American Building Association News Volume 15

American Building Association News Volume 15

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1896 edition. Excerpt: ...The greatest trouble is that many people allow themselves to be carried away by the glittering promises which many of the National associations make. Claims are made that dividends of from fifteen to twenty per cent. will be paid to investors, but they fail to state how this can be done by a company which pays exorbitant salaries to its ofiicers when it can not be done by the local companies, the salaries of whose oflicers are only nominal. It is far better to be certain of the five or six per cent. which every well managed company will surely pay than to nibble at the twenty per cent. bait which the national concerns offer and after a few years go into the hands of receivers or assignees.-----Mr. A. J. Duncan, has been appointed Deputy Inspector of building associations of Ohio by Commissioner Matthews. The Minnesota Supreme Court Upholds Attorney-General Childs in the American Savings and Loan Association Case. The Flmling of lhe Trial Court in Afllrnwd by Justice Start. THE American Savings and Loan Association has lost its appeal to the Supreme Court in the matter of the demurrer to the complaint in the action brought by the Attorney-General for the appointment of a receiver. A decision was handed down sustaining the lower court and aflirming its order. In the demurrer it was claimed that the American did not belong to the class of corporations which might be restrained by the State in the event of its violation of its articles of incorporation; that the Attorney-General had no legal right to bring the action for the appointment of a receiver, and that the State had no interest or right in the matter. It was also claimed that the American was not insolvent, being in the nature of a co-partnership and having no debts outside of its own...
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Product details

  • Paperback | 312 pages
  • 189 x 246 x 17mm | 558g
  • United States
  • English
  • black & white illustrations
  • 1236743261
  • 9781236743268