Ӕtna Casualty & Surety Co. v. National Bank of Tacoma

Appellee brought an action against appellant to recover upon a bond, in the amount of $4,000, executed by appellant, as surety, and.American Wood Pipe Company, as principal, the bond running to appellee and/or Twin Harbors Lumber Company, as obligees. At the conclusion of appellee’s ease, appellant moved for a directed verdict, which was denied. Appellant introduced no ' evidence, and the court instructed the jury to return a verdict for appellee. A judgment in the sum of $4,244.36, including interest, was entered thereon, from which this appeal is prosecuted. The facts are not in dispute, but appellant challenges the sufficiency of the evidence to support the judgment.

It appears that for several years prior to the transaction in suit appellee had been making advances to the American Wood Pipe Company to enable it to carry on its operations. Loans so made usually were secured by assigning to appellee invoices of the Pipe Company, covering the products manufactured and sold by it, accompanied by bills of lading showing shipments made. In 1928 the pipe company requested that appellee make advances to it on the strength of unfilled orders, the proceeds of which would be assigned to…