American Eagle Fire Ins. Co. v. Gayle

SIMONS, Circuit Judge.

A large quantity of tobacco in the possession of Gaines as receiver for the Northern District Warehousing Corporation at Carrollton, Kentucky, was completely destroyed by fire. The tobacco had been insured with companies lodging the appeal, in the aggregate sum of $39,000. Its appraised value was $35,642.12, but the interest of the receiver therein was only $22,-458.02, and this amount was paid by the appellants immediately upon its ascertainment, disclaiming greater liability under the terms of the policies. The appellees having asserted an interest in the tobacco and…