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the proprietors of the stock of the late fire insurance company of the town of Alexandria, on the eighth day of March, eighteen hundred and sons incorporathirty-five, and the representatives and assigns of such of them as have insurance comsince that time died, or transferred their interests, be, and the same are, pany. hereby incorporated and declared to be a body politic, under the name and style of the Fire Insurance Company of Alexandria.
The description of the property insured must be such as the property is, and not such as will in any way reduce the rate of the premium. Ibid., 56.
'The doctrine, as applied io policies against fire on land, has for a great length of time prevailed, that losses occasioned by the mere fault or negligence of the assured, or his servants, unaffected by fraud or design, are within the protection of the policy, and as such are recoverable from the underwriters. This doctrine is fully established in England and America. Waters v. The Merchants’ Louisville Ins. Co., 11 Peiers, 213.
It is a well established principle of the common law, that in all cases of loss we are to attribute it to the proximate cause, and not to the remote cause. This has become a maxim to govern cascs arising under policies of insurance. Ibid.
L. & P. at the time an insurance was made for them against loes by fire, were entitled to one third of the property by deed, and to two thirds as mortgagees; but one moiety of the whole was held under an agreement which had not been complied with, and which purported on its face to be void, if not complied with; but the other contracting party had not declared it void, nor called for a compliance with it. L. & P. had an insurable interest in the property. The Columbian Ins. Co. v. Lawrence, 2 Peters, 46.
That an equitable interest may be insured, is admitted; and the court perceive no reason which excludes an interest held under an executory contract. While the contract subsisis, the person claiming under it has undoubtedly a substantial interest in the properiy. If it be destroyed, the loss, in contemplation of law, is his. If the purchase money be paid, it is his in fact. If he owes the purchase money, the property is equivaleni, and is still valuable to him. The embarrassment of his affairs may be such thai his debts may absorb all his property; but this circumstance has never been considered as proving a want of interest in it. The destruction of the property is a real loss to the person in posses. sion, who claims title under an executory contract; and the contingency that his title may be defeated by subsequent events does not prevent this loss. Ibid. 46.
Action on a policy of insurance on the Glenco Cotion Factory," against loss or damage by fire. The policy was dated the 27th day of September, 1838, and was to endure for one year. The policy contained a clause by which it was stipulated by the assured, that if any other insurance on the property had been made, and had not been notified to the assurers, and mentioned in or endorsed on the policy, the insurance should be void; and if afterwards any insurance should be made on the property, and the assured should not give notice of the same to the assurers, and have the same endorsed on the policy, or otherwise acknowledged by the assured in writing, the policy should cease; and in case any other insurance on the property, prior or subsequent to this policy, should be made, the assured should not, in case of loss, be entitled to recover more than the portion of the loss should bear to the whole amount insured on the property; the interest of the assured in the property not to be assignable, unless by consent of the assurers, manifested in writing; and if any sale or transfer of the property without such consent is made, the policy to be void and of no effect. On all the policies of insurance made by the insurance company, there was a printed notice of the conditions on which the insurance was made. The declara. tion alleged that Carpenter was the owner of the property insured, and was interested in the same to the whole amount insured by the policy; and that the property had been destroyed by fire. The facts of the case showed that the property had been mortgaged for a part of the purchase money, and the policy of insurance was held for the benefit of the mortgagor. Another insurance was made by another insurance company, but this was not communicated in writing to the Providence Washington Insurance Company; nor was the same assented to by them, nor was a memorandum thereof made on the policy. By ihe Court: No doubt can exist that the mortgagor and the mortgagee may each separately insure his own distinct interest in property against loss by tire. But there is this imporiant distinction between the cases; that where the mortgagee insures solely on his own account, it is but an insurance of his debt; and if his debt is afterwards paid or extinguished, the policy ceases from that time to have any operation; and even if the premises insured are subsequently destroyed by fire, he has no right to recover for the loss, for he sustains no damage thereby; neither can the morigagor take advantage of the policy, for he has no interest whatsoever therein: on the other hand, if the premises are destroyed by fire, before any payment or extinguishment of ihe mortgage, the underwriters are bound to pay the amount of the debt to the mortgagee, if it does not exceed the insurance. Upon such payment, the underwriters are entitled to an assigninent of the debt from the mortgagee, and may recover the same from the mortgagor. The payment of the insurance is not a discharge of the debt, but only changes the creditor. Carpenter v. The Providence Washington Insurance Company, 16 Peters, 495.
