Although there are no Sheldon connections that I know of, I'm fairly experienced in the Calhoun, Eaton, Shiawassee, Clinton, and other area county research.I visited Albion in 2004, and Battle Creek in 2000, 2004, and 2006, the very heart of Calhoun County.
Notice that the Elmer Rickey in the 1930 census in the Ohio prison was (a) only the county jail (not federal) and (b) the Census record states he is married.So, this is only a close but not exact match.Census takers were known to have made mistakes, and they also took down what they were told.Still he is your closest match in 1930 as far as I can tell.
Your best bet for any story would be area newspapers, however there is, as you know, the block of a 10 year span and anything could have happened and at any time during those ten years.My hunch says it was probably closer to the end of the 1920's because being in a county prison may not have been so serious.It could have been as simple as a bar brawl or maybe more serious... like theft or some other type tort crimes.
Goldie popped up in 1930 as a result of a specific name search on Ancestry.com.So, if he was your 'long lost grandfather' ae you then related to the Webster family?
If you start searching for cemeteries, be aware that the counties in Michigan are fairly small (as compared to some here "out west.").It was not uncommon for people to be layed to rest in an neighboring county especially when cemeteries could be located 'just across the county line.'Althugh my ancestors were mostly in Eaton County in the late 1800's and early 1900's, my gg-grandfather used to travel to Partello to play music, and Partello is 'just across the county line.'
Best regards, and I hope this gives you some new leads.
Jack Sheldon, Jr., CPA Sheldon Family Assn. Asst Genealogist Mesa, AZ (formerly of Owosso, Michigan)