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Big Missouri Bank Closes Its Doors SPRINGFIELD, Mo., Jan. 15.- The Holland Banking company, larg. est state bank in Missouri outside of St. Louis and Kansas City, failed to open its doors today, following two runs last week. It had resources of $7,000,000.
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MO. BANK CLOSES UP; TWO RUNS By United Press Leased Wire SPRINGFIELD, Mo., Jan. 15.The Holland Banking Company, the largest state bank in Missouri out. side of St. Louis and Kansas City, failed to open rts doors today, following two runs last week. It had resources of $7,000,000.
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More Proof of Prosperity. SPRINGFIELD, Mo., Jan. 15.The Holland Banking Company, largest state bank in Missouri outside of Saint Louis and Kansas City, failed to open its doors today, following two runs last week. It had resources of $7,000,000.
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The Holland Bank at Springfield, Mo., a $7,000,000 bank, closed its doors Tuesday after several days "run" of depositors. The bank's figures, however, show that it is not insolvent.
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News of the World Four negroes held up the Main Street Bank at Kansas City last week and escaped with $44,500. Six armed men held up the West St. Louis Trust Co. bank Tuesday, escaping with over $26,000. James Torrens, a farmer near Humbolt, Tenn., killed his wife and himself Monday after a quarrel which had lasted three days. The gross public debt of the nation is equal to $301.56 for each person of the country's population, while in 1912 it was only $70.26. Warren J. Lincoln, Illinois lawyer, and cousin of Abe Lincoln, has admitted having killed his wife, cut up her body and burned the pieces. The British submarine L-24 was rammed by the dreadnaught Resolute Friday and sank near Portland Bill. Her crew of 43 perished. The people of Boston have adopted the descriptive word, "scofflaw" to apply to souses who SO scoff the law when they become inebriated on the prohibited beverages. It is reported from Koenigsberg, East Prussia, that scientists have sueceeded in developing a sure-enough, normal female toad frog from a toad that started life as a normal male. The Holland Bank at Springfield, Mo., a $7,000,000 bank, closed its doors Tuesday after several days "run" of depositors. The bank's figures, however, show that it is not insolvent. William Jennings Bryan has announced the name of Dr. A. A. Murphree, president of the University of Florida, as the candidate he will support for the Democratic nomination for
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FERGUSON TRIAL IS NEAR END Case Will Go to Jury Late This Defense Witnesses Heard During Final Day. That loans made by the Holland Banking amply the general contention the defense, begun yesterday court Buffalo, the former board of directors of the Holland Banking which closed doors January 1924. He charged with having received de. posit the bank he knew the in failing dition. concluded its evidence shortly after and defense witnesses then who testified on half of included Mar Al Gottfried and Their testimony was the ef fect that Ferguson had represent Holland be condition shortly before the doors closed. The trial before Judge Skinker of presided former trial Ferguson, which the jury was unable agree. court adjourned yesterday afternoon, at hour, H. Nelson, former note teller Holland bank, was the stand the on the Holland during last days the institution was Tells of "Run." Nelson the day fore the closed, total deposits more than $200,000. During the preceding the closing of the bank, witness said, withdrawals to than the Following testimony Highfill, banker and Yadon, Springfield the trial was halted for the torney, Wingo, the first witness called after the bank carried not borrow the money,' Wingo "but assume the indebtedness which The firm, according witwas the Newton Grain he had taken out Wingo $15,000 life payable to estate, to protect the The loan, the witness said, event would be paid. Daily Testifies. The witness Daily, president of the Interstate Milling company. The firm, acto Daily, owned the bank cording (Continued from Page Three)
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HOLLAND BANK CLAIMS BEING TODAY Action on Several Claims Deferred Pending Action of Supreme Court. Hearings preference claims against the Holland Bank were sumed in the first division of the circuit court today. being lowed and being taken under advisement or judgment deferred pending action the court the in cases alleged to be similar. The claim Rose Glidden, for was court claimant filed his claim the Attorney Roscoe representing the liquidation stated statute shall after tion has been received the from the ating officer. while Judge rington and Judge Johnson the decisions the court hearing has large dia Claim Allowed The claim of the Frisco railway Mr. draft drawn on for the passed through all last day the for business by the court the lected Bushnell, charge the bank. the following day, the money turned by the the Utah the the claim Mrs. the matter Brickey the time filing the being that her filed the had than month the expiration the September filed her October the that year. local had would attend to the said Brickey preference Mrs. the Holland that officers she the bond said stated which posed Patterson deposit certificate matter the the taking claims of the In and state. the and the court filed by agreement, be judgment decision of the pending the ferred the case the supreme Poplar court Bluff against former finance comThe claim the Federal Reserve Bank Louis against Holland for deferred go the supending the judgment alleged similar preme Bank Oran, the which is pending the high court.
