Baker

This is an appeal from a decree dismissing stockholders’ bill in equity. The court predicated the dismissal upon the ground that the bill on its face shows laches. The motion to dismiss was also based on the ground that the bill did not state facts sufficient to constitute a cause of action. Consequently, this point is also presented by the appeal from the deeree. The appellee does not question the sufficiency of the facts alleged in the bill to constitute a cause of action, but does claim that the decision of the Supreme Court of Washington in Beutelspaeher v. Spokane Sav. Bank, 164 Wash. 227 , 2 P.(2d) 729, is res judicata. We will therefore assume that the bill does state a cause of action although in passing upon the question of laches it will be necessary to consider the nature and character of the action and of the relief demanded.

The bill in equity, which we will hereinafter refer to as the complaint in conformity with the usual practice in the state of Washington where this action was brought, alleges that the plaintiffs are members of the Spokane Savings & Loan Society, and that they axe bringing this action on behalf of all members similarly situated and on behalf of…