News: Thorp Finance (105th Office - 27 Feb 1964)

Contact stan@wiclarkcountyhistory.org

Surnames: Kostner, Ryan

----Source: THORP COURIER (Thorp, Clark County, Wis.) 02/27/1964

The Thorp Finance Corp. has acquired its 16th Minnesota office with the purchase for cash of the Grand Rapids Credit Plan Inc., Grand Rapids, Minn., according to Emil E. Kostner, president.

The purchase, which brings Thorp's branch locations to a total of 105, was made from Edward C. Ryan, President of the Grand Rapids firm.

Thorp owns branch offices in four Midwestern states -- Minnesota, Iowa, Wisconsin and Missouri. The company operates in Minnesota as Thorp Loan & Thrift, in Iowa under the name of Thorp Credit Inc., and in Missouri as the Thorp Credit Corp.

The newly purchased office has assets of about $350,000 and will be operated as a wholly owned subsidiary, with Ryan becaoming a director. The company name will be changed to Thorp Loan & Thrift Co. of Grand Rapids as soon as possible.

Grand Rapids is one of Minnesota's popular year around recreation centers. Besides the numerous sports facilities available, the town also has diversification of industry along with mining.