Philadelphia Saving Fund Society v. Lehigh Coal & Navigation Co.

Opinion by

Rhodes, P. J.,

This is an appeal by plaintiff from a judgment entered for defendant by the court below after sustaining defendant’s demurrer to plaintiff’s complaint. Plaintiff is a mutual savings institution and the holder of certain sinking fund mortgage bonds issued by defendant. Plaintiff instituted this action in assumpsit to recover taxes paid by plaintiff, which plaintiff alleged were covered by a tax reimbursement clause in the bonds and the mortgage indenture.

The facts are undisputed. Between October 30, 1945, and February 2, 1946, plaintiff purchased 3y2 per cent sinking…