118 BILLS OF LADING AND STORAGE RECEIPTS. [ART. 14

lading for goods, chattels or commodities of any kind, to be
transported on land or water, or on both, which shall be executed.
in this State, or being executed elsewhere, shall provide for the
delivery of goods, chattels or commodities of any kind within
this State, and all warehouse, elevator or storage receipts what-
soever for goods, chattels or commodities of any kind stored or
deposited, or in said receipts stated or acknowledged to be stored
or deposited for any purpose in any warehouse, 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 con-
trary 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 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 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.

1876, ch. 962, sec. 2.

2. Every instrument of those mentioned and described in
section 1, 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 the possession and cus-
tody of such person or corporation at the time of issuing the
said instrument according to the tenor thereof, and for the pur-