Repealing Clause.

5124. [Sec. 2.] All laws and parts of laws, and especially any part of Act No. 156, of the Legislature of 1888,-approved, July 12th, 1888,-in conflict with this act, are hereby repealed. Remedy When Pledgor Fails to Pay.

5125. [Sec. 6, Act 72, 1876, p. 115.] Should the pledger fail to pay his pledge note, secured by warehouse receipts representing the property therein described, on the day of its maturity, the pledgee shall, on the following day after the maturity of such pledge note, notify the pledgor of same, and inform him that he may appoint one expert to act jointly with another one to be appointed by the pledgee, which experts shall examine, appraise, and sell the goods or merchandise pledged, or such an amount of the same as they may determine to satisfy the claim of the pledgee, together with costs and the usual expenses. In case of doubt the two experts already selected will be authorized to appoint a third. In the event of the pledger refusing, or for any reason failing to appoint such expert within five days, allowing one additional day for every twenty miles that the residence of the pledgee may be distant from the residence of the pledger, then the pledgee shall be and he is hereby authorized and empowered to appoint two experts, and they to appoint a third, all of whom shall be familiar with the value and management of the character of the merchandise involved; said experts to examine, appraise, and sell to the best possible advantage all of the produce pledged, or such an amount as may be necessary to settle the pledge note in full, together with such costs and necessary expenses as may be or have been incurred. The experts thus appointed shall proceed at once tɔ take action and to complete their duties at the earliest practical day consistent with the usual and customary manner of selling the produce or merchandise in question, and said experts shail make their report immediately thereafter. They shall be authorized to sell at public auction, after five days' notice in a public journal published in the parish in which the pledgee resides, without legal process of any kind or description whatever; and the pledgee or holder of said warehouse receipt shall be in full and complete possession of the merchandise described in the receipt from and after the day on which the pledge note based on the merchandise may have matured; the surrender of the warehouse receipt to the custodian or custodians of the

property, and cancellation of same, shall relieve and exonerate them from all further responsibility in the premises.

Experts' Fees.

5126. [Sec. 7.] Said experts shall make a sworn statement of their proceedings and the disposition of the funds realized, and file said statement in the office of some duly qualified notary public, or in any court of record located in the parish in which the pledgee may reside. Said experts shall receive such fee as may be agreed upon, but they shall not be authorized to exact a fee in excess of the usual commissions charged, according to commercial usage, on the character of the property upon which they may have administered.

Goods Not to Be Delivered Without Written Assent.

5127. [R. S. 2480.] No cotton press owner or lessee, wharfinger or other person shall sell or incumber, ship, transfer or in any manner remove or permit to be shipped, transferred or removed, beyond his control any goods, wares, merchandise, grain, flour, or other produce or commodity, for which a receipt shall have been given by him as aforesaid, whether received for storing, shipping, grinding, manufacturing or other purpose, without the written assent of the person or persons holding such receipt.

Bills of Lading on Warehouse Receipts.

5128.

[Sec. 1, Act 16, 1915, p. 39.] No Master, Owner or Agent of any boat or vessel of any description, forwarder or officer or agent of any railroad, transfer or transportation company, or other carrier, shall sign or give any bill of lading, receipt or other voucher or document for any merchandise or property, by which it shall appear that such merchandise or property has been shipped on board of any boat, vessel, railroad car, or other vehicle, unless either the same shall have been actually shipped and put on board and shall be at the time actually on board or delivered to such boat, vessel, car or other vehicle, to be carried or conveyed as expressed in said bill of lading, receipt or voucher or document, or unless the same shall have been actu

ally deposited in a warehouse operated under the direction and supervision of any agency or Board of the State of Louisiana; provided that in the latter case a receipt issued in the form required by Act 221 of 1908 shall be issued by the Board or Agency under whose direction and supervision such warehouse is operated, and such receipt shall be delivered to the Master, Owner or Agent of the boat or vessel, or to the officer or agent of the railroad, transfer or transportation company, or other persons signing the bill of lading or other voucher before such bill of lading or voucher is itself issued or delivered.

Scope of Act.

5129. [Sec. 2.] The provisions and penalties of Sections 23 and 44 of Act 94 of 1912 shall not apply to bills of lading issued under the provisions of this act.

Penalty for Negotiating Cotton Press Receipt of Another.

