lot 8[vii]. It’s first cashier was Mr. Charley McCleary of Honey Grove[viii]. The building is thought to have been built by a group of itinerant masons who replicated these structures across north Texas. Other examples of their work are located in Dallas Heritage Village in Dallas, Texas and in Ponder, Texas[ix]. As an indication of a relationship between the First National Bank of Honey Grove and the bank of Windom, a private telephone line connected the two banking entities was installed in 1902.[x]
On August 14, 1905 the Texas Legislature reinstituted the Texas state banking system as part of the State Bank Law of 1905 making possible the chartering of state banks for the first time since 1876[xi]. In October of 1909 the owners of the Bank of Windom sold their assets to the newly-constituted First State Bank of Windom[xii].  The bank opened on October 29, 1909[xiii] with assets totaling $17,000. Officers of the bank include H. H. Leeman, President, A. N. Wheeler, Vice-President, F. J. Underwood, Cashier, John L. Wheeler, Assistant Cashier, and Directors W.  H. Dowlen, H.H. Leeman, J C. Payne, A. N. Wheeler, F. C. Council, and J. H. Baldwin[xiv]. As business increased the directors met on July 1, 1911 to increase the capitalization to $25,000[xv].
Beginning in 1921 the number of state banks in operation in Texas began to decrease and the bank failure rate increased significantly[xvi]. The First State Bank of Windom was a part of this trend. On November 14, 1921 the Commission of Insurance and Banking of the State of Texas closed The First State Bank of Windom involuntarily and liquidated its assets[xvii]. While the reason for the closure is not certain it was most likely due to the depression that began that year as well[xviii]. Ed Hall, the Commissioner of the agency, assigned S. O. Pottorf of Electra, Texas as the liquidation agent. Mr. Pottorf resided in Windom during the liquidation process[xix].
On December 13, 1921 the Guaranty State Bank of Windom opened in the same location[xx] with a capital base of $40,000[xxi] The directors of the Guaranty State Bank were W. Lee Dowlen, G. W. Floyd, Chris Runkle, J. A. Dowlen, and Jno I. Wheeler[xxii]. As the name implies, the Guaranty State Bank of Windom participated in the depositor’s guaranty system established by the Texas legislature on May 12, 1909[xxiii]. The Texas guaranty law empowered state banks to secure deposits by a guaranty-fund system or by a bond security system. Most bankers chose the guaranty-fund option. By this arrangement banks contributed a percentage of their average daily deposits during the preceding year to the fund. If a bank failed, assessments could be levied on other guaranty banks up to two percent of their average daily deposits in any one year. Under the bond security system, banks had to furnish a bond, policy of insurance, or other guaranty of indemnity equal to the capital stock of the bank[xxiv].
As bank failures increased, however, the financial burden placed upon banks supporting the guaranty system caused many banks to exit the state banking system by converting to a national bank[xxv]. Between 1919 and 1926 a total of 120 state banks converted to the national system[xxvi]. One of these banks was the Guaranty State Bank of Windom when on April 22, 1925 E.W. Stearns, the Acting Comptroller of the U.S. Treasury, certified that the Guaranty State Bank of Windom, having “complied with all the provisions and statutes of the United States”, authorized the bank to begin operations under the name of the First National Bank of Windom[xxvii]. On January 1, 1934 the FDIC began insuring deposits held by the bank for the first time[xxviii].
The bank was robbed during its tenure as a national bank. On October 29, 1930 a group of robbers gained access to the building through the rear and proceeded to cut through the vault door using a torch. Once they gained access to the vault the robbers cut a hole through the bottom of the 5000 lb. safe and removed $3,000 in cash and $3,000 in government bonds. The robbers left no clues and were never caught[xxix].
The bank operated at the same location under the same name until April 15, 1964 when it changed its name to Fannin National Bank. On January 20, 1976 Fannin National Bank was renamed simply Fannin Bank and moved from its historic location to a modern facility located on State Highway 56, and 75 years of continuous banking at the same location came to an end[xxx].


SIGNIFICANCE
The significance of the historic bank building in Windom is twofold. First, as noted above, the history of the banking entities that occupied the building represents a microcosm of the history of banking in the State of Texas. The history of banking in Texas is a tale of uncertainty, distrust, and confusion. The Texas Revolution, repeated constitutional prohibitions on banks, civil war, and unstable economic conditions hampered development of an established system of dependable banking institutions[xxxi]. At various points in its history the State of Texas permitted four types of banks to operate within the state, private banks, state chartered banks, state chartered banks that participated in the guarantee system, and national charted banks. In 1900 a group of local investors opened the private Bank of Windom that operated out of F. C. Council’s store, Inn 1902 the bank constructed and moved into the red brick building located at 501 Main Street. With the passage of the State Bank Law of 1905 state chartered banks were permitted for the first time since 1876. In October of 1909 the owners of the Bank of Windom sold their assets to the newly-constituted First State Bank of Windom (see appendix A - letter dated February 1, 1921). On November 14, 1921 the Commission of Insurance and Banking of the State of Texas closed The First State Bank of Windom and on December 13, 1921 the Guaranty State Bank of Windom opened in the same location. Finally, on April 22, 1925, having “complied with all the provisions and statutes of the United States”, the bank began operations as the First National Bank of Windom (see appendix B - letter dated October 11, 1928).
But a bank is more than a physical structure and series of legal entities. A successful bank is a necessary component of a successful community. This is especially true of the bank in Windom since it was the only local banking entity serving the town. The bank in Windom was a reliable source of working capital for farms and business as well as loans for home construction and other major purchases. The bank also provided employment opportunities for area residents throughout its history.
In 1975 Vince Cox was thirteen years old. He recalls riding through Blue Ridge Texas on his way to a junior high school football game against Farmersville when he saw a 1938 Chevrolet Coup for sale along the roadside and decided he had to have it. At the time Vince was working for Bob Holiday at the Steak Out restaurant in Bonham as a bus boy making $1.35 an hour and was unable to afford the $500 purchase price on his own. He applied for a loan at the First National Bank of Windom and Billy Cox, his great uncle and bank officer, approved the loan which was to be repaid at around $50 a month. Vince notes that “I still have that old Chevy in my shop, and it is still not finished. Maybe someday” (personal communication, March 6, 2016).

