In re Youths' Temple of Honor
Supreme Court of Minnesota
Jobn D. Laddy and others, holders of matured certificates in the Youths’ Temple of Honor, an insolvent corporation, and C. F. Williams and others, who had given notice of withdrawal from the corporation, appealed to the district court of Hennepin county from the allowance by the assignee of the claims of the unmatured certificate holders, and the unmatured certificate holders likewise appealed from the allowance by the assignee of the full amount of the claims of the matured…
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Jobn D. Laddy and others, holders of matured certificates in the Youths’ Temple of Honor, an insolvent corporation, and C. F. Williams and others, who had given notice of withdrawal from the corporation, appealed to the district court of Hennepin county from the allowance by the assignee of the claims of the unmatured certificate holders, and the unmatured certificate holders likewise appealed from the allowance by the assignee of the full amount of the claims of the matured certificate holders. The matter was submitted to Simpson, J., on a stipulation of facts, and he affirmed the decision…
1Opinion of the CourtCollins, J.
The defendant Temple of Honor was. an endowment association organized in 1889, under the provisions of Laws 1885, c. 184, and amendatory acts (G. S. 1894, §§ 3296-3316.) To use the words of the court below, its “general scheme was impracticable, impossible of accomplishment, and must inevitably have resulted in failure”; but the general plan and avowed purpose of this association need not be enlarged upon.
January 19, 1897, it made an assignment for the benefit of its *323creditors. Its general creditors were few, and its indebtedness to these persons was but a small fraction of its assets.
When…
2Cases cited9 opinions
- People v. Security Life Insurance & Annuity Co.New York Court of Appeals · 1879
- Heinbokel v. National Savings, Loan & Bldg. Ass'nSupreme Court of Minnesota · 1894
- Knutson v. Northwestern Loan & Building Ass'nSupreme Court of Minnesota · 1897
- Fogg v. Supreme Lodge of the United Order of the Golden LionMassachusetts Supreme Judicial Court · 1893
- Towle v. American Building & Loan Ass'nU.S. Circuit Court for the Northern District of Illnois · 1896
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3Cited by5 opinions
- Lacey v. State Banking BoardTexas Supreme Court · 1928
- Cowles v. Morris & Co.Illinois Supreme Court · 1928
- Calkins v. BumpMichigan Supreme Court · 1899
- Calkins v. GreenMichigan Supreme Court · 1902
- Radabaugh v. H. D. Hudson Manufacturing Co.Supreme Court of Minnesota · 1942