Southwestern National Bank v. Riegner

Opinion by

Mr. Justice Walling,

This equitable proceeding, instituted to determine which of two mortgages was entitled to priority on distribution of the proceeds of a sheriff’s sale, was heard on an agreed statement of facts. Edward C. Brown, owner of the property known as 427 South Broad Street, Philadelphia, did, on November 29, 1922, execute and deliver a $45,000 mortgage thereon to the defendant, which was recorded December 10, 1924. Meantime, on December 3, 1924, Brown executed and delivered a $50,000 mortgage to the plaintiff, on the same premises, which was recorded December 13,1924.…