house, elevator or other place of storage or deposit in this State, shall be and they are hereby constituted and declared to be negotiable instruments and securities, unless it be provided in express terms to the contrary on the face thereof, in the same sense as bills of exchange and promissory notes, and full and complete title to the property in said instruments mentioned or described, and all rights and remedies incident to such title, or arising under or derivable from the said instrument, shall enure to and be vested in each and every bona fide holder thereof for value, altogether unaffected by any rights or equities whatsoever, of or between the original or any other or prior holder of or parties to the same, of which such bona fide holder for value shall not have had actual notice at the time he became such.

B. & O. R. R. Co. v. Wilkins, 44 Md. 26. Tiedeman v. Knox, 53 Md. 612. W. Md. R. R. Co. v. Franklin Bank, 60 Md. 38. Ruhl v. Corner, 63 Md. 182. Seal v. Zell, 63 Md. 356. Lazard v. M. & M. Trans. Co., 78 Md. 1. Farmers' Packing Co. v. Brown, 87 Md. 10. Wash. Co. Nat'l Bank v. Motter, 97 Md. 546.

1902, ch. 125, sec. 1A.

2. If any bill of lading or any receipt, voucher or acknowledgment whatsoever in writing in the nature or stead of a bill of lading for goods, chattels or commodities of any kind to be transported on land or water, or on both, shall contain the word "order" inserted before or after the name of the consignee, or if there shall be on such bill of lading, receipt, voucher or acknowledgment any printed or written matter indicating that the goods, chattels or commodities named therein are to be delivered only upon the order or endorsement of the consignee or other party named, such bill of lading or instrument shall be known as an "order" bill of lading. All "order" bills of lading shall be and they are hereby constituted and declared to be negotiable instruments and securities in the same sense as bills of exchange and promissory notes and full and complete title to the property in said instruments mentioned or described, and all rights and remedies incident to Art. 14, Sec. 1-Bills of lading quasi negotiable at common law. Bank of Bristol v. B. & O. R. R., 99 Md. 661.

such title or arising under or derivable from the said instruments shall enure to and be vested in each and every bona fide holder thereof for value, altogether unaffected by any rights or equities whatsoever, of or between the original or any other prior holders of or parties to the same, of which such bona fide holder for value shall not have had actual notice at the time to become such. No conditions, clauses or provisions inserted in or attached to any "order" bill of lading shall in any manner limit the negotiability thereof, and every such condition, clause or provision purporting to limit such negotiability shall be void.

*[he became]

1902, ch. 125, sec. 1B.

3. If any "order" bill of lading shall contain the words "Notify A B," or any other words directing notice to be given to any person of the arrival of the goods, chattels or commodities at a point of destination, such words shall not be construed to charge any holder of such instruments with notice of any rights or equities of such person so to be notified in the said goods, chattels or commodities.

Ibid. sec. 1c.

4. If any person or corporation, or any agent of any person or corporation having issued any "order" bill of lading shall deliver or permit to be delivered the goods, chattels or commodities mentioned in such bill of lading, without requiring the surrender of such bill of lading and without cancelling the same by writing or stamping on the face thereof in a conspicuous manner the word "cancelled," or in case of partial delivery, without endorsing on such bill of lading the quantity and descriptions of the goods, chattels or commodities so delivered, the said bill of lading shall be deemed to be and continue as an outstanding obligation of the said person or corporation, to the same extent as though the goods, chattels or commodities had not been delivered, and such person or corporation shall be and continue to be liable for the delivery of the said goods, chattels or commodities to any present or subsequent holder of such bill of lading who became or shall

have become such holder for value and without notice of the delivery of the goods, chattels or commodities.

Ibid. sec. 1D.

5. No person or corporation or agent or officer of any person or corporation conducting the business of transporting any goods, chattels or commodities of any kind, on land or water, or on both, shall decline or refuse to issue an "order" bill of lading for goods, chattels or commodities offered to it for transportation, if the shipper or consignor of such goods, chattels or commodities shall verbally or in writing request the issue of such "order" bill of lading. And any person or corporation or agent or officer of any person or corporation wilfully violating this section or any provision thereof shall be guilty of a misdemeanor, punishable by a fine of not more than five hundred dollars, in the case of a corporation, and in the case of an individual, by a fine of not more than one hundred dollars.

