Allied Mutual Insurance v. Farmers National Co.

MEMORANDUM AND ORDER

HANSON, District Judge.

This ruling, is predicated upon a stipulation between Allied Mutual Insurance Company and the Commodity Credit Corporation. The stipulation properly sets forth the factual background of the dispute and is incorporated by reference herein. The parties have provided the Court with scholarly briefs and argument upon the legal issues. Simply stated, the question for decision is whether a warehouseman’s conduct relative to bulk grain held by him for purposes other than storage for compensation is *733secured by a statutory bond issued pursuant to Iowa Code…