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EARLY DAYS IN SPRINGFIELD and is one of the largest, if not the very largest, realty holders in this section. For many. years he conducted hardware business in the building now being vacated by the American Savings Bank. He and the late Ely Paxson were married at the time and their golden wedding anniversary few years ago was notable event among the pioneer families. Dr. Robert Williams, son, is a prominent local physician and county health officer, Other children are Mrs. Lon Briggs, Mrs. Robert Love, Springfield, and Mrs. Roy Cox, of Trinidad, Hundreds of new buildings of all kinds, mostly frame, were going up on street and in Its Immediate vicinity. The townsite was being enlarged and lots were being sold for mile around. People lost their senses, apparently, when cow pastures and cornfields were invaded for more boom territory. The folly of this was apparent enough later when the town had sobered up sufficiently to realize that its breeches had been cut too long. Erstwhile realty boomers sat around and whittled goods boxes, played mumble-peg and pitched out in the center of business streets, while the sheriff seized and sold the property of unsophisticated suckers, who bit and lost their all in inflated realty values. Twenty years of readjustment followed this period, and just as the sun of brighter day was o'er the financial horizon, the Cleveland panic struck with force and knocked the props from under everything. Confidence crumbled. Barring Bros. had collapsed, bringing on disaster. Local banks were failing dally, topping the elimax finally, when five banks went punk in one eventful day, during which strong men and women, frantic with grief and desperation over the loss of their savings, stormed and strong-armed the multitude that surged and yelled in futile effort in front of the crashing banks to recover their life ings. In what was reported to be the final effort on the part of enemies to wreck the Holland bank. known for generation as the Glbralter of financial institutions of the Southwest, John O'Day presented a $50,000 check, which he had figured could not be paid. When cashier laid down the gold, O'Day craw-fished and asked to deposit the money. Gen. C. B. Holland, calm and reserved. is said tc have spurned O'Day's request, and ordered him out of the bank with the admonition that he never darken the door again. Holland's by this time had the front windows piled high with gold coin and greenbacks to reassure depositors, which seemed to check the wild run on this bank. Meantime, other banks were having hard time of it, only three, out eight or ten survivedHolland's, National (O'Day's) and Central National. F. G. Bentley (Bank of Springfield) got off the firing line early, locked up quit without even a skirmish, Capt. George Jones, George and Bunch McDaniel and Joe Sheppard were running the Central National, which was strong McDaniel institution for years before. The combined resources of these men, together with those of the McDarfiel family, and the age-old conservatism and of the McDaniels, kept this bank out of the crash. The old, Burlingame bank on the North Side was the first to collapse and it fell with such a thud that it paralyized every bank. in town for an instant, finally turning out to be the worst failure ever known in this community. The American National or Crawford bank, didn't have any hand in this smash up, but came on later. and proved disastrous. Strong enmities among factions were aroused during these' days and there was great rush to lay the blame on each other. Lots of peo-> ple always helleved, and still bethat A. B. Crawford was made the goat in the smash-up of that bank, and that in reality the punishment that eventually came Crawford should have gone to the people actually responsible for the wreck. "That panic was one of the experiences of the good old days that wouldn't care to go through with Daniel, who is still active as the head of the largest bank now in this section, the McDaniel National. years tacked onto one's life makes whole lot of ditference. The world at large had been on jamboree. The Cleveland campaign closed with an appeal by the Democrats to (see the books' after twenty years of continuous power by the Republicans, who had been accused of everything from salary down to outright subsidary crookedness. The people took the spellbinders at their word and put Cleveland To the great credit of the Republicans, however, all the money was intact, not penny missing. But Cleveland was reformer and the financial world was skeptical and began to 'pinch.' Everything soon was topsy-turvy. Locally, we had been drunk on big boom and consequent inflated values, with