Reading 4278-2

TEXT OF READING 4278-2 M ADULT (Banker, Protestant)

Text

Date: 1/6/1926 Sex: M ReadingID: 12050

This Psychic Reading given by Edgar Cayce at his office, 115 West 35th Street, Virginia Beach, Va., this 6th day of January, 1926, in accordance with request made by Mr. J. T. McConnell. Involuntarily given.

[Edgar Cayce; Mrs. Cayce, Conductor; Gladys Davis, Steno.]

Time of Reading First National Bank, 12:05 Noon - Eastern Standard Time. Meridian, Texas.

1. EC: Now we have before us those conditions as surround the financial institution known as First National Bank, Meridian, Texas. This, as we have had before, shows the various conditions that enter in to make this unsatisfactory to many. The changes as are contemplating taking place in the personnel, in the management, in those surrounding this, in many respects will be of aid. The ability to carry through and carry over those that are pressing at the present time, if this can be handled until the new crops are financed, we will find no trouble with the continual financing of the institution, for the conditions as will exist in the coming season throughout the country will be in that way as beneficial, to even small institutions, in farming and grain areas throughout the South and Southwest.

2. As to capital to re-discount papers as are carried in various institutions, this may be had through some of the correspondence of the institution in the East. Why hesitate to call upon those institutions for assistance in that portion of the country, when much has been handled and many favors shown in the years past? Then approach the Chase National for such conditions, see?

3. Then we would give as this: With the change in personnel, with the change in management to some respects, and with the ability to go through until the second week in April and May, we will find this will be a successful institution.

4. We are through with this.

Reports

Reports & Follow-up

R1. 3/14/26 [4278]‘s ltr. to EC:

The … Bank (Letterhead) …, Texas

Dr. Edgar Cayce Virginia Beach, Va.

Dear Dr.:-

No doubt you think I have neglected you - in a sense I have but conditions over which I could not control has placed me in a mood different to that you have seen & known me. I came to … Jan. 1904 began a grocery business. Ran that 2 years SOLD out, in 3 mo. came back put in a small general line of mdse. continued that until March 1st 1918 had massed a small fortune. Went into the Banking business. Ran almost 8 years. Deposits went DOWN DOWN DOWN from 125,000 at the time the Natl. Bank at Morgan failed to 36,000 over a period of 13 months causing me to have to close the Bank on Jan. 15 1926.

The two readings you last gave me indicated DANGER AHEAD. It came on the morning of Jan. 15th ‘26 by order of the Board of Directors we closed. Placed the Bank in the hands of a special Natl. Bank Examiner who held charge 3 weeks. We tried every conceivable way to re-open to form a new Co. to Reorganize but every point was defeated. Finally, I got the 1st Nat. Bank of Valley Mills to take over the assets & pay our debts & depositors 100% which was done in 28 days. HOW IS THAT?

I should have written you sooner but I have been retained by our board and the V.M. Bank to adjust the affairs & collect the notes & sell the real estate. Have not had a chance to write you as I should and want you to not think hard of me. (Lost all except our home)

This rainy sunday morning I am trying to write you from home.

I think of you often. I have a very good position I guess considering everything.

The Valley Mills Bank agreed with us that when they were paid plus expense of adjustments Int. & so on they would return all BALANCE: to the shareholders and I believe I can save something out of the ruins if we can get a couple of good crops.

I do not know whether you have heard of our closing or not. A slow run lasted 13 mo. Decline of $90,000 was too much hard luck. Board stood firm with me.

I do not know whether I’ll ever come back financially speaking or not but I believe I will. I am down hearted in a way. Easily peeved at others whom I know who had to do with my business down fall but am trying to overcome that. Sweet wife poor girl - it breaks her heart. I will try to stage a comeback whether I do or not I don’t know.

I hope you will write me a long letter if you see a future for me.

I love you as dear as if you were a brother. Wish you would come to see us, can’t you!

Love, [4278]

R2. 3/20/26 EC’s ltr. to [4278]:

Mr. [4278] …, Texas

My dear Mr. [4278]

I was mighty glad to have your letter of the 14th, but sorry indeed to know of the happenings there. No, I had not heard anything of the condition until I received your letter, though, as you suggest, the reading had indicated that it was not an unexpected condition, UNLESS someone came to the rescue. I’m certainly sorry to know though of this misfortune, yet I’m sure you realize that you have a very great deal to be thankful for, and I am not in any position to give you advice or to tell you what you should do or should not do; yet I am sure this has been a great satisfaction to you, to insure your depositors against any loss, even at the sacrifice of yours and your wife’s savings, and the greatest satisfaction that can possibly be in any man’s mind and heart is to be able to look every man square in the face and tell him “I’ve treated you white.”

