Gordon, SEC. of Banking v. Home Indem. Co.

Opinion by

Cunningham, J.,

This appeal is by the plaintiff from a judgment entered in favor of the defendant bonding company upon a case stated. Franklin Trust Company of Philadelphia, prior to the execution of the bond hereinafter referred to, had as two of its depositors, United Cigar Stores Company and Whelan Drug Stores Company. Under an arrangement with these companies, deposits were made by their authorized employees in and through the medium of more than fifty other banks, some of them located in Philadelphia but many situated at distant points. The deposits so made were, under the terms…