Philadelphia Co. for Guaranteeing Mortgages Case

Opinion by

Mr. Justice Patterson,

These appeals involve the status of appellants, Land Title Bank and Trust Company and Mortgage Service Company of Philadelphia, as holders of certificates of participation in a mortgage, on distribution of the fund realized upon foreclosure and sale of the mortgaged premises.

The Philadelphia Company for Guaranteeing Mortgages, on March 8, 1929, acquired, by assignment,: a mortgage and bond executed by one Albert Aiken, secured upon premises 816-820 South 47th Street, Philadelphia, and conditioned for the payment of the sum of $100,000 on June 24, 1930. On the…