 Though the storm stalled economic development and the city of Houston developed as the region 's principal metropolis , Galveston economic leaders recognized the need to diversify from the traditional port @-@ related industries . In 1905 William Lewis Moody , Jr. and Isaac H. Kempner , members of two of Galveston 's leading families , founded the American National Insurance Company . Two years later , Moody established the City National Bank , which would later become the Moody National Bank . 
 Though the storm stalled economic development and the city of Houston developed as the region <a href='null_genetive' title='1'><mark>'s</mark></a>principal metropolis , Galveston economic leaders recognized the need to diversify from the traditional port @-@ related industries . In 1905 William Lewis Moody , Jr. and Isaac H. Kempner , members of two of Galveston <a href='null_genetive' title='2'><mark>'s</mark></a>leading families , founded the American National Insurance Company . Two years later , Moody established the City National Bank , which would later become the Moody National Bank . 
Though the storm stalled economic development and da city of Houston developed as the region  principal metropolis , Galveston economic leaders recognized the gotta diversify from the traditional port @-@ related industries . In 1905 William Lewis Moody , Jr. and Isaac H. Kempner , members of 2 of Galveston  leading families , founded the American National Insurance Company . Two years later , Moody established the City National Bank , which would later become tdaMoody National Bank .