South Phila. State Bank v. National Surety Co.

Opinion by

Mr. Justice Simpson,

The South Philadelphia State Bank applied for and obtained from defendant, the National Surety Company, a bond in the sum of $50,000, insuring the bank against loss by reason of the dishonesty of its employees. Later it applied for and obtained from the defendant another bond, in the sum of $10,000, in favor of the Commonwealth, insuring the latter that its deposits with the bank would be repaid. The Commonwealth had nothing to do with the application for the latter bond; the bank alone made it, and stipulated therein to indemnify defendant and save it harmless…