to sink a very large amount of capital, for such goods at times remain on hand for years. A system has therefore been arranged by which an importer of dutiable goods can, by signing a bond that he will pay the duty when the goods are cleared for consumption, land and warehouse the goods in a Government warehouse, or one of the bonded warehouses or vaults, without paying the duty until the goods are required for use, when the goods are said to be In Bond. The place where they are stored is known as a Bonded Warehouse or a Bonded Vault, and they are handled or sent from place to place by bonded carmen, who are licensed by the Customs, as all goods liable to duty are only removed under the superintendence of the Customs officials, who either go with the goods, or send them in locked vans under Crown locks and keys.

DELIVERY ORDER.

A delivery order is an authority to obtain goods lodged at a wharf or warehouse by the importer or owner, and it must bear a 1d. stamp. Merchants usually have their delivery orders printed in books (each order being numbered and bearing their name) so that the counterfoil may be filled in to show for what goods each order has been used, each order, of course, being torn from the counterfoil and issued after it has been filled in with the particulars required. Delivery orders are negotiable and are transferable by endorsement. The following is the usual form of book used when a delivery order is issued against goods which have been put on warrants, and the warrants have been lodged, so that delivery orders may be issued against them :

HOW TO ENDORSE A DELIVERY ORDER.

A delivery order made out to Alfred Bird & Co. or "Bearer" does not require endorsement, and such an order is generally used by firms who have their own carts and carmen.

A delivery order made out to Alfred Bird & Co. or "Order" will require this firm's endorsement, as follows, before the goods can be obtained, or the order given by them to another party, and the endorsement here shown is known as a blank endorsement.

Example of a Blank Endorsement on a Delivery Order,

ALFRED BIRD & CO.

The goods will now be deliverable to bearer, and the delivery order could be passed on from hand to hand without further endorsement.

66

If Alfred Bird & Co. (to whom or Order we will assume the delivery order is made out) wished a carrier or carman to collect and deliver the goods for them

-say, Carter, Paterson & Co.-they would endorse the order

:

and give the carmen separate instructions where to deliver the goods.

If Alfred Bird & Co. did not actually want the goods at the moment (or only wanted a part of them), they would endorse the order :

Please hold to

our order. ALFRED BIRD & CO.

when they could issue further delivery orders against it as goods were from time to time required by them in smaller lots.

Or if they wished to obtain a warrant for the goods. in their own or in another person's name they would blank endorse the order :

ALFRED BIRD & CO.

and lodge it with the wharfinger, asking him to make out a warrant in the name desired, and when issued the warrant would require the endorsement of the party named upon it.

If Alfred Bird & Co. wished the wharfinger or the warehouse-keeper to ship the goods, or deal with them any special manner, they would write their instructions in a letter, which would be sent with the delivery order, and endorse the order as follows:

in

If Alfred Bird & Co. wished to transfer the goods to