Restored front facade.

Front door interior

Restored pillar footings and headings

Restored footing, header, and new address plaque

Free standing vault

Original tile floor

Hallway


New windows in front facade

REFERENCES


[i] Windom Book Club (1976). “Our Town, Windom Texas”, pp. 4-8, The Doris Letter Shop, Big Spring, Texas.

[ii] Carlson, Avery Luvere (1930). “A Banking History of Texas 1835-1920”, pg. 64, Compano Bay Press, 2007.

[iii] Carlson, Avery Luvere (1930). “A Banking History of Texas 1835-1920”, pg. 81, Compano Bay Press, 2007.

[iv] Windom Book Club (1976). “Our Town, Windom Texas”, p 43, The Doris Letter Shop, Big Spring, Texas.

[v] Windom Book Club (1976). “Our Town, Windom Texas”, pg.43, The Doris Letter Shop, Big Spring, Texas.

[vi] Honey Grove Signal. (Honey Grove, Tex.), Vol. 12, No. 37, Ed. 1 Friday, October 10, 1902.

[vii] Windom Book Club (1976). “Our Town, Windom Texas”, pp. 10-12, The Doris Letter Shop, Big Spring, Texas.

[viii] Honey Grove Signal. (Honey Grove, Tex.), Vol. 12, No. 37, Ed. 1 Friday, October 10, 1902.

[ix] Email from Evelyn Montgomery, Ph.D., Director of Collections, Exhibits and Preservation, Dallas Heritage Village, January 11, 2016.

[x] Honey Grove Signal. (Honey Grove, Tex.), Vol. 12, No. 33, Ed. 1 Friday, September 12, 1902.

[xi] Carlson, Avery Luvere (1930). “A Banking History of Texas 1835-1920”, pg. 65, Compano Bay Press, 2007.

[xii] The Daily Favorite, (Bonham, Tex.), Vol. X11, No, 102, Friday December 17, 1909.

[xiii] Texas Department of Banking, http://www.dob.texas.gov/entity-search/entity-detail?bid=2085&eid=1&bn=0, accessed on February 24, 2016.

[xiv] The Daily Favorite, (Bonham, Tex.), Vol. X11, No, 102, Friday December 17, 1909.

[xv] Honey Grove Signal. (Honey Grove, Tex.), Vol. 21, No. 15, Ed. 1 Friday, May 19, 1911.

[xvi] Carlson, Avery Luvere (1930). “A Banking History of Texas 1835-1920”, pg. 70, Compano Bay Press, 2007.

[xvii] Texas Department of Banking, http://www.dob.texas.gov/entity-search/entity-detail?bid=2085&eid=1&bn=0, accessed on February 24, 2016.

[xviii] Carlson, Avery Luvere (1930). “A Banking History of Texas 1835-1920”, pg. 70, Compano Bay Press, 2007.

[xix] Honey Grove Signal (Honey Grove, Tex.), Vol. 32, No. 7, Ed. 1 Friday, March 17, 1922.

[xx] Texas Department of Banking, http://www.dob.texas.gov/entity-search/entity-detail?bid=2085&eid=1&bn=0, accessed on February 24, 2016.

[xxi] Honey Grove Signal (Honey Grove, Tex.), Vol. 32, No. 8, Ed. 1 Friday, March 24, 1922.

[xxii] Honey Grove Signal (Honey Grove, Tex.), Vol. 32, No. 12, Ed. 1 Friday, April 21, 1922.

[xxiii] Carlson, Avery Luvere (1930). “A Banking History of Texas 1835-1920”, pg. 83, Compano Bay Press, 2007.

[xxiv] Texas State Historical Society, “Handbook of Texas”, https://tshaonline.org/handbook/online/articles/czb01. accessed on February 25, 2016.

[xxv] Carlson, Avery Luvere (1930). “A Banking History of Texas 1835-1920”, pg. 72, Compano Bay Press, 2007.

[xxvi] Carlson, Avery Luvere (1930). “A Banking History of Texas 1835-1920”, pg. 72, Compano Bay Press, 2007.

[xxvii] Honey Grove Signal (Honey Grove, Tex.), Vol. 35, No. 16, Ed. 1 Friday, May 22, 1925.

[xxix] Honey Grove Signal-Citizen (Honey Grove, Tex.), Vol. 40, No. 39, Ed. 1 Friday, October 31, 1930.

[xxxi] Carlson, Avery Luvere (1930). “A Banking History of Texas 1835-1920”, Compano Bay Press, 2007.