Here's a small article about Lorain's Civil War statue that appeared in the Lorain Journal dated May 5, 1952. It's a pretty amusing little prank – tame by today's standards!
I was excited just to see the photo of the statue in the newspaper. The statue looks like it was painted to make it more lifelike, and seems to match the appearance in the more recent postcard.
There isn't much information about the Civil War statue online or anywhere for that matter. The Images of America book on Lorain says that the statue was eventually taken down and given to the 103rd Ohio Volunteer Infantry out on Route 6 in Sheffield Lake.
Last summer I paid a visit to the 103rd OVI since I was writing an article about it for the Black Swamp Trader & Firelands Gazette. I asked them about the statue and whether it was on display somewhere on the grounds. Unfortunately, they told me that the statue had been in such poor shape that it was literally falling apart and was eventually scrapped.