News: Thorp - Thorp Finance (1955)
Contact: Dolores Mohr Kenyon
Surnames: Conway, Hayssen, Kamradt, Kostner,
Guell, Hammitt, Gruszynski, Broeren, Hirsch,
----Source: Clark County Press (Neillsville,
Clark Co., WI.) July 21, 1955
Thorp Finance (1955)
Thorp Finance Corporation has purchased control of the Northwestern
Acceptance Company and its subsidiary, the Northwestern Loan
Company, with four offices in Milwaukee and one in
purchase price of the two companies, which will be operated under
the name of Thorp Finance Corporation of Milwaukee, was not
disclosed. The Northwestern firms’ assets reportedly totaled
$2 ½ million.
acquisition marks the first time that Thorp Finance has had
operations in Milwaukee itself. The purchase gives Thorp
Finance a total of 46 offices throughout
Francis J. Conway, Thorp president, also will act
as head of the new Thorp finance Corporation of Milwaukee.
Goeres Hayssen, formerly president of the two Northwestern
companies, will be vice president and a director of Thorp Finance,
and Lyle Kamradt, formerly Northwestern vice president, will
continue as a Thorp supervisor and director. Other officers
of Thorp Finance Corporation of Milwaukee are: Emil E. Kostner,
Corwin C. Guell, Glenn D. Hammitt and Clara Gruszynski, vice
presidents; Jean C. Broeren, secretary; Mark J. Hirsch, treasurer,
and Walter Armbrust, assistant treasurer.
Northwestern’s present personnel will remain unchanged and the firms’ activities will continue "substantially along the same lines," but on a larger scope because of the increased capital brought about by the purchase by Thorp, Hayssen said.
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