After working for ten years with the Producers Oil Company, Bill Lee resigned and joined the Texas Company (Texaco), which assigned him to the Sour Lake production division. When T. P. Lee left the Texas Company and vacated the position of general superintendent of production, Bill thought that he might be promoted to that spot, but another got the job. Meanwhile, he still sought another area of employment, until finally, he got his wish.
With the formation of the Yount-Lee Oil Company, T. P. Lee gave him a block of stock in the new venture, and this afforded him the opportunity to break away from the oil business.
Subsequently, he organized and became president of the Citizens National Bank of Sour Lake, Texas which became one of the most prominent financial institutions in Hardin County. After moving from Sour Lake to Houston, Lee devoted himself to investments.
3, A. F. and A. M. of Parkersburg, West Virginia, and the Shrine and Knights Templar. Bill Lee lived to be sixty-nine years old, and at the time of his death on October 28, 1936, brought on by bronchial pneumonia, he made his residence at 4218 Montrose Boulevard in Houston.
One of Bill"s daughters, Faustine, married Glenn Herbert McCarthy, popularly known as "Diamond Glenn", a legendary wildcatter who built the world famous Shamrock Hotel in Houston.
Another of Bill Lee"s children, William Howard, married into Hollywood royalty not once but twice: first to actress Hedy Lamarr from December 1953 until the couple divorced in 1960. And then to Gene Tierney in 1960.
He became a distinguished financier, a member of the River Oaks Country Club, Houston Club, Yacht Club, Mount Olive Lodge Number.
He was very affectionate toward all family members, but he was closer to T. P. Lee than all the rest.