credits bulging out, and naturally enough went into the ditch, head foremost. When we yelled for help there was nobody handy who throw out the lifeline. believe in a little spree, always have, and don't hesitate to go on one when the conditions are right, but keeping one's hand on the safety\ valve. as were, is the important thing. banker, have always tried stay out of deep water in order to offer protection the fellow who is ever ready to wade in over \his head. Springfield will continue to climb; Experience has been and always will be our greatest teacher. Let's all help push ahead. But avoid any campaign of extravagance. Too much stretching of credit is always fraught with danger, even in the best of times, and extravagancewell, extravagance, as everybody knows; eventually brings on distrust, disorder and financial ruin. in municipalities as well as families. Perhaps I'm a bit out of date and old-fashioned. can't help that. It came about naturally enough I'm not willing to concede that the old standards have become entirely obsolete.' But to work, be honest. love your neighbor, PAY CASH and save little out' of your earnings for that rainy day. Don't get in debt Just because It. is easy to do so; look the field over and you will find out that the housewife or smart business man that buys for cash always seems to be on easy street. Take this advice from YOUR BIG BROTHER and guarantee you live longer with less worries and can look your neighbor in they face, (To Be Continued.)
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STUART GILBERT GUNDERSEN, Treasurer and General Manager. TERMS: ZONES ZONES Und LEADER must follows: apply except society 1102 the Associated Press. published THIS DATE IN HISTORY August Island evacuated Americans preliminary treaty with England signed Paris Rice, governor born Was four times elected congress of Manassas, SecBull Run, ended Reports say the cranberry crop short, but hear thing about the short turkey until week. The Missouri Pacific holding up some of the viaduet plans. holding up the enforcement of the ordinances? small windstorms in Washington in order study them. This being done since congress adjourned. The General Motors corporation assets reached billion. fourth to do The others mentioned are United States American Telephone and Standard of New Jersey. The insurance companies are BEAUTY AND MONEY. Kan.. being praised because has voted to permit oil well to be drilled in one each block in the city. The wanted to drill wherecompanies they would, just as they ever erect filling stations in Springthe town of Oxford would rather be beautithan greasy and wealthy. Still oil well every block an quite lot and the town may be beautiful after all not so block used. Possibly ivy every and morning glories might wind around the shafts. used to and give an aesthetetc., effect to very delve into the instrument for filthy lucre. earth AUDIT should hardly have been It necessary for the grand jury call for an annual audit of all the books of the county That should done at the the officer. Under the term every plan when an officer present tires his report made final. This is poor busicepted and not the corporations conduct their ful fairs Beyond doubt nearly all officers have been honest the and are black past slips once in while sheep under present arrangements lucky he doesn't carry off are the furniture and There property. trust to luck. The grand jury favors an nual audit and probable most had supposed that system people had long prevailed. shock to bring requires about change and Greene county SURPLUS OF BANKS. The state finance commissioner believes Missouri has too many banks. been said, of the causes of many fallin the state. would not hard for the to about change. He could more strict in Inspection. Some the banks such small that they could hardly they did strictly banking business, flyers are taken side with depositors' money. Often the ventures are successful but sometimes they are not. The commissioner might down on such schemes and more rigid. This would bring about change quite soon as banks that kind would cease profitable. character, often to those terested the of failure. The loan may not made directly to officers of the bank. but, nevertheless, officers be interested. better inspection of banks has been public need. The has been the commissioners in the past have not had force large enough to do the work CLEAN COURT HOUSE. suggest cleaning up of the trash in the basement. recommend the finishing of the basement steps and the of walls and celling in painting court room and corridors. suggest that immediate attention be given to the roof the court house and that all leaks be broken glass light be replaced and