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In 1938, Fay and his brother, Ernest Fay (1914–1986), founded Seabrook Shipyard, which built submarine chasers and rescue boats during World War II. After the war, Fay operated various businesses in Texas and Louisiana, including shipbuilding and his Bel Oil Corporation.<ref name=bio/>​

In 1938, Fay and his brother, Ernest Fay (1914–1986), founded Seabrook Shipyard, which built submarine chasers and rescue boats during World War II. After the war, Fay operated various businesses in Texas and Louisiana, including shipbuilding and his Bel Oil Corporation.<ref name=bio/>​

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By 1972, his [[petroleum]] interests included holdings in several states as well as [[Canada]] and [[New Zealand]]. He also had [[real estate]] interests in [[Nicaragua]] and the [[Cayman Island]]s in the [[Caribbean Sea]]. At the time of his death, his business interests had diversified to include ranching, timber, marinas, and [[banking]].​<ref name=bio/>

By 1972, his [[petroleum]] interests included holdings in several states as well as [[Canada]] and [[New Zealand]]. He also had [[real estate]] interests in [[Nicaragua]] and the[Cayman Islands in the [[Caribbean Sea]]. At the time of his death, his business interests had diversified to include ranching, timber, marinas, and [[banking]].​<ref name=bio/>

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By 1960, Fay had become Republican national committeeman and an automatic  member of the [[Republican National Committee]]. At the[1964 [[Republican National Convention]] in [[San Francisco]], [[California]], Fay served on the Credentials Committee.<ref>[[Jack Crichton]], ''The Republican-Democrat Political Campaigns in Texas in 1964,'' self-published, 2004, p. 24.</ref> In 1969, Fay lost his national committeeman's position about the time that the [[attorney]] William Merritt Steger (1920-2004) was elected state party chairman to succeed Peter O'Donnell of [[Dallas]]. Steger had been the unsuccessful Republican [[governor of Texas|gubernatorial]] candidate in 1960 and was later a long-serving U.S. District Court [[judge]] based in [[Tyler, Texas|Tyler]] in Smith County in east Texas.

By 1960, Fay had become Republican national committeeman and an automatic  member of the [[Republican National Committee]]. At the[1964 [[Republican National Convention]] in [[San Francisco]], [[California]], Fay served on the Credentials Committee.<ref>[[Jack Crichton]], ''The Republican-Democrat Political Campaigns in Texas in 1964,'' self-published, 2004, p. 24.</ref> In 1969, Fay lost his national committeeman's position about the time that the [[attorney]] William Merritt Steger (1920-2004) was elected state party chairman to succeed Peter O'Donnell of [[Dallas]]. Steger had been the unsuccessful Republican [[governor of Texas|gubernatorial]] candidate in 1960 and was later a long-serving U.S. District Court [[judge]] based in [[Tyler, Texas|Tyler]] in Smith County in east Texas.

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==Running for Texas land commissioner==​

==Opposing Jerry Sadler for land commissioner==​

In 1962 and 1966, Fay was the unsuccessful Republican nominee for Texas land commissioner. In the latter race he won the endorsement of the [[AFL-CIO]] executive board. He lost both races to popular [[Democratic Party|Democrat]] Gerald Anthony "Jerry" Sadler (1907-1982), who once had [[Governor|gubernatorial]] ambitions. In the 1962 campaign, Fay hailed [[U.S. President]] [[John F. Kennedy]] for signing into law the establishment of the Padre Island National Seashore north of [[Brownsville]].<ref name=bio/>

In 1962 and 1966, Fay was the unsuccessful Republican nominee for Texas land commissioner. In the latter race he won the endorsement of the [[AFL-CIO]] executive board. He lost both races to popular [[Democratic Party|Democrat]] Gerald Anthony "Jerry" Sadler (1907-1982), who once had [[Governor|gubernatorial]] ambitions. In the 1962 campaign, Fay hailed [[U.S. President]] [[John F. Kennedy]] for signing into law the establishment of the Padre Island National Seashore north of [[Brownsville]].<ref name=bio/>

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No Republican was elected land commissioner until 1998, when  David Dewhurst, later the lieutenant governor,  won the position. Dewhurst succeeded long-time Land Commissioner Garry Mauro of  [[Bryan, Texas|Bryan]]  in Brazos County, who had first been elected in 1982.​

No Republican was elected land commissioner until 1998, when  David Dewhurst, later the lieutenant governor,  won the position. Dewhurst succeeded long-time Land Commissioner Garry Mauro of  [[Bryan, Texas|Bryan]]  in Brazos County, who had first been elected in 1982.​

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==Gubernatorial primaries, 1972==​

==Gubernatorial primaries, 1972==​

In 1972, Fay ran against five other candidates for the Republican gubernatorial nomination. He made it into the second primary but lost the nomination to then state Senator [[Henry C. Grover]], also of Houston and a staunch [[conservative]]. Grover was thereafter defeated in the [[general election]] by Democrat [[Dolph Briscoe]]. A third candidate was Ramsey Muñiz, nominee of the since-disbanded Hispanic Raza Unida Party. In the low-turnout runoff election, Grover received 37,842 votes (66.4 percent) to Fay's 19,166 (33.6 percent), according to ''Congressional Quarterly's Guide to U.S. Elections.''

In 1972, Fay ran against five other candidates for the Republican gubernatorial nomination. He made it into the second primary but lost the nomination to then state Senator [[Henry C. Grover]], also of Houston and a staunch [[conservative]]. Grover was thereafter defeated in the [[general election]] by Democrat [[Dolph Briscoe]]. A third candidate was Ramsey Muñiz, nominee of the since-disbanded Hispanic Raza Unida Party. In the low-turnout runoff election, Grover received 37,842 votes (66.4 percent) to Fay's 19,166 (33.6 percent), according to ''Congressional Quarterly's Guide to U.S. Elections.''