Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1909-07-15

l.. 1t must be in writing and signed by
the maker or drawer.
2. Must, contain an unconditional prom
Use or order to pay a sum certain in money
3. Must be payable on demand or at a
fixed or determinable future time.
4. Must be payable to order or TO bearer
). Where the instrument is addressed
to drawee, he must be named or other
wise indicated therein with reasonable GER
tainty.
But no order drawn upon or accepted by
the treasurer of any county. town, city,
village, or school district whether drawn by
any officer thereof or any other person. and
no obligation nor instrument made by any
such corporation, any officer thereof, I'M
less expressly authorized by law to be made
negotiable, shall be, shall be deemed to
be. negotiable according to the custom of
merchants. in whatever form they may be
drawn or made.
Warehouse receipts bills of lading. and
railroad receipts upon the face of which the
words mot negotiable" shall not be plainly
written, printed, or stamped, shall be ne
gotiable as provided in section 1876 OF the
Wisconsin statutes of 1878. and in sections
1884 and 4425 of these statutes, as the
same have been construed by the supreme
court.
or railroad receipts given for any goods,
wares, merchandise, lumber. timber, grain,
-four, or other produce or commodity stored,
shipped, deposited with any
wharfinger vessel boat or railroad company
or other person, on the face of which shall
not be plainly written the words mot ne
gotiable" may be transferred by delivery
with without endorsement thereof; and
any person to whom the same may be so
transferred shall be deemed and taken to
be the owner of the goods wares, and mer-
chandiSe therein speclned SO far as to give
validity to any pledge, lien, or transfer
made or created by such person or persons !;
but no such property shall be delivered ex-
cept on surrender and cancellation OF said
original receipt or bill of ladng or the en-
dorsement of such delivery thereon in case
of partial delivery.
Section 4424. Any wharfn-
ger. master of a vessel or boat, or any
officer agent, or clerk of any railroad, ex-
press, or transportation company who shall
issue any receipt. bill of lading, voucher, or
be the owner thereof or as security for any
loan or Indebtedness for any goods, wares,
merchandise lumber. timber, grain, flour,
or other property, produce, or commodity,
property shall have been actually received
or shipped according to the terms and
meaning Of such receipt. bill OF ladlng,
voucher, or other document so issued, or
who shall sell or incumber, ship, transfer,
or in any manner remove beyond his i'm
mediate control any such property so re-
ceiypd contrary to the terms and meaning
of such receipt, bill of lading. voucher or
other document, without the consent of the
holder thereof. or who shall deliver any
such property or any part thereof except
TO the person holding such receipt, bill of
ladlng voucher, or other document, and
upon the surrender and cancellation there
Of, or in case OF any partial delivery OF
such property. upon the Endorsement there
on of such partial delivery, unless required
by legal process or shall issue any second
or duplicate receipt or bill Of ladng, for
any such property. while any former re-
eeipt or bill of Iading for any such prop
erty or any part thereof shall be outstand-
ing and uncancelled, without writing across
the face thereof the word duplicate" shall
be punished by imprisonment in the state
prison not more than three years nor less
}an one year, or by Imprisonment in the
county jail not more than one year or by
fine not exceeding one thousand dollars:
Section 4425. Any such receipt. bill Of
lading voucher. or other document as is
mentioned in the preceding section shall
endorsement or assignment, and any person
to whom the same is so transferred shall
be deemed and taken to be the owner of
the property therein specified so far as to
give validity to any pledge, lien, or transfer
made or created by such person unless such
receipt, bill of lading. voucher, or other
document shall have the words mot
gotiable" plainly written or stamped on the
face thereof.
Section 3. There are added to the stat
utes sixty-six new. sections to read: Sec
ton 1G84m-1. Warehouse receipts may be
issued by any warehouseman.
Section 16S4m-2. l. Warehouse re-
ceipts need not be in any particular form,
but every such receipt must embody within
its written or printed terms:
% The location of the warehouse where
the goods are stored
(2) The date of issue of the receipt
l3) The consecutive number of the re-
ceipt
a. A statement whether the goods re-
ceived will be delivered to the bearer, to
specified person. or to a specified person or
his order.
20 The rate of storage charges
tO) A description of the goods or Of
the packages containing them.
90 The signature of the warehouseman,
which be made nv his authn znd
agent.
80 If the receipt is issued for goods of
which the WarehOuSeman is owner, either
solely or Jointly or in common with others,
the TACT OF such ownership, and
CD statement of the amount of adj
Vances made and of liabilities incurred for
Whlch the Warehouseman claims a lien If
the precise amount of such advances made
or OF such liabilities incurred is at the
time Of the issue Of the receipt unknown
to the warehouseman or to his agent who
issues ii, a statement of the fact that ad-
vanccS have been made or liabilities in
CURED and the purpose thereof is sufficient
Z warehouseman shall be liable to any
person injured thereby, for all damage
caused by the omission from a negotiable
receipt of any of the terms herein required
Section 16o4m-3. Every warehouseman
shall keep in the office in which the bust
ness of the warehouse is transacted a reg
lister in which shall be entered all the facts
with reference to each receipt issued, as re-
quired by section 16S4m-2 When the
warehouseman shall cease to be responsible
for the delivery of the property described
IN the receipt, the fact and date of the
delivery OF the property and such other
facts as may terminate liability on such
receipt. shall be entered on such register in
connection with the original entry of such
receipt Such register shall be open to
any such receipt or of any per-
son who shall present the same at
the office of the warehouseman. The ware
louSeman shall be responsible TO any person
n 1Ch an pip m fat fAu
any loss or damage which he may sustain
through any failure to make the entries
herein required.
Section 16S4m-4. A warehouseman NAV
insert in receipt. issued by him, any other
terms and conditions. provided that such
terms and conditions shall not
! ID Be contrary to the provisions of this
(2) In any wise impair his obligation to
exercise that degree of care in the safe
! keeping OF the goods entrusted to him
! which reasonably careful man would eX-
! ercise in regard to similar goods Of his
! own.
Section 16S4m-5 receipt in which
! it is stated that the goods received will be
| delivered to the depositor, or to any other
| specified person, is a negotiable receipt
! Section 16S4m-6. receipt in which
! it is stated that the goods received will be
| delivered to the bearer. or to the order of
| any person named in such receipt is ne
gotiable receipt. No provision shall be in
! serted in negotiable receipt that it is non
negotiable. Such provision, if inserted, shall
| be void.
Section 16S4ru--7 When more than one
! negotiable receipt is issued for the same
goods the word duplicate" shall be plainly
placed upon the face of every such receipt,
except the one first issued. A warehouse
! man shall be liable for all damage caused
! by his failure so to do to any one who
! purchased the subsequent receipt for value
supposing it TO be an original, even though
! the purchase be after the delivery of the
| goods by the warehouseman to the holder
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