FIRE POLICIES AS SECURITY.

Otago Witness, Issue 2309, 2 June 1898, Page 17

FIRE POLICIES AS SECURITY.

Invehcargili,, May 25.

In the District Court, before Judge Ward to-day, the deputy-aesigDee in bankruptcy floored for an order requiring the B*nk of New Zealand to deliver certain flre insurance policies, amounting to £1750. The facts were that Brewer and Trembabh, auctioneers, of Gore, h*d their premises insured in the Standard office, and executed an assignment of them to the Colonul Bank, ths securities being afterv.arJs fcraufiemd to the Bank of New Zealand. Shortly afterwards the'polieies were allowed to Ihjjse, sn<i fresh onei were taken out in the Liverpool and London and Globe. Brewer and Trembath's premises were burnt, and they filed the latter policies. It v contended that they were saob assigned to the bank, bub simply placed there for safe keeping. The bank, however; claim to have a special lieu on them. Judge Ward dismis&ed the motion to compel the bank to give up the lire insurance policies without calling on counsel for the bank, holding bliab the expression "any securities whatsoever" used iv the letter given by Brewer and Trembabh to the bank to define the terms on which the bank was to hold securities gave the defe'f aanb bant these policies. j WAW A Tromb&th's application for discharge from baukfup'oy was gdjourned, being opposed. '