that all ventilators and iron work be painted. "Accumulations rubbish the roof should be removed and the rubbish on the north side of the court house should be carted to city the grand jury report. tion from grand jury. Certainthe proper authorities should that the building clean and that water does not come down through the The grand jury finds necessary bawl the janitor. Rubbish certainly should not be allowed accumulate on the roof and in the basement. This should be evident that grand jury action necessary Greene county has fine, modcourt House, and should kept clean and decent. The grand jury found necessary to go into very small detail, indeed. Probably, the building has been into The wonder such thing should happen. THE town in Holland has been declared state of siege, move to control the mob spirit as result of the This anarchist reasoning Because anarchist murderers, several thousand miles away, made to suffer the full penalty the law. appears the thing to do to smash windows and destroy the property of people who heard of the case. logical the action of the bull in the china shop. The whole affair one inspired by foreigners, people connected with America or its stitutions. The echo in this country by foreigners ling of natives, do not think much of their homeland. Anarchy belong foreigners and not to America It has no country and will not place be tolerated. The American ple will meet the issue at any time as in the past, and now, without shrinking They are not be intimidated by "rough houses" and are quite capable of answering blow for blow which they may be depended upon There no desire, either, the anarchists in country. things do not them they know the way back to In other words. the criminal class of anarchists, and that includes most of them, like it they can lump it. RUSSIAN RELIEF. declared officers American relief that America's refusal to recogRussia due the conduct the soviet in dealing with relief which went into the country relieve the famine situation in the typhus stricken Volga and Ukraine districts. America gave millions for this relief and declared the soviet authorities were the supplies was only with great difficulty that any aid was extended where most needThe American authorities time threatened to discontinue the work entirely. This may be one reason for fusing to recognize Russia, there are others. The soviet has absolutely repudiated the loan to the czar during the war which contrary to all international country cannot avoid payment of debts by changing its form of government. Russia has quietly violated ternational obligations by trying cause revolution America and other countries Its word could never be relied All those must enter into the objection recognizing the soviet nation. would well for America more extending relief. Sometimes brings resentment and with Europe there appears to have been little or gratitude. The relief looked on matter of right and were denounced for doing more. the country which did this Springfield and all the state have received bit of vice. Letters were mailed 1,306 banks trust companies Saturday Cantley, finance commissionmethods to restore better banking conditions He pointed that there fewer bank ures in Missouri than seven rounding but urged more ficient management cases retirement from business order to increase the for the banks and trust Carelessness loans and making too loans injures than not enough credit, Cantley said, and investments should bank "Upon the solvency loans pends the the Cantley said. rarely injure bank with good loans, reports banks being closed 'runs' generally smoke screens cloak the cause. No business ever permanent that built weak credits never has been never be Commissioner Cantley said the country banks are in good shape the city bankers have little worry about The commissioner's advice tainly sound will be recalled the statement made generally believed that "shop started the Holland Bank which M. who came to Springfield day two after the declared those who had started stories the bank's condition should prosecuted. turns out the bank's trouble was caused just Mr. Cantley says bad loans. had not been loans the run would have been successfully other banks have done There much truth the generally believed statement that bank stand run. has been done Springfield eral times and could be again day There much complaint about Highway No gravel road and full of holes The rains have almost put out of business Repairs come time. The Kansas City Star the latest newspaper attack the Ozarks The with other Kansas City newspapers, has held product and nothing to Misletter from Buffalo Dallas county the Star says among other things: "Pride in being kin to the first settler