Court of Appeals for the Fifth Circuit August 18, 1970, 29030 (American National Bank and Trust Company of South Pasadena, Etc. v. The Fidelity and Casualty Company of New York, Etc.)

GOLDBERG, Circuit Judge:

This diversity case involves the interpretation to be given a clause of the Standard Bankers Blanket Bond. In 1964 the plaintiff Bank, American National Bank and Trust Company of South Pasadena, loaned $41,600.00 to Harry Playford, the president of the Southern Bank of St. Petersburg.