MARIS, Circuit Judge.
On and prior to May 1, 1940 Pittsburgh Hotels, Inc. owned three properties in Pittsburgh, the William Penn Hotel, the Fort Pitt Hotel and a service building. These properties were all subject to the lien of a first mortgage then held by The Union Trust Company of Pittsburgh and later assigned to the Mutual Life Insurance Company of New York and to the lien of a second mortgage indenture dated January 1, 1937 given to the Peoples-Pittsburgh Trust...
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