ed to furnish. If the
duty is paid then the value upon which a loan is estimated is based
upon the market value of the goods in this country. After the draft
has been satisfied the goods are placed in the stores of the warehouse
company subject to the customs and storage charges. The amount
advanced by the company bears interest at current money rates. In
illustration let us suppose bonded goods to be shipped and invoiced at
$10,000, customs duty $4000, and the goods consigned to a bonded
warehouse. The draft ($10,000) is sent to the warehousing company,
which advances $8000, and together with the $2000 received from the
importer pays the draft. The $8000 loan made by the company is then
charged to the importer at the usual interest rate, and when the
borrower withdraws his merchandise from storage he will have to pay
the government the $4000 customs duty and pay back his loan of $8000
to the warehouse company, together with interest and storage charges.
If any portion of the goods stored is withdrawn for use in the
business of the importer, the company will rebate a proportionate
amount of the interest. If goods decline in value as collateral in
storage the company will demand additional margin for its protection.
If goods appreciate in value the loan may be increased. The market
value of the goods is ascertained by the appraisement of some expert,
who receives a commission for his services.

COLD STORAGE

The cold-storage warehouse is the natural result of the necessities of
our great agricultural interests in the preservation of perishable
products so sensitive to the deteriorating effects of temperature. The
solution of the problem of the preservation of dairy products, meats,
fish, poultry, fruits, and vegetables has developed a system that has
eliminated the seasons and made possible the equalisation of prices of
the finer class of edibles. The cornering of products and the creation
of unreasonable prices are avoided. No article becomes a glut on the
market as formerly. When there is a surplus of eggs and fruit, prices
may be maintained by putting them in cold storage for a few days and
offering them on the market when the conditions of trade warrant.

TEMPERATURE REQUIREMENTS FOR COLD STORAGE

Prior to the year 1890 cold storage was dependent upon the employment
of ice, but in the evolution of the cold-storage warehouse ice is no
longer a requisite. In fact, the temperature obtained by the
employment of ice