Rayville State Bank v. Peoples Compress & Warehouse Co.

REYNOLDS, J:

*192OPINION

Act 221 of 1908 was intended to stabilize warehouse receipts and give them the value of negotiable instruments.

Plaintiff sues on eight public warehouse receipts and is entitled to recover unless the defendant can establish some special defense; and the defense tendered, by Buelow & Company, is that this suit is the result of a combination between plaintiff and Downes to enable Downes to defraud Buelow & Company. It follows, therefore, that' the question on which this ease turns is whether or not the plaintiff is the bona fide holder of the eight warehouse receipts sued on.

Th…