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SCHRUP, Charles Joseph
SCHRUP, Charles Joseph. (Dubuque, IA, Jan. 17, 1886--Dubuque, IA, Jan. 8, 1949). Schrup, the son of Nicholas J. SCHRUP. Sr., began work in 1904 at the DUBUQUE FIRE AND MARINE INSURANCE COMPANY and became the company president on February 25, 1924. He became the president of AMERICAN TRUST AND SAVINGS BANK in January 1925.
Schrup is credited with guiding the bank through the rough financial times of the GREAT DEPRESSION. American Trust and FIRST NATIONAL BANK OF DUBUQUE were the only two of seven local banks to survive. Deposits from 1931 to 1933 actually increased by $55,000 to reach $1,061,364. At the time of his death, the deposits had exceeded the $20 million figure.
Schrup served as treasurer of the National Reserve Insurance Company, president and treasurer of the Dubuque Securities Company, and member of the board of regents for LORAS COLLEGE.