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SPRINGFIELD NAT. BANK v. AMERICAN SURETY CO. OF NEW YORK

No. 4285.

7 F.2d 44 (1925)

SPRINGFIELD NAT. BANK et al. v. AMERICAN SURETY CO. OF NEW YORK.

Circuit Court of Appeals, Sixth Circuit.

July 3, 1925.

Attorney(s) appearing for the Case

J. E. Bowman, of Springfield, Ohio (Frank W. Geiger, of Springfield, Ohio, on the brief), for appellants.

James I. Boulger and W. R. Pomerene, both of Columbus, Ohio, for appellee.

Before DENISON, DONAHUE, and MOORMAN, Circuit Judges.

MOORMAN, Circuit Judge.

On April 8, 1922, the American Surety Company executed a bond to the state of Ohio, as surety for the Springfield National Bank, to secure a deposit of the state of $50,000 in the bank. On May 20, 1922, it became surety on a bond of $50,000 executed by A. H. Penfield for the faithful performance of his duties as cashier of the bank. Through the frauds of Penfield the bank became insolvent and was closed by the comptroller April 5, 1923. Shortly...

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