Texas couple enables United Methodist Men to burn mortgage on Nashville building
A World War II veteran and a life-long Methodist give $500,000
Ed and Gwen Cole
NASHVILLE, Tenn.–– A white sheet of canvas covered the side of a one-story building on famed Music Row in Nashville.
During a Sept. 24 dedication service, the canvas was pulled down to reveal a sign saying “Ed and Gwen Cole Center ––The General Commission on United Methodist Men.”
South Georgia Area Bishop James King, president of the commission, presided over the 30-minute service which included the burning of a $600,000 mortgage.
The event was largely the result of a $500,000 gift from Ed and Gwen Cole, a Nacogdoches, Texas, couple who owned companies that rented equipment to oil drilling companies.
NASHVILLE, Tenn.–– A white sheet of canvas covered the side of a one-story building on famed Music Row in Nashville.
During a Sept. 24 dedication service, the canvas was pulled down to reveal a sign saying “Ed and Gwen Cole Center ––The General Commission on United Methodist Men.”
South Georgia Area Bishop James King, president of the commission, presided over the 30-minute service which included the burning of a $600,000 mortgage.
The event was largely the result of a $500,000 gift from Ed and Gwen Cole, a Nacogdoches, Texas, couple who owned companies that rented equipment to oil drilling companies.
Forty-five participants in the service cheered as the Rev. David Adams, top staff executive of the commission, burned a copy of the six-page mortgage document in a glass bowl.
Money did not come easy
Ed was born in Homer, La., and the family later moved to White Oak, Texas. After high school, Ed attended a welding school. However, before he could complete the courses he was offered a job at a shipyard in Beaumont, Texas. He worked there from November 1941 to January, 1943 when he entered the U.S. Air Force and spent the rest of World War II in England.
After his 1946 discharge from military service, Ed went to work as a salesman for an oil field supply company in Longview, Texas. “Something is always wearing out on oil drills,” said Ed.
In 1953, Ed hung up his salesman hat and put on a tool belt to help his father build homes. In 1957, he returned to work with an oil field equipment rental company. A year later, he jumped at an opportunity to purchase a 20,000-pound devise to prevent oil well blowouts. “I had to sell everything I owned to purchase the equipment,” he said. But after February 1958, Ed became his own boss renting a devise that could prevent oil fires. As time passed, he added more equipment and subsequently formed Cole Rental Tools.
Ed meets Gwen
In 1965, Ed was introduced to Gwen Peck by his aunt who taught Sunday school with Gwen at Noel Methodist Church in Shreveport. They were married a year later when they were both 43 years of age.
Gwen is a graduate of Meadows-Draughon Business College in Shreveport, La. She worked for 26 years for the Home Federal Savings and Loan Association in Shreveport. “I did everything, including dusting the boss’ desk,” said Gwen. She was named a vice president after working there for 20 years.
The couple later formed ECole Rentals and named their 15 nieces and nephews as shareholders. Gwen has five brothers and one sister and the couple now has 92 nieces and nephews. “Some are great, great, great,” said Gwen. All of them are great.”
The couple later joined with Lloyd (Red) McLin to form C&M Rental Tools and by 1992, the couple had sold off all the equipment.
Life-long Methodist
Asked about their church membership, Gwen was quick to say, “I’ve been a Methodist since I was six weeks old.”
Ed participated in Methodist churches and served on church committees, but he didn’t officially become a member until 1978 when the couple moved to Nacogdoches, Texas. Ed has served on the Finance Committee, the Board of Trustees and the Administrative Board. He was also elected steward of First Church. “I don’t know what that is, but I vote on major issues,” said Ed.
Ed says Robert Powell, president of the UM Men Foundation at that time, and Larry Coppock, a staff member of the General Commission on UM Men, presented the proposal to pay off the mortgage of the building.
“I asked them for time to think it over,” said Ed. “We had to do a lot of figuring.” The devoted couple finally decided they could pay the $500,000 balance over a two-year period.
“I called Robert on his cell phone,” said Ed. “After learning he was driving, I asked him to pull to the side of the road. ‘Gwen and I have decided we might be able to do the project you were talking about.’” Ed says he was worried Robert might drive off the side of the road with excitement.
“Ed has always been wise with the way he spends our money,” said Gwen. During their marriage he would frequently suggest that although it would be nice to have a bigger house, the purchase of additional equipment would probably enable them to buy a bigger house sometime in the future.
He was right. He also bought a house for United Methodist Men.
Money did not come easy
Ed was born in Homer, La., and the family later moved to White Oak, Texas. After high school, Ed attended a welding school. However, before he could complete the courses he was offered a job at a shipyard in Beaumont, Texas. He worked there from November 1941 to January, 1943 when he entered the U.S. Air Force and spent the rest of World War II in England.
After his 1946 discharge from military service, Ed went to work as a salesman for an oil field supply company in Longview, Texas. “Something is always wearing out on oil drills,” said Ed.
In 1953, Ed hung up his salesman hat and put on a tool belt to help his father build homes. In 1957, he returned to work with an oil field equipment rental company. A year later, he jumped at an opportunity to purchase a 20,000-pound devise to prevent oil well blowouts. “I had to sell everything I owned to purchase the equipment,” he said. But after February 1958, Ed became his own boss renting a devise that could prevent oil fires. As time passed, he added more equipment and subsequently formed Cole Rental Tools.
Ed meets Gwen
In 1965, Ed was introduced to Gwen Peck by his aunt who taught Sunday school with Gwen at Noel Methodist Church in Shreveport. They were married a year later when they were both 43 years of age.
Gwen is a graduate of Meadows-Draughon Business College in Shreveport, La. She worked for 26 years for the Home Federal Savings and Loan Association in Shreveport. “I did everything, including dusting the boss’ desk,” said Gwen. She was named a vice president after working there for 20 years.
The couple later formed ECole Rentals and named their 15 nieces and nephews as shareholders. Gwen has five brothers and one sister and the couple now has 92 nieces and nephews. “Some are great, great, great,” said Gwen. All of them are great.”
The couple later joined with Lloyd (Red) McLin to form C&M Rental Tools and by 1992, the couple had sold off all the equipment.
Life-long Methodist
Asked about their church membership, Gwen was quick to say, “I’ve been a Methodist since I was six weeks old.”
Ed participated in Methodist churches and served on church committees, but he didn’t officially become a member until 1978 when the couple moved to Nacogdoches, Texas. Ed has served on the Finance Committee, the Board of Trustees and the Administrative Board. He was also elected steward of First Church. “I don’t know what that is, but I vote on major issues,” said Ed.
Ed says Robert Powell, president of the UM Men Foundation at that time, and Larry Coppock, a staff member of the General Commission on UM Men, presented the proposal to pay off the mortgage of the building.
“I asked them for time to think it over,” said Ed. “We had to do a lot of figuring.” The devoted couple finally decided they could pay the $500,000 balance over a two-year period.
“I called Robert on his cell phone,” said Ed. “After learning he was driving, I asked him to pull to the side of the road. ‘Gwen and I have decided we might be able to do the project you were talking about.’” Ed says he was worried Robert might drive off the side of the road with excitement.
“Ed has always been wise with the way he spends our money,” said Gwen. During their marriage he would frequently suggest that although it would be nice to have a bigger house, the purchase of additional equipment would probably enable them to buy a bigger house sometime in the future.
He was right. He also bought a house for United Methodist Men.
posted by TN Conference UMC @ 11:41 AM
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