The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-06-26
100000 IS
PAID FOR VAST
LOAN BUSINESS
Chain, Built Up by Forty
Years of Hard Work,
Changes Hands.
CITY MAN SELLS FIRM
William A. Zumpfe Lies III
in Hospital While Deal
Is ConSummated.

Only a game fish swlms upstream
that's natural history; and only a
game man wins against odds-that's
the history of man, demonstrated
today with the disclosure that a
loan business which had its incep-
ton in the orchestra pit Of an old
theater here has netted its owner
more than S3,000,O00 in a recent
sale.
In the Methodist hospital today
there is seriously i'll a man whose
career is the epitcme of persever-
ance and work. It would make a
tale that Horatio Alger Jr. could
have written.
But unlike Ayers heroes, William
A. Zumpfe didn't save the life Of
his employers daughter, beat OF
host of proved villains and
then marry the girl.
Instead, he worked and persevered
and the results of his labor have
made him a multi-millionaire, his
friends say.
Within the past few weeks and
with the disdain for publicity which
has characterized his every act,
Zumpfe has sold his chain of general
mortgage loan business in Indiana,
Illinois, Ohio and Pennsylvania to
the Merchants and Manufacturers
Securities Company of Chicago, for
a figure reputed in excess of
100000.
Entwined With Friend
The properties included in the
sale are: The Provident Loan Com
panies, located in six Indiana cities,
Valparaiso, Elkhart, Michigan City,
South Bend. Hammond and East Chi
cago; two in Ohio, one of which is
at youngstown; several in Illinois
and his largest, lat connected with
the Wanamaker store in Philadel-
phia. The out-state concerns are
operated under various names.
VIII Chandler, a brother-in-law,
who was active in the management
of properties, which had the gen.
eral Offices in the Odd Fellow build
ing here now is in Chicago with the
purchasing concern.
Zumpfe's financial activities COW
er a period of forty years and were
for a period entwined with those of
his friend, John H. Aufderheide,
prominent indianapolis investment
and securities dealer.
Born in Shelbyville
Born in Shelbyville in 1865,
Zumpfe was brought to indian
apolis at an early age and went to
grade school, Shortridge high school
and business college here.
In about 1880 he entered the In
diana National bank, where he be-
came a teller. At the now defunct
Indiana Banking Company he was
a bookkeeper, Aufderheide, his close
companion and friend.
Incidentally another bookkeeper,
who worked next to Aufderheide
was Frank D. Stalnaker, now pres
ident of the Indiana National bank.
To exc out his salary. Zumpfe
organized an orchestra which played
under his name, at the English and
other theaters. Zumpfe was first
violin and his friend Aufderheide,
played the viola.
Organized Own Firm
The Indiana Banking Company
was forced to close its doors and
'Aufderheide engaged in various
businesses for several years, obtain
ing experience in the real estate,
insurance and loan business in that
period. In 1887 Aufderheide c-.,an-
lied loan, real estate anC insur-
ance business under his own name.
Four years later his friend, Zum-
pfc, resigned from the bank to be-
come a partner and the firm was
known as Aufderheide and Zumpfe.
The two men we're partners for
several years when their connection
was dissolved and zumpfe started
the Central Loan Company which
he operated under that name for
seven years. Then he started
branching cut. His interests became
varied and several years later he
gave up the Indianapolis business,
but continued his far-hung activi-
ties from the Office here.
For the past few years various
large banking and mortgage cor
porations have been attempting to
purchase the companies founded by
the banker-orcheStra leader, and it
was only recently that he decided
TO sell. The deal finally was con-
summated while he was III at the
hospital.
Mr.. and Mrs. Zunpfe reside at
1911 North Alabama street, and
have q summer home at Long