Globe Indemnity Co. v. Wolcott & Lincoln, Inc.

SANBORN, Circuit Judge.

The question for decision is whether the appellee, the insured under two “Depositors Forgery Bonds” issued by the appellant, is entitled to recover $10,000 under each of the bonds, or $10,000 under both of the bonds.

The facts are not in dispute. The appellant, on May 9, 1940, issued to the insured a “Depositors Forgery Bond” covering, to the extent of $10,000, losses sustained during the period June 6, 1940, to June 6, 1943, from the forgery of checks, drafts, promissory notes, and similar instruments made or drawn by the insured at its principal office in Kansas City,…