Franklin Trust Co. of Philadelphia Case

Opinion by

Me. Justice Linn,

Of the three appeals raising the single question presented by this record, we need consider only that of the depositor, Loux. When the receiver took charge of the Franklin Trust Company, October 5, 1931, F. W. Woolworth Company, a corporation, had in its checking account a credit of $51,158.52 and was owner of a certificate of deposit in the sum of $1,000. Woolworth was also a tenant, occupying the thirteenth floor in the bank building with an unexpired term at an annual rent of $20,000, payble in advance in monthly installments, none of which was in arrear. In the…