Underwood v. Globe Indemnity Co.

Paul D. Shields and Frederick F. Bach Were stockbrokers, carrying on business of copartnership at 27 Pine street, in the city of New York. On the 20th day of May, 1923, the Globe Indemnity Company issued a policy, called a brokers’ basic blanket bond for stockbrokers, wherein the defendant insured Shields & Company against loss as therein specified. By the bond, the defendants agreed to indemnify the insured, and hold them harmless from and against any loss to an amount not exceeding $50,000 of money, currency, bullion, bonds, debentures, scrip, certificates, warrants, transfers, coupons,…