12

WAREHOUSES  IN  FOREIGN  COUNTRIES.

in  due  time  the  holder  of  the  warrant  may  have  the  goods  sold  ;  but
the  right  of  recourse  is  lost  if  they  are  not  sold  within  thirty  days
after  the  warrant  has  been  protested.
The  assignment  of  the  certificate  of  ownership  to  the  holder  of  the
warrant  is  in  effect  a  legal  transfer  of  the  goods.  If  the  certificate
of  ownership  is  assigned  without  the  warrant,  the  assignee’s  title
becomes  the  same  as  was  that  of  the  assignor,  and  the  rights  of  the
warrant  holder  are  in  no  wise  affected  by  the  transaction.
Whenever  the  owner  presents  the  entire  certificate  of  deposit  or
its  two  parts,  and  pays  all  storage  dues  and  expenses,  the  goods  must
be  delivered  to  him.  They  must  also  be  delivered  to  him,  even
though  the  warrant  is  not  in  his  hands,  if  he  deposits  with  the  warehouse ­
  a  sum  sufficient  to  cover  the  amount  of  the  loan  and  the  interest
up  to  the  time  the  loan  falls  due.  This  may  be  done  at  any  time
before  the  period  of  deposit  or  that  of  loan  has  expired.
If  the  warrant  is  paid  in  full,  it  must  be  surrendered;  but  if  it  is
paid  only  in  part,  then  the  amount  paid  is  simply  indorsed  on  the
warrant.  In  such  a  case  the  warrant  holder  has  recourse  and  may
protest  against  all  parties  liable  for  any  loss  or  damage  sustained
by  him.
The  warehouse  has  a  lien  on  all  goods  in  its  custody  for  storage
charges  and  expenses  incurred,  as  well  as  a  right  to  sell  such  goods
whenever  the  stipulated  term  of  deposit  has  expired,  or  after  one
year  if  they  are  deposited  for  an  indefinite  period,  or  at  any  time
when  the  goods  are  in  danger  of  perishing.
The  proceeds  of  such  sales  must  be  applied  to  the  payment  of
claims  in  the  following  order:  (1)  Custom  and  excise  duties;  (2)
expenses  of  sale;  (3)  warehouse  dues  and  expenses;  (4)  claim  of  the
warrant  holder.  Any  balance  left  must  be  paid  to  the  owner.
STORAGE  CHARGES.
For  the  purpose  of  fixing  storage  charges  the  warehouse  administration ­
  has  formed  six  classes  of  merchandise.  The  rates  per  quintal
(220.4G  pounds)  per  week  range  from  cents  for  class  1  through
one,  four-fifths,  three-fifths,  and  two-fifths  of  a  cent  for  classes  2,  3,
4,  and  5  to  one-tenth  of  a  cent  for  class  6.  The  classes  are  as  follows:
Class  1.—Arms;  books  and  prints;  clothes  and  hats;  cochineal;
ethereal  oils;  feathers  and  down;  hardware;  instruments,  scientific
and  musical;  ivory  and  tortoise  shell;  leeches;  medicinal  barks  and
lemon  peel;  medicines,  prepared;  opium;  peltry;  Peruvian  bark;
playing  cards:  rubber  goods;  silk  goods  ;  silkworm  (eggs  of)  ;  silver;
sponges;  watches;  whalebone;  works  of  art.
Class  2.—Alcohol  and  spirits;  amber;  basket  work,  material  for;
beverages,  in  boxes  and  baskets;  biscuits;  bristles,  brooms,  brushes,
and  similar  articles;  buckthorn  berries;  camel’s  hair;  cassia  ;  chemical
products;  cinnabar;  cotton  and  cotton  waste,  not  pressed;  drugs  and
spices;  glass;  hay  and  straw,  baled;  hemp,  flax,  and  oakum,  not  in
bales;  hides  and  skins,  crude,  salted,  and  not  packed;  hops;  horsehair; ­
  indigo;  intestines;  lampblack;  laurel  leaves;  leather;  licorice
juice;  liqueurs;  machinery  and  parts  thereof  ;  manna;  manufactures
of  linen,  wool,  and  cotton,  not  otherwise  provided  for;  meerschaum  ;
mirrors  ;  pastry;  porcelain  ware;  pottery;  quicksilver;  roots  for
medicines  and  perfumes;  saddlery;  saffron;  senna  leaves;  silk  co-