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FIDELITY TRUST CO. v. AMERICAN SURETY CO. OF N. Y.

Civ. A. No. 16959.

174 F.Supp. 630 (1959)

FIDELITY TRUST COMPANY, Plaintiff, v. AMERICAN SURETY COMPANY OF NEW YORK, and Hartford Accident and Indemnity Company, Defendants.

United States District Court W. D. Pennsylvania.

January 21, 1959.

Attorney(s) appearing for the Case

Weller, Wicks & Wallace, Pittsburgh, Pa., for plaintiff.

J. M. McCandless, Pittsburgh, Pa., for defendants.

SORG, District Judge.

This is an action brought by plaintiff as the insured under a Bankers Blanket Bond issued by defendants as sureties to recover losses sustained by it as the result of a series of loan transactions.

From February 2, 1956 through April 18, 1956, plaintiff made a series of loans to Re-Ly-On Products Company, each of which was evidenced by a promissory note signed, with a few exceptions, in the company name by Alex L. Josselson, its president...

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