Brownsville Second National Bank v. London & Landcashire Ins.

Opinion by

Mr. Justice Schaefer,

To this action by the Second National Bank of Brownsville, holder of a mortgage of $20,000 made by Charles E. Shields, appellant insurance company interposes a defense to a policy inuring to the benefit of the mortgagee, which to our minds is more ingenious than sound.

The total insurance on the property, which had been damaged by fire, amounted to $35,000 in eight different companies. While this suit is upon but one of the policies, it has been agreed that the result in this case shall control the others. There had been an appraisement of the loss by agreement…