State Bank of Commerce v. United States Fidelity & Guaranty Co.

This case is submitted on an agreed statement of facts, of which the following is the substance: In January, 1928, the State Bank of Commerce was selected by the state treasurer as a state depository under the provisions of article 2526, Rev. Civ. Stat. 1925. On January 16, 192S, the bank qualified as such depository by executing a bond in the sum of $21,000 with the United States Fidelity & Guaranty Company as its surety. The bond was conditioned, as required by law, for the payment of all funds and money that might ■be deposited by the state treasurer with the bank. In December, 1928, the…