Bartram Building & Loan Ass'n v. Eggleston

Opinion by

Mr. Justice Maxey,

On different dates in 1929 Eggleston, defendant in the court below and one of the appellants, negotiated two mortgage loans from the appellee building and loan association. One was for $8,000 on “the Springfield tract” of real estate; the other was for $7,000 on “the Glenolden tract,” both being situated in Delaware County. In each case defendant gave appellee his bond and mortgage. On the Springfield mortgage he took out 20 shares of stock in the association, which he assigned to the latter as additional collateral security. The paid-in value of the 20 shares is…