Bank of Hardinsburg & Trust Co. v. American Bonding Co.

Opinion of the Court by

Judge Lassing

Affirming.

Some time in 1903 the Two States Bank was organized and John S. Adair chosen cashier. He held this position continuously until March 7, 1911, when he fled the country. It developed, upon examination, that he was a defaulter and had practically lodted the bank. So involved were its affairs and so depleted were its assets that it at once made an assignment to the Bank of Hardinsburg and Trust Company.

On January 10, 1906, the said cashier made application to the American Bonding Company of Baltimore, Maryland, to become his surety to said bank, on a…