Publisher's Synopsis
Excerpt from The American Elevator and Grain Trade, Vol. 10: July 15, 1891
Section 1. That all elevators or warehouses located in this state in which grain is stored in bulk, and in which the grain of different owners is mixed together, or in which grain is stored in such a manner that the identity of different lots or parcels cannot be accurately pre served, and doing business for a compensation, and hav ing capacities of not less than bushels each, are hereby declared public warehouses.
Sec 2. That the proprietor, lessee or manager Of any public warehouse shall be required, before transacting any business, to procure from the regular chartered and acting Board of Trade in the nearest city of the first or second class, as the case may be, a license permitting such proprietor, lessee or manager to transact business as a public warehouseman under the laws of this state, which license shall be issued by said Board of Trade upon writ ten application therefor; and said application shall set forth the name of such warehouse, and the individual name of each person interested as owner or principal in the management of the same; or if the warehouse be owned or managed by a' corporation, the names of the president and secretary shall be stated, and said license shall give authority to carry on and conduct the business of a public warehouse in accordance with the laws of the state, and shall be revocable by the Board of Trade issu ing the same upon a summary proceeding before said Board upon complaint of any person in writing setting forth the particular Violation of law, satisfactory proof, to be taken in such manner as said Board may direct, having first been made of such Violation.
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