Page:Federal Reporter, 1st Series, Volume 1.djvu/715

 7. That the paper called general collateral contemplates future loans and indebtedness, and covers future collateral that may fall under it, where the loan was under such general collateral. Given.

8. That to transfer the title to property held by a warehouseman, and for which he has given a regular warehouse receipt, to a party as collateral security for a loan, by indorsement and delivery of the warehouse receipt, it is not necessary that the party receiving the receipt as such collateral shall give notice of the assignment of such receipt to him. Given.

9. That if said Bates and said Bogen were carrying on the pork business together under the name of said Bates, each to have one-half the profits thereof, and the said Bates left the entire management and control of the said business to said Bogen, he, said Bates, cannot plead ignorance of anything relating to the business, or the usual modes of conducting it, or in reference to warehouse receipts used in conducting said business, which was known to the said Bogen. Given.

The defendant asked for the following special charges:

1. The warehouse receipts of Bates, copied into the petition, were not negotiable, so that their indorsement and delivery by Grant to the bank vested a right of action therein in the bank against Bates for the lard or the value thereof.

Refused, as written; given as follows: “It did not vest a right of action as upon a negotiable note or bill of exchange, but it did vest in the bank a right to maintain an action for injury to, or conversion of, or for a recovery of, the property.”

2. The indorsement and delivery of said warehouse receipts by Grant to the bank created no privity of contract between them which prevented Bates from delivering said lard to Grant unless said Bates had notice of said transfer to the bank. Refused.

3. The only effect of said indorsement and delivery of the warehouse receipts by Grant to the bank was to transfer to said bank the title to said lard and the right to its possession, and to constitute said Bates the bailee of said bank, when notified of said transfer to the bank. Refused.