The Portal to Texas History has McMurray College Totem yearbooks available online.
There are a few notes to add to the story of McMurray. Firstly the school was created in 1923 - it is quite impressive that the school not only fielded a football team in it's first year, but also published a yearbook for that year as well.
Also of note are these yearbooks' heavy reliance on native American imagery throughout the school's own history and traditions. McMurray's teams were named the Indians up until 2006 when the NCAA demanded that teams with Native American mascots change their names.
From awading the honor of wearing the "Indian Head" to football letter-men to calling the J-V team "The Papooses", McMurray layed the indian stuff on thickly. Even as recently as 2005 the indian imagery was flat-out over the top.
You can read how McMurray responded to the NCAA's house cleaning on their Wikipedia site.
The scans are fine, with some years/pages turning out better than others, but I will add the one usability note that the Texas Portal Yearbooks are sometimes hard to peruse. I suggest clicking the "All Pages" button in the middle of the right sidebar.
Another good yearbook: The McMurray College Totem.