Wilson v. Parvin
Court of Appeals for the Sixth Circuit
Appeal from the Circuit Court of the United States for the Eastern District of Tennessee. This is an appeal from a decree rendered by District Judge Clark settling the order in which the assets of an insolvent building loan association should be distributed among the members. The Cumberland Building Loan Association is a corporation organized in 1892 under the general law of Tennessee providing for the organization of building and loan associations.
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Appeal from the Circuit Court of the United States for the Eastern District of Tennessee. This is an appeal from a decree rendered by District Judge Clark settling the order in which the assets of an insolvent building loan association should be distributed among the members. The Cumberland Building Loan Association is a corporation organized in 1892 under the general law of Tennessee providing for the organization of building and loan associations. Being unable to carry on its business as contemplated and unable to meet its contracts with its stockholders, the appellees, who are citizens of…
1Opinion of the CourtLurton, Circuit Judge
The question is whether the interveners, holding the very peculiar certificates called “Final Dividend Income Stock,” are entitled to preference in the distribution of the assets of an insolvent building loan association, or whether they must share ratably with those members of the association who are confessedly holders of ordinary shares of stock. If the certificates represent money merely loaned to the association, money borrowed for the purpose of carrying on the legitimate business of the incorporation by advancing those shareholders hold-' ing what is known in the parlance of such clubs…
2Cases cited11 opinions
- Warren v. KingSupreme Court of the United States · 1883
- Hamlin v. Toledo, St. L. & K. C. R.Court of Appeals for the Sixth Circuit · 1897
- Lockhart v. Van AlstyneMichigan Supreme Court · 1875
- Cook v. Equitable Building & Loan Ass'nSupreme Court of Georgia · 1898
- Savannah Real Estate, Loan & Building Co. v. SilverbergSupreme Court of Georgia · 1899
6 more not listed; retrieve them via the Exa API.
3Cited by13 opinions
- Ellsworth v. LyonsCourt of Appeals for the Sixth Circuit · 1910
- Standard Savings & Loan Ass'n v. AldrichCourt of Appeals for the Sixth Circuit · 1908
- State Ex Rel. McCormack v. American Building & Loan Ass'nTennessee Supreme Court · 1941
- In re Hicks-Fuller Co.Court of Appeals for the Eighth Circuit · 1925
- Wright v. JohnstonSupreme Court of Iowa · 1918
8 more not listed; retrieve them via the Exa API.