The Lima Dime Savings Bank -- 1922-1930
- In the Journal of the American Bankers Association - 1922 - Listing of New Banks
- President - Ira Wagner; Ira E. Wagner started the Wagner Loan Company in 1916.
- Treasurer - Frank Thomas
- No other info on these men.
- The building is no longer there, but it was on the town square. Map
- The space was originally the ''Badeau Block'', [built before 1853, as per the earliest mention I found] on the southwest corner of the Public Square and Main street.
- Then the Badeaus and Wagner got together and built the new Dime Savings Building.
- The bank was robbed on May 2, 1922. Bandits made off with $4500 (that's $60,000 today).
- Shortlived - the bank dissolved in 1930. Their motto was: ''Where Dimes Grow to a Dollar'', but I don't think all their investors quite got the full value promised.
- Liquidation dragged on. Some depositors still hadn't received their monies in 1938.
- There were several court cases and legal issues.
Book style metal coin bank advertising give-away that opens with a key. It has The Dime Savings Bank / Lima, Ohio on the front.
Bonus Facts:
Lima Business College
See the entire contents of the above brochure in this PDF, with lots of history, photos of the classrooms, the students, the curriculum, the rates. -- LINK
Lima Business College - Class of 1921
Besides the usual newspaper ads and then the later legal issues, the only other interesting tidbit I found about the Lima Dime Savings Bank was that it was mentioned in Daisy Standish's obituary, as she worked at the bank from the 1922 opening to the 1930 closing. Daisy lived to be105 years old, and was a 1922 graduate of Lima Business College.
The Lima Business College was established in 1890, and is a part of UNOH now.
Letter from the Founder, George Farnham
[See below note for transcription]
In 1891, George Farnham took out a full page advertorial in The Lima Daily Republic newspaper, thanking the good people of Lima for a great first year of his new Lima Business College, and requesting new students for the new year. (Above)
Farnham was ran the Automatic Shading Pen Supply Company of Galion, Ohio., and had started a business school there, where in 1892 he ran a very similar ad:
Digging for more info on ''Professor'' Farnham, I found out he was a con-man and embezzler. Farnham had also started a business school in La Porte, Indiana, apparently running the schools concurrently, including the Lima location, with each school being set up sparing no expense.
Then one night, Farnham disappeared, taking with him the many hopeful students monies. Approx. $10-15,000 per school, reportedly. (That's about $250,000 in today's dollars.)
According to the news articles, he finally disappeared with almost a half million (in today's dollars), and untold thousands in debts.
Farnham was on the run, hunted, described as "a tall, middle-aged man, with red hair and full red beard, blue eyes, roman nose, and with but one good eye, the other glass."
Prof. George Farnham, president of the La Porte Business College, also of business colleges of Lima and Gallon, O., and proprietor of the Automatic Shading Pen Supply Company, indicate that he took with him in excess of $20,000 cash and left an Indebtedness vanning into the thousands. [Source]
An 1893 Cincinatti Gazette article said:
He made a big spread when he came here last fall. He rented a spacious building for his college, which he fitted up elaborately regardless of expense. He was lavish with his advertising, Ând succeeded in interesting our citizens in his enterprise, selling them a considerable number of scholarships, on which he realized from $75 to $325 apiece, and as the money had to be paid in advance, he is supposed to have had in his possession at the time of his departure from $10,000 to $15,000.
The college has nearly 150 mostly full course students. The First National Bank, of Lima, 0., has attached Farnham's properly on a claim of $2,000. Farnham is also President of a Business College in Lima and Galion, 0., and of the Automatic Pen Shade Supply Company, of the former place. He has left a large number of debts among our business men.
The article said the La Porte school was closed, but about the Lima school they reported: "The school here has over 100 hundred students and arrangements are being made for its continuation."
On November 22, 1893, the Lima News reported that Farnham had been found in New York:
LOCATED. "Prof." George Farnham's Whereabouts Discovered. And He Will Be transferred to La Porte Ind , to Answer for His Transactions. The following dispatch sent out last night from LaPorte, Ind., is of a great deal of local interest, as the principal figure in it was at one time a resident uf this city, and there are quite a number of creditors who would like to get a hold on him.
The dispatch reads; Prof. Geo. Farnham, late proprietor of a business college in this city, and wanted at Lima and by the local authorities for fraudulent transactions, has been located, and steps will probably be taken to secure his return to this city for trial. Farnham came to this city from Lima and established a business institute. He incurred many heavy obligations, and to relieve pressing demands forged notes which he negotiated with local business men, it being estimated that he secured upward of $50,000 by means of forged paper and advance payments of scholars for tuition. He mysteriously disappeared unon the first discovery of his guilt, and completely baffled the efforts of the authorities to locate his whereabouts.
Hmmm... but was he too slippery for the authorities?
