On Thursday, October 24, 1929, appropriately called “Black Thursday”, the stock market collapsed and the depression of the thirties was upon us. At this time, Grand View’s capital debt was $77,000.
During one month alone, 80% of all X-ray work was free. The people of the communities, realizing the hospital’s dilemma, responded to the best of their capacities by donating food, textiles, many hours of labor and limited sums of money. It is impossible to enumerate the thousands of donations by the people in this hour of need. We were impoverished, but our plight was no different than the nation as a whole.
And, treasurer Snyder’s annual report at the end of 1932 was precariously close to red ink.
The hospital’s finances turned around swiftly due in large part to Rev. Paul G. Klingler, hired as financial secretary in 1931. By implementing a pay-as-you-go policy for supplies and working to collect delinquent accounts, the financial situation of the hospital improved. Partly through his efforts, the capital debt was reduced to $70,828 in 1934.
Source: adopted from A History of Grand View Hospital by Walter J. Hendricks, MD