Farmers Elevator Mutual Insurance Company v. The J. R. Milam Company Fidelity and Deposit Company of Maryland

In this case the district court had entered a judgment approving a stipulation for settlement between the Farmers Elevator Mutual Insurance Company, as subrogee of the Commodity Credit Corporation, against The J. R. Milam Company and its liquidating trustees in the amount of $14,893.55 and interest, and had ordered that the only issue remaining for consideration is the legal defense of whether plaintiff’s claim as against Fidelity and Deposit Company of Maryland is covered by the warehouseman’s bond written for The J. R. Milam Company (App. pp. 91 & 92).

The critical question turns upon the…