1, 1952, four days before this payment was made. On the morning of Tuesday, February 5, 1952, he and his New York lawyer attempted to stop the New York bank from paying under the letters of credit. At that time the shipments in question were upon the defendant's pier in Jersey City; they had not been loaded.
When plaintiff's representatives called at the bank they were told that Trans-America and its assigns had presented the bills of lading in question and were demanding payment under the letters of credit. They were further told that payment had been refused because two of the bills of lading showed unvalidated alterations in the loading date from February 1 to January 31; that the bills had been re-presented this time properly validated andthat the bank was about to make payment. The bank agreed to hold up the payment until that afternoon.
Instead of investigating at the pier, plaintiff's affidavits state, its representatives returned to the bank with a letter requesting it not to pay and with a summons naming the bank as a party defendant in an action for fraud against Trans-America. The bank concluded that it must make the payments unless actually enjoined, and did so.
On the following day, February 6, according to the affidavits, plaintiff's representatives learned from another Japanese firm that the newsprint in question had not yet been loaded. They then visited the pier and saw it there. They obtained an admission as to the falsity of the loading date from defendant's bill of lading clerk but