When the insurance is made by the mortgagor, he will, notwithstanding the mortgage or other encum. brance, be entitled to recover the full amount of his loss, not exceeding the insurance, since the whole loss is his own. The mortgagee can only insure to the amount of his debt; whereas the mortgagor can insure to the full value of the property, notwithstanding any encumbrances ihereon. Ibid.
An assignment of a policy by the assured only covers such interest in the premises as he may have had at the time of the insurance, and at the time of the loss. If a loss takes place after the policy has been assigned, the assignee alone is entitled to recover. The rights of the assignee under ihe policy cannot be more extensive than the rights of the assignor. Cited the Columbia Insurance Company v. Lawrence, 10 Peiers, 507, 512; 2 Peters, 25, 49. Ibid.
Policies of insurance against fire are not deemed in their nature incidents to the property insured, but they are mere special agreements with the person insuring against such loss or damage as they may sustain ; and not the loss or damage that any other person having an interest as grantee, or mortgagee, or creditor, or otherwise, may sustain by reason of ihe subsequent destruction by fire. Ibid.
The public have an interest in maintaining the validity of ihe clauses in a policy of insurance against The property Sec. 2. And be it further enacted, That the property, real and perof the late com.sonal, owned by the late fire insurance company of Alexandria, be, and pany vested in them.
the same is hereby vested in the company newly created, subject, how
ever, to all debts, contracts, and engagements of the former company. Parts of the Sec. 3. And be it further enacted, That an act of Congress, passed Act of Congress on the ninth day of March, eighteen hundred and fourteen, entitled “ An of 1814, ch. 24, revived,
act to incorporate a fire insurance company, in the town of Alexandria, in the District of Columbia," with the exception of the first, second, and tenth sections thereof, be, and the same is hereby revived and declared to be in full force as to the company hereby created, and that the company hereby created, shall have all the powers and capacities which were granted to the former company by the said act; and shall be subject to the payment of all debts due, or contracted by the former com
pany, and shall be chargeable with all their contracts. Election of Sec. 4. And be it further enacted, That the election of president and officers, when directors as made by the stockholders of the former company on the first held.
Monday in November last, be, and the same is hereby confirmed; that the president and directors shall continue in office for one year from the first Monday in November last, and until others shall be chosen in their stead; and that all acts by them done within the provisions of the former charter shall be, and are hereby declared to be binding and obligatory on the company hereby created.
Sec. 5. And be it further enacted, That this act shall continue in force, for the term of eighteen years,
from and after the passing thereof, and until the end of the session of Congress then next following.
APPROVED February 17, 1836.
Chap. XL.-An Act to extend the charters of the Bank of Columbia in Georgetown,
and the Bank of Alexandria in the city of Alexandria. [Expired.)
Be it enacted, by the Senate and House of Representatives of the United
States of America in Congress assembled, That to enable the president The charters and directors of the Bank of Columbia in Georgetown, and the presiextended and limited to the
dent and directors of the Bank of Alexandria in the city of Alexandria, 4th of March, to close all the concerns of the said banks, to recover the debts due to 1839.
said banks, or either of them, to pay the sums due from said banks or either of them, and to divide the capital and profits which may remain among the stockholders of said banks, in proportion to their respective interests, the charter of the said Bank of Columbia, and the charter of the Bank of Alexandria, shall be, and are hereby, extended and continued and limited to the fourth day of March, one thousand eight hundred and thirty-nine; and that all laws now in force, imposing penalties, or inflicting punishments, for crimes or offences committed in relation to said banks, shall be, and the same are hereby, declared to be extended
and continued, and to remain in force, to the same period of time: Proviso. Provided, That no new discounts shall be made by either of said banks,
except such as may be deemed proper to renew such notes as have circulation by either of them, or any of their officers on behalf of the said banks from and after the passing of this law.
already been discounted, nor any promissory note thereof be put in fire. They have a tendency to keep premiums down to the lowest rates, and to uphold institutions of this sort, so essential to the present state of the country for the protection of the vast interests embarked in manufactures, and on consignments of goods in warehouses. Ibid.
Questions on a policy of insurance are of general commercial law, and depend upon the construction of a contract of insurance, which is by no means local in its character, or regulated by any local policy
Ibid. The Circuit Court charged the jury, that at law, whatever might be the case in equity, mere parol notice of another insurance on the same property was not a compliance with the terms of the policy ; and that it was necessary in the case of such prior policy, that the same should not only be notified to the company, but should be mentioned in or endorsed on the policy; otherwise the insurance was to be void and of no effect. Held, that this instruction of the Circuit Court was correct. It never can be pro. perly said that the stipulation in the policy is complied with, when there has been no such mention or endorsement it positively aires; without which it declares that the policy shall be void and of no effect. Ibid.
