Bank of Whiting Celebrating 60th Anniversary
Item
Title
Bank of Whiting Celebrating 60th Anniversary
Identifier
SN.01.044
Subject
60th Anniversary, Anniversaries
Text
The Bank of Whiting was established on April 21, 1895, by Henry Schrage, one of the early settlers in Whiting. The total deposits at the close of the opening day amounted to $5,698.05. The officers of the bank were Henry Schrage, Cashier; Walter E. Schrage, Assistant Cashier; Henry C. Schrage, Assistant Cashier; and William C. Schrage, Assistant Cashier.
Henry Schrage came to live in what is now known as Whiting in October, 1854, at the age of ten. The days of his childhood were those of hardship, amid the troubles and tribulations of pioneer days, and as a consequence he had a liberal...
same year the bank was established, Whiting was incorporated as a town and Henry Schrage took an active part in the formation of its government as a member of the town council.
In 1903, it was necessary because of population growth to incorporate Whiting as a city. The business of the bank grew so rapidly that the need for larger quarters prompted Mr. Schrage to erect a new bank building at the corner of 119th Street and New York Avenue in the year 1911.
In 1917 the Bank of Whiting was incorporated with Henry Schrage serving as Chairman of the Board of Directors; his son, Walter E. Schrage, Sr., as President; and William C. Schrage, as Cashier.
Henry Schrage continued actively in the affairs of the Bank until shortly before his death in 1932 at the age of 88.
Walter E. Schrage, Sr. was born in Whiting in 1884, the youngest son of nine children born to Henry Schrage and Caroline Schrage. After completing his education in the public schools, he attended the University of Wisconsin, but discontinued his college education in order to enter the Bank to assist his father. While employed at the Bank he continued his education by attending night school.
When the bank was incorporated in 1917 he was elected President and continued the management of the bank until his death in October, 1941.
Walter Schrage, Sr. was also active in promoting the welfare of the community, being elected to the membership of the school board at the age of 22. In 1913, he was elected mayor of Whiting and continued to serve in this capacity for four consecutive terms, finally withdrawing from the campaign in order to devote more of his time to his varied business interests.
The third generation and present head of the Bank, Walter E. Schrage, Jr., has continued to uphold the principles of his grandfather and his father, and under his leadership the bank has experienced remarkable growth and prosperity.
Wally, as he is more commonly known, is also active in civic and fraternal affairs, and enjoys participation in the various welfare programs of the community. Like his father, he is well acquainted with the problems of the community, as he has lived here all of his life.
Today, the Bank of Whiting under the leadership of the third generation of the Schrage family, is indeed proud of its 60 years of friendly, courteous and dependable banking service.
Henry Schrage came to live in what is now known as Whiting in October, 1854, at the age of ten. The days of his childhood were those of hardship, amid the troubles and tribulations of pioneer days, and as a consequence he had a liberal...
same year the bank was established, Whiting was incorporated as a town and Henry Schrage took an active part in the formation of its government as a member of the town council.
In 1903, it was necessary because of population growth to incorporate Whiting as a city. The business of the bank grew so rapidly that the need for larger quarters prompted Mr. Schrage to erect a new bank building at the corner of 119th Street and New York Avenue in the year 1911.
In 1917 the Bank of Whiting was incorporated with Henry Schrage serving as Chairman of the Board of Directors; his son, Walter E. Schrage, Sr., as President; and William C. Schrage, as Cashier.
Henry Schrage continued actively in the affairs of the Bank until shortly before his death in 1932 at the age of 88.
Walter E. Schrage, Sr. was born in Whiting in 1884, the youngest son of nine children born to Henry Schrage and Caroline Schrage. After completing his education in the public schools, he attended the University of Wisconsin, but discontinued his college education in order to enter the Bank to assist his father. While employed at the Bank he continued his education by attending night school.
When the bank was incorporated in 1917 he was elected President and continued the management of the bank until his death in October, 1941.
Walter Schrage, Sr. was also active in promoting the welfare of the community, being elected to the membership of the school board at the age of 22. In 1913, he was elected mayor of Whiting and continued to serve in this capacity for four consecutive terms, finally withdrawing from the campaign in order to devote more of his time to his varied business interests.
The third generation and present head of the Bank, Walter E. Schrage, Jr., has continued to uphold the principles of his grandfather and his father, and under his leadership the bank has experienced remarkable growth and prosperity.
Wally, as he is more commonly known, is also active in civic and fraternal affairs, and enjoys participation in the various welfare programs of the community. Like his father, he is well acquainted with the problems of the community, as he has lived here all of his life.
Today, the Bank of Whiting under the leadership of the third generation of the Schrage family, is indeed proud of its 60 years of friendly, courteous and dependable banking service.
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