A Family Heritage Endures At Whiting
Item
Title
A Family Heritage Endures At Whiting
Creator
Hoosier Banker
Date
June 1970
Identifier
SN.01.279
Subject
Christoff Schrage, Henry Schrage, Walter Schrage Sr., Walter Schrage Jr., Community, 75th Anniversary
Original Format
paper
Text
Walter Schrage found his office in the First Bank of Whiting, a room without walls or doors, and silently thanked God for giving his great grandfather, Christof, the wisdom to migrate from Germany to Chicago in 1840.
Yes, April 21, 1970, meant 75 years in the banking business for the Schrage family.
Christof and his son, Henry, who was 10 in 1854, invested in land in the vicinity of Whiting. The year 1863 shows other land investments, and 1868 shows Henry Schrage establishing the first store in Whiting – stocked for a pioneer community.
Walter Schrage knew this was possible because Grandpa Henry made a successful march and return with the Union Army and Sherman on the “March to the Sea”. It was after his return to Whiting in 1868 that Whiting’s first trading post was established.
In 1871 Henry Schrage became Whiting’s first postmaster with a post office in his own store.
Then things began to happen – Standard Oil had the same vision as the Schrage family for the area that was to become known as Whiting, and in 1889 they purchased some of Schrage’s land.
This money helped start the Bank of Whiting in 1895, the year that Whiting was incorporated as a town.
By 1903 Whiting was a city, and 1911 found the Schrages erecting and settling in a new bank building at 1500 199th street.
Henry Schrage never became Mayor of Whiting although he served as a councilman for many years.
However, Grandpa Henry died at the age of 88 in 1932 with the satisfaction of knowing his son Walter had been Whiting’s Mayor from 1914 to 1930.
It was in 1917 that Walter, Sr. became president of his father’s bank that had just received its incorporation papers and an Indiana state bank charter. Walter Schrage, Sr. was joined by his son Walter, Jr., in 1933 as a clerk.
As Walter looked about in his room without walls or doors, he felt he had met his responsibilities – it was after the death of his father in 1941 that he became president. The bank building had been beautifully remodeled – the name changed to First Bank of Whiting and a branch had been opened in Highland at Route 41 and 45th Street.
Yes, in its third generation of Schrages the total resources were almost $30,000,000, an impressive contrast to the first day’s deposits of $5,698. And it was just as easy to do business with the “Likable Wally” – as it was with Grandpa Henry 75 years previously.
April 15 to 21 was open house at The First Bank of Whiting. Refreshments – cake, coffee, punch – free gifts and a grand prize of a 75-point diamond were offered to everyone.
Yes, April 21, 1970, meant 75 years in the banking business for the Schrage family.
Christof and his son, Henry, who was 10 in 1854, invested in land in the vicinity of Whiting. The year 1863 shows other land investments, and 1868 shows Henry Schrage establishing the first store in Whiting – stocked for a pioneer community.
Walter Schrage knew this was possible because Grandpa Henry made a successful march and return with the Union Army and Sherman on the “March to the Sea”. It was after his return to Whiting in 1868 that Whiting’s first trading post was established.
In 1871 Henry Schrage became Whiting’s first postmaster with a post office in his own store.
Then things began to happen – Standard Oil had the same vision as the Schrage family for the area that was to become known as Whiting, and in 1889 they purchased some of Schrage’s land.
This money helped start the Bank of Whiting in 1895, the year that Whiting was incorporated as a town.
By 1903 Whiting was a city, and 1911 found the Schrages erecting and settling in a new bank building at 1500 199th street.
Henry Schrage never became Mayor of Whiting although he served as a councilman for many years.
However, Grandpa Henry died at the age of 88 in 1932 with the satisfaction of knowing his son Walter had been Whiting’s Mayor from 1914 to 1930.
It was in 1917 that Walter, Sr. became president of his father’s bank that had just received its incorporation papers and an Indiana state bank charter. Walter Schrage, Sr. was joined by his son Walter, Jr., in 1933 as a clerk.
As Walter looked about in his room without walls or doors, he felt he had met his responsibilities – it was after the death of his father in 1941 that he became president. The bank building had been beautifully remodeled – the name changed to First Bank of Whiting and a branch had been opened in Highland at Route 41 and 45th Street.
Yes, in its third generation of Schrages the total resources were almost $30,000,000, an impressive contrast to the first day’s deposits of $5,698. And it was just as easy to do business with the “Likable Wally” – as it was with Grandpa Henry 75 years previously.
April 15 to 21 was open house at The First Bank of Whiting. Refreshments – cake, coffee, punch – free gifts and a grand prize of a 75-point diamond were offered to everyone.