The Surety Co, Must Settle

Judge Watkins has decided  that  the National Surety company cannot be relieved of its responsibility of paying what Executor Edwin S. Sherill owes to the estate of Caroline D. Foster.

Mr. Sherrill owed to the estate in personal notes something like $3,100. Judge Watkins ruled that these notes were to be considered as cash and that the Surety company, which went on his bonds. was liable for the amount.

The Surety company petitioned to be  relieved from paying it on the grounds that Dr. Sherrill was insolvent.

In refusing the petition Judge Watkins says:

"it appears that the parties interested in the estate are satisfied with the present surety. and that as a matter of law insolvency is not a sufficient cause for removal, and that no good and lawful showing has been made justifying the granting of said petition. The executor fails to present a new bond. a condition precedent to being relieved from the first obligation.

"I find that the said Surety Co. has received $120 premium for acting as surety 11 this estate, and if said company did not make it sufficient investigation before becoming surety, it is not to be remedied here."