Court of Appeals of Texas February 4, 1937, No. 10314. (P. H. S. Tobacco Co. v. Daskas)

CODY, Justice.

The controlling facts in this case are that appellee Daskas was the owner of three fire insurance policies on which the insurance company admitted liability in the total sum of $3,754.78; he procured a loan from a bank for $1,325, and pledged as security therefor the two smaller policies, totaling $1,619.12.