1888, art. 14, sec. 2. 1876, ch. 262, sec. 2.

6. Every instrument of those mentioned and described in the preceding sections, which shall be issued by any person or corporation, or by any agent or officer of any person or corporation authorized to issue the same on his or its behalf, or authorized or permitted by such person or corporation to issue like instruments on his or its behalf for goods, chattels or commodities actually received for transportation or held on storage, as the case may be, shall be conclusive evidence in the hands of any bona fide holder for value of such instrument, who shall have become such without actual notice to the contrary, that all of the goods, chattels and commodities in said instrument mentioned or described had been actually received by and were actually in possession and custody of such person or corporation at the time of issuing the said instrument according to the tenor thereof, and for the purposes and to the effects therein stipulated or provided, notwithstanding that the fact may be otherwise, and that such agent or officer may have had no authority to issue any such instrument on behalf of his said

principal, except for goods, chattels or commodities actually received and in possession at the time of such issue. Lazard v. M. & M. Trans. Co., 78 Md. 1.

Ibid. sec. 3. 1876, ch. 262, sec. 3.

7. Every acceptance of an order and every other voucher whatsoever, for any goods, chattels or commodities as on storage or deposit, whereby the custody or possession of such goods, chattels or commodities shall be acknowledged or certified by any warehouseman, wharfinger or other person or corporation within this State, and which acceptance or voucher shall not on its face provide or stipulate in terms that it shall not be negotiable, shall be held and taken when issued to be a negotiable receipt and instrument to all intents and effects within the meaning and operation of this Article.

Ibid. sec. 4. 1876, ch. 262, sec. 4.

8. Any instrument declared negotiable by this Article shall be held and taken to have been issued within the meaning of this Article when it shall have been signed and shall have been delivered out of the custody of the person or corporation to be charged or bound by the same, or of his or its agent or officer aforesaid.

1888, art. 14, sec. 5. 1876, ch. 262, sec. 5.

9. No person or corporation, or agent or officer of any person or corporation in this State, shall issue any bill of lading, receipt, acknowledgment or voucher whatsoever, for goods, chattels or commodities of any kind to be transported on land or water, or on both, or any receipt, acceptance of an order or other voucher for goods, chattels or commodities, as on storage or deposit in this State, until and unless the whole of the said goods, chattels and commodities shall have been actually received to be transported by such person or corporation in the one case, or shall be actually in the possession or custody, or upon the premises, or under the absolute and exclusive control of such person or corporation in the other case at the time when such instrument shall be issued; and any principal, person or corporation, or any agent or officer whatsoever, of any

person or corporation, wilfully violating this section, or any of the provisions thereof, shall be guilty of a misdemeanor, and on conviction thereof, shall be subject to a fine of not less than one thousand nor more than five thousand dollars, in the discretion of the court.

State v. Bryant, 63 Md. 66.

Ibid. sec. 6. 1876, ch. 262, sec. 6.

10. No warehouseman or corporation or person whatsoever having issued or caused to be issued or having outstanding, and issued by any agent or officer of such person or corporation as aforesaid, any receipt, acceptance of order or other voucher for goods, chattels or commodities as on deposit or storage with or in the custody or on the premises, or under the control of such person or corporation, shall issue any other receipt, acceptance of order or other voucher whatsoever for the same, or any part thereof until the said first issued instrument shall have been returned and cancelled or destroyed; and no person or corporation whatsoever having issued or having outstanding, as aforesaid, any such receipt, acceptance of order or other voucher aforesaid, and no agent or officer of any such person or corporation shall part with, deliver or remove or permit to be delivered or removed, the goods, chattels or commodities in such instrument named or described, or any part thereof, except only to or by the holder of said instrument, or upon his order, and upon the presentation of said instrument with his endorsement in every case, or without cancelling or destroying said instrument in case of complete delivery or removal or endorsing thereon the quantity and description of the goods, chattels or commodities delivered or removed, and the names of the persons to whom delivered, or by whom removed in case such delivery or removal shall be partial only; and any principal, person or corporation or agent or officer of any person or corporation wilfully violating this section or any of the provisions thereof shall be guilty of a misdemeanor, punishable by a fine of not less than one thousand, nor more than five thousand dollars in the case of a corporation, and in the case of an individual by a fine of not less than one hundred, nor more than five thousand dollars, and