Miller v. Missouri Guarantee Savings & Building Ass'n
Missouri Court of Appeals
Appeal from the Lawrence Circuit Court.- — Hon. Henry Clay Pepper, -Judge. (1) Under the Revised Statutes of Missouri of 1889, governing building and loan associations, which permits associations formed thereunder to sell their loans in open meetings to the stockholder biding the highest premium, which premium is not to be considered as feed, within the general usury law, the written bid for preference contained in the borrower’s application for a loan when submitted, as in…
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Appeal from the Lawrence Circuit Court.- — Hon. Henry Clay Pepper, -Judge. (1) Under the Revised Statutes of Missouri of 1889, governing building and loan associations, which permits associations formed thereunder to sell their loans in open meetings to the stockholder biding the highest premium, which premium is not to be considered as feed, within the general usury law, the written bid for preference contained in the borrower’s application for a loan when submitted, as in this case, to the board of directors in open meeting meets the requirements of the statute. Hughes v. Farmers 'Savings,…
1Opinion of the CourtBigg-S, J.
Tbe defendant is organized under tbe laws of Missouri as a building and loan association with its chief office at tbe city of Hannibal, Missouri. In 1892 one O. E. Bonnefon was tbe owner of eight shares of tbe stock of defendant of tbe par value of one hundred dollars each. In that year Bonnefon borrrowed of tbe association $700 and pledged bis stock as collateral security for tbe loan. As further security be executed a deed of trust on certain lots owned by him and situated in tbe city of Aurora, in Lawrence county, Missouri. One Thompson was tbe local agent of defendant at Aurora, who…
2Cases cited2 opinions
- Springfield Engine & Thresher Co. v. DonovanSupreme Court of Missouri · 1899
- American Rubber Co. v. WilsonMissouri Court of Appeals · 1894
3Cited by4 opinions
- Ruppel v. Missouri Guarantee, Savings & Building Ass'nSupreme Court of Missouri · 1900
- Holmes v. Royal Loan Ass'nMissouri Court of Appeals · 1908
- State v. Phoenix Loan Ass'nMissouri Court of Appeals · 1900
- Clark v. Missouri Guarantee Saving & Building Ass'nMissouri Court of Appeals · 1900