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 1912 
 
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Cornell University Law Library. 
 
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Cornell University Library 
 KF2305.A31912 
 
 Compilation of statutes relating to cont 
 
 3 1924 018 840 821 
 
 (Jornpll ICatu irlyonl Sjibraty 
 
Cornell University 
 Library 
 
 The original of tiiis book is in 
 tine Cornell University Library. 
 
 There are no known copyright restrictions in 
 the United States on the use of the text. 
 
 http://www.archive.org/details/cu31924018840821 
 
COMPILATION OF STATUTES 
 
 relating to contracts for the conditional sale or lease of 
 railroad rolling stock and equipment 
 
 COMPILED FOR 
 
 AMERICAN LOCOMOTIVE COMPANY 
 
 BY 
 
 SIMPSON. THACHER & BARTLETT 
 — ^ General Counsel 
 
 NEW YORK 
 JANUARY I. 1912 
 
Copyright, 1912, by 
 American Locomottve Company. 
 
*-^- - — -^^-^' 
 
 INDEX. 
 
 PAGE 
 
 Alabama 1 
 
 Alaska 3 
 
 Arizona 4 
 
 Arkansas 6 
 
 California 8 
 
 Colorado 10 
 
 Connecticut 12 
 
 Delaware 13 
 
 District of Columbia 14 
 
 Florida 15 
 
 Georgia 17 
 
 Idaho 19 
 
 Illinois 21 
 
 Indiana 22 
 
 Iowa 24 
 
 Kansas 26 
 
 Kentucky 28 
 
 Louisiana 30 
 
 Maine 32 
 
 Maryland 34 
 
 Massachusetts 35 
 
 Michigan 37 
 
 Minnesota ..... .i , 39 
 
 Mississippi 40 
 
 Missouri 42 
 
 Montana 44 
 
 Nebraska 47 
 
 Nerada 49 
 
 New Hampshire 50 
 
 New Jersey 52 
 
 New Mexico 53 
 
 New York 54 
 
 North Carolina 55 
 
 North Dakota 56 
 
 Ohio 67 
 
 Oklahoma 59 
 
 Oregon 61 
 
 Pennsylvania 63 
 
 Khode Island 64 
 
 South Carolina 66 
 
 South Dakota 68 
 
PAGE 
 
 Tennessee 69 
 
 Texas 71 
 
 Utah Y2 
 
 Vermont 74 
 
 Virginia 76 
 
 Washington 79 
 
 West Virginia 81 
 
 Wisconsin 82 
 
 Wyoming 83 
 
 Alberta , 85 
 
 British Columbia , 88 
 
 Manitoba 90 
 
 New Brunswick 91 
 
 Nova Scotia 94 
 
 Ontario 98 
 
 Prince Edward Island 102 
 
 Saskatchewan 105 
 
 Yukon Territory 108 
 
 Mexico Ill 
 
This compilation has been prepared at the request of the Ameri- 
 can Locomotive Company, in order to present in readily accessible 
 form the statutes — commonly called "Car Trust Statutes" — in force 
 in the United States, the Dominion of Canada and Mexico, on De- 
 cember 31st, 1911, relating to contracts for the conditional sale or 
 lease of railroad rolHng stock and equipment. 
 
 No attempt has been made to compile statutes relating to chattel 
 mortgages and contracts for the conditional sale or lease of chattels 
 other than railroad rolling stock and equipment, or statutes fixing 
 the status of rolling stock, or statutes creating public service com- 
 missions. 
 
 New York, January 1, 1912. 
 
 Simpson, Thacher & Bartlett, 
 
 62 Cedar Street, 
 
 New York. 
 
ALABAMA. 
 
 The Legislature meets quadrennially on the second Tuesday 
 in January in the odd-numbered years, beginning with the year 
 1911. {Const. (1901), Sec. 1,8; Code (1907), Vol. 1, p. 1,99, BOO.) 
 
 (SS93) Contracts for conditional sale of railroad rolling stock. 
 — Contracts for the conditional sale of railroad equipment or 
 rolling stock, by the terms of which the vendor retains the title until 
 payment of the purchase money, and the purchaser obtains posses- 
 sion, are void against the judgment creditors of the purchaser vpith- 
 out notice, or purchasers from him for a valuable consideration -with- 
 out notice, unless such contracts are in writing, and, within three 
 months after the making thereof, recorded in the office of the judge 
 of probate of the county in which such corporation may have its 
 principal oifice or place of business; and if it has not in this state 
 a principal office or place of business, then in the office of the 
 secretary of state; and, in addition, all cars or engines so sold 
 must have thereon, plainly marked, the name of the vendor. 
 
 (SS95) Such contract, or a certified copy thereof, rnay be received 
 in evidence. — Such contract, when the execution thereof has 
 been acknowledged or proved before an officer having authority to 
 take and certify the acknowledgment of conveyances, and when 
 such contract has been duly recorded, must be received in evidence 
 without other proof of execution; and if the original of such con- 
 tract is lost or destroyed, or the party ofiering in evidence a certified 
 transcript has not the custody or control thereof, a certified tran- 
 script from the record thereof must be received in evidence without 
 other proof of the execution of the original. 
 
 H900) Vendor receiving payment of purchase money recited 
 in conveyance must enter fact on record of conveyance. — When 
 a vendor's or other lien is reserved in any conveyance, which 
 is of record, of real or personal property to secure the pay- 
 ment of the purchase money recited in such conveyance, upon 
 the payment in full of such purchase money, the grantor, 
 or his executor, administrator or other person in whom the 
 ownership of such lien is vested at the time of the payment of 
 such purchase money must, on the request in writing of the gran- 
 tee his executor, administrator or assigns, or of a judgment or 
 other creditor of the grantee, enter the fact of payment on 
 
the margin of the record of such conveyance. Such entry op- 
 erates a release of such lien and is a bar to all suits 
 thereon at law or in equity. If for two months after such request, 
 the grantor, or hia executor, administrator, or other person in whom 
 the ownership of such lien is vested at the time of such payment, 
 fails to make such entry, he forfeits to the party making the re- 
 quest two hundred dollars; unless there is pending, or there is in- 
 stituted a suit within that time, in which the fact of payment or 
 satisfaction is or may be contested; but the provisions of this 
 section shall not apply to pending suits or cases in which notices 
 have already been given, as provided by law. 
 Civil Code (190Y), Vol. II. 
 
ALASKA. 
 
 Sec. 125. Filing of chattel mortgages. — It shall be the duty of the 
 commissioner, upon the presentation for that purpose of any mort- 
 gage or conveyance intended to operate as a mortgage of goods and 
 chattels, or a copy of any such instrument, and the payment of his 
 fees, to indorse thereon the time of receiving the same, and to de- 
 posit such instrument or copy in his office, to be kept for the 
 inspection of all persons interested (31 United States Statutes at 
 Large, 509). 
 
 Sec. 126. Index of chattel mortgage. — Such commissioner shall 
 enter in a book, to be provided by him for that purpose, the names 
 of all the parties to such instrument, arranging the names of the 
 mortgagors alphabetically, and shall note thereon the time of filing 
 each instrument or copy {ibid.). 
 
