William R. Day

“ For this they were to be paid by the assignment of the reserve funds in the hands of the government and the checks or payments under the original contract. There was no undertaking on the part of the surety company that the contract should be profitable to its principal or to any other substituted in the contract by assignment or otherwise. The surety did agree, by the terms of the bond, that the original contractors should make full payment to all persons supplying them with labor and materials in the prosecution of the work. ”

“ By the fifth paragraph Coyne assigned to Hardaway and Prowell for the completion of the work, and for security to Hardaway & Prowell, for the amount which they should have to pay on all accounts for the completion of the work and for a settlement with the United States and acceptance of said lock and dam by the proper authorities, all of his interest in $8,300, retained and held in reserve by the government under the contract, which was to be applied by Hardaway and Prowell, 1st, for the payments of debts for labor and materials ”

“ The order provided that appellee, the surety company, should pay into court, in satisfaction of the claims and costs of action, such a sum as might be required after the government payments were exhausted. ”