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TRAVELERS INDEMNITY COMPANY v. SNYDER NATIONAL BANK

No. 3752.

361 S.W.2d 926 (1962)

TRAVELERS INDEMNITY COMPANY, Appellant, v. SNYDER NATIONAL BANK, Appellee.

Court of Civil Appeals of Texas, Eastland.

Rehearing Denied November 11, 1962.

Attorney(s) appearing for the Case

Gay & Meyers, Austin, for appellant.

Sentell & Rosser, Snyder, for appellee.

WALTER, Justice.

In a non-jury trial, Snyder National Bank recovered judgment against the Travelers Indemnity Company for $9,385.88, and Travelers was denied a recovery on its cross action against the bank. Travelers has appealed.

The City of Austin entered into a contract with J. H. Chastain for paving, curbing and guttering certain streets. Travelers wrote Chastain's payment and performance bonds. The Snyder bank financed Chastain's contract and Chastain...

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