Appellate Division of the Supreme Court of the State of New York June 11, 1943 (In re the Liquidation of Lawyers Title & Guaranty Co.)

Townlby, J.

This proceeding was brought to determine whether a priority exists in favor of certain mortgage certificates sold to the general public as against other certificates of the same issue retained by the Lawyers Title and Guaranty Company (hereinafter called the Title Company) and transferred by it as collateral for loans made to it.

Prior to 1930, the Title Company acquired Mortgage No.