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FIDELITY AND CASUALTY COMPANY OF NEW YORK v. KEY BISCAYNE BANK

No. 72-2545.

483 F.2d 438 (1973)

The FIDELITY AND CASUALTY COMPANY OF NEW YORK and E. F. Hutton and Co., Inc., Plaintiffs-Appellants, v. The KEY BISCAYNE BANK, Defendant-Third-Party Plaintiff-Appellee, v. Charles L. LEWIS, Third-Party Defendant-Appellee.

United States Court of Appeals, Fifth Circuit.

August 22, 1973.

Attorney(s) appearing for the Case

James E. Tribble, John B. Kelley, John R. Hoehl, Mark Hicks, Miami, Fla., for plaintiffs-appellants.

Peter Fay, Alan G. Greer, Miami, Fla., Charles L. Lewis, Breadbasket Corp., Atlanta, Ga., for defendants-appellees.

Before TUTTLE, GODBOLD and MORGAN, Circuit Judges.

PER CURIAM:

Fidelity & Casualty (F & C) sued the bank charging that the bank converted 900 shares of IBM stock, the property of Hutton, a brokerage firm covered by a surety bond written by F & C. F & C alleged that it had paid to Hutton $284,850.00, the value of the stock, and was subrogated to Hutton's rights.1

In a nonjury trial F & C first established ownership of the stock by Hutton and its disappearance...

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