Shay v. Merchants Banking Trust Co.

Opinion bx

Mr. Justice Stern,

This is an interpleader issue to determine which of the parties is entitled to the amount due on a life insurance policy. The insurance company paid the proceeds of the policy into court, amounting to $6,755.83, which, through accrued interest, less prothonotary’s charges, amounted at the time of the trial of the issue, in January, 1938, to $7,041.29. The court directed a verdict for defendant in this amount.

Plaintiff, Augusta D. Shay, widow of Arthur L. Shay, the insured, was named as beneficiary in the policy, which was dated January 27, 1905. Shay died on…