Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1909-08-13

and 4425 of the statutes are amended TO
read: Sectior 16TJ--1. An instrument to
be negotiable must conform to the following
requirements:
l. 1t must be in writing and signed by
the maker drawer.
=. Must contain an unconditional prom
ise or order TO pay 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;
). Whore the instrument is addressed
to a draWee, he must be named 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, or 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 1916 of the
Wisconsin statutes of 1878. and in sections
4194 and 4425 of these statutes, as the
same have been construed by the supreme
court.
Section 4194. Bills of lading,
or railroad receipts given for any goods,
wares, merchandise, lumber, timber, grain,
-four, or other produce or commodity stored,
shipped, deposited with any
whaFt1nger vessel boat, or railroad company
or other person, on the face of which shall
not be plainly written the words mot ne
gOti2ble" may be transferred by delivery
with or 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 specIIied 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-
original receipt or bill OF Laying or the
dOrsement of such delivery thereon in case
Of partial delivery.
Section 4424. Any wharfn-
ger master of q 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
other document to any person purporting to
be the owner thereof, or as security for any
loan or Indebtedness for any goods wares,
merchandise, lumber, timber, grain/ -four,
unless at the time OF issuing the same such
property shall have been actually received
or shipped according to the terms and
meaning of such receipt bill of lading,
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-
ceved, 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 any part thereof except
to the person holding such receipt, bill of
l&dlng 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 bill Of lading, for
any such property, while any former re-
ceipt or bill of lading 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
nan one year, or by imprisonment in the
county jail not more than one year or by
fine not exceeding one thousand dollars.
Section 1925. Any such receipt, bill OF
mentioned in the preceding section shall
be transferable by delivery thereof without
endorsement or assignment, and any person
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
or o T or oer
document shall have the words mot ne
gotable" plainly written or stamped on the
face thereof
Section 3. There are added to the stat
utes sixty-six new sections to read: Sec
tion 1684m--1. Warehouse receipts may be
Section 16s4m-2. l. Warehouse re-
ceipts need not be in any particular form,
but every such receipt must enbody within
its written or printed terms:
% The location of the warehouse where
the goods are stored.
% The date of issue Of the receipt.
30 The consecutive number OF the re-
cept.
(4) a statement whether the goods re-
ceived will be delivered to the bearer, to 81
specified person. or to specified person or
his order
80 The rate of storage charges.
-. 90 A description of the goods or Of
the packages el containing them
90 The signature of the warehouseuan,
which may be made by his authorised
80 If the receipt is issued for goods Of
which the Warehouseman is owner, either
solely or Jointly or In common with others,
the fact of such ownership, and
(91 Il statement of the amount of adj
Varlces made and Of liabilities incurred for
which the warehOuseman claims lien. If
the precise amount of such advances made
or OF such liabilities incurred ig at the
time of the issue of the receipt unknown
to the warehouseman or to his agent who
issues II, statement of the fact that ad-
yanceS have been made or liabilities in
Cured and the purpose thereof is sufficient
z A 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 16S4m--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-
CURED 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
the inspection Of the owner or holder Of
any such receipt. or OF any per-
son who shall present the same at
the office of the warehouseman. The ware
IouSemaD shall be responsible to any person
relying on such entries in good faith for
any loss or damage which he may sustain
through any failure to make the entries
herein required.
Section 16s4n-4. A warehouseman may
insert in a receipt issued by him, any other
terms and conditions. provided that such
terms and conditions shall not
90 Be contrary to the provisions of this
act.
t2l In any wise impair his obligation to
exercise that degree of care in the safe
keeping of the goods entrusted to him
which 4 reasonably careful man would ex-
ercise in regard TO similar goods OF his
own.
Section 1634m-5. A receipt in which
it Is stated that the goods received will be
delivered to the depositor, or to any other