Parker v. National Surety Co.

In the .month of February, 1920, the defendant, surety company issued to the Northern State Bank, a banking corporation located at Washburn, .in Bayfield county, its fidelity bond by which it agreed to indemnify the bank against loss not exceeding $5,000 occurring through the “fraud, dishonesty,, forgery, theft, embezzement, or wrongful abstraction of. Monroe Hprr Sprague,” president of the bank.

The bank became insolvent, and,on the 5th day of December, 1923, was taken over by the commissioner of banking for the purpose of liquidation.. At that time the assets of, the bank included an…