 Sec. 127. Mortgage to become invalid at the end of one year, 
 unless. — Every such mortgage shall cease to be valid as against 
 the creditors of the person making the same, or subsequent pur- 
 chasers or mortgagors in good faith, after the expiration of one 
 year from the filing of the same or a copy thereof, unless within 
 thirty days next preceding the expiration of the year the mortgagee, 
 his agent, or attorney shall make and annex to the instrument or 
 copy on file, as aforesaid, an affidavit setting forth the interest 
 which the mortgagee has, by virtue of such mortgage, in the property 
 therein mentioned, upon which affidavit the commissioner shall 
 indorse the time when the same was filed (ibid.). 
 
 Sec. 128. Affidavit may be renewed. — The effect of any such affi- 
 davit shall not continue beyond one year from the time when such 
 mortgage would otherwise cease to be valid as against the creditors 
 of the person making such mortgage or subsequent purchasers or 
 mortgagees in good faith; but within thirty days next preceding 
 the time when any such mortgage would otherwise cease to be valid, 
 as aforesaid, a similar affidavit may be filed and annexed, as pro- 
 vided in the preceding section and with like effect {ibid.). 
 
 Sec. 129. Copy in evidence, what it proves. — A copy of any such 
 instrimient, or a copy of any copy thereof so filed as aforesaid, 
 including any affidavits annexed thereto in pursuance of this 
 chapter, certified by the commissioner in whose office the same 
 shall be filed, shall be received in evidence, but only of the fact 
 that such instrument, copy, or affidavit was received and filed 
 according to the indorsement of the commissioner thereon, and of 
 no other fact {ibid.). 
 
 Civil Code, Fed. Sts. Anno. (1903), Vol. I, p. 254. 
 
AKIZONA. 
 
 Not admitted as a state at the time of publication. 
 A/MvodmiWcd ai State (i9t4) 
 
 ZlOJf. — Certain proceedings m the sale of railroad stock, etc., 
 
 .made lawful. — In any contract for the sale of railroad or street rail- 
 way equipment or rolling stock it shall be lawful to agree that the 
 title to the property sold, or contracted to be sold, although pos- 
 session thereof may be delivered inmiediately, or at any time or 
 times subsequently, shall not vest in the purchaser until the pur- 
 chase price shall be fully paid, or that the seller shall have and re- 
 tain a lien thereon for the unpaid purchase money. And in any 
 contract for the leasing or hiring of such property it shall be law- 
 ful to stipulate for a conditional sale thereof at the termination of 
 such contract, and that the rentals or amoim.ts to be received under 
 such contract may, as paid, be applied and treated as purchase 
 money, and that the title to the property shall not vest in the lessee 
 or bailee until the purchase price shall have been paid in full, and 
 until the terms of the contract shall have been fully performed, 
 notwithstanding delivery to and possessed [possession] by such 
 lessee or bailee: Provided, That no such contract shall be valid as 
 against any subsequent judgment creditor, lien holder, or any sub- 
 sequent hona fide purchaser for value and without notice unless: 
 
 1. — The same shall be evidenced by an instrument executed by 
 the parties and duly acknowledged by the vendee or lessee or bailee, 
 as the case may be, or duly proved before some person authorized 
 by law to take acknowledgment of deeds, and in the same manner 
 as deeds are acknowledged or proved. 
 
 2. — Such instrimient shall be filed for record in the office of the 
 secretary of this territory, and payments shall be made in full 
 within ten years from date of contract, and each payment noted 
 on the margin of the record. 
 
 3. — Each locomotive, engine or car so sold, leased or hired, or 
 contracted to be sold, leased or hired as aforesaid, shall have the 
 name of the vendor, lessor or bailor plainly marked on each side 
 thereof, followed by the word "owner" or "lessor" or "bailor," as 
 the case may be, and they shall in aU cases be liable in attachment 
 or under execution for any and all repairs done upon them, whether 
 at the request of the ovmer or lessee, and the lien for taxes, attach 
 the same as against other personal property, whether assessed to 
 owner or lessee. 
 
2705.— Such sales of railroads must he recorded.— The contracts 
 herein authorized shall be recorded by the secretary of the territory 
 in a book of records to be kept for that purpose, and on payment in 
 full of the purchase money, and the performance of the terms and 
 conditions stipulated in any such contract, a declaration, in writ- 
 ing, to that effect may be made by the vendor, lessor or bailor, or 
 his or its assignee, which declaration may be made on the margin 
 of the record of the contract, duly attested, or it may be made by 
 a separate instrument, to be acknowledged by the vendor, lessor or 
 bailor, or his or its assignee, and recorded as aforesaid, and for 
 such services the secretary of the territory shall be entitled to a 
 fee of ten dollars ($10) for recording each of said contracts and 
 each of said declarations, and a fee of two dollars and fifty cents 
 ($2.50) for noting such declaration on the margin of the record. 
 Eevised Statutes (1901), p. 720. 
 
 32SQ . In any contract for Oie sale of railroad 
 
 or street railway aqulpjient or rolling stock it shall 
 be lawful to agr^ie that the title to the property soid, 
 or contracted to be sold, although poeeeESion thereof 
 ■aay Ve delivered ir!ijiediat.ely, or at any -.itae or times 
 subsequently, ehall not Test in '.he purchaaerimtil ^ha 
 pxirehace price shall be fully paid, or that the seller 
 shall have and retain a lien thereon for the \m\ixid } ur- 
 chase money. And in an> con tract for the leasing or 
 hirinp- of 'such property it shall he la«fful to stipulate 
 for a conditional sale thereof at tVe tfer-ninalion of 
 sych coutr^jct, and the rentals or aiaoiints to be re- 
 caiTcd tinker such contract any, as paid, be applied and 
 treated ae purchase money, and chat the title to the 
 property shall not vest in the lessee or hailee until 
 the purchase price shall have been paid in ftall, and 
 until the teriJis of the contract shall have heen fully 
 perforiTisd, notwithetanding delivery to and possession 
 by Kuch lessee or "bailee; provided, that no such con- 
 tract shall he valid as a~alnst any subsequent jud?:rnent 
 creditor, lien hol-^ier, or any subsequent "bona fide pur- 
 chaser for value and without notice unless: 
 
 (1) The saifie shall he evidenced by an instrument 
 executed by the parties and duly acicno=*l edged by the 
 vendee or lessee or hailee, as the case m&y be, or duly 
 pjoved btifore sortie Terson authorised by law to take 
 acknowledgjsant of deeds, and in the same manner as deeds 
 are acknowledged or proved. , 
 
 (2) Such Instrument shall be filed for record in 
 the office of the secrttary of state and p&yraento stiall 
 be -nade in full within ten years fra; date of contract, 
 and each payment noted on the rsorgin of the record. 
 
 (a) Bach locaaotive engine or car so soil, leased 
 or hired, or contracted to be sold, leased or hired 
 as afcreeaid, shall have the na.-ae of the vendor, leesor 
 or bailor plainl;/ narked on each side thereof folio hed 
 by the word "owner" or "leseor" or * beilor^, as the cast 
 laay be, wad they shall in all cases be liable in attaeh- 
 ssent or under execution for any and all repairs done 
 upon thesi, 'Whether at the request of the owner or lefsee, 
 and the lien for taxes, attach the same as against other 
 personal property, whether asseesed to ovmar or lessee. 
 
