WACHOVIA BANK & TRUST CO. v. INDEPENDENCE INDEMNITY CO.

No. 2897.

37 F.2d 550 (1930)

WACHOVIA BANK & TRUST CO. v. INDEPENDENCE INDEMNITY CO.

Circuit Court of Appeals, Fourth Circuit.

January 14, 1930.


Attorney(s) appearing for the Case

W. M. Hendren, of Winston-Salem, N. C., for appellant.

F. P. Hobgood, Jr., of Greensboro, N. C., for appellee.

Before WADDILL, PARKER, and NORTHCOTT, Circuit Judges.


WADDILL, Circuit Judge.

This is an appeal from a judgment of the District Court of the United States for the Middle District of North Carolina, at Winston-Salem, rendered in an action by the receiver of a defunct bank, appellant here, to recover on a bond insuring the fidelity of its president, which action was dismissed upon a directed verdict. The facts are as follows:

On April 26, 1926, the Merchants' Bank & Trust Company was closed by the banking department...

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