40 Minn. 182 | Minn. | 1889
For some years prior to June 19, 1886, Meader &. Co. were operating a warehouse at Waconia, receiving and storing grain for the public, and also engaged in buying and storing grain in said warehouse on their own account. On that day they had on hand, collectively stored in the customary and well-known manner in such warehouses, nearly 7,000 bushels of their own wheat, and 650 bushels which had been deposited by other persons for storage. The same day they issued to the 'appellant (defendant) a storage ticket or receipt for 5,000 bushels of wheat as security for an indebtedness then incurred. Meader & Co. thereafter continued to do business by receiving and storing the wheat of others in mass with wheat purchased by themselves, and shipping it out, as occasion required, until their assignment, soon after March 12, 1887.
It is palpable that none of the wheat upon hand when appellant
Plaintiffs claim the right to recover the wheat, or its value, by virtue of the deposit tickets issued to them as they stored their grain; while the appellant asserts its right to participate in the wheat, or its proceeds if sold, as the owner and holder of the ticket or receipt issued June 19, 1886. The grade of the wheat is not in controversy. That part of the warehouse law of 1876, — found in Gen. St. 1878, c. 124,— bearing upon this ease has been construed in Nat. Exchange Bank v. Wilder, 34 Minn. 149, (24 N. W. Rep. 699.) In that.case, which controls this, it was held, modifying what had been stated (unnecessarily for its determination) in Fishback v. Van Dusen, 33 Minn. 111, (22 N. W. Rep. 244,) that the statute embraced and included as depositors all who owned or held grain actually in store, whether deposited by themselves or by others to whose rights they have succeeded, and that no distinction can be made between the person who makes an actual physical delivery of his grain at the warehouse and the pledgee of the grain of a warehouseman — actually on deposit in his warehouse — who leaves it in store with the proprietor as his bailee, taking a warehouse receipt therefor, and that in either event the parties have grain on deposit with the warehouseman.
In the case at bar there was at the time of.the pledge much more grain actually in store, the property of Meader & Co., than was needed to meet and redeem the storage receipt issued to appellant. Had it then been presented the required amount would have been delivered. Had appellant then returned the wheat to the custody of
Order reversed, and case remanded for proceedings in consonance with the views herein expressed.
Vanderburgh, J., took no part in this case.