Meyer Levy, Trustee of the Pearl Moltack Trust v. Empire Insurance Company

AINSWORTH, Circuit Judge:

Appellant, Meyer Levy, filed this suit as trustee of the Pearl Moltack Trust against the Empire Insurance Company for the sum of $10,000, plus unpaid interest of $1,470, claimed to be due by defendant as the consequence of a purchase of certain Subordinated Convertible 7% Debentures issued to purchaser by United Southern Companies, Inc., now a bankrupt. Appellant claimed that the debentures were insured by defendant under a written agreement executed between United Southern and Empire Insurance Company. Defendant admitted execution of the written agreement between…