Sec. Tr. & Sav. Bank of San Diego v. N.Y. Indem. Co.

Defendant appeals from a money judgment entered in favor of plaintiff.

The cause went to trial on an agreed statement of facts which may be summarized as follows: At all times material to this action Gordon L. Eby and "Lewis H. Homer were attorneys-in-fact for the Indemnity Insurance Company of North America, which for brevity we will refer to as the Indemnity Company, and each was authorized to execute, acknowledge and deliver in the name of the company, indemnity and fidelity bonds and undertakings, including those similar to the one here involved. Homer had offices with and was employed by Eby. He acted as solicitor and salesman for the Indemnity Company and inspected and supervised the work of contractors for whom the Indemnity Company had written indemnity or fidelity bonds and represented the Indemnity Company in cases where such contractors had failed' or were about to fail or had abandoned the performance of their contracts. These facts were all known to the plaintiff bank and its officers.

P. C. Kelley was a vice-president of the plaintiff bank and was authorized to and did act for it in all the transactions involved in this action. R. W. Forsyth was the Pacific Coast…