Indianapolis Times, Indianapolis, Marion County, 5 April 1940 — Page 11
EE a aE : . hg 1 . 11.
> FIGHT WIDENING Indiana Notional Bank, 57th in i S.
- i MORGAN URGES ne Ch J ier OF TALBOT AVE, Jo Mark 75 Years of Service fo Community Tomorrow
Principal M. D. Roberts of Van TRADE COURSES There’ll Be No antares as | E |
Buren High School knows how | to deal with vandals. | : i}. . : . Business Goes On | |Stresses Need of Vocational ‘As Usual. Training for High
When numerals were painted By LOWELL B. NUSSBA ‘School Pupils.
on the front columns of tne school building and numerous windows broken, he called a meeting of the jundors and seniors. cbt aal it Three-quarters of a centu + | Times Special service to the community mes Specia : celebrated tomorrow by the In A, ApH 5. The Sicogss National Bank on the occasion of : ool shou measur its + 75th birthday. 3 en by the success of its graduates in The anniversary finds the bank! factories, just as much as in cole The residents charged they hadi, a commanding ition among| lege; DeWitt 8. Morgan, Indianap{not been consulted when the Board |ihe nation’s wo Mig financial ne olis schools superintendent, said in last week approved a request for|gtitutions. Not only is it the largest an address here today. the widening made by 12 business|pank in the state, but a recent na- Speaking before the North Cenproperty owners. The widening of tional survey revealed it as the 57th. tral Association of Colleges and Sec-
Principal Had °
Home Owners Demand City Rescind Approval of Project.
Nine Talbot Ave. property owners appeared before the Works Board today to. demand that the ‘Board rescind its action in approving the widening of the thoroughfare between 21st and 22d Sts.
“Unless those numerals are removed from the building,” he said, “all class plays and special activities are off,” | :
Shortly afterward, four boys
began to remove the paint. With four others, they were given a | stern lecture by the Grant County probation officer. | °
THE TIMES. G RESULTS.
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fhe street from 27 to 36 feet was requested by the businessmen on
on both sides of Talbot Ave. and thereby increase the volume of business done in the vicinity. ; Works Board membefts took the remonstrance under advisement and said they would rule Wednesday on issuance of the widening permit. Howeve?, the Board already has approved the proposed improvement by resolution, although the permit has not been issued officially.
Objections Outlined
Mrs. Lena H. Wood, owning property at 2124-2126 and at 2137 N. Talbot Ave., said that if the street was widened utility poles would be set back flush against the sidewalks and would “ruin” the appearance of her property. She was joined in her remonstrance by Miss Nelle Jaquith, 2168 N. Talbot Ave.; Mrs. Ina Hills, 2129 N. Talbot Ave.; Mrs. Pearl A. Bunning, 2162 N. Talbot Ave., and five others. > The remonstrators added that trees which shade their homes in the summer would be cut down and the improvement would have the effect of deteriorating the value of their residences.
Agree to Pay Cost
The widening. was requested in conjunction with the reconstruction of the street between 16th and 22d Sts. Property owners making the request agreed to pay the entire cost of the widening which would be in addition to their assessments for the street reconstruction. Works Board members said that since the City is not making an assessment on the widening, it can go ahead without the consent of property owners. "
$200 NECKLACE STOLEN Burglars broke into the h Dr. James O, Ritchey, 43 WW) St., and obtained $95 and. a pearl necklace: valued at $200 last night. Dr. Ritchey said he and his wife were at a neighbor’s home for dinner and returned to find a win-
e of
dow in the rear of the house broken.
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d|outstanding financiers,
largest in the United States.
From a personnel of only a dozen
its early days it has grown until today it has more than 250 employees. ?
While it is only 75 years old as a |
national bank, the Indiana National's service and that of its direct
predecessors goes back more thanj -
a century to the days when Indiana was a lusty infant. In 1834, when pioneer settlements were few and far between, and the State was less than two decades old, a special act of the Legislature chartered the State Bank of Indi-
ana. This institution, one of the earlest and most widely known banks of the Middle West in {its day, played an important role in the early development of Indianapolis and the state.
Withstood Panic of ’57
Its charter expired in 1856 and it was. succeeded by the Bank of the State of Indiana. This second predecessor of the Indiana National, in order to extend its service, established a series of branches in various cities from Madison to Ft. Wayne. In the panic of |1857, the Bank of the State of Indiana was one of only three banks| in the United States able to continue specie payments. During the Civil War, the idea of national banks was conceived, anc the Indiana National Bank was organized by directors of the al branch of the Bank of the State of Indiana. The new national bank opened its doors April 6, 1865, with Oliver 'Tousey as its first president and David M. Taylor as cashier. The directors included Oliver and George Tousey, William Coughlen, George Merritt, Omer Tousey, |Jacob P. Dunn and Mr. Taylor. Volney T. Malott, one of the City’s bought a controlling interest in the bank in 1882. Mr. Malott, who began his banking career as a boy of 17, guided the Indiana National 30 years as president. The Capital National Bank was consolidated with the Indiana National in 1912, in the ensuing reorgahization of the staff, Mr. Malott became chairman of the board, a post he held until his death in 1922. Frank D. Stalnaker, who had been president of the Capital National, succeeded Mr. Malott as president of the Indiana National. When Mr. Stalnaker died, in 1932, Arthur V. Brown, then and still president of the Union Trust Co.,
“
assumed the Indiana National's presidency. Mr. Brown, besides holding the presidency, is the Indiana National’s oldest director in point of service, having served on the Board continuously since 1904. Before assuming the presidency of the Union Trust Co., in 1916, he was a practicing attorney. “The bank, since 1897, has been in its present building, which closely resembles the Bank of England’s general appearance. A year and a half earlier its former building, the site of the present Kresge Building, had been destroyed by fire. The bank has enjoyed a consistent growth, much of it during Mr. Brown's presidency. Back in 1865, it listed assets of $853,069.26. In 1897, when its present building was completed, total resources were $10,000,000, and by 1926 resources had grown to $25,574,494. ; : * Shortly after Mr. Brown assumed the presidency :in 1932, the bank showed deposits of $35,845,030, capital, surplus and undivided profilts of $4,574,000, and total resources of $42,490,961.
