Nice Ball Bearing Co. v. Mortgage Building & Loan Ass'n

Opinion by

Mr. Justice Simpson,

Plaintiff was the owner of 400 shares of the stock in the 28th series of the Mortgage Building and Loan Association, hereinafter called the “old association,” upon which it had paid in $114 per share, aggregating the sum of $45,600. It gave the usual thirty days notice of its intention to withdraw, and delivered, at the same time, a transfer of its certificate of stock; but before the thirty days had expired, the old association had merged with six other like associations, into a new building and loan association, also called the Mortgage Building and Loan…