St. Paul Fire and Marine Insurance Co. v. Bank of Stockton

MacBRIDE, District Judge.

This action is for a Declaratory Judgment that plaintiff, St. Paul Fire and Marine Insurance Company (hereinafter called “Insurance Company”) has no liability to defendant Bank of Stockton (hereinafter called “Bank”) under the provisions of a so-called Blanket Bankers Bond on account of a forged signature to a Continuing Guarantee of an extension of credit wherein the bank sustained a loss.

Plaintiff Insurance Company issued to defendant Bank a so-called Blanket Bankers Bond providing in part as follows:

“(E) FORGERY AND ALTERATION OF SECURITIES, ETC.

“The undersigned…