Cleveland Storage Co. v. Guardian Trust Co.

Appellant company was engaged in conducting a warehouse for the storage of lum ber. It issued receipts or warrants for tbe lumber stored with it. Such lumber was manufactured by Oulf Region Lumber Company, to which the receipts were issued payable to its order, and by it transferred to appellee as security for loans made. By this method appellee came into possession of receipts for a large quantity of lumber stored in the warehouse of appellant. After a fire which burned some of it, for which appellee received the insurance, it is alleged that it still holds receipts for 12,970,000 feet, but…