United States Fidelity & Guaranty Co. v. City of Pensacola

The City of Pensacola brought an action on a bond for $50,000.00 executed by the fidelity and guaranty company to “faithfully account for and pay over” all moneys deposited in the Pensacola State Bank from the date of the bond to November 1, 1913. It is alleged that the city had on deposit in the bank more than $146,000.00; that on December 5,1913, the bank suspended payment and defaulted in payment of said deposits. The condition of the bond is as follows':

“The condition of this obligation is such that, whereas, the above bounden the Pensacola State Bank was heretofore duly designated by…