New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1874-03-28
AN ACT
NO. GO.

To enable planters, farmers, merchants
traders and others to pledge and paw1
cotton, sugar and other agricultural pro
ducts % merchants, factors and others
and to confer pledge by the transmits
sion of bill of lading or carriers receipt
by mail or by the carrier.
SECTION l. Be it enacted by the Senate
and House of Representatives of the State
OF Louisiana in General Assembly con-
vened, That, in addition to the privilege
now conferred by law, any planter or
farmer may pledge or pawn his growing
crop OF cotton. sugar or other agricultural
products tor advances in money, goods and
necessary supplies that he may require for
the production of the same by entering
into written agreement to pledge the same
and having the agreement recorded in the
Office OF the recorder of mortgages of the
| parish where said cotton, sugar or other
agricultural product is produced, which re-
corded contract shall give and confer on
| the merchant or other person advancing
| money. goods and necessary supplies for
| the production Of the said agricultural pro.
duct, a right of pledge upon the said crop.
the same as If the said crop had been in the
possession of the PLEDGE. provided, that
the right OF pledge thus conferred shall be
subordinate TO that OF the claim of the
lab0rers for wages and for the rent of the
land On which the crop was produced.
SEC. :. BE 1t further enacted, ETC., That
when any merchant, factor, or other person
has advanced money, property or supplies |
on cotton, sugar or other agricultural pro- |
ducts, and the same has been consigned to |
him by ship, steamboat vessel, railroad or |
other carrier, the said agricultural products |
snail be pledged to the cOnsignee thereof |
from the time the bill of lading thereof |
shall De put in the mail, or put into the |
possession Of the carrier for transmission to
the copsignee, and the right of pledge shall
be perfect, with right of sale of said prop
erty. which shall be fully vested in said con.
slgnee, with the right to appropriate the
proceeds Of sale to the payment of the
amount due for such advances as NAV have |
peen made thereon; provided, that nothing |
herein shall be SO construed as to defeat or
lessen the privileges of the laborers and
landlords IN this State for wages and rent,
as now existing by law.
SEC. 3. Be it further enacted. etc, That
all merchants, factors and others who NAV
have general balance of account, or any
sum OF money due them by any consignee
or other person sending them cotton. sugar
or other agricultural products for sale at
the port OF New Orleans, or at any other
town or city in the State, shall have
pledge upon all such property consigned or
sent to them by ship, vessel railroad or
other carrier from the time the bill of lad.
ing or receipt therefor by the carrier is de-
posted III the mail or given to the carrier
for transmission, which pledge shall be per-
fect, with the right of sale of said pr 1perty
which shall be fully vested in said CON
slgnee, with the right to appropriate the |
proceeds of sale to the payment of the
amount due such consignee; provided, that
nothing herein shall be so construed as to
ieteat or lessen the privilege of the laborers
ana landlords in this State for wages and
rent as now existing by law.
SEC. a. Be it further enacted, etc, That
his act shall take effect from and after it's
passage, and all laws and parts of laws in
conflict with the provisions of this act be
md the same are hereby repealed.
lSigned) CHARLES w. LOWELL,
Speaker of the House of Representatives.
tSlgned) c. c. ANTOINE.
Governor and President of the
Senate.
Approved March 81. 1874.
lSigned) WILLIAM P. KELLOGG.
Governor OF the State of Louisiana.
A true copy: 1
p. G. DEsLONDE g
Secretary of State. 10