Resources Total $155,531,306
Its statement on March 26 this year listed deposits of $142,528,373, capital, surplus and undivided profits of $11,492,036, and total resources of $155,531,306. ! No special ceremony is planned at the birthday party tomorrow. It will be business, as usual, except for welcome interruptions to greet friends. But the occasion will bring back vivid memories of the bank's early
days to two veteran employees, each
ot MOSKINS
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Three veteran members of the Indiana National Bank servance of the bank’s 75th birthday tomorrow. Vice President Gwynn F. Patterson and William L. Hereth, safely deposit department manager.
|THEATER LOTTERY
Vig
with more than a half century of service. They are William L. Hereth, man-~ ager of the safety deposit department, who began his career with the bank 57 years ago—on Jan. 3, 1883, and Edward D. Moore, vice president, who began as a bookkeeper on Dec. 22, 1884. They are believed to be the oldest bank employees in the City in point of service. ’ Besides Mr. Brown and Mr. Moore, present officers of the bank are Wilson Mothershead, assistant to the president; Gwynn F. Patterson, William P. Flynn, Harry R. Fuller, Robert B. Malloch, Clarence T. Brady, C. Merle Brockway and Edward: C. Wischmeier, vice presidents, and Paul C. Buckler, cashier.
Officers Are Listed
Others are Ludwig G. Burck, John W. Keller, Byron D. Bowers, Henry A. Pfafrer, John R. Fletcher, Russell F. Peterson, Carl C. Koepper, Frank W. Durgan and Lee M. Mayer, assistant cashiers, and J. Kurt
Mahrdt; auditor. The directors gre Roy E. Adams, chairman of the board, J. D. Adams Manufacturing Co.; Fred G. Appel, president of Gregory & Appel, Inc.; C. Harvey Bradley, W. J. Holliday & Co. president; Mr. Brown; Volney Malott Brown, dent of the Union Trust Co.; Fermor S. Cannon, Railroadmen’s Federal Savings & Loan| Association president; G. A. Efroymson, Real Silk Hosiery Mills president; Brodehurst Elsey, Indianapolis Glove Co. president; Edgar H. Evans, chairman of the board, Acme-Evans Co.; Mr. Flynn; Jaquelin |S. Holliday, chairman of the board, W. J. Holliday
& Co.’ : Other directors are Will G. Irwin,
C. Krannert, Inland Container Corp. president-treasurer; John J. Madden, John J. Madden Manufacturing Co. president; Mr. Mothershead; Mr. Patterson; Norman A. Perry; Charles S. Raub, Belt Railroad and Stock Yards Co. president; Peter C. Reilly, Republic Creosoting Co. president; Obie J, Smith, O. J. Smith Realty Co. president; Samuel B. Sutphin, Beveridge Paper Co. president; William L. Taylor, attorney, and Russell L. ing Co. president.
ADVANCED FIRST AID COURSE TO BE GIVEN
An advanced Red Cross first aid course, open only to those persons with standard first aid certificates, will begin at 7:30 p. m. Thursday at
Cross Indianapolis Chapter announced today. | The courses will continue for 10 weeks and will be held each Thursday evening for two hours. No enrollment or registration fee will be charged. , The course will be directed by Ivan S. Glidewell, director of first aid and accident prevention for the Indianapolis Chapter.
'[ CHARGE DISMISSED
(Charges of operating a lottery gift enterprise in connection with bank night against George Settos, owner, Orvin Moore, manager, cf the Ohio Theater, .were dismissed yesterday by Municipal Court Judge Charles J. Karabell. Judge Karabell held that there no consideration involved, since patrons could register in the lobby d the State did not chow it was necessary to buy a ticket to participate in the drawings. Mr. Settos and Mr. Feb. 22.
JORGAN NOT AT HOME | TO CENSUS TAKER
Moore were
P.).—John Pulinski, census enumer-
staff talk over old times as they They are (left to right) Vice
x college.
ondary Schools, Dr, Morgan said that the secondary school must be a preparatory for all pupils, not merely for the minority who go to It must prepare equally
| for factory, shop and store, he said.
Times Photo.
President Edward D. Moore,
arrange for ob~
Although’ the cost of vocational education’ is relatively high, “Dr. Morgan said: that it was necessary even in the early years of secondary’ schools. “A large proportion of our pupils will live much more by machines than by any other instrument, and acquaintance with the basic processes in shops and offices is most necessary for those youths,” he said, “There is no greater waste than to have thousands of pupils sitting in school rooms, learning lessons which have no meaning for their lives land no significance to their mental growth. ;
istant to the presi- |}
ite, White Bak- [3
the World War Memorial, the Red i
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|GLEN COVE, N. Y., April 5 (U.|
estate here but did not find the ancier at home. A butler told Mr. Morgan would make an
h appointment for an interview later.
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