Crane's Estate

Stearne, J.,

The auditing judge surcharged a corporate cotrustee, and exonerated the individual cotrustee, concerning the investment by the trustees of trust funds in participating mortgage certificates, transferred to the trusts by the corporate fiduciary from other of its trust estates. The participating mortgage *338certificates secured an interest in a single first mortgage secured upon improved central Philadelphia real estate. Neither the form of the investment nor the sufficiency of the security of the mortgage, when created, is challenged.

The basis of the surcharge is:

1. There was no…