It was founded in Cooper by Kentucky native William L. Mayo, who served as its president from its foundation until his death in 1917, and moved to Commerce after its original campus burned down in 1894.

[2][5] Mayo vowed that ETNC would be "a first-class private college, based on Normal principles", although at the outset it was a modest endeavor: the original campus consisted of a single, two-story frame building.

[2][7][8][9] Due to the fire, the lack of railroad service in Cooper, his fairly poor personal financial situation, and a disturbing public execution that occurred near the college in 1894,[6][10] Mayo looked to move ETNC to whichever community made him the best offer, ultimately selecting Commerce after it promised him land and $20,000.

[9] ETNC resumed operation in Commerce in September 1894 with just 35 students in a small rented store, although shortly thereafter a two-story classroom and administration building known as College Hall, as well as two dormitories were built.

[18] After a battle of words between the two college presidents in local newspaper columns, on August 24, 1896, Bridges drove into Commerce in his buggy to confront Mayo, first asking him to sign a statement retracting his written claims.

[21] ETNC's early success also attracted the attention of other communities in North Texas, and in 1904 Denison attempted to entice Mayo to relocate the college there for a considerable amount of financial aid.

[22] Whether or not Mayo seriously considered the offer is unknown, but he was able to use it as leverage to persuade Commerce to give the college $30,000 over the next three years for the promise that it would remain, money that was mostly used to renovate and expand ETNC's physical plant.

[30] In 1900, ETNC offered courses in nine subjects (mathematics, philosophy, science, and six languages: English, French, German, Greek, Latin, and Spanish), and its library contained approximately 3,500 volumes.

[31] Each day of classes began with an optional 50-minute "morning chapel" session, which featured both spiritual and (more often) secular speakers, oftentimes Mayo himself giving a motivational lecture.

[6] Despite significant opposition, the 35th Texas Legislature voted to buy the college and the board of regents ultimately committed to pay Mayo $80,000 for the school, in comparison to the $170,000 it was estimated to be worth at the time.

[6][36] On March 14, 1917, a telegram arrived in Commerce confirming that the House of Representatives in Austin had passed the requisite bill to ensure the state purchase of ETNC by a margin of 79 to 41, and Mayo died of a sudden heart attack.