Court of Appeals for the Third Circuit April 5, 1935, No. 5518 (Commonwealth Trust Co. of Pittsburgh v. Atwood)

lead-opinion

WOOLLEY, Circuit Judge.

In good times the Bank of Pittsburgh National Association, hereinafter called the bank, purchased mortgages on real estate and, under authority of the Pennsylvania Act of April 6, 1925, P. L. 152 (see 15 PS Pa. § 2514), placed them in a general trust fund commonly known as a mortgage pool, segregated from its other assets and held by it as trustee.