In re Merion Title & Trust Co.

Knight, J.,

-The parties have filed a stipulation of the facts, from which it appears that at the time of the closing of The Merion Title and Trust Company it was indebted to the exceptant in the sum of $1,203,491.65. This indebtedness was evidenced by collateral notes, one of which, for $150,000, is still in the possession of exceptant, although, as of March 1,1933, the indebtedness of the Merion to exceptant had been reduced to $31,256.97. As of the last-mentioned date, The Pennsylvania Company still held collateral belonging to the Merion, of the approximate value of $1,106,493.96. The…