 3Zdl. The contracts herein authorized shiUll be re 
 corded by the secretary of state in a book of records 
 to he kept for that purpose, and on paym^t in full 
 of the purchase money, tuifi upon the perfomanca of the 
 terras and conditions etipxxlated in any euch contract, 
 a declaration, in ?^riti n.<t, to that effect may be made by 
 the vendor, lessor or bailor, or his or its assi^ms, 
 ^ich declaration may he tnade on the margin of the record 
 of the contract, duly attested, or recorded as aforesaid, 
 and for such services the secretary of etate shall be 
 entitled to a fee of ten dollars for recording each of 
 said contracts and each of said declarations, and a fee 
 of t*o dollars and fifty cents for noting such leclara- 
 tion on the marf^in of the record. 
 
 RtfVieed Statutes Ai'izona, Civil Code (1V13) 
 p.llOt^. 
 
^705. — Such sales of railroads must he recorded. — Tte contracts 
 herein authorized shall be recorded by the secretary of the territory 
 in a book of records to be kept for that purpose, and on payment in 
 full of the purchase money, and the performance of the terms and 
 conditions stipulated in any such contract, a declaration, in writ- 
 ing, to that effect may be made by the vendor, lessor or bailor, or 
 his or its assignee, which declaration may be made on the margin 
 of the record of the contract, duly attested, or it may be made by 
 a separate instrument, to be acknowledged by the vendor, lessor or 
 bailor, or his or its assignee, and recorded as aforesaid, and for 
 such services the secretary of the territory shall be entitled to a 
 fee of ten dollars ($10) for recording each of said contracts and 
 each of said declarations, and a fee of two dollars and fifty cents 
 ($2.50) for noting such declaration on the margin oi the record. 
 
AEKANSAS. 
 
 The Oeneral Assembly meets hiennially on the second Monday 
 in January in the odd-numbered years. (Const., Art. Y , Sect. V, as 
 amended by Act of Nov. 30, 1870, Kirbys Dig. of Sts., Sec. 3708, 
 p. 8k6.) 
 
 Sec. 6678. In any contract for the sale of railroad or street 
 railway equipment or rolling stock, it shall be lawful to agree that 
 the title to the property sold or contracted to be sold, although 
 possession thereof may be delivered immediately, or at any time or 
 times subsequently, shall not vest in the purchaser until the pur- 
 chase price shall be fully paid, or that the seller shall have and 
 retain a lien thereon for the unpaid purchase money, and in any 
 contract for the leasing or hiring such property it shall be lawful 
 to stipulate for a conditional sale thereof at the termination of such 
 contract, and that the rentals or amounts to be received under such 
 contract, may as paid be applied and treated as purchase money, 
 and that the title to the property shall not vest in the lessee or bailee 
 until the purchase price shall have been paid in full, and until the 
 terms of the contract shall have been fully performed notwithstand- 
 ing delivery to and possession by such lessee or bailee; provided, no 
 such contract shall be valid as against any subsequent judgment 
 creditor or any subsequent bona fide purchaser for value and with- 
 out notice unless: 
 
 I. — The same shall be evidenced by an instrument executed by 
 the parties and duly acknowledged by the vendee or lessee or bailee, 
 as the case may be, or duly proved before some person authorized 
 by law to take acknowledgment of deeds and in the same manner 
 as deeds are acknowledged or proved. 
 
 II. — Such instrument shall be filed for record in the office of 
 the secretary of state of this commonwealth. 
 
 III. — Each locomotive engine or car so sold, leased or hired, 
 or contracted to be sold, leased or hired as aforesaid shall have the 
 name of the vendor, lessor, or bailor plainly marked on each side 
 thereof followed by the word "ownqr" or "lessor" or "bailor" as 
 the case may be. 
 
 Sec. 6679. The contracts herein authorized shall be recorded by 
 the secretary of state in a book of records to be kept for that pur- 
 
pose and on payment in full of the purchase money and the per- 
 formance of the terms and conditions stipulated in any such con- 
 tract, a declaration in writing to that effect may be made by the 
 vendor, lessor or bailor or his or its assignee, which declaration 
 may be made on the margin of the record of the contract duly at- 
 tested, or it may be made by a separate instrument to be acknowl- 
 edged by the vendor, lessor, bailor or his or its assignee and recorded 
 as aforesaid, and for such services the secretary of state shall be 
 entitled to the same fees that are allowed recorders for recording 
 deeds and mortgages (ibid.). Act April 10, 1903. 
 
 Kirby's Digest of the Statutes (1904), p. 1386. 
 
CALIFOENIA. 
 
 The Legislature meets hiennially on the first Monday after 
 January 1st in the odd-nurnbered years. {Const., Art. IV, Par. S.) 
 
 § 2965. — What personal property may he mortgaged. — Mortgages 
 may be made upon all growing crops, including grapes and fruit, 
 and upon and all kinds of personal property except the following: 
 
 (The excepted property consists of personal property not capable 
 of manual delivery, articles of wearing apparel and the stock in 
 trade of a merchant) as amended by Oh. 39, Sts. 1909, p. 34. 
 
 3. — Form of personal mortgage. — A mortgage of per- 
 sonal property may be made in substantially the following form: 
 
 "This mortgage, made the day of , in the year 
 
 , by A B, of , by occupation a , 
 
 mortgagor, to 0. D., of , by occupation a . mortgagee, 
 
 witnesseth : 
 
 "That the mortgagor mortgages to the mortgagee [here describe 
 
 the property], as security for the payment to him of dollars, 
 
 on [on or before] the day of , in the year , 
 
 with interest thereon [or, as security for the pajrment of a note or 
 obligation, describing it, etc.] A. B." Civil Code (1906). 
 
 § ^957. — When void as to third persons. — A mortgage of per- 
 sonal property is void as against creditors of the mortgagor and 
 subsequent purchasers and encumbrancers of the property in good 
 faith and for value, unless : 
 
 1. It is accompanied by the affidavit of all the parties thereto 
 that it is made in good faith and without any design to hinder, 
 delay, or defraud creditors; 
 
 2. It is acknowledged or proved, certified, and recorded in like 
 manner as grants of real property {ihid.). 
 
 -Where recorded. — A mortgage of personal property must 
 be recorded in the office of the county recorder of the county in 
 which the mortgagor resides, if the mortgagor be a resident of 
 this state, and it shall also be recorded in the county in which the 
 property mortgaged is situated, or to which it may be removed 
 (ibid.) as amended by Sts. and amends. 190Y, p. 853. 
 
 ). — Property in transit, where to he recorded. — For the 
 purposes of this article, property in transit from the possession of 
 
the mortgagee to the county of the residence of the mortgager, or 
 to a location for use, is, during a reasonable time for such trans- 
 portation, to be taken as situated in the county in which the mort- 
 gager resides, or where it is intended to be used {ibid.). 
 
 -Property of a common carrier, where to he recorded. — 
 For a like purpose, personal property used in conducting the busi- 
 ness of a common carrier is to be taken as situated in the county 
 in which the principal office or place of business of the carrier is 
 located (ibid.). 
 
 § S962. — Recorded in different places.- — A single mortgage of 
 personal property, embracing several things of such character or so 
 situated that by the provisions of this article separate mortgages 
 upon them would be required to be recorded in different places, is 
 only valid in respect to the things as to which it is duly recorded 
 (ibid.). 
 
