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SUTRO BROS. & CO. v. INDEMNITY INSURANCE CO. OF NORTH AMERICA

No. 62 Civ. 2606.

264 F.Supp. 273 (1967)

SUTRO BROS. & CO., Plaintiff, v. INDEMNITY INSURANCE COMPANY OF NORTH AMERICA, Defendant.

United States District Court S. D. New York.

February 9, 1967.

Attorney(s) appearing for the Case

Sullivan & Cromwell, New York City, for plaintiff, Marvin Schwartz, John F. Cannon, New York City, of counsel.

Bigham, Englar, Jones & Houston for defendant, Alfred J. Morgan, Jr., Robert B. Budelman, Jr., New York City, of counsel.

OPINION, FINDINGS OF FACT AND CONCLUSIONS OF LAW.

LEVET, District Judge.

In this action, plaintiff, Sutro Bros. & Co. (hereinafter "Sutro"), a stockbrokerage partnership, seeks recovery from its insurer, defendant Indemnity Insurance Company of North America (hereinafter "Insurance Company") for losses said to be $1,261,343.91 allegedly sustained by plaintiff through the larceny of a customer. The contract upon which plaintiff sues is a bond, "Brokers...

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