Guarantee Co. of North America v. Mechanics' Savings Bank & Trust Co.
Supreme Court of the United States
CERTIORARI TO THE UNITED STATES CIRCUIT OOURT OF APPEALS FOR THE SIXTH CIRCUIT. This was a bill in equity brought by the Mechanics’ Savings Bank and Trust Company for the use of S. J. Pryor, assignee, against the Guarantee Company of North America, for an accounting and for a decree for the amount alleged to be due complainant on two bonds executed by tbe Guarantee Company to the bank; one insuring tbe latter corporation .against such pecuniary loss, as it might sustain by…
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CERTIORARI TO THE UNITED STATES CIRCUIT OOURT OF APPEALS FOR THE SIXTH CIRCUIT. This was a bill in equity brought by the Mechanics’ Savings Bank and Trust Company for the use of S. J. Pryor, assignee, against the Guarantee Company of North America, for an accounting and for a decree for the amount alleged to be due complainant on two bonds executed by tbe Guarantee Company to the bank; one insuring tbe latter corporation .against such pecuniary loss, as it might sustain by reason of the fraudulent acts of John Schardt, as teller and collector; and the other insuring the same corporation…
1Opinion of the CourtChief Justice Fuller
The teller’s bond, as originally given, expired January, 1889, and was renewed from year to year. Before each renewal, the bank was informed by the company that it was necessary that a certain certificate by the president or cashier should be furnished, which was done, and stated, among other things, that the accounts of the teller had- been examined and .verified by the finance committee of the bank. The bond provided that it was issued and renewed “ on the express understanding that the employe has not within the knowledge of the said employer at any former period either in this or other…
2Cases cited4 opinions
- American Surety Company v. PaulySupreme Court of the United States · 1898
- McGrew v. City Produce ExchangeTennessee Supreme Court · 1887
- Allen v. DunhamTennessee Supreme Court · 1893
- Palmer & Cartwright v. StateTennessee Supreme Court · 1890
3Cited by87 opinions
- Fidelity & Deposit Co. v. CourtneySupreme Court of the United States · 1902
- Knight & Jillson Co. v. CastleIndiana Supreme Court · 1909
- National Surety Co. v. LongCourt of Appeals for the Eighth Circuit · 1903
- Missouri, Kansas & Texas Railway Co. v. American Surety Co.Supreme Court of Missouri · 1921
- American Bonding Co. v. MorrowSupreme Court of Arkansas · 1906
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