 4- — Certified copies may be recorded, when. — A certified 
 copy of a mortgage of personal property once recorded may be re- 
 corded in any other county, and when so recorded the record there- 
 of has the same force and effect as though it was of the original 
 mortgage {ibid.). 
 
 § 2965. — Property exempt from effect of mortgage, when. — When 
 personal property mortgaged is thereafter removed from the county 
 in which it is situated the lien of the mortgage shall not be 
 affected thereby for thirty days after such removal; but after the 
 expiration of such thirty days, the property mortgaged is exempted 
 from the operation of the mortgage except as between the parties 
 thereto until either: 
 
 1. The mortgagee causes the mortgage to be recorded in the 
 ,unty to which the property has been removed; or, 
 
 2. The mortgagee takes possession of the property, as prescribed 
 I the next section {ibid.) as amended by Ch. 53, Sts. 1909, p. 44. 
 
 3. — May be taken by mortgagee as a pledge, when. — If the 
 mortgagor voluntarily removes or permits the removal of the mort- 
 gaged property from the county in which it was situated at the 
 time it was mortgaged, the mortgagee may take possession and dis- 
 pose of the property as a pledge for the payment of the debt, though 
 the debt is not due {ihid.). 
 
 Civil Code (1906), p. 568. 
 
CHAPTM 601. 
 
 An 
 
 the mortgagee to the county of the re^irlprnn^ .-f +1, 
 to a location for use is durinVr ''''"^''"f °^ *<^ mortgager, or 
 portation, to be taken ' J^^ ted inT" V™' ^°' ^"^^ ^^^°^- 
 gager resides, or where itlrilTilfrh^Lr S^'^ ^°" 
 
 irjfn ■~^'°^"'^^ '^ '^ "°™"''''^ ^«'-"'«'-^ "^^e'-e io ie recorded- 
 For a hke purpose, personal property used in conducting he bt? 
 ness o± a common carrier is tn he +„i -, ^^"^Jfe uie dusi- 
 
 in which the principaT office or 1 , T '''""^''^ '" ''^^ ^^'^"ty 
 located (i&.U) ^^''^^ °^ ^"^'"^^^ °f the carrier is ^^^ 
 
 %2962.~Recorded in different 
 
 places.—A single 
 
 Act to provide for the conditional sale ef railroad and 
 Btraet railway equipment or rolling stock, to rSf^ulate 
 the making and recording of contracls therefor and 
 declarations of the payment or perforiaaiice thereof, 
 and to authorize th&ir recordation In the office of 
 the Hscretary of staue, 
 
 (ApproTsdJune IX, 1913. In effect August 10, 1913 . 
 
 People ef the State of California do enact as followe: 
 SKCTIOK 1. 
 
 — ,, i,.^,,^„ iJiu,vKs. — .(i single mortgage of 
 
 !^rrri .Tr'!.^'.^"''''''*'i"^ '^^'^^^^^ or street railway aquipment or relliag stock, 
 
 In any contr&ict for the sale of 
 
 situated tbat >,' +1, "7"? ""■"'"' """'«« oi sucn cfiaracter or so ■* "■■^-*'^ "**^- ^^ atjrcc). raixway tsquipIRent or rolllag StOCk, It 
 
 uvon i^TlouU hi llZ^ZVi '^'" "^^^^^^^ ^® 1^^^ ^° ^sree that title to the property sold or 
 
 only valid in rcsDoct to tb«+J° "^ '' '^'^®''®''* P^''^*^^' ^^ °<5"^^'^G**"Ci to h-s Bold, although posBasston thsreof may he de- 
 
 o tne things as to which it is duly recorded liver ad isBnedl&lsly or &t any time or tiaes tsu^sequantly. 
 
 (ibid.). 
 
 §Sm.~Cerhfied copies may he recorded, when.~A certified 
 copy of a mortgage of personal property once recorded may be re 
 corded in any other county, and when so recorded the record there- 
 of has the same force and effect as though it was of the or gfnal 
 mortgage (ibid.). ungmai 
 
 ^mo.-Property exempt from effect of mortgage, when.-When 
 personal property mortgaged is thereafter removed from the county 
 in which It IS situated the lien of the mortgage shall not be 
 affected thereby for thirty days after such removal; but after the 
 expiration of such thirty days, the property mortgaged is exempted 
 rom the operation of the mortgage except as between the parties 
 thereto until either: 
 
 1. The naortgagee causes the mortgage to be recorded in tlie 
 county to which the property has been removed; or, 
 
 ^ 2. The mortgagee takes possession of the property, as prescribed 
 m the next section (ibid.) as amended by Ch. 53, Sts. 1909, p. 44. 
 
 § 2966.— May be taken by mortgagee as a pledge, when.—Ii the 
 mortgagor voluntarily removes or permits the removal of the mort- 
 gaged property from the county in which it was situated at the 
 time It was mortgaged, the mortgagee may take possession and dis- 
 pose of the property as a pledge for the payment of the debt, though 
 the debt is not due (ibid.). 
 
 Civil Code (1906), p. 568. 
 
 ▼est 
 
 oa' 
 
 id. 
 
 in tha purchaser until the purchase price 
 
 or that the seller shall h&ve and retain 
 
 And in any 
 
 sale thereof 
 
 as paid, "be 
 
 shall not 
 
 shall he fully 
 
 a lien thereon for the unpaid purchase money 
 
 contract for the leasing or hiring of such property, it 
 
 shall he lawful to stipul&te for a conditional 
 
 at the termination of euoh contract, and that the rentals or 
 
 assounta to he received under such contract may, 
 
 applied and treated as purchaas noney, and that 
 
 t© the property shall not vest in the lessee or 
 
 the title 
 hailee until 
 
 the purchase price shall have heun paid in full, and until 
 the terms of the contract shall have h«3«n fully performed, 
 notwithstanding^ delivery to and po.iseasion hy nuch lei^see or 
 hailse; |: roYlri-:-d, tYiat no such contract shall he valia as 
 a^^alnst ary euhesquent jud^jracnt creditor or any auhsequent 
 hona fide purchaser for valus an<i <?ithout notice, unless (l) 
 the same shall "be 8vid«snced. hy an instrursent executed hy the 
 parties and dxily acknowledged hy the vendee, lessse, or hailee, 
 hs the case may ha, or duly proved h^sfore aomi^ person au~ 
 thoria«3d hy law to take acknowleQ:>:esienta of deeds, &nd in 
 .the aase manner as deeds are &ckn©«lt;dgfcd or provadj (2) 
 fiiich instruBJtnt shall Tse f ilad for record in the office of 
 the secretary of state of this state; (3) feach car or 
 locomotlvs engina so sold, leasad, or hired, or contracted 
 leased, or hir^d as aforesaid, shall have tha 
 vendor, lessor, or hailor plainly marked in 1st- 
 Inoh In oiaa on dach aide thereof, 
 or "lessor j or "hailor*, as 
 
 to he sold, 
 tiar^e of the 
 
 tera not less than one 
 foIlow<=d hy the word "owner", 
 the cass aay he. 
 BMC, 2. 
 
