Fulton County tribune. (Wauseon, Ohio) 1883-1925, 1916-10-13
UNITED STATES
WAREHOUSE ACT
Synopsis of Measure Passed
by Congress as Prepared
by United States De-
partment of Agrir
culture.

<N~<~~~~~~~~~e%~~<~
The central purpose of the United
States warehouse act, which became a
law on August II, 1916, is to establish
a form Of warehouse receipt for cot
ton, grain, wool, tobacco and flaXseed,
which will make these receipts easily
and widely negotiable as delivery Or
ders or as collateral for loans and,
therefore, of definite assistance in f.
nancing crops. This purpose the act
aims to attain by licensing and bond
ing warehouses under conditions which
will insure the integrity of their re-
ceipts and make these receipts reliable
evidence of the condition, quality,
quantity, and ownership of the prod
ucts named which may be stored with
them.
THE secretary of agriculture is given
general authority TO investigate the
storage, warehousing, classification,
weighing, and certifying of cotton,
wool, grains, tobacco and fIaxseed, and
to classify warehouses for which
licenses are applied for or issued.
PermssiVe Statute
He may issue to Warehousemen IL
cef1ses for the condact of warehouses
in which such products may be stored
for Interstate or foreign commerce,
and also of warehouses located in
places under tie exclusive Jurisdiction
of the United States in which such
products may be stored Persons who
are not WarehO1semen may also be
licensed, subject to the same require
fsents as licensed warehOusemen, to-
asccept SUCH products for storage in
warehouses owned, operated or leased
by any static Licenses may be issued
for periods not exceeding one year,,
and are renewable up0n showing sset--
iSfactory to the secretary of agricu5+
turG. A fee n3t exeeeaRfng So, may be-
charged for each licelrse or rex1ewal, ;.
and, in addition reasonable fBe for
eachi examination or Inspections Of a
warehouse made upon application of
the 'warehouseman. 1t is saot, however,
compulsory that any 'warenouseman be
licensed by the secretary of agrfeul-
| tufe. The system is whtsIy perrdS-
sfve.
Every applicant for a., license as a
warehouseman must agree" to" comply
! with the act and the rules and regrsa
1atfons prescribed under it. He must
! give a bond, with other than personal
| surety, to secure the performance of
} his obligations as a warehbusernanr un-
der the laws of the place 'in'whfch' the
warehouse is conducted, under his con-
l tracts with his depositors, and under
the United States warehouse act, The
/ Fright is given to any person injured
Through its breach to sue innhis own
name on the bond for any damages
sustained by him. When suchl' bond
has been given. the warehouse may be
designated as bonded under the United
Ssates warehouse act.
Inspection of Warehouses;.
The secretary of agriculture 'iss au
tAoriEed to inspect warehouse licenses
ceg for which licenses are applied for;
t@ determine whether they are suitable
fSF the proper storage of agricultural
products to prescribe the duties of II
Gense9 warehousemens with respect II
their care of, and responsibility, for
agricultural products and to examim
agricultural products stored;i Inn II
eenseR warehouses. Deposits of az
ricuftuTsrB products in such warehouse
are nFatfe subject to the act and,i thi
= Duies and regulations under it,
= Duties of Warehousemenr
. licensed warehousemen are not per
nitteG to- discriminate between per
sons desiring to store agricultural
3 pro&rcts in their warehouses;. Alllae
J, ricultural products, except ftlngffA
products fsuch as grain and the lflle)
l. of the same kind and grade, for wffc
} separate receipts are issued, must
= so kept that they may be separated
). Identified and redelivered toe the dt
}. posftor. Warehousemen may mi
| grain and other fungible productss Of
J, Sfnarffy mixed in storage, wheR' the
= are of the same kind and grade an
Z. are delivered from the same smassS bv
|, may not mix such products wl1eag the
:. are of different grades.
, F0TCFCuSS F0SCGIppSs
Original receipts must be issued! ft
licensed warehouses. but only whe
such products are actually stored {
the. time of the issuance Off the Il
cefpts.. Additional or further receipt
for the same products may only be i
sued in place of lost or destroyed r
eefpts, and then only under specific
conditions.
The act enumerateSS certain fac
. which must be stated i'm all reeeip
= ISSUED by licensed warehouseme
\ They must show Gag the location
n the warehouse, (b) the date, of iss
- ance. (c) the consecutive number, {,
!. whether the products will be deliver,
"a to the bearer, to a specified person.
= to specified persons or his order, {
:, the rate of storage charges, (f)
" description of the product stored,
Guiding the QuanIity Of weight {
~ the grade orr other class; according
~ the official standards of the Unit
- States for SUCH products, unless the
10 be no such standhrd. I'm which event
- must be stated according to sol
~ recognized standard or according
~ rules andf regulations prescribed
" ~ the secretary of agriculture, (h) tn
:" they are issued subject to the Unit
- States, warehouse act and the ru
=, and regulations under 1t. G) own
" ship. IL any, of the products by
waneAenssman, I'D any lien claim
- b@ the warehouseman for advar
w naadfe or liabilities incurred, (k) q
other. facts required by the secrets
- Of agriculture, ID the signature of {
a warehOuseman, which may be made
- his authorized agent. Unless 9th
wise required by the law of the ST