United States Fire Insurance v. Meyer

His Honor, JOHN ST. PAUL,

rendered the opinion and decree of the Court, as follows:

Defendant, Meyer, insured his building then in course of construction, the policy also covering building materials in and around the premises.

Being in need of money to carry on the construction, he borrowed of Mrs. J. D. Taylor $1,500, and to secure the same mortgaged the premises and had the policy made payable to the holder of the mortgage note.

When the building was practically completed it was destroyed by fire, and the loss was adjusted and about to be paid to Mrs. Taylor. But the Crescent City Manufacturing…