Lomb v. Pioneer Savings & Loan Co.
Supreme Court of Alabama
Appeal from tlie City Court of Birmingham, in Equity. Heard before tlie Hon. W. W. Wilkekson. The nature of the bill in this case, which was filed by the Pioneer Savings and Loan Company, a Minnesota corporation, against Artie H. Lomb, and G. W. C. Lomb,. is sufficiently stated in the opinion. The defendants demurred to the bill; assigning, among others, the grounds of demurrer which are considered in the opinion. Prom a decree overruling the demurrer, the defendants appeal.
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Appeal from tlie City Court of Birmingham, in Equity. Heard before tlie Hon. W. W. Wilkekson. The nature of the bill in this case, which was filed by the Pioneer Savings and Loan Company, a Minnesota corporation, against Artie H. Lomb, and G. W. C. Lomb,. is sufficiently stated in the opinion. The defendants demurred to the bill; assigning, among others, the grounds of demurrer which are considered in the opinion. Prom a decree overruling the demurrer, the defendants appeal. (No brief on file.)
1Opinion of the CourtStone, C. J.
Building and loan associations are of relatively modern origin and growth. Prudently and economically administered, they are a valuable savings institution for persons of small incomes. Through them a number of persons associated together are induced to lay up something of their earnings, which promises, in time, to secure to each and all the associates a dwelling-place they can severally claim as their own. This is their highest commendation — the best reward they offer to those who become their patrons and share-holders. The scheme and modus opera-ndi are not always the same, though, in…
2Cases cited7 opinions
- McDonald v. Mobile Life InsuranceSupreme Court of Alabama · 1876
- American Freehold Land Mortgage Co. v. SewellSupreme Court of Alabama · 1890
- Perry v. New Orleans, Mobile & Chattanooga RailroadSupreme Court of Alabama · 1876
- Ginn v. New England Mortgage Security Co.Supreme Court of Alabama · 1890
- Forsyth v. Preer, Illges & Co.Supreme Court of Alabama · 1878
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- Musser v. MusserSupreme Court of Missouri · 1920
- Equitable Life Assur. Soc. v. BrandtSupreme Court of Alabama · 1940
- Battles v. Pierson Chevrolet, Inc.Supreme Court of Alabama · 1973
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