In re Suburban Building & Loan Ass'n of Highland Park

Broomall, J.,

The first and partial account of the Secretary of Banking in the above matter was filed on June 7, 1938, to which Howard R. Broad-belt has filed exceptions. Testimony was taken and argument thereon was before the court in banc.

The transaction involved by the exceptions occurred prior to the effective date (July 3,1933) of the Building and Loan Code of May 5, 1933, P. L. 457, 15 PS §1074-*5981301 et seq. and while The Banking Act of June 15,1923, P. L. 809, was in effect. It is agreed that the association was solvent at the time. The case must therefore be decided on the state of…