Prudential Investment Co. v. National Reserve Life Insurance

*660The opinion of the court was delivered by

Smith, J.:

This was an action to recover on an indorsement on municipal bonds. Judgment was for defendant. Plaintiff appeals.

The bonds were deposited by defendant with the insurance commissioner. At the time they were deposited the following statement was put upon them:

“This bond is our property. National Reserve Life Ins. Co. — Geo. Godfrey Moore, Pres, or Vice Pres., and is not transferable without our indorsement below, executed by the president or vice president and secretary or treasurer.”

The words “Geo. Godfrey Moore” were written with a pen.…