SOPER, Circuit Judge.
The sole question involved in this case is the proper construction to be placed upon the terms of a fidelity bond. The facts are not in dispute. On October 23, 1925, Ætna Casualty & Surety Company executed and delivered a bond whereby Raymond N. Speigner, as principal, and the surety company as surety, acknowledged themselves held and firmly bound unto the National Exchange Bank of Chester, S. C. The bond recited that Speigner had been...
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