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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Jul 10, 1951
Page
13
The Elyria Savings and Trust company marks fifty years of service with capital rising tenfold since 1901 and a new Avon Lake branch. Details recount early German-speaking staff, name changes, fires, relocations, and milestones including FDIC and Federal Reserve membership.
Most personnel at the Avon Lake Branch of Elyria Savings and Trust Bank plan to reside in Avon Lake Village. Key movers include Lowell Sellers and Ernie Palmer from the Elyria office, with teller Daniel Straka nearby in Sheffield Lake. Several staff already live locally, and students Rita Eversole and Alvera Petroff are connected to Avon Lake through schooling and employment.
The Elyria Savings and Banking Company opens with promising deposits and attractive interiors. The Elyria block location features quarter-sawed oak woodwork by Sandusky Furniture and Tennessee marble accents around the cashier’s windows.
Avon Lake shows three large industries within its borders led by the Cleveland Electric Illuminating Avon power plant. CEI president Elmer L. Lindseth cites a 41 million dollar investment at Avon, part of the company’s total. The plant sits on a 28 acre trust and expanded from initial 80 000 kilowatt units in 1926 to 1949 2x90 000 kilowatt units. it employs 250 to 300 people alongside B F Goodrich labs and Pruehaus Trailer plant employing many more. Avon Lake adopted a municipal charter on June 5, the first Lorain County town to do so.
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