Warehouses in foreign countries for storage of merchandise in transit or in bond

Bibliographic data

Monograph

Identifikator:: 863514456

URN:: urn:nbn:de:zbw-retromon-45340

Document type:: Monograph

Title:: Warehouses in foreign countries for storage of merchandise in transit or in bond

Place of publication:: Washington

Publisher:: Government Printing Office

Year of publication:: 1905

Scope:: 1 Online-Ressource (206 Seiten)

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: North America

Collection:: Economics Books

. 140 WAREHOUSES IN FOREIGN COUNTRIES. the near future. The company is waiting for the completion of the Government work and the railroad terminals, to select a site for the construction of a large bonded warehouse at Veracruz. The ware houses in this city are fully connected with the railroads centering here. MEXICAN WAREHOUSE LAW. Following is a translation of the law under which bonded ware houses may operate in Mexico : Article 1. The name “ almacenes generales de depósito " (general storage warehouses) shall apply to those establishments which have for their principal object the storage, conservation, and custody of merchandise and effects, national or foreign, and which are authorized to issue documents of credit, transferable by indorsement, and destined to cover deposits of merchandise or loans guaranteed by the same. Art. 2. General storage warehouses shall be considered as institutions of credit, and the law of March 19, 1897, shall apply to them in regard to their creation, privileges, and to the common safeguards which apply to all institu tions of credit, save those provided in this decree. Art. 3. General storage warehouses shall be divided into two classes: (1) Those which receive national merchandise or merchandise on which the cus toms duties have been paid, and (2) those which are authorized to receive such merchandise and also to receive foreign merchandise on which the customs dues have not been paid. Art. 4. Warehouses destined exclusively for the storage of merchandise on which no customs duties are due may be established in all parts of the country. Warehouses intended for the storage of merchandise on which the customs dues have not been paid may only be established in the City of Mexico or seaports or frontier ports where custom-houses exist. The Executive has absolute power to select or approve the places where warehouses may be established, and to extend the corresponding concessions. Art. 5. The capital for the establishment of general warehouses for the stor age of national merchandise or merchandise on which the customs dues have been paid shall not be less than $500,000 Mexican currencey. When the ware houses are authorized to receive in storage foreign merchandise on which the customs dues have not been paid the capital shall be fixed by the secretary of the treasury in the respective concessions, taking for a base a minimum of $500,000, and taking into account the amount of importation through the custom-houses in the places where the warehouses are to be located or the amount of merchandise whose final destination is in those places, and the prob able amount of the responsibility which the warehouses will assume for unpaid customs duties on the merchandise which they will receive in storage. Art. 6. The duration of the concession for the establishment of general ware houses shall in no case exceed forty years from the date of the general bank ing law (March 19, 1897). Art. 7. The emission of certificates of deposit and hypothecary bonds, as all other operations of general warehouses, shall be subject to the provisions of the commercial code and to the general laws now in force or which may be enacted. Art. 8. The warehouses shall be responsible to the treasury for the payment of all duties on merchandise which they receive, if not paid by the owners or consignees, and for all fines in connection therewith. They shall also be directly responsible to the depositors of merchandise for the deterioration or the value of the effects deposited in storage, according to law. For the pur pose of this article warehouses will not receive merchandise on which the customs duties have not already been assessed by the respective custom-houses. Art. 9. The storage of foreign merchandise on which the customs duties have not been paid shall not exceed one year, unless before the expiration of that time said duties have been paid or it is proved that the merchandise is intended for reexportation. Art. 10. General warehouses may have suitable places for the display of samples of merchandise, and such samples, if subject to the payment of customs duties, may remain there without payment of duties for a period of two years. Art. 11. General warehouses shall be obliged to insure merchandise which they receive against fire.

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