The advocate., 1892-01-06

| me3ns uob OelnB previously advanced by tne
Imperial Bank; (b) to build or hire ware
houses for storing such grain for period
of six months, charging for storage a GER
tain percentage, which is fixed for each de-
pot By the ministry Of ways and communi-
cations, not exceeding one-third of copeck
per rood per month, and to engage special
agents for the purpose of selling grain on
behalf of the owner, charging commission
therefor not exceeding per cent. of the
total amount received.
1S. The railway companies must bear the
entire responsibilities for the advances made
on behalf of the Imperial bank.
IA. If the amount due the Imperial bank
isnot paid in seven days after the sale Of the
goods, or within seven days after the loan
expires, the railway company must pay, be-
sides the interest to the day of settlement,
fine of one-half of per cent. month for
the amount overdue.
15. The reserve fund mentioned above
may be used by permission of the ministries
OF ways and communications and of finan-
ces, as a gratuity to railway officials, and to
cover any loss sustained by the railway
company in the operation of the loan.
16. The railway company may make ad-
vances (a) on grain intended for transpor
tation and on grain stored in warehouses at
the starting point, charging for storage not
more than one-third of Copeck per pood
per month; (b) on grain received by the
railway company for transport, whether
stored or loaded upon the cars for transport
at once or not; (o) on grain arrived at the
place of destination and stored there in
warehouses until sold or consigned, the
charges remaining in all cases the same.
II. Advances cannot be made on grain
which is already hypothecated, or upon
which any unsettled charges whatever are
resting.
18 In fixing the highest percentage for
advances on grain the prices current at the
place of destination are taken as the basis
of such calculation; provided, however, that
such place Of destination is a market place.
In making such calculation the usual ex-
penses of transportation are reckoned as
portion Of the sum loaned. The highest ad
vances which may be made by any
depot and for any kind of grain are
fixed by the respective railway companies,
they in turn being responsible to the Impe-
rial bank.
IS. The charges mentioned in paragraph
4, viz one-third Of per cent. of the sum
advanced, are entirely put into the reserve
fund Of the respective railway companies
and placed to the credit of the Imperial
bank. This one. third of per cent. so ad- |
Vanced is to be divided: Two-thirds 20 to |
the railway company at the starting point
and one-third to the railway company at the |
place of destination for the management of
the loan.
20. When an advance is granted, an in
1orsement to that effect has to be made
both on the railway note and its duplicate,
mentioning the date on which the advance
8 made, the rate of interest, and other
'harges on the loan. Besides this, the re-
'eiver Of the loan gives a special receipt for
he money advanced either on grain which
8 intended for transport or which has been
eceived to be stored in warehouses. When
he loan is repaid, the receipt and other
,apers are returned to the borrower.
81: In case of advances made at the place
4 destination, the railway companies are
ntitled TO retain from the advance all their
harges except those charged for the opera
ion of the loan. An Endorsement to this
feet is made both on the railway note and
n its duplicate.
%. The officers Of the different compan- I
es are compelled to inform the other COM
anies, as we'll as the Imperial bank, of the |