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SOUTH SIDE BANK & TRUST COMPANY v. WALSTON & CO.

No. 17756.

425 F.2d 40 (1970)

SOUTH SIDE BANK & TRUST COMPANY, Richard P. Larsen, and Harold J. Green, Defendants-Third Party Plaintiffs-Appellants, v. WALSTON & CO., Inc., Third-Party Defendant-Appellee.

United States Court of Appeals, Seventh Circuit.

April 8, 1970.

Attorney(s) appearing for the Case

Norman H. Nachman, Allan G. Sweig, Chicago, Ill., Nachman, Munitz & Sweig, Chicago, Ill., of counsel, for appellants.

Edwin H. Conger, Chicago, Ill., Tenney, Bentley, Howell, Askow & Lewis, Chicago, Ill., of counsel, for appellee.

Before FAIRCHILD and CUMMINGS, Circuit Judges, and MORGAN, District Judge.

CUMMINGS, Circuit Judge.

This case presents the question whether the South Side Bank & Trust Company and two individuals, Richard P. Larsen and Harold J. Green, are entitled to indemnity from Walston & Co., Inc., a brokerage firm.

The current controversy grew out of an action instituted by Frederick D. Wiss against the Bank, its president, Mr. Larsen, and its majority stockholder, Mr. Green, alleging that they had converted American Ship Building Company...

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