CHAFFEE -- A group of men made a deposit 97 years ago in what would become the First Midwest Bank of Chaffee that has accrued a value far beyond its monetary worth.

The building was torn down recently after being vacant for four years and deteriorating to a dangerous state. When the owners of the bank had J.W. Strock Construction in Cape Girardeau demolish the structure, they discovered a kind of time capsule within the building's cornerstone.

When Joe Strock, manager of Strock Construction, broke open the cornerstone he found a copy of the Chaffee Review newspaper dated Dec. 8, 1905, the signed business cards of some local men, a typed description of Chaffee dated Dec. 9, 1905, and a 1903 silver dollar.

Jim Miller, executive vice president of First Midwestern Bank of Chaffee, said it was a historic find that will be a great addition to Chaffee's historical society.

"It's kind of amazing how it stayed in such good condition," Miller said. "It wasn't in a capsule or anything. It was just inside the cornerstone."

The city of Chaffee was founded in 1905.

The issue of the Chaffee Review, which started in 1905 and closed sometime before 1910 when the Chaffee Signal opened, advertised lots for sale in the new town for $3 per foot. Red Snapper whiskey out of Cape Girardeau had an ad as did the now-defunct Chaffee Development Co. and the Chaffee Quarry.

One of the cards was from the Chaffee Real Estate Co. and carried the signature of H.W. Beardsley, the first Chaffee postmaster.

The typed description of the "future city of Southeast Missouri," says there were dwellings and business buildings under construction on Yoakum Avenue and west of Second Street.

"August Heeb has a meat market on Main Street facing Parker Ave.," the description reads. "Kagel's large two story frame building is not quite completed."

The description lists businesses like Alley, Wright & Co., Eli Osman and J.W. Mears.

"The town site of Chaffee is at present owned by the Chaffee Real Estate Co. of which Mr. James W. Black, is president. The work of development has been carried on by the Chaffee Development Co., of which James W. Black is president," the letter says.

Donna Cannon, Chaffee Historical Society president, said it was a great find.

"Nobody had any idea it was there," she said. "It was just unearthed by accident."

The historical society has been together for less than a year, but it is already planning a museum. The capsule's contents will be a valued addition.