10302. Continental National Bank (Kansas City, MO)

View Charter #4786 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
4786
Charter Number
4786
Start Date
May 14, 1930
Location
Kansas City, Missouri (39.100, -94.579)

Metadata

Model
gpt-5-mini
Short Digest
5ee10a01

Response Measures

None

Description

Articles state the Continental National Bank of Kansas City was already closed and in voluntary liquidation; Holland Bank (receiver) sued to appoint a federal receiver and collect judgment. No bank run is described. Chronology: bank closed/voluntary liquidation (by 1930), legal actions and receivership petition (May 1930), later court judgment actions (1932).

Events (6)
1. August 2, 1892 Chartered
Source
historical_nic
2. November 11, 1892 Voluntary Liquidation
Source
historical_nic
3. May 14, 1930 Receivership
Newspaper Excerpt
Appointment of a receiver for the closed Continental National bank of Kansas City ... was requested in suit filed in federal court at Kansas City yesterday. The action was brought by John S. Farrington of Springfield, attorney for the Holland bank receivership. (Springfield Leader and Press, 1930-05-14).
Source
newspapers
4. May 14, 1930 Suspension
Cause
Voluntary Liquidation
Cause Details
The bank was in voluntary liquidation (described as 'closed' and 'in voluntary liquidation' in the articles).
Newspaper Excerpt
Appointment of a receiver for the closed Continental National bank of Kansas City...
Source
newspapers
5. May 28, 1932 Other
Newspaper Excerpt
SUIT of the closed Holland Banking company of Springfield for collection of $97,000 judgment against the Continental National bank of Kansas City moved a step nearer its goal yesterday when motions seeking dismissal of the suit were overruled in federal court in Kansas City. Continental National bank was liquidated voluntarily several years ago, but S. L. Cantley, state finance commissioner, nevertheless filed suit May 13, 1931. (The Springfield News-Leader, 1932-05-28).
Source
newspapers
6. June 5, 1932 Other
Newspaper Excerpt
COURT JUDGMENT BIG AWARD HOLLAND BANK ... The court yesterday afternoon decided the case in favor of Mr. Cahill. ... the Continental National which has been liquidated voluntarily for some time, attacked the Holland bank's judgment on the grounds that the debt already had been paid by Ed Sanford, former Holland bank president. (Springfield Leader and Press, 1932-06-05).
Source
newspapers

Newspaper Articles (5)
1. May 14, 1930 Springfield Leader and Press Springfield, MO
Article from Springfield Leader and Press, May 14, 1930

Click image to open full size in new tab

Article Text

Holland Bank Asks Receiver to Obtain $110,000 Judgment Appointment of a receiver for the closed Continental National bank of Kansas City, who would be empowered to sue Continental stockholders for the amount of a judgment due the defunct Holland bank of Springfield, was requested in suit filed in federal court at Kansas City yesterday. The action was brought by John S. Farrington of Springfield, attorney for the Holland bank receivership. The Continental bank now is in voluntary liquidation, the suit related, and a total of $430,000 has been paid out to stockholders without any provision for payment of a $110,000 judgment obtained against the bank by the Holland bank receiver. This judgment was granted the Holland receiver by the courts because the Continental bank used funds on deposit for the Holland bank to pay off a personal obligation of E. N. Sanford, former Holland bank president. Mr. Farrington in the sult at Kansas City asked that a federal receiver for the Continental bank be named to conserve the remainder of its assets and bring necessary proceedings against its stockholders to force them to pay back enough of their dividends to meet the Holland debt. The suit is to be heard Friday before Federal Judge Albert L. Reeves at Kansas City. NOTED CHEROKEE DIES MUSKOGEE, Okla., May 14-(AP) -Robert Bruce Ross, 85, a grandson and the last close descendant of John Ross, famed chief of the Cherokee Indian nation, died last night at the home of & daughter near Tahlequah, following an attack of acute indigestion. Bicycles in many colors are appearing in London.