As for your staging a come-back, this I’m sure will never be necessary, for it will be the natural result of your life, your turn of mind, and your disposition, for, carrying the burdens of others, I am sure has been the undoing of your personal savings and holdings, and without this hanging round your neck, as it were, the natural thing will be to accumulate more of this world’s goods. One thing I’m sure that I need not tell you, for I’m sure you have reached that age where you realize there is a great deal more in this world than the satisfaction of just having dollars and cents for someone else to spend, or squabble over, when you have passed on. While money is necessary, and it gives an earthly prestige that perhaps nothing else does, still we are sure that treasure laid up “where moth and rust doth not corrupt” is the greatest asset to old age, and the greatest blessing for the life to come.

Yes, I certainly wish that I could see you and talk with you a while. I know of nothing that would give me any more pleasure than to spend a few days with you. I’m certainly mighty glad that you were able to save your home and that you have the working opportunity of getting things straightened out, and making a basis for future efforts. We know life does not owe a man a living, only owes him the opportunity, and man makes of that what he will or may. It is the same way with the Church. It does not OWE man salvation, but it offers him an OPPORTUNITY to gain salvation! Hence, man should build not on his errors of the past, but of the knowledge he has gained by his experiences, and thereby make failure the stepping stone to success, financially and spiritually, for we know good and bad by experience of comparison.

Well, things have not changed materially with me since I last wrote you. We certainly have a boom on in this place. Whether my coming had anything to do with it or not, I don’t know! I am told it has never been as extensive as it has been since I arrived in town, and there are literally MILLIONS of dollars being spent here in improvements, and I think, as I said to you, this is a wonderful place for a bank. One has been established in the last few months. A building is being erected for another. I certainly wish that you and Mrs. […] were here. You would make a clean-up here in the real estate business! I wish you’d come over here and do it. You could start without a penny, and in four or five years make more than you’ve ever had. A tract of land that sold here in 1914 for 500 sold a few weeks ago for 230,000, and a house and lot is reserved out of that, which is valued at $90,000 now. That gives you an idea of what is going on.

I don’t know whether that you know of this or not. I’m sure you know that I have done my level best to hold a string on Rocky Pasture [[4906] series? and [5628] series?], where our first well was drilled. I have succeeded in getting someone interested in this sufficient to make a drilling contract with Grandma Moore. I will hold some sort of an interest, so, if this SHOULD prove a successful operation, we will yet have SOMETHING out of the efforts that were expended in that direction. Of course it may never mean anything, but I haven’t given up hope. I am in hopes that when these operations begin I will be able to make a trip to Texas, and you know if I ever do, I’ll see you!

Now, Mr. [4278] I hope you won’t let so long a time go by without letting me hear from you, for you know, no matter what the circumstances or conditions are, I’m WITH you and FOR you, and if it’s ever possible for me to be of any help, in any way, you know you only have to suggest same and I’ll be more than glad to try. I’m sure that the failure was hard on Mrs. […] yet I feel as certain that she has the fortitude and ability to put it all aside and the willingness to lend herself in every way to assist you in gaining your desires. Please give her my kindest personal regards. I’m mighty glad to say that all the family are well. My mother and father have both been very ill this winter, but I understand from the last letter that I had that they are both on the improve.

Well, let me hear from you whenever you have the opportunity.

I’m sending you, under separate cover, one of my little booklets. Tell me what you think of it.

With kindest personal regards, always,

Sincerely, Edgar Cayce EC:GD

R3. Newspaper clipping [attached to below letter, Par. R4]:

San Saba Test

SAN SABA, Aug. 14. - Another Rocky Pasture oil test will be made here. J. K. Wilmot of Wichita Falls is building a rig on a location made one-half mile from the Casey [Cayce] test drilled in rocky Pasture here a few years ago. [See [5628] series.]

R4. 8/17/26 [4278]‘s ltr. to EC:

Dr. Edgar Cayce 115 West 35th St. Virginia Beach, Va.

