by the Penn Mutual Life Insurance Company. Payment of the indebtedness secured by the deed of trust was assumed by the Tompkins partnership as a part of the purchase price.
Neither the Tompkins partnership nor any of its members had any financial interest or stock in McPherson Square Corporation. Under the arrangement the Partnership acquired a three-fifths interest and the Corporation a two-fifths interest in the ownership of the property. This transaction was the only venture on which the said Partnership and the Corporation ever embarked together so far as the record discloses or suggests.
The original cost of the partnership's three-fifths interest, was:


  Cost of Property .................. $145,000
  Less first Trust ..................   79,000
  Total Cost of interest above first
   trust ............................ petitioners. And in bidding at the trustee's sale petitioners exercised a right which was open to the public generally upon the same terms and conditions that it was open to the petitioners.
The title to the entire property which petitioners now hold was derived by them through the trustee under the deed of trust as a result of the sale on September 23, 1932. The title which they and the corporation derived through the former owner by the deed given in 1928, was completely wiped out by the trustee's sale and any one who purchases the property from petitioners will of necessity have to trace title to the entire property through the trustee back to the former owner who gave the deed of trust and to a time (May