Scheetz v. Tradesmens National Bank

MacNeille, J.,

This hearing is on bill and answer, and the allegations in the answer are taken as admitted. Thus it is established that the Tradesmens *210National Bank & Trust Company owns, by assignment, a bond and mortgage for $8,000, secured upon 110 South Sixtieth Street, Philadelphia, which it holds as trustee for various parties to whom were given participating interest certificates.

The plaintiff was the owner of a certificate in the sum of $1,225. The mortgage became in default and the Tradesmens National Bank & Trust Company foreclosed and purchased the premises at sheriff’s sale on July…