Central Trust & Savings Co. v. Walters

Opinion by

Mr. Chief Justice Frazer,

Jonathan Powell died January 11, 1882, and by his last will and testament left the residue of his estate in trust for designated purposes, naming Joseph L. Atkinson, Joseph H. Chubb and William Powell, executors and trustees. Acting under the powers conferred upon them by the will, the trustees invested $2,000 in a mortgage given by one Haeckly and his wife, then owners of premises 1503 Moyamensing Avenue, Philadelphia, which was duly recorded May 12, 1910. In 1914, two of the trustees, Chubb and Powell, died, and no persons were appointed in their stead,…