 The contracts herein authorisst^d »hall h« 
 
 filed .Kith the secretary of atui,* and rsaorded hy his is a 
 to«k of rtjcorda to h« k^pt f«^r that purpco^. And en p4iy- 
 ssent. in f^i^■l «*f tha purehasB mon«y and the pt;rfc-rvfi&nc«' ef the 
 ttsme and ponditions stlpulstsd in sr.y Buch oontracv, a 
 gtfdeiaraxto)? In writing to that effect she.ll he -led© hv tha 
 ivsndor, i^jBeor, or bailor, or his or its afjsign<»#, «^ich 
 idecIaratloJB shsill he aade hy & separate InBtrttsenl, to 
 i&cknoarlsdged "by th« vendor, Isasor, or hailor, or h 
 fits assif^njs®, and risaorded »» aforsjssld. The secretary of 
 [state shall collect i«.nd pay into th^ state tr'.iasury fivt 
 jdollars fop filing a&ah of such contracts or s^claratlona 
 and twenty; c^mta per folic for recordinjf, the same* 
 
 he 
 or 
 
 ©r affect In any 
 tina referred ts 
 
 ir;a.ot hcrfeiof i!ira nmm 
 
 fhls act shall net he h^id to invalidate 
 vay &ny contr&ct ht-retofore mad^j ©f the 
 In ftsctlon one "hcrsef, snd any susrh con- 
 
 ts.sy, upon co^^pii^mcfc with th« provisions 
 
 gf this fite^t, he reGord.t;d fee hureln prcvlded. 
 
10 
 
 COLOEADO. 
 
 The General Assembly meets biennially on the first Wednesday 
 of January in the odd-numbered years. (Const., Art. V, Par. 7; 
 Revised Statutes {1908), p. 29.) 
 
 -Title to equipment may remain in owner until pur- 
 chase money paid. — That in any written contract, of or for the 
 sale of railroad equipment, or rolling stock, deliverable immediately, 
 or subsequently, at stipulated periods, by the terms of which the 
 purchase money, in whole or in part, is to be paid in the future, 
 it may be agreed that the title to the property so sold, or contracted 
 to be sold, shall not pass to, or vest in, the vendee, until the pur- 
 chase money shall have been fully paid, or that the vendor shall 
 have and retain a lien thereon for the unpaid purchase money, 
 notwithstanding delivery thereof to, and possession by, the vendee, 
 for a period not to exceed twenty-five years in any one contract, 
 which term shall be expressed in said contract; Provided, That the 
 situs or location of all such property shall for the purposes of taxa- 
 tion and revenue, be deemed to be within the State of Colorado. 
 
 552Jf. — Lease may stipulate sale. — In any written contract for 
 the leasing, or renting, of railroad equipment, or rolling-stock, it 
 shall be lawful to stipulate for a conditional sale thereof at the 
 termination of such lease, and to stipulate that the rentals re- 
 ceived may, as paid, or when paid in full, be applied and treated 
 as purchase money, and that the title to such property shall not 
 vest in such lessee, or vendee, until the purchase money shall have 
 been paid in full, notwithstanding delivery to, and possession by, 
 such lessee, or vendee. 
 
 5525. — Execution of contract. — Every such contract, specified 
 in sections one and two, shall be good, valid and effectual, both 
 in law and equity, against all purchasers and creditors; Provided, 
 First. — The same shall be acknowledged by the vendee, or lessee, 
 before some officer authorized by law to take acknowledgments 
 of deeds. Second — Such instrument shall be recorded, or a copy 
 thereof filed, in the office of the secretary of state, and in the office 
 of the recorder of each of the counties in which the said railroad 
 may be operated in this state. Third — Each locomotive engine, or 
 car, so sold, or contracted to be sold, or leased, as aforesaid, shall 
 have the name of the vendor, or lessor, or the assignee of such 
 
11 
 
 vendor, or lessor, plainly placed, or marked on each side thereof, or 
 be otherwise marked so as to indicate the ownership thereof, or 
 that the same is covered by such special contract. 
 
 55^7. — Form of acknowledgments. — The acknowledgments of 
 such contracts may be made in the form required as to conveyances 
 of real estate. 
 
 Eevised Sts., Colorado (1908), p. 1300. 
 
 66Jf£. — Rolling Stock Companies must report — Railway com- 
 pany furnish state board of equalization annual statement. 
 
 The president, vice-president, general superintendent, tax agent, 
 or some otheV general officer of each railway, company or corpora- 
 tion owning, operating, controlling or having in its possession in 
 this state, any railroad, shall furnish said board and file with its 
 clerk between the first day of March and the first day of April in 
 each year, a statement signed and sworn to by one of such officers, 
 and showing in detail for the year ending on the 31st day of 
 December preceding. 
 
 Fifth. A full list of rolling stock belonging to or operated 
 by such railway company, setting forth the number, class and 
 value of all locomotives, snow plows, flangers, wreckers, pile drivers 
 and steam shovels, passenger cars, dining cars, buffet cars, sleeping 
 cars or other palace cars, express cars, baggage cars, mail cars, box 
 cars, cattle cars, coal cars, platform cars and all other kind of cars, 
 owned or used by said company. 
 
 Sixth. A statement showing the amount and character of all 
 tools, materials, hand cars, push cars, supplies and all other personal 
 property, and the value thereof. 
 
 Eevised Sts., Colorado (1908), p. 1329. 
 
12 
 
 CONNECTICUT. 
 
 The General Assembly meets hiennially on the Wednesday fol- 
 lowing the first Monday of January in the odd-numbered years. 
 {Const., Art. Ill, Sec. 2, as amended hy Art. XXVII, Sec. IV; 
 General Statutes {Revision of 1902), p. 57.) 
 
 § 1(866. — Conditional sale of railway equipment to he recorded. — 
 In any contract for the sale of railroad or street railway equipment, 
 or rolling stock, it shall be lawful to agree that the title to the 
 property sold, or contracted to be sold, although possession thereof 
 may be delivered immediately or at any time or times subsequently, 
 shall not vest in the vendee until the purchase price shall be fully 
 paid, or that the vendor shall have and retain a lien thereon for 
 the unpaid purchase money. In any contract for the leasing or 
 hiring of such property, it shall be lawful to stipulate for a condi- 
 tional sale thereof, at the termination of such contract, and that 
 the rentals or amounts to be received under such contract may, as 
 paid, be applied and treated as purchase money, and that the title 
 to the property shall not vest in the lessee or bailee until the pur- 
 chase price shall have been paid in full, and until the terms of 
 the contract shall have been fully performed, notwithstanding de- 
 livery to and possession by such lessee or bailee; provided that no 
 such contract shall be valid as against any subsequent attaching 
 creditor, or any subsequent hona fide purchaser for value and with- 
 out notice, unless the same be evidenced by an instrument executed 
 and duly acknowledged by the parties thereto before some person 
 authorized by law to take acknowledgment of deeds, and in the 
 same manner as deeds are acknowledged, and duly recorded in the 
 office of the secretary of state, nor unless each locomotive engine, or 
 car, so sold, leased, or hired, or contracted to be sold, leased, or 
 hired, as aforesaid, shall have the name of the vendor, lessor, or 
 bailor, plainly marked on each side thereof, followed by the word 
 "ovsTier," or "lessor," or "bailor," as the case may be. 
 
