Question 538. - The Quebec Statutes provide that where a warehouse receipt or bill of lading for grain, etc., is held as security, such grain, etc., shall not be held in pledge for any period exceeding six months. Does this provision affect banks?

Answer. - The rights of banks in this matter are governed by the Bank Act, which no longer limits the time during which grain, etc., may be held by the bank as security. The provisions in the Provincial Acts on this point do not affect banks.

Acquisition 01 Warehouse Receipts or Bills of Lading.

Queslion 539. - Which do you think is the preferable method of acquiring title to warehouse receipts or bills of lading; a transfer by endorsement of the party to whom the goods are deliverable, or a provision in the warehouse receipt or bill of lading making the goods deliverable to the order of the bank Answer. - We do not think there is any difference in the effect of the two modes of acquiring title.