who might have been tant relative Daniel Boone, Davy Crockett, next being the son Dallas County's most honored and lustrious citizen. especially he been in the state legislature, another the instinct worship blood "Their of the English language not fault of theirs. God himself that they should live have their being in world strictly of their making and their That 'shore' should mean you: 'gwine,' going; and other should taken seriously but rather lack outside as people the outside world ever their country and still fewer natives ever remove from Transients scarce tourists avoid account of its inacessibilfor motor cars. Sunday morning, and into the country lying northeast Buffalo, county seat principal trade cen2,000 scattered along the course the Niangua River the state park around Bennett's Dallas, and counties converge in corner. more typical perhaps the true type Ozark Mountain district than any other section of the entire hill country. "Buffalo quaint and drowsy, had retired one of those ally mellow and glorious July sunand had arisen in such stimulating atmosphere only an Ozark sunrise can bring. necessary for one to City find bad English Where the language butch ered more than large city one with least the pretentions The truth of the Kansas Springfield St. Louis have many Dallas county people citizens The JeffCity correspondent of the Star probably talked with Assistant Attorney General Lovan many times without anything cullar queer, yet Dallas county man. The list might be tended but has habit for Louis and Kansas City newspapers hang their hill billy stories the Ozarks cant Here another observation by the "Out past the grounds we the tumbly log cabin Joab founder of its first tailor, and horse racer and into the brakes Greasy Creek, which got its hundred years ago by rampaging through the smokehouse bacon Martin first of Dallas county. log house small clearing. much worse for long cultivation. all that visible original homestead: lone occupant, lank evidently 111. sat with bowed head propped against "Feeling and fever?" asked Nobody around here ever many healthful springs bracing mountain air. Thar hain't sick person. or graveyard around anywhar these diggins. Didn't see any, did I've only got the bit underand lef?" Waldo put over the cabin and thrusting arm through crack puncheon the man brought flask native liquor. looked and smelled that way evidently the kick Missourt mule. Waldo's lips smacked gulp. own make, eh?" not Honey dew grows here hickory trees. we have boil the leaves and add little homemade sorghum syrup county sleuths don't they're out tion, the too busy the big fish bother tin"Over hills, through deep. dark canyons and post oak plunged and heaved. Through abandoned lead and zinc diggings, where the settlers the lead and molded bullets for their flintlock crossing recrossing the old grade Dallas county's abandoned with the Niangua river winding like serpent through fertile its swift. winding "Through areas wild going waste thousands of gooseberries, wild plums and green (Missouri bananas). bareheaded barefooted. clinging on the roofs of clap. spreading the fruit to and years sitting, pulling their old stone filled 'hillside' navy tobacco. Fakers have never injured the Ozarks, which spite yarns kind. They thread worn would should be retired on pension.
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Holland Bank Receivers Seek to Recover Action Against St. Louis Institution Is Started in Court At Columbia COLUMBIA, Mo., Nov. 29.-The case of the State Fnance Department and the receivers of the defunct Holland Bank of Springfield against the Republic National Bank of St. Louis was called for trial in the Boone County Circuit Court Monday, in an action in which the receivers for the defunct bank seek to recover $100,000 from the Republic National Bank. A short time before the closing of the Holland Bank it borrowed $100,000 from the Republic National Bank of St. Louis, giving as security the personal notes of directors. The deposit was left on cred+ it at the St. Louis bank and not removed to Springfield as the Holland Bank desired a city reserve. When the Holland Bank failed the St. Louis Bank, acting to protect its interests, notified the receivers of the bank that it was applying the deposit on the notes of the board of directors who had borrowed the money. The receivers of the Holland bank are now attempting to uphold their contention that the deposit was an asset and that the Republic National Bank had no right to apply the money on the notes as the money was the property of the Springfield bank. The plaintiffs set out that the St. Louis bank should take its losses just as any other creditor or depositor of the Holland Bank.
