International Banking Corp. v. United States

THOMAS, District Judge.

This is an action brought by the banker holder of -bills of lading issued by the carrier (the respondent), which libelant claims it accepted as security for a 90-day sight draft, drawn and accepted by the shipper. The cargo involved was delivered in Japan to the shipper, by the carrier, without the surrender of the order bills of lading.

Libelant claims it advanced credit on these ' shipments on May 5, 1924, about a week after the cargo had been delivered to the company, and it is admitted that the respondent impleaded, Admiral Oriental Line, delivered the cargoes…