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U.S. FIDELITY CO. v. WOOLDRIDGE

No. 352.

268 U.S. 234 (1925)

45 S.Ct. 489

69 L.Ed. 932

UNITED STATES FIDELITY & GUARANTY COMPANY v. WOOLDRIDGE, RECEIVER OF THE NATIONAL BANK OF CLEBURNE.

Supreme Court of United States.

Decided May 11, 1925.

Attorney(s) appearing for the Case

Mr. Walter F. Seay and Mr. Jos. A. McCullough, for the plaintiff in error.

Mr. Ellis Douthit, with whom Mr. J.H. Barwise, Jr., was on the brief, for defendant in error.

Mr. Loren Grinstead and Mr. Frank T. Wyman filed a brief as amici curiae by special leave of Court.

MR. JUSTICE HOLMES delivered the opinion of the Court.

The National Bank of Cleburne, Texas, became insolvent through the frauds of its president and closed its doors on October 17, 1921. On November 1 following the defendant in error was appointed receiver, and on April 14, 1922, began this suit upon a bond executed by the plaintiff in error on August 28, 1921, binding it to indemnify the Bank for losses of this character...

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