New-York tribune., 1879-02-03
ERIrDS 0N BILLS o. LADING.


A REPORT oS TIT BILL OF Mr. HrwUT 10 TEr-
VENT FRAUD.
WAsHIyGroN Feb. 2.-Gepresentatiye Bliss, of
New-York in behalf Of the Committee ON Com
rnerre has submitted 10 the House Of Representa-
tives the following report upon the bill intTodu ed
by Abram :. Hewitt last session, 70 facilitate the
negotiation of oils Of Iadiug and other commercial
instruments, apd to punish fraud thereon:
The bill j. the OuigTOwtn o. the sentiment OF the
merchants IN "uL commercial centres ihr I3ciF I0I
fraud In obtaining adv lnccs OF cr'lt D. DIS OF eA-
change OtlrIWtst Oh bills. Of I1dlng, warehouse re-
require remedy. NutuDti, oi commerce. hnu podIu'
Of trade IN various states have taken action recon
mcnding the passage of such Law proposed ~ the
bill ana ihe star OF htr' i lH i % p'e, We
similar act Intended ~ confer the same benefits whi
PASSED In 1880 aud amended H. 1858 anu $50, at-
tempted the thing; but IT, operation is p'ral and
far from satisfactory.
The objection mat the question ia affecting com
mprce brtWer the States and VIII foreign ndIon- lies
preferable that Congress should pass an act which Inay
apply thro giout the country than that We should b.
10 Ihe I'M ma NJ nc,ssa5i & eniIrd n" heir own
boundAue- \ number Oi cases decided IN the courts
VIII illustrate thc evils c"mpalhed ot
nIgroukac reported ~ the nrst volume Of OttOs United
STA re supreme Court reports, Is ~ ront There DOTs
I a Co. M Ncn-Yors. were cOusIgnocs OF a cargo or
O.yycgY who them the b- ~ ladng therefor ana
drew non them ON account of an advance on The wheat.
wheat Tor sale all In the regular and usual
Milwaukee, Bank. which claimed % nave made an
advance it there. and mad bills OF Iidlug
for 4 60 Oswego. where Il was trans .ipitd To-
NaU York: tin cuusi uces OsweEO were SWth " Co.,
selected Dy bank agents. and ntrusted vi j
thc wheat smith Go. ou<ai 10 hA'r -.ut tDt i'a.
~ another address aud not 70 have drawn Hpnn u :
bur, in violation - their dIit 20 tne bank -ml 60"
sent 1t TO DOVE Co aud dre" aSdiA-t IT, ana if fI
yaDCed upon ~ without auy h".ce Oi any ecG' ie' J."
fay Of ine bank II seems ~ 'si mat ,h' ii.u"
perpeIa;rd by smith Co. should ial upou those "L"
trusted tic VIII at la thylr hands. Who caused ~ De
dey rgd TO tu,m g,9rr,5 , IaynE M no ' - NIX % %
oiEci- She I| nas here ipufe stood. tl Court
nud effect to decree thdj Dow o. should s'au ,h-
lusr inst, o uic UdLA' which Lad trusted the "HtH
to SnIttu a GO.
tGI y. Y, 800. where d similar faud vas
p,rpcfratpd upon incorporated banSInE cou.-
manager e. e. ont 90 'u-iLr's ana WlHG 10 up as ihe
Thought ilrfc great lD,ecurIiy ia making dd-
T case o. lrntz It. steamer Idaho wa, one
cotton wA- rrBicved n ldTerpooi NJ taken away rom
f1 mi. a" e,rLau-r ,lruUn a-anst 10 without notice
Of am prior equities ana the Unued states supreme
Court ~ re compelled - uQh ia tul- pr'cedur-.
Ir b,l throw, proper safeguards around commercial
-rn.lcfIou- oil f.I, hUI. preserves al cquIur, W.tn
a,,c. aLd Iuuisle fraud. and Il oui opinion ought 10
hrcumr "a LIw.
TIL, bill referred to Is entitled a bill TO faci!i-
tate the negotiation OF bills of ladng and other
commercial Instruments. and to punish fraud there
H." and D., a. follows.
re It enacted etc., That whenever any party In tie ,
course of ANY ComI"rrH uau-hcu"n Uet"ttu tu.
uuI,eL -,acs and 4Il iult'EA A1'ioI' OF Oot"to Au5
c uifrG sat - snail deliver To aus -iecdl OF com
mon enrrirr by llnd wafer oI b-tA, or To any ware
loti.,uau OF NOR custodian, any personal property
Vuatrytr aud shall Ke therefor any DuI OF ladlu-,
slipping receipt warehouse receipt agfeeinent, c5T'
cate or h.' Voucher, which instrument ~ shall DC
stated tuat sacu property Is dclYerabIo 10 the
orter OF any party whatever nam O therein. the abno-
ni tine III iul aud the right Of Possession Of such
instrument. aud and Of al sucn personal property
Weuuou-d tber III, snail be Transferable by tue indorNe
m.ut OF tne party mentioned the eln and subsequent
ind,r,ers and the delivery Of such instrunenti aud
Yfttr uf uffl s.
rigbt OF po,,-s,Ou shall mmsdatrY vest IN tue trans
ferer subject OIlv any LIENS anu conditions Whch
IN A be mentioned m said instrument
Irortdea such instrument shall state mat
II i, u0 negotiable, then tns section shA AOt Apply 20
l. nor % the property mentioned tbertihi
A nd grDrifed fHrfaSr That II tie actual houce OF
otuer eaui.cs received b lie l1nsiercc DriO;e