Counsel for the plaintiff on Thursday brought forth the Jargument that his client was entitled to be paid in the euro rency of the day on which the surance policy became due and that the exchange rate of the day must be used. He quoted German a' thority on what a Reichsmark was, these holding that it had been different at various stages of the Empire and that contracts must be satisfied in the "Reichsmark of the period in which the contract was fulfilled, It was not only equitable, but logical, that the money shankd be paid in the currency of the doy.
Mr. Walker concluded his lon argument with the statement that hig client was not informed by the company that his policy had' been wiped out by the depreciation of the mark and he did not learn that this was the case until he tried to surrender it.
Mr. Fleming said that this was Just one of the many cases where person speculated in the mark at the time it was depreciating rapidly in hopes that at some time within the 20 years, German currency of that time would again increase in value. At the time the policy was bought marks were worth about 200 to the tae! paid only al or four hundred dollars Mexican, currency for the policy.
Counsel made an absurdity of the claim by saying that had a person in 1928 invested one dollar insurance policy of this time, he would be claiming one billion in marks, This would be enough to ruin the 10 or more largest insurance kompenies in the world. Me concluded his argument with quoting eases in American law: in which decisions were given against persons claiming on notes issued by thy Confederate Governnient during the Civil War, At the conclusion of the arg ments his Honour reserved judg ment.
Text read from the printed page and cleaned; old type leaves the occasional error.