PAGE, Circuit Judge.
Plaintiff (plaintiff in error) sued defendant (defendant in error) because of the latter's refusal to pay a draft, drawn against its letter of credit. The jury returned an instructed verdict for the defendant. So far as here material, the letter of credit reads:
"To the New York Oversea Company, Inc., No. 314 Cole Building, San Francisco — Gentlemen: We hereby authorize you to draw on the Corn Exchange National Bank, in Chicago...
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