McFerson v. National Surety Co.

The plaintiff in error, who at the time of the beginning of this action was in charge of the insolvent Louisville Bank, which had theretofore absorbed the Lafayette Bank, sought to recover from the defendant in error certain securities received by the defendant in error under the following circumstances: Each of the above-named banks had agreed with the county treasurer of Boulder county that, in consideration of his depositing county moneys with them, they would give him indemnifying bonds. In pursuance of that agreement the defendant in error' became surety upon the bonds of the said banks,…