5130. [R. S. 2488.] If any commission merchant, agent or other person, storing or shipping any goods, wares, merchandise, grain, flour, or other produce or commodity in his own name, being in the possession thereof for or on account of another party, and negotiating, pledging or hypothecating the cotton press receipt or bill of lading received therefor, shall not account or pay over to his principal or owner of the property the amount so received on such negotiation, pledge or hypothecation, he shall be adjudged guilty of fraud, and upon indictment and conviction thereof, shall be fined in a sum not exceeding five thousand dollars or punished by imprisonment in the penitentiary of the State for a term not exceeding five years, or both.

Sale for Unpaid Warehouse Charges.

Whenever any

5131. [Sec. 1, Act 167, 1898, p. 325.] goods, wares or merchandise shall have remained on storage in any warehouse in this State for a period of six months, and the charges thereon for storage and other expenses shall have remained due and payable for a period exceeding six months, it shall be lawful for the warehouseman, whether owner or lessee, and whether said warehouses be owned or leased by railroad companies, steamship companies, steamship agents, companies limited, owners or agents of steamboats, crafts or other vessels, firms or individuals to give notice in writing of ten days to the person who has stored said goods, or to the consignees, through the United States mail, to pay such charges and expenses, and

if the same are not paid within ten days after giving such notice, it shall be lawful for such warehouseman, railroad companies, steamship companies, steamship agents, companies limited, owners or agents, to sell said property for cash at public auction by a duly licensed auctioneer, after having duly advertised the terms and place of such sale for ten days in the manner required for judicial advertisements of the sale of movables, provided, that a separate advertisement of each article to be sold shall not be required, but one general advertisement shall be sufficient to authorize the sale of said property stored for account of whom it may concern.

Disbursement of Proceeds of Sale.

5132. [Sec. 2.] The aggregate proceeds of sales under such advertisement shall be applied in the first place to the payment of charges and expenses for storage and expenses for advertisement and sale, and the residue, if any, shall be retained by the warehouseman for the period of three months from the date of sale, and if during the said period the owners of any of the property sold shall present themselves, they shall be entitled to receive the proceeds of the sale of their property, less the deductions hereinbefore authorized to be made; and the balance, if any remaining unclaimed after the expiration of three months, as aforesaid, shall be paid into the treasury of the State of Louisiana to the credit of the general school fund of the State of Louisiana, to be disbursed in such manner as other money to the credit of the general school fund of Louisiana, and the said warehouseman shall be released from all liability on account of the property sold.

Contents of Proces Verbal Where Owner Cannot Be Found.

5133. [Sec. 3.] In case the owner or agent cannot be found, said goods, wares or merchandise shall be sold after due publication as above provided, and the proces verbal of sale shall contain the warehouseman's affidavit of his inability to find said owner or agent and the exercise of due diligence, provided a separate affidavit for each article shall not be required, but one general affidavit shall be sufficient for each sale.

Who Entitled to Benefit of Act; Act Not Applicable to Perishable Goods.

5134.

[Sec. 4.] No warehouseman shall have the right to take the benefit of this act, unless the first section of this act

shall have been printed or written on the receipt given for the property; and, provided, further, that the above proviso of this section shall not apply to goods, wares or merchandise perishable or otherwise in warehouses, or sheds, that may have been stored prior to the enactment of this act, and all warehousemen shall have the privilege to sell all goods, wares or mechandise stored previous to the enactment of this act without having complied with the first proviso of this section, and all receipts from goods previous to the enactment of this act, need not have on it the first section of this act, provided this shall not apply to common carriers.

How Perishable Goods May Be Sold.

5135. [Sec. 5.] All perishable goods of what nature soever shall be sold after three days' notice followed by three days' publication, except in very urgent cases, where twenty-four hours' notice, followed by one publication on the day of sale, may suffice.

NEW BASIN CANAL AND SHELL ROAD.

Board of Control.

5136. [Sec. 1, Act 144, 1888, p. 199.] There shall be appointed by the Governor, by and with the advice and consent of the Senate, a Board of Control for the New Basin Canal and Shell Road, to be composed of five members, three to be chosen from the Parish of Orleans and two to be chosen from any two of the Parishes of Ascension, Livingston, Tangipahoa and St. Tammany.

Upon the promulgation of this Act the Governor shall, by and with the consent of the Senate, appoint one member of said Board of Control for one year, one member for two years, one member for three years, one member for four years and one member for five years, and, at the expiration of their respective terms of office, the Governor shall appoint a successor for each for the term of five years, and for a similar term thereafter.

A majority shall constitute a quorum. They shall elect one of their number as chairman, who shall serve as such during their pleasure, and their secretary shall be the bookkeeper for the canal, who, shall, in addition to his other duties, keep full