El Paso herald. (El Paso, Tex.) 1901-1931, 1917-07-25
T00LEY QUITS
FIRST MORTGAGE
After 6 Years Hard Work
Manager Retires To
Take Needed Rest.

Giving as his reasons that he has
been advised 10y physicians that he
should give up office detail work and
spend as much time as possible in
outdoor living, and also that he de-
sires TO give more time TO his per-
sonal affairs, William i. Toole-. vice
president and active manager Of the
First Mortgage company, I'd Paso'
million dollar financial Institution. or
fered his resignation TO the board OF
directors of that corporation Tuesday
afternoon To take effect August J.
The directors accepted, with regret
7Ir. TooIey's withdrawal as manager.
and persuaded him TO remain as vice
president and director. He is iookin-
forward TO the first real Facallon A-
has had for % years. since ne rt-all
work in the banking business al
ClarksburE, NO
one Of Most Active Banker
Besides being Identified VIII" many
civic movements iu this city 4F
Tooley has been one OF the most ac-
tive fluauciers here since ltvt' " .i7--
ha accepted the POSITION or taS-te
shin Of the old Guaranty Trust tailAs
3 F-s- 7,ai-7-- with J. Il Nations for sew
eraI months. 1Ir- Tooley lelt Jne
GUARANTY bank 10 form the National
Eaulz OF Commerce, being the caShieE
In that house until the consollaallcll
OF that bank with the First National
bank In July. 1910 He has peeu q
--i~e president and director Of the
T7frst National since that time lie
r,-7- one Of the organizers OF the t-FSl
Ef0rteaEe company six years ago
lIcNnry Tells Of Tooley,s Work
CommentinE on the resignation OF
1fr. Tooley. James g. 4lcNaLl' S--ell
man OF the board OF directors OF the
First Mortgage company salc-
THE business OF the First Mort
zage company has prospereo anu
.--0vu under M TOOleES manage
Deur revoud any expectations enter
tanned ar the time the company was
ORGANIZED. The company was OF
-auized I'm August. 1911. star llns "l1
with a capital Of 100000 ana q sur
increased TO 100000 capital anu
-.-Tre books OF the First Mortgage
company show that II has l-nlltu
total MORTGAGES amounting % $50 7'--
$50 divided into nearly 20O0 individual
loans Of which over 1900 have been
made against FL Paso homes Ihe
rounauv during this period has un-
dOuhtedly been the most lnlpoE zane
single factor in financing the building
Of homes in this city
Mr TOoleEs experience IN lnel-
chandisiuE and in banking, after leaF-
ing ClarksburE. No. was gained at
Victoria. RefuEio and Eoalum, Texas.
before he onened his own bank at
NoultOu. Texas. once he was the
Youngest bank cashier in Missouri
W. r. Ward, New Manager.
W F. ward. secretary Of the First
MORTGAGE company. who has been
closely associated with Mr.. ToOley In
the management Of the company for
the past five years, has been ap-
pointed by the board Of directors 70
the position Of manager, in which
capacity he viii have the active CO.
operation Of the officers OF the com
pany-
The officers and directors OF the
First MORTGAGE company are Joshua
S. Reynolds, president; vice presidents
James g. 1fcNary. Vim. L Tooley,
T. 7 lTundy- secretary. ". E Ward,
-reas urer. 2. ". Kavser. directors
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