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NORTH CAROLINA NATIONAL BANK v. LUMBERMENS MUTUAL CASUALTY COMPANY

No. 9425.

335 F.2d 486 (1964)

NORTH CAROLINA NATIONAL BANK, Appellant, v. LUMBERMENS MUTUAL CASUALTY COMPANY, Appellee.

United States Court of Appeals Fourth Circuit.

Decided July 23, 1964.

Attorney(s) appearing for the Case

W. H. McElwee, North Wilkesboro, N. C., (Richard A. Vestal and McElwee & Hall, North Wilkesboro, N. C., on brief), for appellant.

W. F. Maready, Winston-Salem, N. C., (Ralph M. Stockton, Jr., and Hudson, Ferrell, Petree, Stockton, Stockton & Robinson, Winston-Salem, N. C., on brief), for appellee.

Before BRYAN and BELL, Circuit Judges, and MICHIE, District Judge.

PER CURIAM.

In this action the North Carolina National Bank, at North Wilkesboro, sought to recover upon a bankers' blanket indemnity bond issued by the Lumbermens Mutual Casualty Company. Directing a verdict for the defendant at the conclusion of all of the evidence, the Court held that the loss sustained by the Bank was not within the bond's coverage. With this we agree.

The bond safeguarded the Bank against harm from deprivation of its property in the use...

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