Commercial Union Fire Ins. of New York v. Marshall

DENISON, Circuit Judge.

Marshall and Neely owned and operated a sawmill in Mississippi. Dacus was a broker or dealer in manufactured lumber in Memphis. He made advances to the mill,' to secure which advances lumber as cut was to be piled and marked for him. Pursuant to the contract, this gave Mm, at that stage, at least an equitable interest. The contract also provided that at frequent intervals bills of sale pf the new lumber should be given to him to secure him for his advances. TMs- was done. The lumber was insured with the companies above named. A portion was later burned, and these suits…