Southern Mutual Aid Ass'n v. Blount

Buchanan, J.,

(after making the foregoing statement) delivered the opinion of the court.

The appellants insist that the decrees complained of are erroneous upon three grounds: (1) Because the court denied the prayer of the defendants’ cross-bill to cancel the stock held by the appellees; (2) because it held that the Southern Mutual Aid Association was liable to the appellees; and (3) because it held that Sauls was liable to the appellees.

As to the first contention: If it be true, as claimed by the appellants in their answer, which was treated as a cross-bill, that the preferred stock of the…