American Surety Co. of New York v. Bache

DUNKLIN, Chief Justice.

H. O. Kincaid was employed by the First National Bank of Fort Worth, Tex., as a teller in its loan and discount department and charged with the duty of handling stock transactions with customers of the bank under the direction and subject to the approval of an official of the bank. During the years 1929 a.nd 1930 he engaged in stock speculations on the New York market, operating in part on money which he had wrongfully abstracted from the bank. His dealings were with the partnership firm of J. S. Bache & Co., as stockbrokers, whose home office and principal place of…