Public Warehouses of Matanzas, Inc. v. Fidelity & Deposit Co. of Maryland

MANTON, Circuit Judge.

This action is to recover losses sustained due to defalcations of appellees’ employee while in their service. The appellant by its fidelity bond underwrote his and other employees’ honesty. Misappropriations took place in the period from September 12, 1927, to June 17, 1931 by one Acosta, an employee. The dishonest servant was treasurer of the appellee Public Warehouses of Matanzas, Inc., a wholly owned subsidiary of the appellee Munson Steanjship Line. He was also an officer of the steamship line. However, any loss to the warehouse company is limited from March 7, 1931,…