Fireman's Fund Ins. v. Globe Nav. Co.
Opinion
lead Opinion
Morrow, J.
On June 3, 1911, W. R. Grace & Co. chartered the American schooner Wm. Nottingham owned by the respondent, Globe Navigation Company. Under the terms of the charter party it was provided that:
“A sufficient amount for ship’s ordinary disbursements at port of loading, say not exceeding one-tbird of the freight, to be advanced by charterers, if required by captain, on acctfunt of freight under this charter party, subject to a charge of 7 per cent, to cover interest, insurance, and commission; advance to be indorsed on captain’s copy of charter party and all the bills of lading.”
No advance was indorsed on captain’s copy of the charter party, nor was any such indorsement made on any of the bills of lading; but the charterer, before the vessel set sail, advanced to the captain the sum of ¿1,650, British sterling ($8,032.20). Upon receipt of that sum, the captain gave W. R. Grace & Co. an instrument in writing, in words and figures as follows:
*275 On October 6, 1911, W. R. Grace & Co. took out insurance on the -advance mentioned in the foregoing writing, with Fireman’s Fund Insurance Company, the libelant herein; premium for such insurance being paid by W. R. Grace & Co. for the…