Planters' Rice-Mill Co. v. Olmstead & Co.

Blandford, Justice.

This is one of a series of cases, the opinion in the others having just been delivered by the Chief Justice. In this case, one William T. Owen, the general superintendent of the Planters’ Rice-Mill Company, wishing to borrow money, applied to Olmstead & Co., representing to them that individually he wished to borrow money, and that he had certain rice on deposit in the mill of this company. Thereupon, Olmstead & Co. agreed with him to advance a certain sum of money, provided he issued a special receipt to them, by which the mill company acknowledged that it had in store a…