IN RE REAL ESTATE MORTGAGE GUARANTY CO.

No. 21426.

55 F.Supp. 749 (1944)

In re REAL ESTATE MORTGAGE GUARANTY CO.

District Court, E. D. Pennsylvania.

June 20, 1944.


Attorney(s) appearing for the Case

Horace Michener Schell, of Philadelphia, Pa., for receiver.

George Zolotar, of Philadelphia, Pa., for Securities & Exchange Commission.

Paul Freeman, of Philadelphia, Pa., for trustee.


KIRKPATRICK, District Judge.

In equity proceedings, brought in 1932 by a citizen of Virginia, a receiver was appointed for Real Estate Mortgage Guaranty Company, a Pennsylvania corporation engaged in the business of lending money on mortgages and selling them, with its guaranty, to the investing public, generally in the form either of bonds or of fractional certificates of participation. Some $4,000,000 of bonds and certificates were then outstanding. After about...

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