Civic Building & Loan Association's Appeal

Opinion by

Parker, J.,

This appeal requires us to determine the status of an account of The Civic Building & Loan Association ■with the Merion Title & Trust Co. of Ardmore, a closed bank, on distribution of the assets of the trust company. The question involved was raised on excep tions to the account of William D. Gordon, Secretary of Banking of this Commonwealth.

The facts are not in dispute. Joseph C. Nancarrow and wife borrowed from the loan association the sum of $2,000, giving a real estate mortgage as security. As there were liens on the premises and other claims arising out of the…