General Accident, Fire & Life Assurance Corporation's Appeal

Sloane, J.,

The General Accident, Fire and Life Assurance Corporation, Ltd., designated hereinafter as the insurance company, is a corporation incorporated under the laws of Great Britain, and since 1899 has qualified in Pennsylvania to carry on a general insurance business known as casualty, workmen’s compensation, automobile liability, burglary, plate glass, accident, and health insurance.

In 1911, the insurance company entered into a written agreement with the Girard Trust Company, of Philadelphia, as trustee. Under this agreement, on December 31, 1936, the Girard Trust Company held in its…