Rocker v. Cardinal Bldg. & Loan Ass'n of City of Newark

• Decision Date: 26 October 1937
• Docket Number: Nos. 139, 143.,s. 139, 143.
• Citation: 119 N.J.L. 134,194 A. 865
• Parties: ROCKER v. CARDINAL BLDG. & LOAN ASS'N OF CITY OF NEWARK.
• Court: New Jersey Supreme Court

194 A. 865

119 N.J.L. 134

ROCKER

v. CARDINAL BLDG. & LOAN ASS'N OF CITY OF NEWARK.

Nos. 139, 143.

Court of Errors and Appeals of New Jersey.

October 26, 1937.

PARKER, LLOYD, CASE, and HEHER, Justices, dissenting.

Appeal from Supreme Court.

Action by Ida Rocker against the Cardinal Building & Loan Association of the City of Newark. From a judgment for defendant (179 A. 667, 13 N.J.Misc. 397), plaintiff appeals.

Affirmed.

John J. Stamler, of Elizabeth, for appellant. Harold Simandl, of Newark, and John Warren, of Jersey City (Louis J. Cohen, Asst. Atty. Gen., of counsel), for respondent. David T. Wilentz, Atty. Gen., amicus curiæ .

PER CURIAM.

These appeals are, in all respects, identical with that of Busci v. Longworth Building & Loan Association (N.J.Err. & App.) 194 A. 857, decided October 26, 1937 except that in the former the action was to recover the withdrawal value of installment shares, and in the latter the principal and interest of paid-up shares. This is of no consequence. P.L. 1925, c. 65, § 74, pp. 223, 224 (Comp.St.Supp.1930, § 27 —R(74), under the title of "Status of shares," provides inter alia, "and all members shall occupy the same relative status as to debts and losses of such association" and "no agreement or understanding shall be made or entered into whereby the time for surrendering paid-up shares to such association and withdrawing the value thereof shall be postponed, and paid-up shares shall only be surrendered and withdrawn on the same terms and under the same conditions as provided in the constitution for the surrender and withdrawal of installment shares."

The judgments under review will be affirmed, with costs.

For affirmance: The CHANCELLOR, the CHIEF JUSTICE, and Justices BODINE, DONGES, and PERSKIE, and Judges DEAR, WELLS, WOLFSKEIL, and RAFFERTY —9.

For reversal: Justices PARKER, LLOYD, CASE, and HEHER —4.