55 S.W.2d 711 (Mo.App. 1932), Duzan v. Cantley

Citation:55 S.W.2d 711, 227 Mo.App. 670
Opinion Judge:TRIMBLE, J.
Party Name:J. M. DUZAN, APPELLANT, v. S. L. CANTLEY, COMMISSIONER OF FINANCE, ETC., RESPONDENTS
Attorney:Howell H. Heck for appellant. J. R. Hales, Lyman J. Bishop and D. C. Chastain for respondent.
Case Date:December 19, 1932
Court:Court of Appeals of Missouri
 
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Page 711

55 S.W.2d 711 (Mo.App. 1932)

227 Mo.App. 670

J. M. DUZAN, APPELLANT,

v.

S. L. CANTLEY, COMMISSIONER OF FINANCE, ETC., RESPONDENTS

Court of Appeals of Missouri, Kansas City

December 19, 1932

          Appeal from Circuit Court of Bates County.--Hon. W. L. P. Burney, Judge.

         AFFIRMED.

          Judgment affirmed.

         Howell H. Heck for appellant.

         J. R. Hales, Lyman J. Bishop and D. C. Chastain for respondent.

          OPINION

          TRIMBLE, J.

         In this action, plaintiff, (a holder of a certificate of time deposit of $ 602.53 in the Peoples Bank of Rich Hill, Missouri, at the time it closed its doors on April 27, 1930, and defendant Cantley, State Commissioner of Finance, was placed in charge thereof), sues to have said deposit declared a preferred claim against the assets of said defendant bank. Special Deputy Commissioner of Finance, Keinberger, was placed in charge, but he was afterwards removed and others put in his place, and then the said special deputy was reinstated and again placed in charge of said bank's affairs.

         When the bank closed, and at the time of the trial herein, the bank had enough money on hand to pay all preferred claims, together with the expenses of liquidation, and also to settle plaintiff's as a preferred claim.

         Plaintiff was the beneficiary in a policy of war risk insurance on the life of his son, a member of the American Expeditionary Forces in the Great War; and, upon the son's death, payments of $ 57.53 per month were paid to plaintiff by Government on account of said policy. Plaintiff placed $ 575 of savings arising from these monthly payments in said bank on time deposit, and when that matured, the accumulated interest was added and the whole amount, aggregating $ 602.53 was again put in a time deposit, the certificate therefor being [227 Mo.App. 671] for said sum, viz., $ 602.53, and was derived wholly from the saving of the funds paid to the plaintiff by the U.S. Government as aforesaid. Plaintiff informed the cashier of said bank, at the time of making the time deposit therein, of the source of said funds and the nature of said account. When the bank failed the whole of said sum represented by the said certificate of time deposit went into the hands of said Commissioner of Finance, and he now has the said fund in his possession.

         After proper notice for the presentation and allowance of claims, the one involved herein was duly, and in proper time, presented to, and was allowed...

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