In re Williams

COSGRAVE, District Judge.

The vital question on this petition for review is whether or not noncompliance with the provisions of Section 3440 of the Civil Code of California prevents the acquiring of a valid lien on the goods of a merchant in favor of the holder of warehouse receipts thereon as against the trustee in bankruptcy of the insolvent merchant. After a careful consideration of the evidence and the authorities cited, I find myself compelled to disagree with the conclusions of the referee. The Warehouse Receipts Act, Statutes of 1909, page 437, repeals all acts or parts of acts…