Franklin Trust Co. of Phila. Case

Opinion by

Mr. Justice Maxey,

The court below sustained exceptions of the American Cigar Company, appellee, to the first and partial account of the secretary of banking, receiver of the Franklin Trust Company. In this account the secretary denied priority to the cigar company, as assignee and subrogee of the United States on its claim upon a dishonored certified check for $4,500, given by the cigar company in payment of internal revenue taxes owing to the United States.

The facts were agreed to in writing and were submitted to the court below at the hearing upon appellee’s exceptions. This…