The Daily Banner, Greencastle, Putnam County, 1 August 1964 — Page 3

THE DAILY BANNER

GREENCASTLE, INDIANA

SATURDAY, AUGUST 1, 1964 Page 3

6th in a series of Salutes to our neighboring communities Published as a public service by The Daily Banner:

COATESVILLE INDIANA

Coate.sville is believed to have been founded in 1850 by Quaker settlers from Milton, Indiana. The town was established along the railroad right-of-way and was first known as West Milton. Soon after the initial founding, three men, Mr. Edwards, Mr. Newman and Mr. Coates, laid out the town in its present form. The name was changed to Coatesville after the aforementioned Mr. Coates. Coatesville became incorporated in 1909. Coatesville residents proudly point out that every street, with the exception of a newly completed one, is paved, and nearly every alley.

The Coatesville Herald had been a part of Coatesville for 52 years until it ceased to be a publication on December 28, 1961. Harmon Hathaway, editor, publisher, and owner of the little weekly, took over the paper at the age of 19 when

his father retired. The paper was first printed in 1910 as a weekly and boasted four, six column pages. It increased to seven columns in 1912 and increased again to eight columns in 1945. At the time of termination the circulation had over 1000 subscrib-

ers.

The First National Bank of Coatesville was originated in 1902. It became a national bank in 1906-07. The president of the bank, Jack Gambold, boasts a bank statement of $3.5 million. It is one of the finest banks of its kind in Indiana.

Coate.sville first received electric lights in 1912. Such was the success of the venture that many small towns used Coatesville as a model for their electric system. The Coatesville Light and Power Company purchases the electricity from the Public Service Company and re-sells it to the subscribers. The profit realized from this serves to pay for the town s expenses and the salaries of the town employees.

The tornado that ripped through the business district of Coatesville on March 26, 1948, left 14 persons dead, 80 pei* sons hospitalized, and more than $500,000 in property damage. Half of the business district was destroyed. Paper* from Coatesville business establishments were found, ironically enough, in the town of Windfall, 60 mile* away.

The Coatesville Telephone System is the subject of widespread controversy. Several years ago a meeting of the stockholders was held and it was decided that the present system would be sold. The stockholders voted to sell to an out of county company when the move was blocked by a second telephone concern. Legalities, and a Public Service of Indiana decision is all that is holding back the switch-over to a dial system. Meanwhile the subscribers must contend with the outmoded “crank” telephones.

The Coatesville Elevator is perhaps the most successful business enterprise in the Coatesville community. “Woody” Darnell, owner of the business, states that his elevator has a storage capacity of 190,000 bushels. The estimated total grain yield per year is 2,000.000 bushels. The firm was first started as a continuation of an old flour mill. The elevator was totally destroyed in the 1948 tornado. It is reputed to be the largest elevator in an area including Indianapolis and Terre Haute.

I\ TWO WEEKS:

Tillnuire will he

ihe seventh in this series on August 14th