Wagner's Appeal

Opinion by

Rhodes, J.,

The Northern Trust Company (herein called trustee) was appointed successor trustee by the court below on November 2, 1936, under the terms of a declaration of trust made by the Philadelphia Company for Guaranteeing Mortgages, by reason of the receivership of the latter company. At the request of a substantial number of certificate holders the trustee instituted foreclosure proceedings pursuant to the terms of the declaration of trust, which referred to a bond and mortgage in the principal sum of $200,000. These proceedings resulted in a sheriff’s sale on June 6, 1938, at…