Harris v. Commodity Credit Corp.

TRIMBLE, District Judge.

The only question involved in this case is whether or not a producer of cotton who obtains a loan on it from the Commodity Credit Corporation, secured by a pledge of the warehouse receipts is still the owner of the cotton so that he can sell and transfer to a third person, subject only to the lien of the Commodity Credit Corporation.

Between September 19, 1939, and March 12, 1940, the producers of the 344 bales of cotton involved in this case sold the cotton to the plaintiff, and executed bills of sale to him which contained orders on the Commodity Credit Corporation,…