Adelma Lupton came to Pennville in 1838 with his father, made his fortune working first as a blacksmith, then as a manufacturer of plows, wagons, and buggies, and finally in the general trading and livestock business.
In 1890 he started the Pennville Bank with $50,000 (over 1.1 million 2008 dollars) which he personally set aside The private bank, which survived the panic of 1893, built a reputation as being a sound financial institution to the point that several oil operators of the time kept their money there, even though it was not under state supervision. Lupton died on June 9, 1899 and his son A. G. Lupton was named president.
In 1890 he started the Pennville Bank with $50,000 (over 1.1 million 2008 dollars) which he personally set aside The private bank, which survived the panic of 1893, built a reputation as being a sound financial institution to the point that several oil operators of the time kept their money there, even though it was not under state supervision. Lupton died on June 9, 1899 and his son A. G. Lupton was named president.
Adelma Lupton came to Pennville in 1838 with his father, made his fortune working first as a blacksmith, then as a manufacturer of plows, wagons, and buggies, and finally in the general trading and livestock business.
In 1890 he started the Pennville Bank with $50,000 (over 1.1 million 2008 dollars) which he personally set aside The private bank, which survived the panic of 1893, built a reputation as being a sound financial institution to the point that several oil operators of the time kept their money there, even though it was not under state supervision. Lupton died on June 9, 1899 and his son A. G. Lupton was named president.
In 1890 he started the Pennville Bank with $50,000 (over 1.1 million 2008 dollars) which he personally set aside The private bank, which survived the panic of 1893, built a reputation as being a sound financial institution to the point that several oil operators of the time kept their money there, even though it was not under state supervision. Lupton died on June 9, 1899 and his son A. G. Lupton was named president.
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Bio information provided by Sondra (#46922443)
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