I found a cool resource on the Wichita State University library website today. Dr. Edward Tihen read and took notes on "nearly every" issue of the Wichita newspapers from 1872 to 1982. WSU has transcriptions of these notes in searchable PDF files. They have also identified and organized notes on almost 500 topics including particular buildings, neighborhoods, individuals and events. Each note is tagged with the date of the paper, so you could use this as an index to the microfilmed paper.
This may not be as good as a full-text, searchable archive of the newspaper, but I'm not aware of such a resource yet for the Eagle and Beacon.
Check it out at http://specialcollections.wichita.edu/collections/local_history/tihen/index.asp