Smith v. Capital Bank & Trust Co.

Opinion by

Mr. Justice Schaffer,

This bill in equity was brought by the plaintiffs as liquidating trustees of the trusteed assets of the Union Trust Company of Pennsylvania to restrain the Capital Bank and Trust Company from paying the sum of $12,-500 to Massachusetts Bonding and Insurance Company and $75,000 to American Surety Company, and to enjoin these two companies from recovering the sums named. The chancellor and the court in banc granted the relief prayed for and the two companies have appealed.

The Commonwealth had on deposit in the Union Trust Company $87,500 secured by the depository…