The herald., 1898-10-26
Life Insurance Contracts

The supreme court of Georgia held, in
the recent case of the New York Life In
surance company VS.. Babcock, that con-
tract of life insurance is consummated
upon the unconditional written acceptance
of the application for insurance by the com
pany to which such application is made;
that the actual deliverance OF the
policy to the insured is not essential
to the validity of a contract of
life insurance unless expressly made SO by
the terms of the contract; that the receipt
by an agent from his insurance company of
a policy to be Internationally delivered by
him to the applicant is in law tantamount to
delivery to the insured, although the agent
never parts with the possession of the prop
erty, and although its delivery to the ap-
plicant is by contract made essential to its
validity, and that it followed from the
above that where an application for insur-
ance was accepted by an insur-
nnce company and policy duly executed
was issued thereon and was sent by the COM
pany from its home office in New York to
its local agent in Georgia to be uncondi-
tionally delivered to the applicant, who was
in life and in good health when the agent re-
CcIVeu CUe pOlICy, ullQ WuCIC tuc AScHIy III
stead of handing the policy to the insured,
kept it, but nothing remained for the in
sured to do before he was entitled to its pos
session, there was in law a complete de-
livery of the policy to the insured, and a
consummation of the contract of insurance,
and the company was not relieved of liabil-
ity on its contract because a receipt pre-
viously given by such agent to the applicant
for premium paid in advance contained a
stipulation to the effect that the company
should not be liable until the policy was de-
livered to the applicant while in good health.
Competition Of Cuban Sugar
T. j. Albert, United States consul at
Brunswick, says in his recent official report
as follows:
The Brunswick consular district is stu
ated in the center of the beet-sugar produc-
ing region of Germany. Believing any in
formation on this important industry, in
connection with the relations between Cuba
and the United States, would be deemed
interesting, I have attached a translation
from the Brunswick Landeszeitung which
reads as follows:
Whether Cuba is annexed to the United
States or not is unimportant from an eco
nomical standpoint. The application of
American customs tariff to Cuba means the
free import of Cuban products into the
United States. The American sugar in
terests possess extensive estates in Cuba,
and as the need of money has not grown
less in Cuba during the insurrection and
the war, it will not be difficult to acquire
still greater possession there. The United
States has a demand for sugar of 1000, 900
tons, of which Louisiana supplies 100000
tons, while 100000 tons come from beet.
sorghum, maple, and other domestic sugar
productions. Before the last revolution the
Cuban sugar production amounted to over
100000 tons. 1t is believed in we'll in.
formed sugar circles that Cuba will supply
the entire demand of the United States for
this article in the course of two or three
years. This means, in the first place. the
yearly deficiency for the American nation
Of round $45,00O, 900, which the duty on
imported sugar has hitherto produced. Il
means at the same time the Destruction
Of the sugar production Of Louisiana.
which cannot exist without the protection
Of the duty. The sugar cane can stand no
frost;. in Cuba there is no frost but in
Louisiana the sugar cane is visited with
FROST from time to time. We Calculate
Louisiana sugar 10 be worth only 80 = ton.