American Surety Company's Appeal

Opinion by

Mr. Justice Stern,

The Pennsylvania Trust Company of Pittsburgh executed two depository bonds in favor of the Commonwealth of Pennsylvania, each in the sum of $50,000, with the American Surety Company of New York as surety. Subsequently the Trust Company closed its doors and the Secretary of Banking took possession. The Surety Company paid to the Commonwealth the sum of $100,-419.18, the amount of its deposit, and took an assignment of its claim against the Trust Company. Upon the auditing of the Secretary of Banking’s account as receiver the Surety Company claimed a right to…