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BERKSHIRE LAND CO. v. FEDERAL SEC. CO.

June 25, 1951

BERKSHIRE LAND CO.
v.
FEDERAL SECURITY CO.



The opinion of the court was delivered by: BURNS

Findings of Fact

1. Plaintiff is a Pennsylvania corporation. Defendant is a Delaware corporation, with an office or place of business in Fayette County, Pennsylvania. The amount in controversy, exclusive of interest and costs, is in excess of $ 3,000.

 2. Plaintiff is the owner in fee of certain undivided interests in the Pittsburgh or River vein or seam of coal, together with certain mining rights, in and underlying certain tracts of land in Greene County, Pennsylvania. The undivided interests of plaintiff are equivalent to approximately 1,700 acres of the Pittsburgh seam of coal in place.

 3. The aforesaid premises, on September 19, 1914, were owned in fee by one Josiah Van Kirk Thompson. The chain of title from that date is as follows:

 b. On April 1, 1920, the trustees in bankruptcy of the Thompson estate conveyed the property in question to Gallatin Land Company, a corporation.

 c. The Gallatin Land Company conveyed this property to Piedmont Coal Company, a corporation, on December 31, 1928.

 d. The Piedmont Coal Company, in turn, conveyed it to the Union Trust Company of Pittsburgh in the autumn of 1936.

 e. The Union Trust Company of Pittsburgh conveyed it to plaintiff, then known as The Berkshire Coal Company, in December, 1939.

 f. Plaintiff conveyed it to one Henry B. Maguire and M. E. Kelly, co-partners, as tenants in partnership, on December 30, 1941.

 g. Maguire and Kelly conveyed it back to plaintiff on April 6, 1944.

 4. All six aforementioned deeds were duly recorded in the Office of the Recorder of Deeds of Greene County, Pennsylvania.

 5. On September 19, 1914, Thompson executed and delivered to one William A. Stone a mortgage covering this property. The mortgage was in the principal sum of $ 200,000.00, was payable two years after date, and bore interest at the rate of six (6%) per cent per annum, payable semi-annually. This mortgage was recorded in the Office of the Recorder of Deeds of Green County, Pennsylvania. It has not been satisfied of record.

 6. Both the December 30, 1941, and April 6, 1944, deeds, noted in paragraphs 3f and 3g, above, contained (a) the recital of the existence of said September 19, 1914, mortgage, (b) the statement that Maguire and Kelly assumed no liability for the satisfaction of the mortgage, and (c) a clause that the deed was made and accepted 'subject to * * * any and all rights of others in and to any part of the ...


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