Sedalia National Bank (Sedalia, MO)

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MANY VISITORS AND DEPOSITORS AT THE NEW BANK

New Institution With Capital of $100,000 Opened For Business

BEAUTIFUL FLOWERS SENT BY FRIENDS

First Deposit For Church; Boy Scout Opens First Savings Account

Sedalia's new banking institution, The Sedalia Bank and Trust Company, with a capital stock of $100,000, opened this morning in the Sedalia National Bank building on the southwest corner of Third street and Ohio avenue. It was an informal opening. Friends and well wishers dropped in during the morning to extend congratulations to the officers, directors and employes, and many deposits were made.

The first checking account deposit was that of Sacred Heart church, made by Rev. Father Christian Daniel, the pastor. David Davidoff, 13 year old Boy Scout opened the first savings account.

John McGrath, president, and the heaviest stockholder and William Courtney, cashier, secretary and treasurer, were joined by directors during the day in meeting the patrons and visitors. The personnel of the clerical force, James Norlin, Fred Brink, Clarence Carter and Miss May McGrath were busy taking care of the bank's business.

Many beautiful floral pieces, large bouquets and baskets, sent by friends, were attractively arranged throughout the building, which is one of the most modern and thoroughly equipped bank buildings in the state.

At 11:30 o'clock the following directors met: L. P. Andrews, Chas. O. Botz, Walter J. Brill, J. E. Cannaday, H. C. Feuers, E. B. Farley, D. S. Lamm, Harry E. Milton, John McGrath, E. W. Thompson, Geo. H. Trader and E. F. Yancey. They will meet each morning at 11 o'clock to pass on loans and take up any other matters that may come up.

As was stated Sunday all persons holding boxes which were obtained from the Sedalia National Bank may continue to use them until the expiration of the date to which they are paid. They must, however, obtain a release from the bank receiver who will be there each banking day at 11 a. m. and 3 p. m.

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First Deposit For Church; Boy Scout Opens First Savings Account

Sedalia's new banking institution, The Sedalia Bank and Trust Company, with a capital stock of $100,000, opened Monday morning in the Sedalia National Bank building on the southwest corner of Third street and Ohio avenue. It was an informal opening. Friends and well wishers dropped in during the morning to extend congratulations to the officers, directors and employes, and many deposits were made.

The first checking account deposit was that of Sacred Heart church, made by Rev. Father Christian Daniel, the pastor. David Davidoff, 13 year old Boy Scout opened the first savings account.

John McGrath, president, and the heaviest stockholder and William Courtney, cashier, secretary and treasurer, were joined by directors during the day in meeting the patrons and visitors. The personnel of the clerical force, James Norlin, Fred Brink, Clarence Carter and Miss May McGrath were busy taking care of the bank's business.

Many beautiful floral pieces, large bouquets and baskets, sent by friends, were attractively arranged throughout the building, which is one of the most modern and thoroughly equipped bank buildings in the state.

At 11:30 o'clock the following directors met: L. P. Andrews, Chas. O. Botz, Walter J. Brill, J. E. Cannaday, H. C. Feuers, E. B. Farley, D. S. Lamm, Harry E. Milton, John McGrath, E. W. Thompson, Geo. H. Trader and E. F. Yancey. They will meet each morning at 11 o'clock to pass on loans and take up any other matters that may come up.

As was stated Sunday all persons holding boxes which were obtained from the Sedalia National Bank may continue to use them until the expiration of the date to which they are paid. They must, however, obtain a release from the bank receiver who will be there each banking day at 11 a. m. and 3 p. m.

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TRANSFER CASES TO FEDERAL COURT

Two suits pending in the circuit court, both asking to recover from the Citizens National Bank, now defunct, money which plaintiffs allege belong to other funds, one to the Sarah E. Cotton estate, the other to the Twelve Mile Road District, have been transferred from the Pettis county court to the federal court.

A suit on note, filed by Edwin S. Coombs, receiver for the Sedalia National Bank, was dismissed when the case was settled out of court, as was a suit filed by Mr. Coombs as receiver for the Citizens National Bank against W. E. Ragar, et al. One against Lawrence Wagner, et al., by Mr. Coombs as receiver for the Citizens National Bank was continued until November.

Judgments on suits brought by Mr. Coombs, as receiver for one or the other bank, were: Receiver for the Sedalia National, versus Margaret E. Rhodes, judgment for $135 and $5.40 interest, and $100 and $2.00 interest; receiver for the Citizens National Bank against Bell Hutchinson, $1,500 and $55 interest; also against F. J. Adams, et al., $2,000 and $108 interest and $200 and $20 interest; against F. T. Anderson, et al., $2,300 and $120.99 interest; against William Hanlon, $348.32.

A damage suit brought by George Knox against C. M. Crouch was dismissed by the plaintiff.

An ejectment suit brought by Oscar J. Keck against Louis Sweringen was dismissed.

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TRANSFER CASES TO FEDERAL COURT

Two suits pending in the circuit court, both asking to recover from the Citizens National Bank, now defunct, money which plaintiffs allege belong to other funds, one to the Sarah E. Cotton estate, the other to the Twelve Mile Road District, have been transferred from the Pettis county court to the federal court.

