BUFFINGTON, Circuit Judge.
In the court below the School District of Haverford Township, hereafter called Haverford, brought suit against the American Surety Company, hereafter called American, on a $300,000 surety bond given by a depository bank to Haverford, and recovered a judgment for $230,081.33 for breach thereof. Thereupon American took this appeal.
The bond provided: "If (the Bank) shall for a term of one year, to wit, from the first day of July, 1930...
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