 § Ji86T. — Performance of conditions; record of release. — The con- 
 tracts authorized by § 4866 shall be recorded by the secretary of 
 state in a book of records to be kept for that purpose. On payment 
 in full of the purchase money and the performance of the terms 
 and conditions stipulated in any such contract, a declaration in 
 writing to that effect, or a proper quitclaim deed, shall be made, 
 executed, and acknowledged by the vendor, lessor, or bailor, or his 
 or its assignee, and recorded in the office of the secretary of state. 
 Tor such services the secretary shall be entitled to receive the same 
 fees as in case of railroad mortgages. 
 
 General Statutes (Eevision of 1902), p. 1167. 
 
13 
 
 DELAWARE. 
 
 The General Assembly meets hiennially on the first Tuesday of 
 January in the odd-numhered years. (Const., Art. II, Sec. 4.) 
 
 Section 1. — That in all cases where railroad and street railway 
 equipment and rolling stock may have been or shall be sold to 
 any person, firm or corporation, to be paid for in whole or in part 
 in installments, or shall be leased, rented, hired or delivered on 
 condition that the same may be used by the person, firm or cor- 
 poration purchasing, leasing, renting, hiring or receiving the 
 same, the title to the same to remain in the vendor, lessor, renter, 
 hirer or deliverer of the same until the agreed upon price of or 
 rent for such property shall have been fully paid, such condition 
 in regard to the title so remaining in the vendor, lessor, renter, 
 hirer or deliverer until such payments are fully made, shall be valid 
 for all intents and purposes as to subsequent purchasers in good 
 faith and creditors; provided, the term during which the install- 
 ments or rent are to be paid shall not exceed ten years, and such 
 contracts shall be in writing and acknowledged. Revised Code 
 (1852), as amended, &c. (1893), p. 552, as amended by Oh. 29, 
 Laws of 1895, p. 89. 
 
 Sec. 2. — That such contract shall be recorded in the office of the 
 secretary of state at Dover, and in the county in which is located 
 the principal office or place of business of such vendee or lessee, and 
 on each locomotive or car that may have been or may be sold or 
 leased, the name of the vendor or lessor, or assignee of the vendor 
 or lessor, shall be marked, followed by the word "owner" or "lessor," 
 as the case may be (ibid.). 
 
14 
 
 DISTEIOT or COLUMBIA. 
 
 Sec. 6J1.8. Becording. — No bill of sale or mortgage or deed of 
 trust to secure a debt of any personal chattels whereof the vendor, 
 mortgagor, or donor shall remain in possession, shall be valid and 
 effectual to pass the title therein, except as between the parties to 
 such instrument and as to other persons having actual notice of it, 
 unless the same be executed, acknowledged, and within ten days 
 from the date of such acknowledgment recorded in the same man- 
 ner as deeds of real estate, as herein directed, and as to third persons 
 not having notice of it, as aforesaid, such instrument shall be opera- 
 tive only from the time within said ten days when it is delivered 
 to the recorder of deeds to be recorded. 
 
 Sec. 6ift. Conditional sales. — No conditional sale of chattels 
 in virtue of which the property is delivered to the purchaser, but 
 by the terms of which the title is not to pass until the price of 
 said chattels is fully paid, where the purchase price exceeds one hun- 
 dred dollars, shall be valid as against third persons acquiring title 
 to said property from said purchaser without notice of the terms 
 of said sale, unless the terms of said sale are reduced to writing 
 and signed by the parties thereto and acknowledged by the pur- 
 chaser and recorded in the same manner as a chattel mortgage, as 
 hereinabove provided; and said writing shall be indexed as if the 
 purchaser were a mortgagor and the seller a mortgagee of such chat- 
 tels, and shall be operative as to third persons without actual notice 
 of it from the time of being so recorded. 
 Code of Law (1910), p. 153. 
 
15 
 
 FLORIDA. 
 
 The Legislature meets hiennially on the first Tuesday after the 
 first Monday in April in the odd-numbered years. {Const., Art. Ill, 
 Sec. 2.) 
 
 284S. Contracts for sale of railroad. — In any contract for the 
 sale of railroad or street railway equipment or rolling stock, it 
 shall be lawful to agree that the title to the property sold, or 
 contracted to be sold, although possession thereof may be de- 
 livered immediately, or at any time or times subsequently, shall 
 not vest in the purchaser until the purchase price shall be 
 fully paid, or that the seller shall have and retain a lien 
 thereon for the unpaid purchase money. And in any contract 
 for the leasing or hiring of such property, it shall be law- 
 ful to stipulate for a conditional sale thereof at the termination of 
 such contract, and that the rentals or amounts to be received under 
 such contract may, as paid, be applied and treated as purchase 
 money, and that the title to the property shall not vest in the lessee 
 or bailee until the purchase price shall have been paid in full, and 
 until the terms of the contract shall have been fully performed, 
 notwithstanding delivery to and possession by such lessee or bailee: 
 Provided, That no such contract shall be valid as against any sub- 
 sequent judgment creditor, or any subsequent bona fide purchaser 
 for value and without notice, unless: 
 
 1. The same shall be evidenced by an instrument executed by 
 the parties and duly acknowledged by the vendee or lessee or bailee, 
 as the case may be, or duly proved, before some person authorized 
 by law to take acknowledgment of deeds, and in the same manner 
 as deeds are authorized or proved. 
 
 2. Such instrument shall be filed for record in the office of 
 the Secretary of State of this commonwealth. 
 
 3. Each locomotive engine or car so sold, leased or hired, or 
 contracted to be sold, leased or hired, as aforesaid, shall have the 
 name of the vendor, lessor or bailor plainly marked on each side 
 thereof, followed by the word "ovmer," or "lessor,'' or "bailor," as 
 the case may be. 
 
 28i6. Record of contract. — The contracts herein authorized shall 
 be recorded by the Secretary of State, in a book of records to be 
 kept for that purpose. And on payment in full of the purchase 
 
16 
 
 money and the performance of the terms and conditions stipulated 
 in such contract, a declaration in writing to that effect may be made 
 by the vendor, lessor, or bailor, or his or its assignee, ■which declara- 
 tion may be made on the margin of the record of the contract, didy 
 attested, or it may be made by a separate instrument to be ac- 
 knowledged by the vendor, lessor, or bailor, or his or its assignee, 
 and recorded as aforesaid. And for such services the Secretary 
 of State shall be entitled to a fee for such services as for similar 
 services, for recording each of said contracts and each of said 
 declarations, and a fee of one dollar for noting such declaration 
 on the margin of the record. 
 
 General Statutes (1906), p. 1113. 
 
17 
 
 GEORGIA. 
 
 The Legislature meets annually on the fourth Wednesday in 
 June. {Const., Art. Ill, Sec. 4, as amended hy Ads 1902, p. 66.) 
 
 § ^790. — Contract for conditional sale of rolling stocTc, etc. — 
 Any person or corporation may make a contract in writing with 
 any railroad company or person owning or operating a railroad in 
 this state to furnish said company or person with rolling stock or 
 other equipment, deliverable either immediately or subsequently 
 at stipulated periods; by the terms of which contract the purchase 
 money for said property, in whole or in part, is to be paid there- 
 after, and in which contract it may be agreed that the title of the 
 property so sold or contracted to be sold shall not pass to or vest 
 in the vendee until the purchase money for the same shall have 
 been fully paid, notwithstanding the delivery of such property to 
 and the possession of the same by the vendee; but that until said 
 purchase money shall have been fully paid, the title to said property 
 shall remain in said vendor and his or its assigns. 
 
