Holland Bank - Holland, MO

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 1, 1924*
Location: Holland, Missouri (36.056, -89.871)

Metadata

Model: gpt-5-mini
Short Digest: 994ff785

Response Measures

None

Description

Article is a court-trial report about the Holland Bank after it closed in January 1924. The text describes the bank having closed on January 1924 and testimony about contested notes, forgeries, loans and asset values — indicating bank-specific insolvency/irregularities. No explicit contemporaneous depositor run is described in the excerpt; the bank appears to have closed permanently and is the subject of legal proceedings.

Events (1)

1. January 1, 1924* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Legal disputes over forged notes, contested loans, deteriorated assets and insolvency leading to bank closing in January 1924; trial testimony concerns missing/forged notes and asset valuations that precipitated closure or followed it.
Newspaper Excerpt: the bank finally closed on January 1924
Source: newspapers

Newspaper Articles (1)

1. April 16, 1925 Springfield Leader and Press Springfield, MO

Article from Springfield Leader and Press, April 16, 1925

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Article Text

TESTIMONY OF DEFENSE NOW NEARING END (Continued from Page 1.) Walter, who was on the stand but few minutes. He was asked If he had knowledge of $2,000 note bearing his name found among the assets bank. He declared that he did not sign the note, nor did he authorize anyone else to sign for him. Following Walter's testimony stated that wished exhibit the jury the notes" and deeds trust which pledged by the and at length during Tuesday's session of the Judge Alfred Page. defense attorsaid the wanted offer objection the exhibition of some notes, and the first of contests the attorneys first the wood. stating that tifled that the property was worth more than the deeds trust called for. Roscoe Patterson offered gument were overruted by Judge Three notes same line. the Mabel Judge stated that been pre sented showing the of properties His objection contest was started Patterson and all of the notes 000 allowed to be shown to Cabill Cahill the stand and Lincoln rected series questions based upon the critical Millspaugh letter. read the jury Tuesday Cahill testified as the indebtedness officials of the bank and found the cash of the "In Letter. "attention to that McJimsey for bank stock. that bank when closed?" Cahill replied that Millspaugh his letter the rectors, advised that dividends should be owing to the dition the affairs. divi. dends by the bank after 1923. the of the receipt of the former contest Judge reminded the ruling was passed Tuesday dividends paid by the bank Lincoln much evidence and his Cahill He the dividends and the other January 1924 the loans the bank decreased Cahill replied that the loans were The contest of the started Lincoln asked bank ed had directed nance. Judge Page began effect point letter expressd opinion that point Judge said not the which dismissed about minutes the arguments as spaugh's the dis position bonds evidence Page and Scott argued that the question which would decide the deposited safe bank the had legal right use Scott during the December tria similar question as tomers declared instances did their bonds but for Lincoln declared that the state would bond receipts titled they for they safe keeping Judge offered the and the trial proceeded. Cash Items Identified. and describfound but reality penditures. The the $60,000 ticket Wear directed the cross examin ation the asked Mitchell and Wright had which replied that testified regarding the bills payable for bank Wear asked Cahill that all Collins Bushnell called back to the for further cross him regarding depositor's the closing the bank by the de committee." Questioning Bushnell concerning which he held were not fact he did everything his power against efforts of committee the bank offered objection declaring that question the Judge Page the court the defense desired the witness personal and the objection of the state Bushnell declared that he did not depositors from and stated assets the bank to the committee cause the statutes prevented his doing. "You remember Mr. Ferguson told asked for list of you the country banks and you refused let him have Wear ask. ed. Bushnell stated that under the law he could such ation to anyone. he Ferguson's for the list. gave didn't Wear George asked. which Bushnell clared not mat- but financial McDaniel went of the affairs the bank. through Wear Bushnell that Mr. the assets of the shown State Case. last called by the The state were Taber and Miss Marghret Gault Miss Gault and Gottfried testified had with prior they to closing of the bank. which times he told them the bank was and that rumors good the bank false. concerning Mr. Taber to the bank in and the he John Cahill the state for following additional regarding the in. of Ferguson those related to the defendant. the state its had been completed. the exception witness Grant of the Bank of Fair Grove, Mo. testified bonds total $21,050 which his bank deposit with the Holland. and receipts for these bonds yere exhibited Defense Calls Witnesses. Only witnesses by the during the morning W banker of Thayer. B. Mr. questioned by Judge Page his opinion value the Bank Alton, where the formerly lived. Sixty shares of the stock the Alton the Boyd of In the Holland which declared worthless Mr. Highfill declared that before Mr. Boyd's death the stock Bank of Alton worth share and that he considered the Boyd loan to be good made Mr. Tadon testified to hotel property in Pueblo secured $7,500 loan the bank He stated that made trip vice ident of the bank personally the the which had questioned by "One state Mr. Tadon declared he thought the property than the loan never values discussed largely throughout the afternoon Wednesday witness of the afternoon. regarding his $5,400 and he had out in by his estate protect the loan, which he said he would tually of the Inter- the now. in process which cussed length during the trials testified My former president Daily declarthat the loans made Milling the corporation than the approxibered the the pany Cahill and part ment. sold for the benefit creditors Judge Tentifies. Judge Arch 3,000-acre regarding farm in Ore. the which secures large this land worth declared $15 an denied. ined by Patterson. that be tried the property for $10 Johnson said that offered that amount, but didn't sell near The Springfield the Haseltine lands testified to by several the Springfield that an tract in his not less than $80 an that the the land $200 and $250 acre McBride that the round figures about Others testified garding of and testimony the trials were: Frank Hamel, Elwyn Vaughn, W. Shook and Edmondson. Cowden, formerly for testified the Ferguson Furniture regarding the value assets that which the bank amount, which the large clos. Ing of institution has become Otto Morris of the Optical Shop testified the of his firm which amounts $1,400. said that the assets this company are that the will eventually Nelson Called. Harry Nelson. formerly note teller the Holland bank. the last called Wednesday ernoon by the defense, and he tified regarding notes which told of made former president the Sunday, January Mr. Nelson stand for than and the of his testimony was practically the same as given by him in the other bank trials. Nelson various and sundry and gave their origin He the bank and the decline deposits the in withfor the before the bank finally closed on January 1924 When asked Wear regarding alleged Nelson declared that had reason suspect that some of the notes In his case forgeries during by that he and of L and he Iden-