Page:Federal Reporter, 1st Series, Volume 3.djvu/893

 886 FEDEBaL BEPOBTEB. �Bubject-matter about which that conflict arises, are not only competent, but may control the conclusion. �Mr. Sharpe did admit to Mr. Johnson, as I understand the latter's testimony, that he had asked for the money after he had known of the sale and the assignment of the certificate. Mr. Johnson was one of the ofSeers of the coal company at ihat time. The money had already been paid, and of course he was very much interested in knowing the actual state of affairs, and the substance of his testimony is that he asked Mr. Sharpe whether Mr. Buchanan had told him the prop- erty had been sold, and the certificate signed and transferred. He was very olosely cross- examined by counsel on the other side, but his testimony, I think, is unshaken on that point. Assuming Mr. Sharpe understood what was said to him, then I think there was an admission on his part. He says in one part of his examination he did demand the money, and effered to take $6,000 and credit Mr. Buchanan with the balance. When he was interrogated by counsel as to whether he might bave said that Buchanan had told him about the sale and the Assigiiment of the, certificate, his answer was: "I may have 30 stated." �In conclusion, ï may say, this property, having been pur- chased by the coal company, the money paid, and the whole transaction on its part having been in good faith, that it is the natural inclination. of a court of equity, if it cando so con- sis'ently with principles of law, to protect a party under such circumstances. I agree that the insurance company is not to lose, provided its equities are clear and distinct, not- withstanding the coal company may have paid its mouey; but it is to be recollected that Mr. Buchanan was the agent of the company. It had h,eld him out to the world as such, and under the circumstances it is not surprising that the coal company should suppose Mr. Buchanan had the right to do what he did, having transacted the business, such as loaning money, coUecting debts, and foreclosing mortgages. �Therefore, in a doubtf ul case Ijke this, — doubtful in some aspects of it, — I think, if there is to be a loss here, that it is ����