Ferrando v. U. S. National Building & Loan Ass'n

Opinion by

Mr. Justice Kephart,

A majority of the stockholders of the U. S. National Building and Loan Association approved a resolution transferring all its assets to a new corporation for second preferred stock. Bishop Ferrando, who had paid into the association $10,000 as dues on 200 shares, voted against the proposed transfer, and by this bill sought to restrain it until he had been paid the value of his stock. The value having been secured by a bond, the assets were transferred, and the court below thereafter awarded appellee the sum of $8,308, as of December 4,1930, the date of transfer.

Wh…