DAVIS, Circuit Judge.
On July 2, 1918, plaintiff below, Electric Reduction Company, agreed to purchase from one Jouravleff 150 to 175 tons of tungsten ore. Jouravleff was to ship a car of 30 to 35 tons each month, beginning in August, 1918. The plaintiff was "to establish immediately a banker's acceptance for $30,000 in favor of the seller for 60 days to cover and to be deducted from the first car shipped. A like acceptance to be issued, if necessary, on each following...
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