New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1876-10-24
BYTELEGRAPH. B Y H.


Persoaal.
FAsHKGToN, October 23.-Noretarv
Chsndler and Postmaster General Tyner
hAvo returned.
Pensacola Nuvyyard.
Captain George c. Bioker has been or.
dered to take command of the Pensacols
nsvyyard.
Life InsuraRce Law.
The Supreme Court of the United States
to-day decided several important life in
eursnce csses. Tho parties were the New
York Life lasnrance Company and the
Manhattan Lite Incur snce Company against
William O. Statham. Charlotte Seyms and
the executor of Charles L. Buck, Of Aissis-
sippi: 1t appears the parties severally in
sured were unable to pay their premfune 2,
owing to the breaking out of the civil war
In 1861. Tho non-pAyment of the premiums
in arrear was get up in bar of tho actionsI
and the plaintiffs respectively relied on tho
to deduct the premiums in arrear from the
amounts of the policies. The court deliv.
cred the following opinion:
Apclicy OF life assurance which stipu-
lates for the payment Of IN annual premium
by the assured, with Q condition to be void
on non payment, is not IN insurance from
year to year like common fire policy, but
the premiums constitute nm annuity. the
entire assurance for life, and tho condition
is . condition subsequent, making void the
policy BY it's n0n-conformance: but the
time OF pay ment In such policies ID material,
and OF the essence of the ContraCt, and
failure to pay involves IN absolute for
feiture which can not be relieved against.
In equity. If failure to pay the annual
premium, caused BY the Intervention of war
between tho territories in which the insur-
apce company and the assured respectively
reside, which makes it unlawful for them
to hold intercourse, the policy 10 neverthe-
less forfeited if the company insist ON the
condition; but in such case the assured 10
entitled to equitable value Of the policy
arisiDg from the premium actually paid.
Tho equitable value is tho difference be-
tween the cost of . new policy and the
present valus of the premium yet to be
paid on the forfeited policy whom the for
feiture occurred, and may be recovered in
IN action st law or suit in equity. The doc-
trine Of revival of contracts suspended
during the war 10 enc based ON considera-
tons Of equity. and Justice, and can not b
be unjust or inequitable to revive, a.
whore time is Of the essencs of tho con-
tract, or the parties can not be made equal.
Tho average rate Of mortality 10 the funda-
mental basis of life assurance, and - this
10 subverted by giving to the assured tho
option to revive their policies or not after
they have been suspendedt BY . war, since
none but tho sick and dying would apply,
it would be uujust to compel . revival
sgsinst the COMPANY
Tho Chief Justice and Associates Cliff
ford, EtroDg and Hunt dissensod.s
The court reversed the decree. and judG-
ments Of tho Circuit Court for Mississippi.
remsnding the cause for further proceed
ings. il conformity with the opinion deliv-
cred to-day.
In the Insurance cases the court says:
The complainants In tho various osses may
amend their pleas If 20 advised.
Chief Justice Waite, iu dissenting, agreed
with the majority of the court that judg.
ment should be reversed. but did not think
that default to pay annual premiums, even
under tho circumstances, raises IN implied
premise By the company to pay the assured
what his policy was equitably worth st the
time. He therefore diesents from that part
of the judgment which remauds the cases
for further trial on such premises.
Justice Clifford, dissenting, said: Whera
the parties to IN executing money contract
live in different countries and tho government
of those oouatries become involved in War
with each other the contract between such
parties 10 suspended during the continu-
snce of the war and revives whom peace
ensues, and that rule, in my Judgment, is
- applicable to the contract Of life insur-
ance . to any other exeoatory contract.
Justice Strong, while concurring in the
revisal, dissen:ed entirely from the opinion
Of tho court. He held that upon failure to
pay the premium the assured had no rights
under any circumstances. 49, 81
Red Cleud's People Dlssatis1ea.
Tho Indian Commissioners has NO con-
Armation of the reported removal Of Red
Cloud'A bands twenty-five miles from the
agency and their refusal to receive rAti0us.
However, he says, Red Cloud's people have
long been dissatisfied, and he 10 FREQ to con-
fees that affairs at tho agency have rather
. bad lcok. There are about 5000 Indians
ct the agency, including men, women and
children.