In re Liquidation of Gower Bank, 17708.

• Decision Date: 12 December 1932
• Docket Number: No. 17708.,17708.
• Citation: 55 S.W.2d 713
• Parties: In re LIQUIDATION OF GOWER BANK OF GOWER. CONSOLIDATED SCHOOL DIST. NO. 2 OF CLINTON COUNTY v. GOWER BANK OF GOWER et al.
• Court: Missouri Court of Appeals

55 S.W.2d 713

In re LIQUIDATION OF GOWER BANK OF GOWER CONSOLIDATED SCHOOL DIST. NO. 2 OF CLINTON COUNTY v. GOWER BANK OF GOWER et al.

No. 17708.

Kansas City Court of Appeals. Missouri.

December 12, 1932.

Appeal from Circuit Court, Clinton County.

"Not to be published in State Reports."

Action by Consolidated School District No. 2 of Clinton County, Missouri, against the Gower Bank of Gower, Missouri, and another. From a judgment for plaintiff, defendants appealed to the Supreme Court, which transferred the cause to the Kansas City Court of Appeals .

Affirmed.

Culver, Phillip & Voorhees, of St. Joseph, for appellants.

Daniel H. Frost, of Plattsburg, for respondent.

CAMPBELL, C.

Plaintiff is a school district organized under the provisions of chapter 57, R. S. Mo. 1929 (sections 9194-9735 [Mo. St. Ann. §§ 9194-9735]). The defendant Gower Bank was a banking corporation organized under the law of Missouri. Said bank on February 24, 1931, on account of its insolvency, closed its doors and its assets were placed in the hands of the commissioner of finance for liquidation.

On April 14, 1931, plaintiff's treasurer, Curtis Poe, filed three claims in the total sum of $10,131.31 with the commissioner in charge of the defendant bank. As presented they were common claims and were approved as such on September 16, 1931.

On September 9, 1931, plaintiff instituted this proceeding in the circuit court, seeking to have allowed as a preferred claim against the assets of said bank the sum of $10,131.31. The cause was tried to the court, resulting in decree for plaintiff as prayed. The defendants sought and were granted an appeal to the Supreme Court. The Supreme Court transferred the cause to this court for the reason that it did not have appellate jurisdiction thereof. 53 S.W.(2d) 280.

The record discloses that Curtis Poe, as treasurer, received the public revenue due plaintiff and deposited it in the Gower Bank, of which bank he was cashier; that at the time the bank closed the balance of the fund on deposit was $10,131.31; that the defendant bank had not been selected as the depositary of the moneys of plaintiff district, nor had it executed bond conditioned for the safe-keeping of the fund; and that there was in the hands of the commissioner sufficient funds to pay plaintiff's claim if preference was decreed.

Upon facts in legal effect the same as the facts in this case, we held that plaintiff therein was entitled to have its demand allowed as a preferred claim. Clearmont School District v. Jackson Bank of Clearmont (Mo. App.) 37 S.W.(2d) 1006. The principle announced in the Clearmont School District Case recently met approval of the Supreme Court. In re Cameron Trust Co. (School District of Cameron v. Cameron Trust Company et al.) 51 S.W.(2d) 1025, 1027.

Defendants insist that plaintiff was not entitled to have a preference for the reason that it had not filed claim therefor with the commissioner; that the claims filed by Mr....