The Vidette-Messenger Centennial EditionThe 1936 special edition celebrating Porter County's centennial year . . . .

The following article has been transcribed from the August 18, 1936, issue of The Vidette-Messenger, published in Valparaiso, Indiana. This particular special edition focuses on Porter County's centennial celebration and contains a 94-page compendium of Porter County history up to that time.

Return to the index of articles from The Vidette-Messenger's Porter County Centennial special edition.

Source: The Vidette-Messenger, Valparaiso, Porter County, Indiana; August 18, 1936; Volume 10, Section 4, Page 16.



Nearly fifty years ago, or to be exact in 1887, a group of public spirited citizens, feeling the need of mean of financing the construction and purchase of homes in Valparaiso, organized the Valparaiso Building, Loan-Fund and Savings Association, the first savings and loan association in northwestern Indiana. The first officers were A. D. Bartholomew, president; William H. Banta, vice-president; John S. Louderback, treasurer; Hon. Mark L. DeMotte, attorney, and George W. Carr, secretary. Besides these gentlemen other directors were Charles W. Dickover, E. Zimmerman, Sr., John E. Roessler, Stephen P. Corboy, George A. Dodge, Michael Barry and John W. Stratton. Presidents of the association have been Alvin D. Bartholomew, M. L. McClelland, Andrew P. Letherman, Charles W. Dickover, Florace N. Renner, John E. Roessler, Jesse A. Wise, Byron H. Kinne and Mark L. Dickover. Secretaries have been George W. Carr, Edwin W. Rice, S. Ross Martin, Mark L. Dickover, Guy F. Stinchfield, E. Leslie Loomis, and Earl V. Smith. Some of the directors have long time service records, at least four having served over thirty years. S. P. Corboy is the only one of the original directors now on the board. He has a record of continuous service of forty-nine years, a truly remarkable record. The present directors are: Alfred Bannister, Mark L. Dickover, James L. Meagher, M. R. Lowenstine, Earl V. Smith, Byron H. Kinne, George R. Jones, M. R. Rockwell, S. P. Corboy and Thomas Benton. The directors and those that preceded them took their office seriously and have made a success of building loan in Valparaiso. Feb. 4, 1932 "Striking Thoughts" had this to say of this association: "Can you think of any investment that was as good at the end of 1931 as it was at the beginning of that year? The building and loan was. It was 99.95 per cent safe. The Valparaiso association is outstanding for two reasons . . . conservative management and freedom from boom valuations." That statement was true in 1931 and it was true in 1932, 1933, 1934, 1935 and 1936. The association was accepted as the first member of the Federal Home Loan Bank of Indianapolis, it received Federal charter No. 74 and its insurance certificate is No. 96. It was accepted for all three of these without delay or trouble and on a 100 per cent basis. All investments in the association are insured up to $5,000 and loans are being made on the latest direct reduction plan.

Article transcribed by Steven R. Shook


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