Blattenberger v. Sharswood Building & Loan Ass'n

Brown, Jr., J.,

-The bill avers, inter alia, that on March 22, 1933, the defendant building and loan association being solvent, plaintiff directed the appropriation of a sufficient portion of the sum of $1,550, paid in by him on 10 shares of its stock, to the payment and cancellation of a stock loan of $400 made by him, and prays that defendant be directed to cancel the loan on its books and to return his notes.

The answer sets up the belief that it was solvent, but that the Banking Department’s examination showed that it was insolvent, and also that the department had placed it on a restricted…