Dear Dr.

Have just noticed paper [See Par. R3 above] San Sabe Rocky Pasture test for oil. Hope they get 70,000 barrels. Don’t WE!

We are well or common (?) Busy as a hunting dog - wish I could see you & talk a week or more -

Crops sorry here again good feed sorry cotton 10 to 20 a (?) to bale is present prospect.

Write me a long letter soon. [4278]

R5. 8/21/26 EC’s ltr. to [4278]:

Dear Mr. [4278] -

Certainly glad to have your note of the 17th, for I had been wondering what i the world had become of you. I had a letter and gave a reading for your brother in … a few weeks ago - had his report yesterday. [See 4279-1.] I wish you would tell him, please, if he has any trouble getting his prescription prepared there, that if he would send to Sellers Drug Company, 4th avenue & 20th St., Birmingham, Ala., they would prepare it for him and send it to him. It’s necessary, of course, that he send the whole reading, for the State, of course, keeps a check on all readings and prescriptions that are sent to this source - but they would fix it up for him. No, I have no connection whatever with the drug store - wish I did - trying my best now to arrange things so that when prescriptions are given we will be able to prepare them here, under the supervision, of course, of a physician that would have charge of the work, also of preparing whatever prescriptions that may be given in readings for people anywhere in the country.

I note with a great deal of interest the little clipping you had attached [See Par. R3 above]. They haven’t Willmott’s name spelled correctly, nor his initial correct - but I’ve told you all along I was going to work it, some way or other, to get that well drilled, and I believe if Willmott starts he’ll shut his eyes and just go straight on until he gets to twenty-six hundred anyway, and you know I’m hoping that he gets a good one.

They are drilling too on the block adjoining the acreage we have in Florida. They down to six hundred and seventy-five feet, with a show of oil - setting casing. They don’t expect to get the big production though under about eighteen hundred. I am in hopes that I’ll be able to arrange a trip to Florida, to see about the conditions there, for I believe that our interests are such that they are worth looking after, at least. I’ve got some connections with a man who owns thirty-two thousand acres in fee adjoining the land that we have the lease on. I want to see what can be done, if anything.

Yes, we are keeping mighty busy. Our work here has progressed as fast as we could ask it. Our appointments now run up into October - that’s two every day except Sunday from now until then. The contributions haven’t been as big as they might have been, but we are living some way. I am hoping that something will happen, or that I can get enough interest from those I have tried to help in the last twenty-five years to start the work on a hospital basis in the next few months. It isn’t that we have secured so much local interest as yet (though that’s on the increase also), but apparently those who have known me or known of me the longest are just beginning to realize the assistance that it is possible for them to get. I’ve had more requests for readings in the last few months from my home town than I had during all the time I ever lived there. I have had more in the last three weeks from Selma, where I lived twelve years, than I did the whole twelve years I lived there. So, possibly the work speaks for itself.

I certainly am in hopes that your brother follows out the suggestions that were given for him.

Well, Mr. [4278] write me the news, and what’s going on around … You all have certainly had some hot political fight, from the newspaper reports - peculiarly enough, we have had several requests from Austin in the last few weeks, and some from people that are associated in the State department. They have sent us some of the papers and told me something about what was going on. You know I feel a great interest in the affairs of the State, for I think I have some of the best friends I have in the world in the State - some people I love as well as I do my own family.

Give my regards to all the friends who ever ask about me. I certainly do wish that I could see you and talk with you, and I’m hoping yet that I will have the opportunity to get there before the year is out.

Had a letter from our friend [4543] sometime ago. [4543] did me a dirty trick - sent me a check and it was returned.

Well, let us hear from you.

With kindest personal regards to you and Mrs. Mc,

Sincerely, Edgar Cayce EC:GD

R6. 4/9/31 Mr. [4278] wrote that he had for some time been a travelling salesman for a rubber company, that he was still paying back his share of 100% to depositors - still owed around a thousand dollars.

Background

Background

B1. See 4278-1 on 12/2/25.

Mentioned Entities

Texas, Virginia Beach, Florida, Alabama, Gertrude Cayce, Gladys Davis, Selma Alabama

Source: The Complete Edgar Cayce Readings, A.R.E. CD-ROM (2006). Reading 4278-2, ReadingID 12050.