When Rich Guys Go Broke

Ever wonder what became of the Van Sweringen brothers — that is, after they built the Interurban Railroad, the Rapid Transit, the Terminal Tower, and accumulated land and railroad holdings of around $3 billion? Turns out, the Great Depression did them in. “They got way overextended,” explains local historian Virginia Dawson. “When the stock market crashed in 1929, the writing was on the wall.” Hanging in the balance, it turns out, was the fate of Shaker Heights, where the brothers had turned nearly 4,000 acres of farmland into one of the nation’s first planned communities: a prestigious address where restrictive covenants and deed restrictions controlled the placement of every brick, shingle, and sidewalk. As the Vans sank, how would Shaker Heights survive? Dawson, who is currently writing a book on Shaker Heights history, reveals the answers today at the Shaker Heights Historical Society. Her talk is part of the exhibit Shaker Heights 1905 – 1930: The Selling of Peaceful Shaker Village, which continues through March 30 as part of the city’s centennial celebration. The conversation begins at 4 p.m. Non-members pay $5, members pay nothing, and everyone has to make reservations by phone at the number below