Greene County Bldg. & Loan Ass'n v. Cantley

• Citation: 62 S.W.2d 931,228 Mo.App. 14
• Parties: GREENE COUNTY BUILDING & LOAN ASSOCIATION, APPELLANT, v. S. L. CANTLEY, COMMISSIONER OF FINANCE OF THE STATE OF MISSOURI, IN CHARGE OF THE LIQUIDATION OF THE BLOOMFIELD BANK & TRUST COMPANY, RESPONDENT
• Decision Date: 19 August 1933
• Court: Missouri Court of Appeals

62 S.W.2d 931

228 Mo.App. 14

GREENE COUNTY BUILDING & LOAN ASSOCIATION, APPELLANT, v. S. L. CANTLEY, COMMISSIONER OF FINANCE OF THE STATE OF MISSOURI, IN CHARGE OF THE LIQUIDATION OF THE BLOOMFIELD BANK & TRUST COMPANY, RESPONDENT

Court of Appeals of Missouri, Springfield

August 19, 1933

Appeal from the Circuit Court of Stoddard County.--Hon. John A McAnally, Judge.

AFFIRMED.

Judgment affirmed.

Hamlin Hamlin & Hamlin for appellant.

Wammock & Cooper for respondent.

BAILEY J. Allen, P. J., and Smith, J., concur.

OPINION

BAILEY, J.

This is a suit for preference by the Greene County Building & Loan Association, of Springfield, Missouri, against the assets of the Bloomfield Bank & Trust Company, engaged in the general banking business, which closed its doors on the 2nd day of December, 1930, and was taken in charge by the Commissioner of Finance for the State of Missouri, for liquidation and settlement of its affairs. The claim was duly and properly filed with the Commissioner of Finance, who allowed the claim as a general claim only. This cause was then filed in circuit court and on due trial judgment was for defendant and plaintiff has appealed.

Plaintiff's right to a preference is based upon the following allegations in its petition, to-wit: "Plaintiff says that long prior to the 2nd day of December, 1930, it had employed and appointed the Bloomfield Bank & Trust Company, as its agent and representative at Bloomfield, Missouri, with authority to said Bank to collect from members of the plaintiff any and all dues and interest due plaintiff from said members, and agreed to pay the said Bank as remuneration for such services one and one-half per cent on all sums so collected, and said Bank was to furnish and did furnish plaintiff with a statement each month of all sums so collected, said statement being made on prepared forms used by plaintiff, and upon receipt of said statement from the Bank plaintiff drew a draft monthly for the amount so reported, less the commission of one and one-half per cent paid as aforesaid.

"That on the 2nd day of December, 1930, when said Bank closed its doors it had in its possession money received as aforesaid as plaintiff's agent, in the sum of $ 530.69, which money was on said date and is now the sole property of plaintiff."

The evidence tended to prove that the Bloomfield Bank & Trust Company was engaged in the general banking business at Bloomfield, Missouri, for a long time prior to the 2nd day of December, 1930, when it closed its doors and was turned over to the State Finance Commissioner. At that time said Trust Company had in its possession the sum of $ 530.69 deposited to the credit of the Greene County Building & Loan Association. It further appears that plaintiff had a number of stockholders residing in and near Bloomfield; that said stockholders paid plaintiff monthly interest and dues on their stock and made said payments through defendant bank under an agreement by which the bank received said collections for plaintiff at the window and deposited them as received to the credit of plaintiff; that said bank made daily reports of the collections on blanks furnished by plaintiff for that purpose and at the end of each month plaintiff drew a draft against defendant bank for the total amount collected during the month less one per cent commission paid defendant bank for receiving the collections and making reports as aforesaid. The evidence further shows that plaintiff had the sole right to draw against the fund so deposited, but no checks were drawn at any time except the monthly draft and commission check. The treasurer of the Trust Company testified, however, that the ...