Sec. 2. And be it further enacted, That instead of a president and Five directors nine directors, as are now required by law, there shall be elected on the
to be elected. first Thursday of March next, and on the first Thursday of March in each year annually thereafter while this law remains in force, by the stockholders of each of said banks respectively, five directors, any three of whom shall be a quorum, who shall elect from among themselves, a president, who shall retain all the powers and privileges of a director; and in case of refusal to serve, death or resignation, or disqualification of the president of either of the said banks, the directors of such bank shall meet as soon as convenient thereafter, and after filling up the vacancy, in the number of directors required by this act, elect another person for president in the manner before directed.
Sec. 3. And be it further enacted, That any number of stockholders General meet. of either of said banks, who, together, shall be proprietors of five hun- ing, how called dred shares, shall at any time have power and authority to call a general meeting of the stockholders of such banks, giving one month's notice in one or more newspapers printed in the District of Columbia, and when they shall have met as aforesaid, shall have power to transfer to trustees, the whole and entire authority of closing the affairs of the said Bank of Columbia, and Bank of Alexandria, or either of them, as fully and completely as is given to the directors by the first section of this act, and that, in case of the refusal to act, death, resignation or disqualification of any one of the trustees aforesaid, the stockholders shall, by giving the usual notice, proceed to elect another to supply the vacancy. APPROVED, February 25, 1636.
STATUTE I. Chap. XLI.- An Act authorizing a special term of the Court of Appeals, for the Feb. 25, 1836.
Territory of Florida, and for other purposes.() Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That a special term of the Special term court of appeals, for the Territory of Florida, shall be holden at Talla- on the first Mon
day in May. hasse, the seat of Government of said Territory, on the first Monday in May next, and all appeals, writs of error, motions, and suits, depending or returnable to the last January term, shall be heard and decided at the special term herein appointed, in the same manner as they might have been, under the existing laws if the January term had been holden according to law.
Sec. 2. Be it further enacted, That when, by the death, sickness, or Special terms inability to attend, of any of the judges, or for any other cause, the may be appointregular terms of said court shall not be holden, it shall and may be lawful for the judges thereof to appoint a special term.
Sec. 3. Be it further enacted, That the county of Franklin, in the County of Territory of Florida, shall be added to, and forma part of the middle Franklin to be judicial district of said Territory, and it shall be the duty of the judge middle judicial of said middle district to hold two regular terms of the superior court, district. at the town of Apalachicola, commencing on the second Mondays of April and November, and special terms at such other periods, as may be required by business, and not interfere with the business of said court in other counties.
Sec. 4. Be it further enacted, That there shall only be one term of the superior court holden for the counties of Madison and Hamilton, in
APPROVED, February 25, 1836.
(a) See notes of acts relating to the Territory of Florida, vol. 3, 523.
Be it enacted by the Senate and House of Representatives of the United 5, 1836, chap. States of America in Congress assembled, That the collector of the port
of New York, be and he is hereby, authorized, as he may deem best Term of pay, calculated to secure the interest of the United States, to cause to be extended where extended (with the assent of the sureties thereon) to all persons who property has
have suffered loss of property by the conflagration at that place, on the been lost.
sixteenth day of December last, by the burning of their buildings or merchandise, the time of payment of all bonds heretofore given by them for duties, to periods not exceeding three, four, and five years in equal instalments from and after the day of payment specified in the bonds; or to allow the said bonds to be cancelled, upon giving to the said collector new bonds with one or more sureties, to the satisfaction of the said collector, for the sums of the former bonds, respectively, payable in equal instalments in three, four, and five years, from and after the day of payment specified in the bonds to be taken up or cancelled as aforesaid; and the said collector is hereby authorized and directed to give up, or cancel all such bonds upon the receipt of others described in this section; which last mentioned bonds shall be proceeded with, in all
respects, like other bonds which are taken by collectors for duties to Proviso. the United States, and shall have the same force and validity: Provided
That those who are within the provision of this section, but who may have paid their bonds subsequent to the late fire, shall also be entitled to the benefit of this section, and that the said bonds shall be renewed from the day when the same were paid, and said payments refunded, if
not previously put into bank to the credit of the Treasurer of the United Proviso. States. And provided also, That the benefits of this section shall not
be extended to any person whose loss shall not be proved to the satisfaction of the collector, to have exceeded the sum of one thousand
dollars. Time extend. Sec. 2. And be it further enacted, That the collector of the port of ed on other
New York, is hereby authorized and directed to extend the payments bonds.
