Appellate Court of Illinois November 29, 1904, Gen. No. 11,362 (Wineman v. First Mortgage Loan Co.)

Mr. Justice Baker

delivered the opinion of the court.

' Section 85, chapter 32, R. S., provides that at any stated meeting of the board of directors of a building and loan association “ the money in the treasury shall be offered for loan in open meeting * * * provided that any such association may by its by-laws dispense with the offering of money for bids in open meeting and in lieu thereof loan