United States Fidelity & Guaranty Co. v. Rathbun

Defendants appeal from the order denying their motion for a new trial. The facts were stipulated, hence the appeal challenges only the legal conclusion directing judgment for plaintiff.

The facts-necessary to be stated are these: The defendant bank was designated a depository for state funds in December, 1919, and plaintiff executed its bond to the state conditioned that its principal, the bank, should pay over to the state treasurer, whenever demanded, all moneys belonging to the state which theretofore had been or thereafter might be deposited with the bank. In the written application for…