In October of 1929, just a month before the stock market crashed, and just a month before the Baker Hotel in Mineral Wells opened, The San Antonio Newspaper ran a full page spread on T.B. Baker, the man who was “the most prominent hotel man in the South.” It’s worth noting that both Conrad Hilton and the Moody family out of Houston (with their National Hotel Company) were also competing with Baker in the race to build their own Texas hotel empires. During the roaring twenties, the oil boom was still carrying the economy forward in a flurry of activity, and men like Baker, Hilton and Moody saw their fortunes well within their reach. But when things got bad in the early thirties, they got very bad. Hilton would later write in his autobiography that he went to mass every morning to pray that he would make it through just one more day.
Several articles suggest that as late as 1931, T.B. Baker was seen entertaining friends at the Savoy Hotel in London, and had taken trips to Paris. But just as quickly as his name had risen to prominence, it seemed to vanish.
T.B. Baker’s world seems to have imploded in March 1933. That month, the Baker Corporation sent a letter to all of their stockholders, telling them that the hotel business had been hard hit and that they would be unable to pay out dividends. Next, the Gunter was peeled off from other Baker Hotels and reorganized into the “Gunter Hotel Company” under different leadership and with the primary goal of paying back and satisfying the largest creditors. But minor stockholders suffered under this plan, and later that year the Baker Corporation was sued. What happened next is still somewhat unclear.
The Gunter Hotel, at least, was handed over to Massachusetts Mutual Life Insurance Company in 1934 to manage it as trustee, until it could be placed back with the Baker Family. A similar situation happened with the Baker Hotel in Dallas after a lengthy court proceeding, in which the hotel was almost sold to the Moody family, but T.B.’s nephew Fenton J. Baker won the suit, was put in charge of the hotel and eventually regained full ownership.
The Baker in Mineral Wells seems to be unique in that it did remain with the Baker family during this time, but was reorganized into the “Resort Hotel Company.”
It is yet unclear about what happened to all of his other hotels and at what point the Baker Corporation may have sold them or relinquished control.
Then, in 1936, Earl M. Baker, T.B.’s other nephew, re-emerged as the buyer of the Bakers’ beloved Gunter Hotel in San Antonio, and took it back from the Life Insurance Company that had held it for the previous two years.
All the while, no mention is ever made of T.B. Baker, who did indeed still live in San Antonio. There are some who say that Earl may have found a way to take the hotels away from him. While more research is needed to find out if that statement is true, there was definitely some contention in the family. T.B.’s unmarried sister Myla (Earl’s aunt) fought a lengthy court battle against Earl from 1942 to 1948 for control of the common stock of the Gunter Hotel, which Earl eventually won.
T.B. seems to have faded into the background after 1933. He lived quietly, simply, in a small white house in South San Antonio until he died in 1972 at age 96 – nearly forty years after the turmoil of the thirties. What did he do for forty years? How does one rebuild a life of simplicity after one of such ambitious success and lavish luxury? Therein lies a story yet untold.