Folk v. State Capital Savings & Loan Ass'n
Supreme Court of Pennsylvania
Appeal, No. 34, Jan. T., 1906, by plaintiffs, from decree of C. P. Berks Go., dismissing bill in equity in case of George M. Folk, John T. Balsley, Edward W. Madden and W. H. Fisher v. State Capital Savings and Loan Association. Bill in equity for an injunction.
Read the full summary
Appeal, No. 34, Jan. T., 1906, by plaintiffs, from decree of C. P. Berks Go., dismissing bill in equity in case of George M. Folk, John T. Balsley, Edward W. Madden and W. H. Fisher v. State Capital Savings and Loan Association. Bill in equity for an injunction. Endlich, J., filed the following opinion: The plaintiff, suing for himself and others in like interest who may join him, is the holder of stock in the defendant building association, incorporated under Act April 29, 1874, P. L. 73. The par value of its stock is $100 per share. The ordinary installment stock issued by the association…
1Opinion of the Court
Opinion by
Mr. Justice Fell,
The general purpose of building associations is the accumulation of funds to be loaned to their members and to be repaid in *544small periodical payments. The accumulation from tbe payment of installments on stock is so slow as often to hamper their practical operations and different methods have been adopted to provide funds to meet the demands of borrowing members promptly and thus to promote the general purpose. Building associations are authorized by the Act of June 25, 1895, P. L. 303, to borrow money for temporary use when applications for loans exceed the…
2Cited by13 opinions
- Stone v. Schiller Building & Loan Ass'nSupreme Court of Pennsylvania · 1930
- Weinroth v. Homer Building & Loan Ass'nSupreme Court of Pennsylvania · 1932
- Schuster v. LargmanSupreme Court of Pennsylvania · 1932
- Kay County, Excise Board v. Atchison, T. & S. F. Ry. Co.Supreme Court of Oklahoma · 1939
- Smith v. Bath Loan & Building Ass'nSupreme Judicial Court of Maine · 1927
8 more not listed; retrieve them via the Exa API.