Commonwealth Trust Co. of Pittsburgh v. Bradford

The order granting this certiorari limited our consideration “to the question of jurisdiction and its appropriate exercise.”

The facts, not in serious dispute, were fully set out by the Circuit Court of Appeals. It will suffice now to restate those bearing particularly' on the. points- for decision.

The Trust Department of The Bank of Pittsburgh National Association — The Bank — acquired real estate mortgages and held them- in a pool apart from other assets. It sold participation shares therein to sundry customers and issued appropriate certificates. Interest on the mortgages, when collected,…