 § 2791. — Contracts for the lease of rolling stock. — The manu- 
 facturer, owner or assigns of any railroad equipment or rolling 
 stock may make a written contract for the lease of such equipment 
 or rolling stock to any railroad company or person owning or 
 operating a railroad in this state; and in such contract it shall be 
 lawful to stipulate for a conditional sale of said property to the said 
 lessee on the termination of such lease, and to stipulate that the 
 rental received for said property may, as paid, or, when fully paid, 
 be applied and treated as purchase money, and that the title to 
 such property shall not vest in such lessee or vendee until the 
 amount of such purchase money shall have been paid in full to 
 the lessor or vendor, or to his or its assigns, notwithstanding the 
 delivery of such property to and possession of the same by such 
 lessee or vendee, but that until such purchase money shall have 
 been fully paid, the title to such property shall remain in said 
 lessor or vendor, or in his or its assigns. 
 
 -Validity and record of contracts. — Every such con- 
 tract hereby authorized shall be good, valid, and effectual to retain 
 the title to the said property in said vendor or lessor, or in his or 
 its assigns, as against the said vendee or lessee, and against all 
 persons claiming thereunder. Such contracts, if made within this 
 state, shall be executed in the presence of, and attested by, or be 
 
18 
 
 proved before a notary public, or justice of any court in this state, 
 or a clerk of the superior court. If made without this state, it 
 shall be executed in the presence of, and attested by, or proved be- 
 fore a commissioner of deeds for the State of Georgia, or a consul 
 or vice-consul of the United States (the certificates of the fore- 
 going officers, under their seals, being evidence of the fact), or by a 
 judge of a court of record in the state where executed; such con- 
 tract shall be recorded within six months after the date of its exe- 
 cution, in the office of the clerk of the superior court of the 
 county where is situated the principal office, in this State, of the 
 said railroad company. Each locomotive engine and each car 
 so sold, or contracted to be sold or leased, as aforesaid, shall have 
 the name of the vendor or lessor, or the assignee of such vendor or 
 lessor, plainly placed or marked on the same, or be otherwise so 
 marked as to plainly indicate the ownership thereof. 
 Code (1911), Vol. I, p. 737. 
 
19 
 
 IDAHO. 
 
 The Legislature meets biennially on the first Monday after the 
 first day of January in the odd-numbered years. (Const., Art. Ill, 
 Sec. 8; Code (31 Old).) 
 
 Sec. 2827. Lien of Vendor or Lessor. — In any contract for the 
 sale of railroad or street railway equipment or rolling stock, it 
 shall be lawful to agree that the title to the property sold or con- 
 tracted to be sold, although possession thereof may be delivered 
 immediately, or at any time or times subsequently, shall not vest 
 in the purchaser until the purchase price shall be fully paid, or 
 that the seller shall have and retain a lien thereon for the unpaid 
 purchase money. And in any contract for the leasing or hiring of 
 such property, it shall be lawful to stipulate for a conditional sale 
 thereof at the termination of such contract, and that the rentals 
 or amounts to be received under such contract may, as paid, be 
 applied and treated as purchase money, and that the title to the 
 property shall not vest in the lessee or bailee until the purchase 
 price shall have been paid in full, and until the terms of the 
 contract shall have been fully performed, notwithstanding delivery 
 to and possession by such lessee or bailee; Provided, That no such 
 contract shall be valid as against any subsequent judgment creditor, 
 or any subsequent bona fide purchaser for value and without notice, 
 unless : (1) The same shall be evidenced by an instrument executed 
 by the parties and duly acknowledged by the vendee or lessee or 
 bailee, as the case may be, or duly proved before some person 
 authorized by law to take acknowledgment of deeds, and in the 
 same manner as deeds are acknowledged or proved; (2) such in- 
 strument shall be filed for record in the office of the Secretary of 
 State; (3) each locomotive, engine or car so sold, leased or hired, or 
 contracted to be sold, leased or hired as aforesaid, shall have the name 
 of the vendor, lessor or bailor plainly marked on each side thereof, 
 followed by the word "owner" or "lessor" or "bailor" as the case 
 may be. 
 
 Sec. 2828. Same: Record of Contract. — The contracts herein 
 authorized shall be recorded by the Secretary of State in a book of 
 records to be kept for that purpose. And on payment in full of the 
 purchase money, and the performance of the terms and conditions 
 stipulated in any such contract, a declaration in writing to that 
 eSect may be made by the vendor, lessor or bailor, or his or its 
 
20 
 
 assignee, whicli declaration may be made on the margin of the 
 record of the contract, duly attested, or it may be made by a sepa- 
 rate instrument, to be acknowledged by the vendor, lessor or bailor, 
 or his or its assignee, and recorded as aforesaid. And for such 
 services the Secretary of State shall be entitled to a fee of two dol- 
 lars for recording each of said contracts and each of said declara- 
 tions, and a fee of one dollar for noting such declaration on the 
 margin of the record. 
 
 Civil Code (1908), p. 1126. 
 
21 
 
 ILLINOIS. 
 
 The General Assembly meets biennially on the Wednesday next 
 after the first Monday in January in the odd-numbered years. 
 (Const., Art. IV, Par. 9.) 
 
 62. Contract to be in writing. — § 1. Be it enacted by the Peo- 
 ple of the State of Illinois, represented in the General Assembly, 
 That whenever any railroad or street car equipment or rolling stock 
 shall hereafter be sold, leased or loaned on the condition that the title 
 to the same notwithstanding the possession and the use of the same 
 by the vendee, lessee or bailee, shall remain in the vendor, lessor or 
 bailor, until the terms of the contract, as to the payment of the 
 installments, amounts or rentals payable or the performance of 
 other obligations thereunder, shall have been fully complied with, 
 but also providing that title thereto shall pass to the vendee, lessee 
 or bailee on full performance of said terms, such contract shall be 
 invalid as to any subsequent judgment creditor or any subsequent 
 purchaser for a valuable consideration without notice, unless. 
 
 First. — The same shall be evidenced by writing, duly acknowl- 
 edged by the vendee, lessee or bailee before some person authorized 
 by law to take acknowledgments of deeds and in the form proper 
 for acknowledgments of deeds. 
 
 Second. — Such writing shall be recorded, or a copy thereof filed, 
 in the office of the secretary of state, who shall be entitled to receive 
 one dollar for each such copy filed by him. 
 
 Third. — Each locomotive or car so sold, leased or loaned shall 
 have the name of the vendor, lessor or bailor plainly marked upon 
 both sides thereof, followed by the word owner, lessor, vendor or 
 bailor, as the case may be. 
 
 Hurd's Revised Statutes (1909), p. 1746. 
 
22 
 
 INDIAJSTA. 
 
 The General Assembly meets biennially on the Thursday next 
 after the first Monday in January in the odd-numhered years. 
 {Const., Art. IV, Sec. 105 (9).) 
 