This 1895 article appeared in the Indianapolis News, saying that Farnham was just arrested, and they mentioned he had started a school ''there'' too -- hmmm... also, they had a different $$ amount, so who knows how much Farnham actually made off with? --
Prof. - George Farnham, who left here under a cloud something over two years ago, has been, located In New York city. He started a business college here in ___ and it ___ alleged that he sold scholarships to the amount of $17,000. He also left debt unpaid ____ swelled the total amount to nearly ____. An effort will be made to bring him to book. 
Hello Goodbye
Now let's say Good Bye to the sordid Farnham case (albeit unresolved), and say Hello to Professor Pears, returning to the part about our Lima Business College's "arrangements are being made for its continuation."
In 1893, Howard Pears bought the school, and turned it into an honest, successful, respected, thriving concern.
His bio:
HON. HOWARD W. PEARS, president of the Lima Business College and a member of the State Legislature, is among the most prominent and influential citizens of the county. He is a native of the Buckeye State, having been born in Cuyahoga County, Ohio, in 1868. At the age of 12 years Mr. Pears started to fight his own battles, which he has continued to do in order to achieve whatever he has accomplished in the fields of education, business and politics. He was educated at Willoughby, Lake County, and engaged in teaching in that county for several terms.
In 1890 Mr. Pears went to Colorado and, desiring to equip himself for a business career, completed a course in the business college in Colorado Springs, and for one year held a position as private secretary to the president of the Rio Grande Hotel Company. He then established a private school of stenography and engaged in general reporting until the spring of 1893. The experience gained during the three years he was thus employed proved invaluable to him in later years.
Returning to Ohio, he located in Lima and purchased the Lima Business College in 1893.
At that time its pupils numbered about 40, and Professor Pears at once set about improving the school by establishing a practical system of training that would enable the student who had finished a course in his institution to at once take charge of the work for which he had studied. A high grade of work was required from the pupil, and no pains were spared to make the training as thorough and practical as though obtained in actual business, and the result soon began to be manifest in the facility with which the students of the Lima Business College obtained desirable situations. Not only was there a constant demand for them, but it soon became apparent that they were generally satisfactory to their employers, and these combined circumstances resulted in an increased attendance at the school.
One year after taking charge, Professor Pears found it necessary to engage an assistant in the work, which was growing to such proportions that he could not do it the justice he wished, and I. F. Clem became a partner and is now secretary of the institution. In 1896 the college was incorporated, with a capital stock of $5,000, and has steadily grown until it now has an annual enrollment of 300 pupils, and ranks second to none in Ohio.
In 1899 Professor Pears was united in marriage to Anna Schnabel, a daughter of Charles Schnabel, of Lima.
By 1914, the school under Professor Pears was so successful it moved into the large new building pictured in the postcards and photos seen up above, and top center in the newspaper image here:
1914 - LIMA BUSINESS COLLEGE TO OCCUPY NEW BUILDING SOON Portion of North Elizabeth Street Structure to be Used by Offices and Business Houses -- Big Block Sends Real Estate Values up in Vicinity -- http://www.newspapers.com/
Sadly, it appears that Pears died not long after the move into the new building. He passed in 1916 or 1917. His wife, Anna Schnabel Pears was in the news in 1918.
WRONG TABLETS ARE TAKEN BY MRS, HJ, PEARS Narrow Escape from Death for Prominent Woman, Widow of Late Professor. The many friends of Mrs Howard W. Pears, widow oE the late Pro- fessor Pears, of 747 west North street, will regret to learn that she is seriously ill at her home, suffer- ing from the effectSi of codeine tab- lets which she took by mistake last night, In place of cold tablets. Mrs. Pears had been suffering from the grippe, and before retiring she took several of the tablets, thinking they were cold tablets Her son, Robert Pears, upon rising this morning, found his mother in a serious condition and suffering great- ly. A physician was immedi- ately and after treatment, it thought that she would recover. She resting easier this afternoon. -- http://webcache.googleusercontent.com/search? q=cache:XX0MmKS_gKoJ: newspaperarchive.com/lima- daily-news/1918-03-11/page-2+& cd=9&hl=en&ct=clnk&gl=us
In 1926, James Joiner became the new owner of the Lima Business College. [Source]
Announcement The Business College located in the Lima Business College Building No 210 North Elizabeth Street has been purchased by James B Joiner of Col- and Springfield possession being given today This school organized thirty-seven years ago by tbe late Howard Pears is one of the foremost schools of the Middle West In point nf equipment location aad excellence of courses of study the Lima Business College has had but fetr equals Many of the Leading business men of Lima and surrounding territory are graduates of this school and speak with pride and affection of the part it had in their success The new owner Mr Joiner is a thorough Business man of long tical experience For thirty-five years he has specialized in this work ing some of the best business colleges in Ohio He personally the very successful Columbus Business College for twenty years While Mr Joiner stili has large business interests in Columbus he has made his headquarters at Springfield for sis years Here be organized the Springfield Business College now an institution owning and occupying exclusively its own building on a prominent corner of the city's business district The school enrolls annually around 275 students Speaking of his purchase of the Lima Business Collese Mr Joiner I am to this school and to the city of Lima the results of all my years of experience in conducting successful institutions for training young men and young women for busy successful futures I know there is no better city than Lima in the entire state and I know the Business College as founded by Mr Pears and carried oa by his was unsurpassed by any school of its kind This is a wonderful combination a live progressive city and a business college with years of successful dealing with the I am with assets of my belief in the of this school this city -I ask the of busing have been served br this school for all rears and for th of hundreds of for th To all of I pledge the of effort and endeavor iime or will be in the highest of and a which to produce SM naine of Lima C M The Mr Joiner him Manager end Registrar Mr a practical man JD for and lor lie cud of this be cpOB delay The Lima Business College E Joiner Pres
In 1921 Charles Gruenbaum was President. How things went from Pears when Joiner took over until the college was folded into UNOH will have to wait. Our story stops here for now.
