Stone v. New Schiller B. & L. Ass'n

Opinion by

Mr. Justice Simpson,

Plaintiff filed a bill in equity against the New1 Schiller Building & Loan Association (hereinafter called the association), its present officers and directors, and all other unnamed persons who have been its “directors, shareholders and stockholders from and after February 3, 1915.” This appeal is from a decree for plaintiff. For the reasons hereinafter stated the appeal must be sustained.

The bill may be epitomized as follows: The stock of the association was issued serially, and Christian and Mary Lange had paid in a large sum on their 325 shares; in three…