American Surety Co. of New York v. Ryan

ODOM, Justice.

This is a concursus proceeding which involves the distribution of $48,896.85, now in the registry of the court, among fifty-one creditors, whose claims, approved by the commissioner, amount in the aggregate to $145,159.91. The amount originally deposited was $50,000, but the trial court allowed costs amounting to $1,103.15 to be paid out of the sum deposited.

The concursus was provoked and the amount deposited by the American Surety Company on July 5, 1932. The amount deposited by the surety company is the penalty stipulated in a surety or qualifying bond which it executed on…