Louisville Trust Co. v. Royal Indemnity Co.

Opinion of the Court by

Judge Clay

— Reversing.

Prom July 19, 1920, to July 2, 1925, W. G-. Sluder was employed by the Credit Clearing House Adjustment Corporation as the manager of its Louisville branch. His fidelity as manager was insured by two bonds issued by the Royal Indemnity Company to the Credit Clearing House Adjustment Corporation. As manager of the Louisville -office, Sluder was instructed to deposit checks in the name of the corporation in the Citizens’ Union National Bank of Louisville. This course he followed until March 12, 1925, when he began depositing to his own credit in the…