William M McDonald

William M. McDonald , better known as "Gooseneck Bill " this 75-year old negro is the undoubted leader of his race in Fort Worth and all the satellities bow when they enter his office of The Fraternal Bank & Trust Company. McDonald, once chief stockholder of the bank has sold all but 100 shares to the Grand Lodge of the Free and Accepted Masons and the Grand Court of the Heroines of Jerico but still retains the presidency. McDonald was born a slave June 22, 1862 at Terrell, Texas. He early learned the ways of the white man and soon saw the best way to overcome the Southern prejudice against his race was through the power of money. He had various business experiences and his funds grew at Terrell and in the late '80's he entered politics and his influence began to spread on the Republican side. When the late E.H.R. Green took over the Texas Midland Railroad from his mother the famed Hetty Green , McDonald became his chief political advisor. Green became the Republican power in the state and McDonald was the chief patronage dispenser. He earned his nick name of "Gooseneck Bill " because of his skinny neck and large head. He claims to have made between $300,000 and $400,000 rake off from this but when Hetty Green died he lost much of his power as her son left for New York to manage the estate. The Negro was called East in 1936 as a witness for the State of Texas and the widow of E.H.R. Green in an effort to establish the residency of the Colonel lay in Texas. He came to Fort Worth and established a drug store and dabbled in real estate in the Negro sections of the city. He started the bank in 1912 while a high officer in the Negro Masonic orders. It was the depositary of practically all of the important Negro lodges as well as the Masons. Officers of some of the lodges soon made demands for personal loans that McDonald thought unreasonable and through Lodge politics all withdrew but the Masons. McDonald gained in prestige .... The peak was reached in 1928 when the bank had more than 1,000 depositors and deposits of more than $800,000. With the Banking acts of 1933 and 1935 it became a private association and the number of depositors was cut in half but assets were still above half a million dollars. McDonald was known for his honesty and has many letters from both State and National Bank Examiners. One incident alone made him more powerful. The Texas National Bank failed in 1930 and more than $209,000 of the McDonald bank's funds were deposited there. McDonald did not wait but restored all personally saying "It was my fault the funds were there. He has constantly lectured his race to observe the laws of the land and has helped many of them. Today at 75 with both his wife and son dead he seems to be befogged by his money and the best way to use it. He is one of the largest contributors to negro charities beside his private work along this line about which he is reticant.