2. May 18, 1930 The Springfield News-Leader Springfield, MO
Article from The Springfield News-Leader, May 18, 1930

Click image to open full size in new tab

Article Text

GIVE BANK TIME ANSWER Holland Banking Company May Win Receivership Petition Attorneys for continental National bank of Kansas City late yesterday were given until May answer suit brought for the Holland Banking company Springfield to obtain appointment federal receiver for the sas City institution. To Force Collection Federal Judge Albert Reeves the bank that time to show why receiver should not be appointed. The ceiver has been asked by hill, Holland bank receiver, to force collection of $110,000 judgment tained by the Holland receivership the Continental National against bank as result of the latter's tion in using Holland bank money personal obligation of Sanford, former Holland president. Receivership Likely Mr. Cahill and John Farrington, attorney for the Holland bank receivership, were Kansas City yesterday for the hearing. Associated with Mr. Farrington in litigation the law firm of Leedy and Leedy, attorneys for the FedReserve bank at Kansas City. Settlement of the controversy fore May 28 by payment of the judgement due the Holland bank considered unlikely. so that deiver probably will be appointed when the case comes before Judge Reeves

3. May 19, 1930 The Springfield Press Springfield, MO
Article from The Springfield Press, May 19, 1930

Click image to open full size in new tab

Article Text

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.

4. May 28, 1932 The Springfield News-Leader Springfield, MO
Article from The Springfield News-Leader, May 28, 1932

Click image to open full size in new tab

Article Text

SKIRMISH IN SUIT FOR $97,000 WON BY HOLLAND BANK Motions to Dismiss Case Involving Fight to Collect Rich Judgment Overruled in Federal Court SUIT of the closed Holland Banking company of Springfield for collection of $97,000 judgment against the Continental National bank of Kansas City moved a step nearer its goal yesterday when motions seeking dismissal of the suit were overruled in federal court in Kansas City. 297 STOCKHOLDERS Continental National bank was liquidated voluntarily several years ago, but S. L. Cantley, state finance commissioner, nevertheless filed suit May 13, 1931. He named as defendants the liquidation agents and the 297 stockholders of the Kansas City institution. The suit grew out of the handling of notes of the president and cashier of the Holland Banking company by the Continental National. John E. Cahill, receiver for the Holland bank, was represented in court yesterday by John S. Farrington and Arthur M. Curtis of Springfield. HEAR OTHERS TODAY Additional motions in the case will be heard today Interest on the judgment since it was obtained by the Holland bank receiver in 1927 has brought the total to $125,000.

5. June 5, 1932 Springfield Leader and Press Springfield, MO
Article from Springfield Leader and Press, June 5, 1932

Click image to open full size in new tab

Article Text

COURT JUDGMENT BIG AWARD HOLLAND BANK Cahill Wins Hard-Fought Legal Battle in S. Court Against Stockholders of Continental National Bank tle in federal court at Kansas City ended yesterday with judgment which meant approximately $125,000 to the Holland bank receivership here. The suit had been brought by J. E. Cahill, regional director of closed bank liquidation in the Ozarks, to collect $97,000 judgment obtained in a state court several years ago against the Continental National bank of Kansas City. Interest since the date of judgment has increased the total sum involved to approximately $125,000 WINS IN U. S. COURT The court yesterday afternoon decided the case in favor of Mr. Cahill. Attorneys for the Continental National which has been liquidated voluntarily for some time, attacked the Holand bank's judgment on the grounds that the debt already had been paid by Ed Sanford, former Holland bank president. Mr. Cahill was represented in his determined fight collect the judgment by Ar. thur M. Curtis and John S. Farrington, Orin Patterson and H. G. Leedy of Kansas City. MAY ASK NEW TRIAL The losing side has 10 days in which to file motion for new trial. Attorneys for the Holland bank receiver believe that as result of yesterday's decision former stockholders of the Continental National soon will have to pay the old obligation. The Holland receiver's original suit against the continental National grew out of the fact that the latter institution paid a personal debt of Mr. Sanford with a Holland bank deposit.