Greater Adelphia Building & Loan Ass'n v. Trilling

Opinion by

Mr. Justice Maxey,

In 1923 Morris Goldenberg, owner of the premises at 5415 Berks Street, Philadelphia, executed a bond and second mortgage on that property in the amount of $2,500 to plaintiff’s predecessor, the Cooperative Building and Loan Association, under and subject to a first mortgage of $5,000. At that time Goldenberg purchased 15 shares of the 33d series of the association’s stock, assigning to it all his right, title and interest therein as collateral security for payment of the second mortgage. By the assignment the association received the right to appropriate the value…