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itself and which finds its the pockets of the big protected while only little more than dollars goes into the treasury people." history of the Republican control government, the speaker has "checkered corruption from the beginning of the has not been decade," he the Republican party was that there has not been corrupBeginning with the whisky frauds and impeachment and discabinet officer under Grant's the credit mobilier which followed: Dudley and his of voters in blocks five in the beginning of the corrupt large sums of money in elections Hanna in 1896; the tainted of the War: infamy of all which began the Harding administration. when of bribery and corruption led the very cabinet rooms of the riculture. he declared. had suffered depression since the deflation of farmer's problem," stated RepreByrns, President has turned deaf ear to the Secretary Jardine nor SecreHoover, was referred to for President, anything farm problems, he asserted. ealizing that nothing of great connature in either domestic or affairs could be expected under leadership. extraordinary have been made to impress the with federal economy," added esentative Byrns. CANDIDATES ARE INTRODUCED. of the candidates for various ofaccorded liberal reception introduced. The candidates were Dwight H. Brown Bluff, candidate Elmer Jones, George Vest, for attorney general; Mr Wilson, Mr. McCawley, Mr. Sanders, Mr. Jacobs probable candidate for United and Rolla, for letters of regret inability to read. Among them Stephen B. Hunter of Cape potential candidate for govAmong other messages from McElroy, city mánager City: N. Gossett, George and Henry Jost of Kansas from Lue Lozier, potential for attorney general the big Springcitizens, gave their places at dining visitors. ringfield Greene County as proved most host. dinner, which was in the Shrine was served by women city. M. Greene compresided Hamlin. former sentative from the seventh duced Representative Byrns. BANK RECEIVERS LOSE. Bank Upheld in Applying Deposit Notes. the Associated Mo., Jan. .-Receivers defunct Banking Springfield, Mo., lost their suit $100,000 in loans which directors secured on personal prior to the failure the bank which was left deposit in the National Bank St. Louis, David H. Harris late suit was instituted by State F1Commissioner Cantley in the receivers. the Holland bank borrowed from the St. Louis bank, giving personal notes as security The remained on deposit in the Repuband when the Holbank failed. the St. Louis instituthe receivers that was the deposit on the notes members who had borrowed money. for the receivers sought to the asset the bank and the St. Louis bank legally apply the deposit on the
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FINANCIER FROM MISSOURI DEAD Jacob I. Hine, Springfield Banker, Is Viotim of Meningitis Jacob 47 years former banker financier Springfield, Mo., and member family that day Tulsa city, Tuesfrom which he had been meningitis, suffering Hine had been Tulsa three months, the Life Insurance fund for Akdar Hine had been owner vice president of the Holland Bankcompany that city until the suspended from Tuesday night. the hospital time his death were Mrs. Mary Hine his personal physician and special nurse. Besides his widow and mother. of Springfield. will turned to Springfield the Stanley Elks Club Safe Robbed. SAPULPA. Nov. today investigating the night the local Elks front building where screen had by the burglars appears the only the officers. About $250 stolen. Kiefer Man Is Injured. Shawn Kiefer and the car he driving local struck another machine. Shawn's car was thrown across the street by the crush. The driver the other failed to stop. Flying glass from was for injuries. Tulsa County Vote. President. Herbert For Charles For Criminal Court Appeads. For Justice Thomas For County Judge. County Attorney. Thomas Byron patrick, Court Clerk. Turner, Montague, Charles For County Treasurer. County Bowles, For Surveyor Shaver,
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Seek to Recover Cash for Creditors Of Holland Firm Final arugments will be delivered Wednes May 8, before the state supreme court at Jefferson City in the litigation brought by E. Cahill, liquidating officers for the Holland Banking company. to recover more than $5,000 from the Continental Banking company of Kansas City Involving accumulated interest, nearly $100,000. the suit is before the state supreme court on appeal by the Continental Banking company after the Holland bank receiver won judgment for the amount asked in circuit court. Orin Patterson, John H. Farrington, Arthur Curtis and Mr. Cahill will leave Springfield Tuesday for Jefferson City. The Continental Bank of Kansas City is accused in the litigation with charging personal note against the account of the Holland company a short time before it failed. The note was for $75,000 and was against an officer of the bank The defense conthat was in fact debt of tends
