The exceptions filed by the plaintiff raise a question as to the mode of applying credits and calculating interest. We think the principle insisted oil by the plaintiff is the true one. The exceptions are, therefore, allowed and the account must be reformed accordingly. The principle is settled that a payment should be applied to extinguish the interest on the amount of the sum due at the elate of the payment and the residue, if any, be applied in extinguishment of principal.

The report will be reformed according to the opinion by a reference to the clerk.

Pee Curiam, Order to refer the report for correction.