American State Bank v. United States Fidelity & Guaranty Company, Defendant-Respondent

HASTINGS, Chief Judge.

This is a diversity action by plaintiff, American State Bank, a banking corporation organized and existing under the laws of Wisconsin, to recover $17,805.16 under a performance bond issued by defendant, United States Fidelity & Guaranty Company, a corporation organized and existing under the laws of Maryland. Plaintiff claims to be subrogated to the rights of laborers and materialmen on the bond.

The district court entered judgment dismissing plaintiff’s action on the merits and granting defendant the costs of the action. Plaintiff appealed.

On March 17, 1953, plaintiff…