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TIDEWATER COAL EXCHANGE v. NEW AMSTERDAM CASUALTY CO.

No. 4.

28 F.2d 511 (1926)

TIDEWATER COAL EXCHANGE, Inc., v. NEW AMSTERDAM CASUALTY CO.

District Court, D. Delaware.

July 16, 1926.

Attorney(s) appearing for the Case

Ward & Gray, of Wilmington, Del., for plaintiff.

Charles F. Curley, of Wilmington, Del., for defendant.

MORRIS, District Judge.

Under the facts now set out in the declaration, I think it obvious that the purpose of the bonds sued upon was, to use the language of one of the rules of the exchange, "to guarantee the credits extended" in money and property by the exchange to its members, of whom Coale & Company, Inc., the principal in the bonds, was one. Credits in property, coal, were extended by the exchange to Coale & Co. Its debits for the coal so obtained were...

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