in the manner prescribed in the first section of this act, of all other bonds given for duties at the port of New York prior to the late fire, and not provided for in the first section as aforesaid, for six, nine, and twelve months, from and after the date of payment specified in the bonds; which bonds when executed agreeably to the provisions of this section, shall be payable with interest, at the rate of five per centum
per annum, which interest, shall be computed from the times the respecProviso. tive bonds would have fallen due, if this act had not passed; Provided
however, That nothing contained in this act, shall extend to bonds which Proviso. had fallen due before the 17th day of December last : Provided also,
That if in the opinion of the collector aforesaid, any of the bonds which may be given under this act or the payment of which may be postponed, shall at any time be insecure, it shall be the duty of the said collector to require such additional security as shall be satisfactory to him, and on the failure of such additional security being furnished, the payment of such bond shall be enforced forthwith.
APPROVED, March 19, 1836. STATUTE I. March 19. 1836. Curap. XLIII.-An Act authorizing the Secretary of War to transfer a part of (Obsolete.)
the appropriation for the suppression of Indian hostilities in Florida, to the credit of subsistence.
Be it enacted by the Senate and House of Representatives of the United
States of America in Congress assembled, That the Secretary of War (a) An act to remit the duties upon certain goods destroyed by fire at the late conflagration in the city of New York, July 7, 1838, chap. 174.
is hereby authorized to transfer so much of the appropriation for the suppression of Indian hostilities in Florida, to the credit of subsistence, as may have been taken from the latter fund, for the former purpose.
APPROVED, March 19, 1836.
CHAP. XLIV.-An Act to provide for the payment of volunteers and militia March 19, 1836.
corps, in the service of the United Siates. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the officers, non-com- Volunteers missioned officers, musicians, artificers and privates, of volunteer and and militia to militia corps, who have been in the service of the United States, at any nished as protime since the first day of November, in the year of our Lord one vided for the inthousand eight hundred and thirty-five, or may hereafter be in the ser- fantry of the
United States. vice of the United States, shall be entitled to and receive the same monthly pay, rations, clothing or money in lieu thereof, and forage, and be furnished with the same camp equipage, including knapsacks, as are, or may be provided by law for the officers, musicians, artificers and privates, of the infantry of the army of the United States. Sec. 2. And be it further enacted, That the officers of all mounted
Officers of companies who have been in, or may hereafter be in, the service of the mounted com
allow. United States, shall each be entitled to receive forage, or money in lieu ances to. thereof, for two horses, when they actually keep private servants, and for one horse when without private servants, and that forty cents per day be allowed for the use and risk of each horse, except horses killed in battle or dying of wounds received in battle. That each non-commissioned officer, musician, artificer and private, of all mounted companies, shall be entitled to receive forage in kind for one horse, with forty cents per day for the use and risk thereof, except horses killed in battle, or dying of wounds received in battle, and twenty-five cents per day in lieu of forage and subsistence, when the same shall be furnished by himself, or twelve and a half cents per day for either as the case
Sec. 3. And be it further enacted, That the officers, non-commis- Allowance sioned officers, musicians, artificers and privates, shall be entitled to one
for travelling. day's pay, subsistence, and other allowances, for every twenty miles' travel from their places of residence to the place of general rendezvous, and from the place of discharge back to their residence.
Sec. 4. And be it further enacted, That the volunteers or militia, Volunteers or who have been or who may be received into the service of the United militia who may
be wounded or States, to suppress Indian depredations in Florida, shall be entitled to
disabled. all the benefits which are conferred on persons wounded or otherwise disabled in the service of the United States.
Sec. 5. And be it further enacted, That when any officer, non-com- Provision for missioned officer, artificer, or private, of said militia or volunteer corps,
widows, &c. of who shall die in the service of the United States, or returning to his
in the service. place of residence after being mustered out of service or at any time in consequence of wounds received in service, and shall leave a widow, or if no widow, a child or children under sixteen years of age, such widow, or if no widow, such child or children, shall be entitled to receive half the monthly pay to which the deceased was entitled, at the time of his death, for and during the term of five years; and in case of the death or intermarriage of such widow before the expiration of five years, the half pay for the remainder of the time shall go to the child or children of said decedent: Provided always, That the Secretary of
Proviso. War shall adopt such forms of evidence, in applications under this act, as the President of the United States may prescribe. Sec. 6. And be it further enacted, That the volunteers and militia
those who die