In re Taylor & Dean Mfg. Co.

GOODRICH, Circuit Judge.

This appeal involves a controversy between the assignee of a mortgagee and the trustee in bankruptcy of a manufacturing corporation. The conflicting claims are to the proceeds of the sale of machinery upon the bankrupt’s premises and turn upon the rights of the parties under the law of Pennsylvania relating to industrial mortgages. The fact background is as follows:

Anthony C. Dean had conducted, from 1910 or earlier, an ornamental iron and wire manufacturing business in a four-story building, known as 2428 Penn Avenue, Pittsburgh. The building and the lot on which it…