Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1908-07-21
TO URGE REFORMS
IN BILL OF LAD|NC
BUSINESS ASSOCIATIONS TO APP.
PEAR BEFORE COMMISSION.
ERs ON UNIFORM LAWS.
PRESENT INSTRUMENT
UNSAFE FOR CREDIT
Protection Against Fraud Sought for
Volume of Trade Amounting to
$4,000 oo-uniform Law Wanted
from Congress.

New York, July 20.-When the COM
missioners on uniform laws meet at
Seattle, Wash, on August 20 they will
be waited upon by committees repre-
senting the great commercial bodies
of this and other cities and urged to
draft a bill of lading to put an end to
what the shippers term the gross
frauds which they declare have made
bills of lading an unsafe instrument
of credit. The decision to have COM
mittees appear before the commission
ers, 1t was announced Saturday, was
reached as result of the announce
ment of the interstate commerce COM
mission that it had not sufficient au-
thority to order the railroads to revise
their methods of issuing bills of lading
to meet the objections which the COM
mercial bodies have raised against the
instruments in their present form.
1t is the present plan to have the
new bill which is expected to be
drafted by the commissioners on uni
form laws introduced at the next SEES
5AOh Vi WINS COB. "A uCClSlOu VI lllS
interstate commerce commission an
nounced early this week contained
recommendations embodied in the de-
mands of the shippers, but the COM
mission decided that it lacked the
power to enforce these recommends
tons. 1t was in view of this, and the
belief that the railroads would not &C.
cept the recommendations of the COM
mission, that the plan announced Sat
urday was formulated.
Tremendous Volume Of Business.
The tremendous volume of business
transacted on bills of lading is appar-
emit from figures of the year 1907,
which show that goods valued at $17,-
900, 100000 were shipped on the bills
in that year alone. The commercial
interests have been trying for the past
three years to compel the carriers to
issue two separate bills of lading
forms, in order to differentiate be-
tween the ordinary receipt and the
more important order" bill, which is
used as a basis of credit i'll the trans
portatiOn of the country's crops, par
ttcularly the cotton and grain crops Of
the south and west, and manufactured
products. The shippers have de-
manded also that the railroads compel
the surrender of the instrument upon
delivery of the property to the con-
signee, several extensive swindles hav-
ing been perpetrated against lenders
by means of bills of lading that were
not 30 surrendered.
Expect Approval Of Congress.
AS the railroads have fought the
proposed changes from the first, rep
sentatives of the commercial bodies
Of this city say they do not expect the
recommendations of the interstate
commerce to change the situation at
all. They believe, however, that what
ever action is taken by the commits.
sions on uniform state laws will be ap-
proved by congress, as the commits
sion consist of representatives from
the several states, appointed by their
respective governors.
Fear Effect on Credits.
L. Mandelbaum of the bill of lading
Vi IH0 COJCON GxCndQRes
Theodore F. Whitmarsh, vice-president
of the Wholesale Grocery association,
and Charles F. Droeste of the bill of
lading committee of the Mercantile ex.
change, in interviews given out Satur-
day, all express the fear that il the
present alleged abuses are not cor.
rected by congress early in its next
session credits will be seriously cur.
tailed and in consequence all com.
mercial interests severely handi-
capped.
Lewis Pierson, chairman of the bill
OF lading committee of the American
Bankers association, said it was true
that certain banks had curtailed their
loans OH this class of collateral, but
that the movement had not yet become
general. I'VE all hope" he said, that
before 1t does congress will pass a uni
form bill Of lading act that will safe
guard the rights of all concerned"