Fidelity & Deposit Co. v. Grand Nat. Bank

DAYIS, District Judge.

Plaintiff issued bankers’ blanket bonds, aggregating $150,000, by which it agreed to indemnify defendant against loss of money or securities through robbery. On May 25, 1930, the bank was robbed of cash and securities of a value of about $824,000. The portion of the property covered by the indemnity bonds was the cash amounting to $46,895.82, and bonds of the value of $236,-950. Proof of loss was filed, and on September 19, 1930, the plaintiff settled the claim by paying to defendant $125,000.

Subsequently the bonds, but not the cash, were returned. Plaintiff brings this…