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Holland Bank Receiver Wins Victory The Holland bank receivership of Springfield today won $110,000 victory in the United States preme court at Washington By refusing to review the Missouri supreme court's recent decision in the Holland Banking company's suit for $75,000 and interest against the Continental National bank of Kansas City, the highest tribunal ordered the Kansas City bank to pay over to Cahill, liquidating officer in charge the defunct depository The judgment thus obtained against the Continental bank of Kansas City the result of long legal battle by attorneys for the Holland receivership. charging that $75,000 of the Holland bank's funds was used wrongfully to pay personal indebtedness of Sanford, former Holland president, to the Kansas City bank. Early in 1922, when Sanford purchased stock in the Holland bank from Hine and Clarence Randall. he assumed obligation for $100,000 loan which Mr. Hine and Mr. Randall had obtained from the Continental National bank. Later the same year. was charged by Holland bank receivership. the Kansas City bank appropriated $75,000 of Holland bank funds on deposit with it and applied the amount upon Mr. Sanford's personal Another Suit Pending Suit to recover the was brought by the receivership. and the case first tried in circuit court Sedalia, where attorneys for the Holland company were victorious in their contention that Sanford's $100,000 note was personal matter and not the obligation of the Holland company. Attorneys for the before house committee Continental bank carried the case on an appeal to the state supreme court, where the decision recently was affirmed. Another appeal taken by the Kansas City bank the United States supreme court, refused to review the litigation and consequently ended similar suit against the Republic National bank of Louis, involving now pending the state supreme court. with decision expected within the next 30 are some factors in appear less favorable to the Holland bank. was decided against the Springfield receivership by the original trial court. Doesn't Want Calls When the collection is made from the Continental bank. Mr. Cahill said here this afternoon. will enable the Holland bank to complete payment of the 40 percent advance made to depositors by the McDaniel National bank. Depositors who did not accept the McDaniel bank's percent offer will receive 10 percent dividend at the same time. Mr. Cahill pointed out, however. that he could not tell definitely how soon the collection would be completed, and that it would do positors no good to make inquiries regarding the prospective dividend until it announced formally. "The checks will be mailed out Just possible to make collection and issue them." Mr. Cahill said. "No action by the positors is required and we would appreciate they would not keep us busy with useless telephone calls."
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Holland Bank Receiver Wins $110,000 Victory The Holland bank receivership of Springfield today won a $110,000 victory in the United States supreme court at Washington. By refusing to review the Missouri supreme court's recent decision in the Holland Banking company's suit for $75,000 and interest against the Continental National bank of Kansas City, the highest tribunal ordered the Kansas City bank to pay over $110,000 to J. E. Cahill, liquidating officer in charge of the defunct depository here. Long Legal Contest The judgment for $110,000 thus obtained against the Continental bank of Kansas City is the result of a long legal battle by attorneys for the Holland receivership, charging that $75,000 of the Holland bank's funds was used wrongfully to pay a personal indebtedness of E. L. Sanford, former Holland president, to the Kansas City bank. Early in 1922, wren Sanford re- purchased stock in the Holland bank from J. L. Hine and Clarence Randall, he assumed obligation for a $100,000 loan which Mr. Hine and Mr. Randall had obtained from the Continental National bank. Later the same year, it was charged by the Holland bank receivership, the Kansas City bank appropriated $75,000 of Holland bank funds on deposit with it and applied the amount upon Mr. Sanford's personal obligation. Another Suit Pending Suit to recover the $75,000 was brought by the receivership. and the case first tried in circuit court at Sedalia, where attorneys for the Holland company were victorious in their contention that Sanford's $100,000 note was a personal matter and not the obligation of the Holland company. Attorneys for the Continental bank carried the case on an appeal to the state supreme court, where the decision recently was affirmed. Another appeal was taken Kansas City bank to the United States supreme court, which today refused to review the litigation and consequently ended it. A similar suit against the Republic National bank of St. Louis, involving $100,000, now is pending in the state supreme court, with C. decision expected within the next 30 days. There are some factors in this litigation, however, which make it appear less favorable to the Holland bank. It was decided against the Springfield receivership by the original trial court. Doesn't Want Calls When the collection is made from the Continental bank. Mr. Cahill said here this afternoon. it will enable the Holland bank to complete payment of the 40 percent advance made to depositors by the McDaniel National bank. Depositors who did not accept the McDapiel bank's 40 percent offer will receive a 10 percent dividend at the same time. Mr. Cahill pointed qut, however, that he could not tell definitely how soon the collection would be completed, and that it would do depositors no good to make inquiries regarding the prospective dividend until it is announced formally. "The checks will be mailed out just as soon as it is possible to make the collection and issue them," Mr. Cahill said. "No action by the depositors is required and we would appreciate it if they would not keep us busy with useless telephone calls.'
