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COMMONWEALTH TRUST CO. OF PITTSBURGH v. ATWOOD

No. 5518.

78 F.2d 92 (1935)

COMMONWEALTH TRUST CO. OF PITTSBURGH et al. v. ATWOOD.

Circuit Court of Appeals, Third Circuit.

Rehearing Denied May 22, 1935.

Attorney(s) appearing for the Case

William A. Wilson, of Pittsburgh, Pa., for appellants.

John G. Frazer, Robert L. Kirkpatrick, and Smith, Shaw, McClay & Seifert, all of Pittsburgh, Pa., for appellee.

Before BUFFINGTON, WOOLLEY, and THOMPSON, Circuit Judges.

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. In this pool, under authority of the same Act, it invested trust funds and sold shares to...

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