DONALD RUSSELL, Circuit Judge:
This appeal arises out of a controversy between the plaintiffs Fidelity and Deposit Company of Maryland, The Home Insurance Company, and North American Reinsurance Corporation, (hereinafter referred to collectively as "Sureties") and their principal, the defendant Bristol Steel & Iron Works, Inc. (hereafter referred to as "Contractor"), arising out of a contract of indemnity executed by the Contractor in order to induce the Sureties...
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