Stephens v. Illinois Mutual Fire Insurance

This was an action brought by Stephens, against the Illinois Mutual Insurance 'company upon the following state of facts: On the 25th of June, 1858, the firm of Banks, Bell & Co., being the owners of certain mill property, executed a mortgage thereon for $3,400, to a firm called Gaylord, Son & Co. On the 9th of November, 1859, Banks, Bell & Co. procured from the Illinois Mutual Eire Insurance company, a policy of insurance on the mill and fixtures, for the sum of $5,000, expiring November 9th, 1865. On the 8th of December, 1860, Banks, Bell & Co. sold and conveyed the premises to the…