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MISSOURI COURTS UPHELD U. S. Supreme Court Refuses to Review Springfield Bank Case The United States supreme court has refused to review the Missouri supreme court's ruling in the case of bank receiver, at Springthe Holland field, against the Continental National Bank of Kansas City for $75,000 in all to and interest, amounting $110,000, as money on deposit by the Holland bank which the defendant institution had applied to pay an obligation of E. L. Sanford, president of the defunct bank. The state courts found for the Holland institution in the suit. A similar suit against the Republic National bank of St. Louis, involving $100,000, now is pending in the state supreme court, with a decision expected within the next 30 days. There are some fatcors in this litigation, however, which make it appear less favorable to the Holland bank. It was decided against the Springfield receivership by the original trial court. Press want ads bring results.
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GET MORE TIME IN HOLLAND CASE Attorneys for the Continental National Bank of Kansas City have been given until May 28 to file answer to a suit brought for the Holland Banking company here asking appointment of federal receiver for the Kansas City institution. The receiver has been asked by J. E. Cahill, Holland bank receiver, to force collection of $110,000 judgment obtained by the Holland receivership against the Continental National bank as result of the latter's alleged action in using Holland bank money to personal obligation of E. L. Sanford, former Holland bank president. John S. Farrington of Spring- field is attorney for the Holland bank receivership. SAW FIRST OIL etta Mason, 88, who in 1859 as girl of 17 saw the drilling of what probably was the first producing oil well in the world, hopes that she will see one more oil boomand that in Nebraska Among the crowds of people who have visited the test well being drilled northwest of here by Harry T. Osborn was Miss Mason. She was 17 when E. L. Drake, : Pittsburg, Pa., brought in America's first oil well near Oil City, Pa. She resides with her nieces at Newport and Bassett, Neb. A beacon light to be installed on top of the new Kansas City Power and Light building will throw beam extending 50 miles in all directions.
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CLAIM AGAINST AURORA ACTION GROWS OUT OF FAILURE INSTITUTION TO DEPOSIT INTEREST. Jefferson City, claim for against the closed Bank Aurora been prepared Cantley, acting State Treasurand Attorney General Stratton Shartel for filing in the Lawrence County Circuit Court. Arthur M. Curtis, chairman of the State Republican Committee and special Assistant Attorney will file necessary papers, Attorney General Shartel said. The claim grows out of failure the bank to pay proper interest state deposits from January to June this year, the date its closing. The irregularities under the Stephens and Larry Brunk the State Treasurer's office. Included in the balance state funds when closed which state chargwrongfully collected from collateral securities belonging state that the bank had state further alleges the bank propriated that sum to use others, and the state interest on daily claimed. The claim on interest arises from the failure of the Bank Aurora interest at the proper rate pay during the administrations Steand and for failphens interest on funds colure pay lected from liquidation of the curities of the closed Holland Bank Springfield during the Stephens administration. preferred claim asked the based on failure of the bank give credit for that amount the state and