Osterling v. Commonwealth Trust Co.

Opinion by

Mr. Justice Linn,

Appellant, a trust company, organized and existing under section 29 of the General Incorporation Act of April 19, 1874, P. L. 73, and supplements, appeals from judgment for want of a sufficient affidavit of defense. The action is for breach of a contract with defendant dated June 30, 1926. The agreement recited that plaintiff deposited $71,542.58 with defendant “for the purpose of investing the same ... in first mortgages on improved real estate” at 6% interest; defendant was to remit to plaintiff the net income “after deducting taxes and commission.” If unable to…