Rufus Wheeler Peckham

“ The case is not to be treated or decided as one between the United States and the insurance companies. On the contrary, the rights of the companies, as between them and the government, are not the subject-matter of the suit. The insurance companies, as such, have no right of action against the government. It is the right of the claimant, the tobacco company, which is to be passed upon: and, unless that company has a legal cause of complaint, no recovery can be had in this suit. The companies must recover in the name of the tobacco company, and by reason of its rights. ”

“ We are also of opinion that the tobacco company had an insurable interest in the stamps. It owned them absolutely, having purchased and paid for them. The right of reimbursement under the conditions named in the statute did not affect that insurable in nor prevent the possibility of loss or prejudice arising from the destruction of the stamps. Because an owner of property may be able to reimburse himself, in case of its destruction, from other sources, is no reason for denying to such owner an insurable interest in the property. ”

“ An owner has an insurable interest in his property, to the extent of the value of the building on it, not-withstanding the existence of a mortgage on the property sufficient to absorb it. Per Bradley, J., in Insurance Co. ”