Glens Falls Indemnity Co. v. Palmetto Bank

WYCHE, District Judge.

In this action plaintiff seeks to recover from the defendant $15,840.80, ’ the net amount of a loss sustained by Watts Mills resulting from an embezzlement by C. S. Link, Jr., its secretary and assistant treasurer. The loss is alleged to have been proximately caused by the defendant in wrongfully cashing forty-six checks payable to Watts Mills. The embezzlement was covered by plaintiff’s fidelity bond to Watts Mills. Plaintiff paid the loss and acquired all rights of the mill against the bank by subrogation. Rivers v. Liberty Nat. Bank, 135 S.C. 107, 133 S.E. 210.

The…