United States Fidelity & Guaranty Co. v. Citizens National Bank

Opinion op the Court by

Judge Nunn —

Affirming.

Prior to 1904, appellee, Citizens National Bank of Monticello, Kentucky, organized as a national bank with $25,000 capital stock, which was afterwards increased to $50,000. It had in its employ as cashier, Charles Mc-Connaghy, against whose dishonesty the bank was insured during* the first years of his service, by some company other than appellant. On March 15, 1904, appellant executed a bond insuring the bank against loss to the extent of $15,000, by reason of fraud or deceit on the part of its cashier, McConnaghy, which amounted to embezzlement…