Page:Federal Reporter, 1st Series, Volume 1.djvu/717

 fer of such receipts to the bank was not binding on said Bates. Refused.

11. If you find that at the time the four notes were given making up the $21,146 claim set up in the petition—of $7,000, dated August 14, 1877; of $9,000, dated August 16, 1877; of $1,500, dated September 4, 1877; and of $1,500, dated September 6, 1877: $19,500—that all of the lard covered by the warehouse receipts copied into the petition had been surrendered to Grant, so that by that time there wag none of said lard in Bates’ possession, then said pledge in said notes of “general collaterals” did not transfer said lard to said bank. Refused.

12. If the bank claims the collaterals under the four notes dated in August and September, 1877, about eight months after they were issued, it was the duty of the bank to have first inquired to ascertain if Bates was in Cincinnati, accessible to them. The lapse of time was such as to put the bank on inquiry about the lard before they could hold Bates responsible. Refused, as written; given as follows: “If these loans were made at the date of the last notes; if they were the original loans of that date, and Grant had then presented the bank with these collaterals, which had been given some eight months before that date, it was the duty of the bank to make inquiry in regard to them before taking them as collataral security. If, however, they were renewals of original notes, and the receipts had been pledged as collaterals to the original notes, the renewals would carry the pledges with them to the last note of such renewals.”

Lincoln, Stephens & Slatterly, for plaintiff.

I. A. Jordan and Jordan, Jordan & Williams, for defendants.

, J., (charging jury.) Upon a demurrer to the evidence we have already determined that this action is in the nature of an action of trover, to recover for a wrongful conversion of the property described in the warehouse receipts. It is therefore unnecessary to determine the negotiable properties of warehouse receipts. We may remark, however, that in the commercial sense of the term they are not negotiable