Quincy, Florida – April 11, 2021 – Written by Jim
Quincy, Florida is like many small towns in America; tidy, tree-lined streets named after our nation’s founding fathers, with homes surrounding a central business district. Quincy is a supplier of goods for the farms in this section of Florida’s Panhandle, as US-90 runs right through the middle of it. Other than the over abundance of grand houses in town, you would be hard-pressed to find anything unusual here. Looks can be deceiving…
During the Great Depression, the local banker made a keen observation that changed the course of Quincy’s fortunes forever.
That banker’s name was Mark Welch (Pat) Munroe. He noticed that people were spending their last nickel to buy an ice-cold Coca-Cola. He knew by that fact that the company most likely had staying power. He also realized that Coke’s stock was undervalued, as they had been experiencing issues with their sugar suppliers. What had started out as a $40 a share stock in 1919, Coca-Cola was selling at $19 in the early 1930’s. The smart investor he was, Mr. Munroe bought stock in Coke. The wise businessman he was, he also told his customers to do the same, offering loans to help them do so. His advice to them was to hold onto the stock and use only the dividends.
It turns out that he was correct. Coca-Cola stock consistantly rose, making Quincy, Florida the wealthiest town (per-capita) in the nation.
The Quincy State Bank also did very well for itself, never closing it’s doors during the Great Depression. Munroe family lore states that when federal agents came to arrest Mr. Munroe for keeping the bank open during a federally-imposed bank holiday, they were unable to find the Pat Munroe that was listed on the arrest warrant. Remember…that was only a nickname. 🙂 The bank is now part of Capital City Bank.
As a result of Mr. Munroe’s observations, Quincy eventually was home to sixty-seven Coca-Cola millionaires. Many of their descendants are still reaping the benefits of his foresight. The town not only weathered the Great Depression, but every recession and crop loss since.
Mark Welch Munroe and his wife lived at this stately home on US-90 in Quincy. It was donated by the family to the City of Quincy and is now called Quincy Garden Center, a local wedding and events center.
We located where he is buried on Find-a-Grave and visited his final resting place. The inscription on his stone is fitting and true. It reads: The influence of his personality was so great and his advice so widely sought, that he seemed an institution in the community. Hardly subject to removal by death. Who could ask for a finer legacy than that?
So next time you buzz by Quincy, Florida on I-10, turn in for a bit and have a Coke. It is the ‘pause that refreshes’, after all. The people of Quincy will thank you.
As you can probably tell, the exploRVistas caravan is on the move! Stay tuned as we uncover more of America’s cool stories. Until next time, safe and happy travels to all!