Question 349.— A bank holds security under section 74 on beef, pork and cured meats. The insurance policy lodged with the bank covers beef, pork, cured meats, lard and lard pails, bacon sacks, salt, and all such other articles as are used in a pork packing establishment. The loss, if any, under the policy is made payable to the bank, " as its interest appears."

A total loss by fire occurs. Can the bank retain the whole insurance? If not, what are its rights?

Answer.—We think the insurance must be apportioned to the various items which it covers, and that the bank is entitled to receive the portions covering beef, pork and cured meats only.

If the loss, if any, had been made payable to the bank absolutely, not limited to its interests in the property, the bank could, doubtless, collect and retain the insurance.