Timeline

March 1834 - Williams travels to Monclova to attend legislative session of Coahuila and Texas. Requests charter to begin a bank in Texas.

April 30, 1835 - legislature of Coahuila approves charter for Williams to open a bank.

1836 - After independence was gained, Texas Congress writes anti-banking constitution. But Williams’s charter is accepted by the Texas government. No further support is given.

February 3, 1841 - Texas Congress specifically authorizes McKinney & Williams Co. to issue $30,000 worth of paper money.

December 30, 1847* - Williams opens the Commercial & Agricultural Bank, in Galveston, the first bank in Texas.

December 1848/Jan. 1849 - State of Texas prosecutes the C&A Bank for illegal operation under a new law. Original charter upheld.

March 1852 - Texas Supreme Court hears the appeal from the 1848 case. Charter upheld and 1841 congressional authorization upheld.

August 1852 - C&A Bank fined for passing money. Case dismissed due to lack of action by prosecution.

March 1853 - C&A Bank and board of directors fined again. Dismissed due to generic quality of charges.

1855 - Fines brought against the bank, again. Dismissed for same reasons.

January 1857 - Williams and the bank are fined for passing 50 bank notes. One fine accepted to set up grounds for appeal.

1859 - Texas Supreme Court invalidates 1835 charter. C&A Bank closes.

* or January 1, 1848, some records differ.

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