A suit on note, filed by Edwin S. Coombs, receiver for the Sedalia National Bank, was dismissed when the case was settled out of court, as was a suit filed by Mr. Coombs as receiver for the Citizens National Bank against W. E. Ragar, et al. One against Lawrence Wagner, et al., by Mr. Coombs as receiver for the Citizens National Bank was continued until November.

Judgments on suits brought by Mr. Coombs, as receiver for one or the other bank, were: Receiver for the Sedalia National, versus Margaret E. Rhodes, judgment for $135 and $5.40 interest, and $100 and $2.00 interest; receiver for the Citizens National Bank against Bell Hutchinson, $1,500 and $55 interest; also against F. J. Adams, et al., $2,000 and $108 interest and $200 and $20 interest; against F. T. Anderson, et al., $2,300 and $120.99 interest; against William Hanlon, $348.32.

A damage suit brought by George Knox against C. M. Crouch was dismissed by the plaintiff.

An ejectment suit brought by Oscar J. Keck against Louis Sweringen was dismissed.

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JOHN T. CARLON IS NEW RECEIVER

John T. Carlon, receiver in charge of the defunct Boonville National bank, has been appointed receiver for the Citizens National and the Sedalia National banks of Sedalia, it was announced Thursday.

Carlon will succeed Edwin S. Coombs, who has been called to St. Louis to take charge of a national bank there.

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John T. Carlon, receiver in charge of the defunct Boonville National bank, has been appointed receiver for the Citizens National and the Sedalia National banks of Sedalia, it was announced Thursday.

Carlon will succeed Edwin S. Coombs, who has been called to St. Louis to take charge of a national bank there.

The new duties of Carlon will in no way effect liquidation of the Bank of Boonville. He will still be in charge of the affairs of the Boonville National bank. Being receiver of the three banks will effect a small savings to the depositors of each, as the salary paid to Carlon will be divided between the three banks.

Mend Hose. LaFlesh Hem. Co., 416 Ohio

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APPOINTMENT TO R. M. ANDERSON

R. M. Anderson, who since last March has been assistant receiver for the Citizens and the Sedalia National Banks of this city and the Boonville National Bank, under Receiver John T. Carlon, of Boonville, today received word of his appointment as correspondent conservator at Washington, D. C.

Mr. Anderson's work will be in Washington and in the comptroller of the currency's office.

In company with Mrs. Anderson Mr. Anderson will depart for Washington by automobile Thursday morning. While in Sedalia Mr. and Mrs. Anderson have been residing at the Dean apartments.

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BANK RECEIVER SUES COUNTY FOR RETURN OF MONEY

Alleges In Suit Amount Paid Should Not Been Preferred Claim

A suit was filed in the federal court in Jefferson City today by William L. Koenig, receiver of the Sedalia National Bank of Sedalia, against the county of Pettis, in which the bank receiver seeks to recover money paid to the county, which the plaintiff alleges was paid as a preferred claim, when, he charges, it should not have been such.

The suit was filed by D. E. Kennedy, attorney for the receiver, and Frank W. Hayes, both of this city.

There are two counts, in the first the bank asks judgment for $45,969 with interest and on the second $25,841.59, with interest.

The petition states that in 1931 the county selected the Sedalia National Bank as its depository, and the bank and directors signed a $200,000 bond for the security of the money. On November 3, 1931, the bank placed a restriction on withdrawals. On January 20, 1932, according to the petition, the bank and directors who had signed the bond for the security of the money were released, and on January 22, the bank transferred to the county approximately $140,000 in notes as security for the money on deposit.

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BANK RECEIVER SUES COUNTY FOR RETURN OF MONEY

Alleges In Suit Amount Paid Should Not Been Preferred Claim

A suit was filed in the federal court in Jefferson City Wednesday by William L. Koenig, receiver of the Sedalia National Bank of Sedalia against the county of Pettis, in which the bank receiver seeks to recover money paid to the county, which the plaintiff alleges was paid as a preferred claim, when, he charges, it should not have been such.

The suit was filed by D. E. Kennedy, attorney for the receiver, and Frank W. Hayes, both of this city.

There are two counts, in the first the bank asks judgment for $45,969 with interest and on the second $25,841.59, with interest.

The petition states that in 1931 the county selected the Sedalia National Bank as its depository, and the bank and directors signed a $200,000 bond for the security of the money. On November 3, 1931, the bank placed a restriction on withdrawals. On January 20, 1932, according to the petition, the bank and directors who had signed the bond for the security of the money were released, and on January 22, the bank transferred to the county approximately $140,000 in notes as security for the money on deposit.

The petition alleges that the transaction, putting up the notes to secure the money, was void and in violation of section 5242, U. S. revised statutes relating to national banks, because, they state, the bank was insolvent at the time the transaction was made. The fact that the county had notes with which to secure its deposits, they allege, placed it in the class with preferred claims, which they allege, the county deposit should not have been, and they are asking for the return of the sum amounting to the difference between the preferred and a common claim.