Agricultural Trust & Savings Company's Mortgage Pool Case

Opinion by

Mr. Justice Barnes,

The single question presented by this appeal may be stated as follows: Has an insolvent trust company which holds an unsold portion of a mortgage trust pool, the right to participate with certificate holders in the proceeds realized from the sale of mortgages held in the pool, where it has issued certificates of participation with a guarantee of payment in full of principal and interest?

The parties have presented an agreed statement of facts, from which it appears that the Agricultural Trust and Savings Company of Lancaster, on March 5, 1929, by resolution of its…