*634 Ross W. Shumaker and Robert G. Clayton, of Shumaker, Circle & Kendrick, Toledo, Ohio, and you can Harry R. Meredith, out-of Meredith, Meredith & Tait, Lima, Kansas, for plaintiff.
William S. Burton and Joseph A. Rotolo, from Arter, Hadden, Wykoff & Van Duzer, Cleveland, Kansas, and you can G. P. Openlander, Toledo, Kansas, to own offender.
Demonstration from the jury having been waived because of the events, and also the Courtroom that have heard the fresh testimony regarding witnesses, examined new transcript of your facts and you may showcases, felt the newest briefs, advised results of-fact and you may conclusions of laws submitted from the per of the parties, and you can heard oral objections away from the recommendations, makes the adopting the *635 findings of-fact and findings of laws:
step 1. It’s and you will was a student in the relevant decades a stock business, licensed to receive and receiving deposits throughout the majority of folks, it is, and also come due to the fact the incorporation, engaged in the non-public financing and you will loans business on the Condition out of Kansas, along with the relevant ages managed and you may work part offices getting carrying on its company within 150 locations in the county one or more part being located inside per state of one’s state. (Plaintiff’s Recommended Looking of fact Zero. step one.)
It’s signed up in Small Mortgage Act regarding Kansas in order to go on their direct mortgage providers, and is in oversight of your Superintendent of creating and you can Loan Associations, and of the newest Division away from Ties of your Condition out-of Kansas
dos. Brand new offender was an agency arranged under the laws of one’s United kingdom of good Britain and you may Ireland, with its prominent place of business and you will chief office towards the You in the city regarding Boston, Commonwealth from Massachusetts. It’s licensed to accomplish business and that is working in the state of Kansas, plus the brand new North Section thereof, for instance the furnishing to own compensation out of surety and you can indemnity securities away from the sort here inside it. Within the related many years it was depicted to some extent by a keen company during the Lima, Ohio, known as the Gooding Team, having F. Age. Gooding of the organization due to the fact an agent or attorneys-in-reality on the defendant. (Plaintiff’s Recommended Wanting of-fact Zero. 2.)
Plaintiff was an agency structured within the 1912 underneath the laws and regulations out-of the condition of Kansas ruling strengthening and financing associations, using its dominating office into the Lima, Ohio
step 3. On 8, 1957, the brand new offender, of the and you may with regards to representative, said F. Age. Gooding, done and you will brought to new plaintiff inside the Lima, Ohio, their Number one Industrial Blanket Bond Zero. F 154564, in order to become effective on may fifteen, 1957 (PX step 1). The bond considering indemnity getting plaintiff against people loss of currency or other possessions it, just like the insured, will sustain and view as considering on bond in order to an enthusiastic count maybe not exceeding on aggregate $900, as a consequence of any fraudulent otherwise unethical work otherwise serves the amount of time because of the any no less than one of your team off plaintiff, since the laid out about bond, pretending alone or perhaps in collusion with individuals, into the title of your thread. (Plaintiff’s Recommended Wanting of-fact No. step 3.)
4. The main thread during the fit (PX step one) contained a supply on course ”Indemnity Up against Loss Under Previous Thread otherwise Coverage” and that known early in the day bonds issued of the defendant so you’re able to plaintiff active Could possibly get fifteen, 1951 (PX dos, 3) which have been restored in may 1954 getting an extra three year period. Those two past bonds preceded immediately the bond inside the fit in section of your energy, and you can have been terminated as of age active. Both of these earlier in the day securities indemnified plaintiff from the exact same brand of losings because the thread inside match. Premiums for these several earlier bonds upon their issuance and you can renewal, was in fact duly paid off by the plaintiff so you can defendant (PX 8, 9 and you https://servicecashadvance.com/payday-loans-pa/moon-township/ will ten). The text inside suit, when it try terminated of the accused to the October 1, 1958, and part of the advanced therefor in the number of $twenty-four, towards several months once Oct step one, 1958, was gone back to plaintiff.