Trademen's National Bank v. Thomas Kent Manufacturing Co.

Citations

• 186 Pa. 556
• 40 A. 1018
• 1898 Pa. LEXIS 1042

Syllabus

<p>Warehousemen — Receipts—Bailment—Act of September 24, 1866.</p> <p>The Act of September 24,1866, P. L. (1867) 1363, which makes a warehouse receipt negotiable to the extent that the person taking a transfer of it by indorsement and delivery is to be deemed the owner of the goods therein specified, applies only to a receipt issued by a bona fide warehouseman. It is not a question of good faith, or even of diligence, on the part of the person taking the receipt, but of the possession of a good title by means of a valid and genuine receipt.</p> <p>In a contest between the holder of an alleged warehouse receipt for wool, and another party who had actual possession of the wool on which he had made advances in the regular course of business, it appeared that the person who had issued the receipt as a warehouseman was a clerk of the corporation which owned the wool; that he had rented a building in bis own name which he called a warehouse; that the rent was paid by the corporation; that the only depositor in the warehouse was the corporation ; that no charges were paid by the corporation to the clerk on account of warehouse, nor any credit given him on their books; that rents collected from subtenants of the building were paid over by the clerk to the corporation ; that the clerk had no sign on the warehouse to indicate his proprietorship, kept no books of the business, except a book of blank receipts, had no office or even a desk in the warehouse, did not keep the key in his possession, was rarely there, and left the whole charge of the business,, including the depositing and removal of goods, to the employees of the corporation. Held, that the warehouse receipt issued by the clerk for the wool conveyed no title as against the party having actual possession of the wool for advances made.</p>