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S. GIRARD EST. T. v. BANKERS S. CORP.

425 Pa. 495 (1967)

Stephen Girard Estate Trustees, Appellants, v. Bankers Securities Corporation.

Supreme Court of Pennsylvania.

May 2, 1967.

Attorney(s) appearing for the Case

Ernest R. von Starck, with him Donald A. Scott, Arthur Littleton, Thomas J. Gaffney, and Gaffney and Gaffney, and Morgan, Lewis & Bockius, for appellants.

Bernard M. Borish, with him Alan J. Davis, and Wolf, Block, Schorr and Solis-Cohen, for appellee.

Before BELL, C.J., MUSMANNO, JONES, COHEN, EAGEN, O'BRIEN and ROBERTS, JJ.

OPINION BY MR. JUSTICE COHEN, May 2, 1967:

For many years prior to 1951 the principal income-producing asset of the Stephen Girard Trust Estate had been Snellenburgs Department Store. By that year, however, the sales volume had declined substantially from its wartime peak, and the owners of the business were anxious to cease operations. Although the Estate's lease with N. Snellenburg & Co. was not due to expire until 1958...

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