German native Walter Tips (1841-1911) migrated to the United States with his family in 1849 and served in the Confederate Army during the Civil War. In 1872 he and his partners, Williams Clemens and Joseph Faust of New Braunfels, purchased the Austin hardware business of Tips' brother Edward who had died earlier that year. Walter later became sole proprietor. Located on the site of Edward's store, this company building was constructed in 1876-77. Designed by the noted Austin architect Jasper N. Preston, it features Victorian Italiante styling with Gothic details, an ornate cornice, carvings by local stonemasons, and side walls of limestone rubble. Interior cast iron columns on the ground fllor provided a large open commercial area. The third floor included a room for Masonic Lodge meetings and a 400-seat auditorium for use by the library association. Tips later served in the Texas Senate, 1893-96, and in other state government positions. An active civic leader, he also helped found the Austin National Bank. The Walter Tips Company remained here until 1927 and the building later housed other businesses. In 1978 Franklin Savings Association bought the structure and restored it for use as their home office. Recorded Texas Historic Landmark - 1980