American S. S. Co. v. Indemnity Mut. Marine Ins.

BROWN, District Judge.

Tbe above libels were filed to procure a. judicial construction of tbe so called “franchise” clause in two time policies of marine insurance upon the steamship John W. Gates, providing that “in the event of particular average, the assurers only to be liable for the excess of one-half per cent, upon the entire value.”

Each policy contained two separate valuations; one upon the hull, tackle, etc., and another upon the engines, machinery, etc.; and a decision is sought upon the question whether the computation of the deduction of the one-half per. cent, should be made upon…