The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1858-04-27
PRICE TWO CENTS

Farmers Loan 4 Trust Company, Selden's Re
ports, 299.
This last case was peculiar 1t was decided by
the Court of Appeals of New York that in a ifa9
policy insurance, provision "hdt It should be uoid
# the assured should die By his hand" had refer
ence to act of criminal selfdestruction and not
to one committed "while the party was insane /"
By these rules let this policy be construed And
can it be successfully cOntendcd for one moment
that when the assured procured this policy he had
no intention of covering any of his coffee that
might be sent to him in vessels rating below Az nm
til he and the Company should agree unon tha GII
tiOndL premium to be charged in such cases What
were the reasons for his procuring this polcv and
paying the premium so large amountin adyanceP
Becauce he did not know ut what time and by what
vessels his correspondents in Rio miuht send hin,
the 5000 bags of coffee he had directed them to
purchase on his account, and he therefore wished
his property to be thus covered bv insurance
whenever it was afoat on the ocean, for it
might well be, that he might never hear
of the shipment of his coffee until its safe arrival or
loss. This necessity of the mercantile world has
given rise to these running policies, which cover
annually property to the value of millions of dollars
But If the view of these Insurance Companies is o
prevail, that the property is not covered until the
additional premium is fixed by them or agreed unon
between the parties, then very speedy termination
would be put to this kind OF policy and the defend
ants might as well close their agencies in this CITY
But such the Court held not to be Se true construc
ton of this policy. The policy nnant this and
nothing mOre that the defendants wourl insure tbe
coffee of plaintiff, in its transit from Rio to port
IN the United States, at p per cent. prctsum h,
rhdterer uesse carried butif carried in vessel 1otn
below Az, or by foreign vessel, additional ,re,
MUM should be paid them. Additional to trhat! WIZ
to the IL per cent. already paid, and such add
tOnal premium rs in the opinion of underwriters
would be equal to the increased risk to such cargo
in vessels rating below AZ or in foreign vessels
And this seems to have been the view taken by the
Sun Mutual Insurance Company itself in its CORES
pondence with its agent in this city; for aIthouph
in their letter of August 25th, 1856 they take the
ground that the assured had right to have this
risk on the Mary W. covered on this policy"
they subsequently, recede from this position
and in their letter of the 30h August then admit
he had The right but that the fixing of the premium
rested solely with them" The Court thought the
latter position as untenabe as the former. Assome-
thing had been said in the course of the argument
IN reference to the endorsement the policy of the
9th August, the Court remarked that they consid-
cred this endorsement fully warranted by the de-
PENDANTS letter to their agent of that date; and
that indeed, the agent, with that letter in his
hand, could have made other endorsement
The plaintiff presented the two PRAYERS and the
defendants presented three prayers. The Court re
marked that they agreed with the propositions of
law contained in defendants st and I'd PRAYERS and
plaintiff second prayer, and only rejected them be-
cause they were substantially embraced in the in
struction which the court would give to the iury
but they rejected the plaintiffs list prayer and the
defendants 81 prayer as in conflict with their view
ct the law OF the case and the Court then gave to
the jury the following instruction
81 the jury shall find from the evidence that
the defendants executed the policy of the 9th
July, 1855, and received from the plaintiff the
premium therein mentioned: and, that their
duly authorized agent in this CITY, made the
endorsements on the said policy, which have
been offered in evidence, and shall further
find, that l,S3O bags of coffee, belonging to
plaintiff, were shipped the 18th of July 1856 at
Rio, board the schr. Mary W. to be carried to New
Orleans and that when said schooner left Rio she
was scaworthy and in good condition; and shall
further find, that the said vessel and cargo were
subsequently, on said voyage totally lost by one of
the periIs insured against; and that said schooner
was rated lower in New York than AZ, then the
plaintiff is entitled to for one half the value
of said coffee so lost, at SIS per bag less such add-
tonal premium beyond the q per cent. as in the
opinion of the underwriters may be deemed adc-
quatc for the increased risk to cargo of coffee
shipped in vessel rating below AZ, with interest
from thirty days after such time as the jury may
find the defendants were furnished by plaintiff with
the preliminary proofs of his said loss; and there is
evidence in this case that the said schooner at
any period during the running of this policy rated
as Nigh as NJ in any of the insurance Offices in
New York
Hon. Henry May, Robert J. Brent and Vivian
Brent, Esqrs for the plaintiff.
Hon. John Nelson and Messrs. Brown & Bruno,
of Baltimore, and Hon. +. b. Cutting and Alexan-
der Hamilton, Jr., Esq, of New York, for the de
PENDANTS