_______________________
Note: Image to text transcription of the 1890 Thank You advertorial [source]:
Lima Daily Republican (Newspaper) - December 31, 1890, Lima, Ohio r Daily WEDNESDAY MORNING DECEMBER WHOLE 1890 THE t LIMA BUSINESS COLLEGE 189O It has been a successful and like an old the Lima Business College is prepared to bid it a kind and lone to be remembered and we give thanks to old Father Time for the prosperity he brought to us in and the promises lie has made to us the morrow will bring the entrance day of A PROSPEROUS AND HAPPY NEW THE BUSINESS COLLEJOEL do we give Not only to the old j but to the city of its prosperous and progressive its enterprising business men and its public b nefactors and in ourselves and our college Industry to a front rank among solid and permanent establishments that shall bid welcome to tho new and with what brighter and more glorious prospects can any city in the Union look forward to than HAS FOR Let us with every energy we can put MAKE THE NAME OF a name the world shall do homage to Did we not receive a glorious Christmas gift in a new public building Have we not the most substantial private buildings for a city of our size in the State Have we not the best natural industry in the of which Lima is the center or our oil and gas fields Have we not one of the best public school systemsin the State Have we not a new College and a Normal to be built in 1891 A city of fine our handsome court for Lima is to be remembered is a county seat of one of Ohios best counties Have we not the best the great Pennsylvania and Erie with their immense outlets east and and our and with their exten sions from the lakes and Canada to the great gulf and our new railroads that Lima capital and energy are pushing forward for 1 89 1 WHY DID I COME TO LIMA WHY HAVE I GIVEN TO YOUR CITY THE BEST EQUIPPED BUSINESS COLLEGE IN THE STATE Because Lima is a live because it is because your people dont hang back on because you know what success is and how to appreciate it by liberal and on this occasion more than any other as the old year rolls I WANT TO THANK THE PEOPLE OF LIMA FOR THE PATRONAGE EXTENDED IN To The Lima Business College and its I want to thank my students for the many favors extended to me and the institution by them in more ways than I want to thank my associate assistants and employes for their patient and persevering labors and hardships undergone in the difficult task of building up new enterprise and making it I want thank the business firms and with whom it has been my pleasure and necessity to deal for many favors and wte of kmdness extended to me a perfect And but not I want to thank the press of the best friend a business man next to his if he only knows it for all they nave done for meand the Lima Business Colle labors or me yourThewinterterm January with a registered list of 174 Cannot we swell that number to 20O before afliaf only 26 more Will you not aid me a little Enter your boy or grirl or come in yourself end register before the I would like to advertise m etftat the Lu started oat in 1891 with 200 bcna fide What a record for You may have my old credit terms if you enter before the but after that date it MUST BE Make a mighty effort and send your boys end girls for this My cffice JB cjen eveiy day end evening tJEill p Fey the institution a compliment visit itSee what we hare to see and go away satisfied that you are proud of one which is the Lima Business IT LEADS THEM and with a Happy New Yeartoau I subscribe myself yours to X V
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Note: These items are part of my ''Collecting Lima Virtual Museum''. They are not for sale.
If/when I find more information on these items, I will add it to the post.
Read the Introduction to Collecting Lima Virtual Museum Project ~ My Lima Ohio Bottles, Advertising, Antiques
Note: These items are part of my ''Collecting Lima Virtual Museum''. They are not for sale.
If/when I find more information on these items, I will add it to the post.
Read the Introduction to Collecting Lima Virtual Museum Project ~ My Lima Ohio Bottles, Advertising, Antiques
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