Bankers Trust Company, a Corporation v. Pacific Employers Insurance Company, a Corporation, and the Century Insurance Company, Limited, a Corporation

ORR, Circuit Judge.

Appellant acquired from appellees four policies of fire insurance securing the owner of the Bankers Trust Building in Reno, Nevada, against loss by fire. On or about February 5,1957, the said building was totally destroyed by an explosion and fire, while the said insurance policies were in full force and effect. The policies had a face value of $290,000, but by specific terms contained in the policies recovery was limited to the actual cash value of the property. Further provisions were to the effect that the amount of any loss was to be determined by an appraisal should…