McPherson v. Railway Savings & Building Ass'n

THIS is a test case brought by S. G. and Laura v. McPherson, in their own behalf and in behalf of other shareholders similarly situated, against the Railway Savings and Building Association, referred to herein as the association. The plaintiffs prayed for a decree requiring the association to recognize its capital liability to them in the sum of $7,811.93 on the stock they now hold, and restraining the association from charging against the capital account of the plaintiffs any part of the moneys paid to them in maturing other shares "formerly" owned by them. The association filed an answer;…