Finding aid for the Akron Savings and Loan Company Records


Title:
Akron Savings and Loan Company Records
Repository:
Archives and Special Collections, University Libraries, The University of Akron
Phone: 330-972-7670
http://www.uakron.edu/libraries/archives
Creator:
Akron Savings and Loan Company
Dates:
1888-1924
Quantity:
0.7 cubic feet (2 boxes)
Abstract:
Opening in 1888, the Akron Building and Loan Association helped the people of Akron with financial activities and home ownership. The business continued to grow causing multiple relocations within Akron. When the name was changed to the Akron Savings and Loan Company in 1909, the company's total assets totaled $800,000 which grew to $6,000,000 by 1924. The records are arranged into seven series and include financial statements, annual reports, and meeting minutes from 1888 to 1924.
Identification:
99/105
Location:
Archival Services, Polsky Building, LL-10
Language:
The records are in English

History of Akron Savings and Loan Company

In 1888, the Akron Building and Loan Association was opened at 196 South High Street. The institution was established to help people with financial endeavors. The first officers were Hugo Schumacher, W.B. Gamble, A.H. Noah, William Buchtel, and P.M. Atterholt. During the great period of expansion for the city, the company served to aid the people of Akron to own their own homes.

In 1891, the growth of business made it necessary for the company to move to the Hotel Buchtel, at South Main and Mill streets. The year of 1895 brought another move to 130 South Main Street. In 1909, the name of the company was changed to the Akron Savings and Loan Company, with its headquarters at the South Main and Bowery Savings and Loan Building. At this time, the total assets of the company were $800,000 and the business prospered so well that by 1924 the company's total assets increased to $6,000,000. In the same year, the company's building was torn down and a new and larger building was erected at the same site.

Scope and Content

The Akron Savings and Loan Company records contain materials such as financial statements, annual reports, and meeting minutes relating to the growth and development of the agency from 1888 to 1924.

The collection consists of seven series: I. Objectives and Methods, II. Financial Statements, III. Semi-Annual Reports, IV. Passbooks, V. Constitution and By-Laws (within dues books), VI. Minutes of Directors' Meetings, and VII. Miscellaneous.

Objectives and Methods (Series I) is a pamphlet explaining the purpose of, management, and rules for investing money or procuring loans in the Akron Savings and Loan Company.

Series II consists of three booklets describing the financial statements for the company in the years 1890, 1891, and 1922. Also included are the names of the various officers and directors at the time of the publication of the financial statement.

The semi-annual reports in Series III are booklets compiled by the secretary of the Akron Building and Loan Association which lists the deposits, loans on mortgage, and the constitution and by-laws for the years 1888-1889, 1891, 1893, and 1894. In addition, there are the authorized and subscribed capital statements.

In Series IV, there are two passbooks, #6509 and #5950, formerly belonging to Steve Vuiceu and J. Owen Kirkbride, dating from August 1916 through May 1967, and December 1916 through November 1931 respectively.

The constitution and by-laws are also included in dues book #5421 and an unidentified book. The dues books in Series V date from 1890-97, 1897-98, 1900-03, and 1903-13. The owners of the dues books were Helen Townsend, Bernard McGaffrey, Frederick German and Fred and Ada German.

Series VI contains the minutes of the directors' meetings and comprises the largest space in the collection. Contained in four volumes of ledgers are the tally of votes for officers, attendance records, and legislation for the company.

The miscellaneous file of Series VII contains a pamphlet entitled "Growing with Akron," a 1924 historical analysis of the Savings and Loan Company, and a negative of the photograph of the new Savings and Loan Building of 1924.

These records do not include correspondence files or information about company personnel. There is no information about the company after 1924.

Statement of Arrangement

The records are arranged into the following series: Series I: Objects and Methods; Series II: Financial Statements; Series III: Semi-Annual Reports; Series IV: Passbooks; Series V: Constitution and By-laws; Series VI: Minutes; Series VII: Miscellaneous;

Restrictions on Use

Copyright restrictions may apply. Permission to reproduce or publish materials in this collection must be secured in writing from Archival Services, University Libraries, The University of Akron.

Restrictions on Access

No restrictions on use; except not available through interlibrary loan.

Indexing Terms

The following terms have been used to index the description of this collection in the library's online public access catalog.

Subjects:

Banks and banking -- Ohio -- Akron

Organizations/Corporations:

Akron Building and Loan Association
Akron Savings and Loan Company

Preferred Citation

[Identification of Item], Akron Savings and Loan Company Records, Archival Services, University Libraries, The University of Akron, Akron, Ohio.

Bibliography

Pamphlet, "Growing With Akron," 1924.





Detailed Description of The Collection



Series I: Objects and Methods, undated

Box 1 / Folder 1
An Explanation of the Objects and Methods of Doing Business with the Akron Building and Loan Association, undated





Series II: Financial Statements, 1891; 1922

Box 1 / Folder 2
Statements & Arsenal Building and Loan Association, Dec. L, M. Building and Loan Association. The Akron Savings & Loan Company financial records., June 30, 1891





Series III: Semi-Annual Reports, 1888-1889; 1891; 1893; 1894

Box 1 / Folder 3
First Semi-Annual Report of the Secretary of the Akron and Loan Association of Akron, Ohio; Second Annual Report, Fourth Annual Report, Fifth Annual Report, 1888-1889





Series IV: Passbooks, 1916-1931; 1916-1967

Box 1 / Folder 4
Passbook #6509; Passbook #5950, Dec. 1916 - Nov. 1931





Series V: Constitution and By-Laws, 1890-1913

Box 1 / Folder 5
Dues Book (unnumbered); Dues Book #5421, #3606; #4281, Jan 1890-Dec 1897





Series VI: Minutes, 1896-1912

Box 1 / Volume 1-4
Minutes of Directors' Meetings, Jan 1896 - Dec 1912





Series VII: Miscellaneous, 1924

Box 2 / Folder 1
Pamphlet, "Growing with Akron"; Photographic negative of the Akron Savings and Loan Building, 1924