 6526. Sale of rolling stock — Vendor's lien. 1. — That in any 
 written contract of or for the sale of railroad equipment or rolling 
 stock deliverahle immediately or subsequently at stipulated periods, 
 by the terms of which the purchase-money, in whole or in part, is to 
 be paid in the future, it may be agreed that the title to the prop- 
 erty so sold or contracted to be sold, shall not pass to or vest in the 
 vendee until the purchase-money shall have been fully paid, or that 
 the vendor shall have and retain a lien thereon for the unpaid pur- 
 chase-money, notwithstanding delivery thereof to and possession 
 by the vendee: Provided, That the terms of credit for the payment 
 of the purchase money shall not exceed igg^ years from the execution 
 of the contract. 
 
 55^7. Conditional Sale. 2. — In any written contract for the 
 leasing or renting of railroad equipment or rolling stock it shall 
 be lawful to stipulate for a conditional sale thereof at the termi- 
 nation of such lease, and to stipulate that the rental received may, 
 as paid or when paid in full, be applied and treated as purchase- 
 money, and that the title to such property shall not vest in such 
 lessee or vendee until the purchase-money shall have been paid in 
 full, notwithstanding delivery to and possession by such lessee or 
 vendee, subject, however, to the proviso contained in section 1 
 of this act. 
 
 6528. When valid. 3. — Every such contract specified in sections 
 1 and 2 shall be good, valid and effectual, both in law and equity, 
 against all purchasers and creditors: Provided, First, the same 
 shall be acknowledged by the vendees or lessees before some 
 officer authorized to take acknowledgments of deeds; second, such 
 instrument shall be recorded within sixty (60) days after its exe- 
 cution in the office of the secretary of state in Indianapolis, Indiana, 
 and when so recorded in the office of the secretary of state, shall be 
 valid and binding so far as all property covered by the same is con- 
 cerned, no matter in what part or portion of the state the same 
 may be at any time; third, each locomotive engine or car so sold 
 or contracted to be sold or leased as aforesaid, shall have the name 
 of the vendor or lessor, or the assignee of such vendor or lessor 
 
23 
 
 plainly placed or marked on each side thereof, or be otherwise 
 marked so as to indicate the ownership thereof, and when the ven- 
 dor is a citizen of Indiana then, in addition to the recording here- 
 inbefore required, the vendor shall record in the county where the 
 vendor lives. 
 
 66S0. — A chnowledg merits. 5. — The acknowledgments of such 
 contracts may be made in the form required as to conveyances of 
 real estate. 
 
 Bums' Anno. Sts. (1908), Vol. II, p. Y60. 
 
 $ee chMS^ lowc <4 1909 |or «ci«e 
 
 CWdbterWol fh« lows of 1909, Sections 5^e•:, 
 5*101, sio», Burnk /tnno.^».»9K,VoMj:,)p.U90, now 
 
 povide'i ^r the cor\dittoruj| tiate o| rt)\Uu& *TocH <Jnd 
 clfetrical eou'^mefvi h street or interurtdn site^ 
 rotlrood componies. 
 
24 
 
 IOWA. 
 
 The Legislature meets hiennially on the second Monday in 
 Januwry in the odd-numbered years. (Const., Art. Ill, Sec. 2.) 
 
 Sec. 2061. — Conditional sale or lease of equipment or rolling 
 stoch. — ^In any contract for the sale of railroad or street railway 
 equipment or rolling stock or power house, electric or other equip- 
 ment or street or interurban railways or of electric light and power 
 companies or of steam heating companies, such equipment includ- 
 ing engines, boilers, generators, switch boards, transformers, motors 
 and other machinery and appliances, it may be agreed that the title 
 thereto, although possession thereof be delivered immediately or at 
 any time or times subsequently, shall not vest in the purchaser until 
 the purchase price shall be fully paid, or that the seller shall have 
 and retain a lien thereon for the unpaid purchase money. In any 
 contract for the leasing or hiring of such property, it may be 
 stipulated for a conditional sale thereof at the termination of such 
 contract, and that the rentals or amounts to be received under such 
 contract may, as paid, be applied and treated as purchase money, 
 and that the title to the property shall not vest in the lessee or 
 bailee until the purchase price shall have been paid in full, and 
 until the terms of the contract shall have been fully performed, 
 notwithstanding delivery to and possession by such lessee or bailee; 
 but no such contract shall be valid as against any subsequent judg- 
 ment creditor, or subsequent liona fide purchaser for value without 
 notice, unless: 
 
 1. The same shall be evidenced by an instrument executed by 
 the parties and acknowledged by the vendee, or lessee, or bailee, as 
 the case may be, in the same manner as deeds are acknowledged or 
 proved; 
 
 2. Such instrument shall be filed for record in the office of the 
 secretary of state; 
 
 3. Each locomotive engine, stationary engine, boiler, switch 
 board, transformer, motor, other piece of machinery or appliance 
 or car sold, leased or hired as aforesaid shall have the name of the 
 vendor, lessor or bailor plainly marked on each side thereof, followed 
 by the word "owner," "lessor" or "bailor," as the case may be. 
 
 Sec. 2052. — Recording. — The contracts herein authorized shall 
 be recorded by the secretary of state in a book of records to be kept 
 
25 
 
 for that purpose, and, ob payment in full of the purchase money 
 and the performance of the terms and conditions stipulated in any 
 such contract, a declaration in writing to that efiect may he made 
 by the vendor, lessor or bailor, or his or its assignee, which declara- 
 tion may be made on the margin of the record of the contract, duly 
 attested, or it may be made by a separate instrument, to be acknowl- 
 edged by the vendor, lessor or bailor, or his or its assignee, and re- 
 corded as aforesaid. For such services the secretary of state shall be 
 entitled to a fee of ten cents per hundred words for recording 
 each of the contracts and each of said declarations but in no case 
 shall the fee be less than one dollar and a fee of one dollar for 
 noting such declaration on the margin of the record. 
 Supplement Code (1907), p. 455. 
 
26 
 
 KANSAS. 
 
 The Legislature meets hiennially on the second Tuesday in Jan- 
 uary in odd-numbered years. {Const., Par. IJfS.) 
 
 § 7 IJ^Ji..— Retention of title; lien for -purchase-money. § 167. — 
 In any contract for the sale of railroad or street railway equip- 
 ment or rolling stock it shall be lawful to agree that the 
 title to the property sold or contracted to be sold, although 
 possession thereof may be delivered immediately or at any 
 time or times subsequently, shall not vest in the purchaser 
 until the purchase price shall be fully paid, or that the seller shall 
 have and retain a lien thereon for the unpaid purchase money. 
 And in any contract for the leasing or hiring of such property it 
 shall be lawful to stipulate for a conditional sale thereof at the 
 termination of such contract, and that the rentals or amounts to 
 be received under such contract may, as paid, be applied and 
 treated as purchase money, and that the title to the property shall 
 not vest in the lessee or bailee until the purchase price shall have 
 been paid in full, and until the terms of the contract shall have 
 been fully performed, notwithstanding delivery to and possession 
 by such lessee or bailee: Provided, That no such contract shall be 
 valid as against any subsequent judgment creditor, or any subse- 
 quent bona fide purchaser for value and without notice, unless: 
 (1) the same shall be evidenced by an instrument executed by the 
 parties and duly acknowledged by the vendee or lessee or bailee, as 
 the case may be, or duly proved before some person authorized by 
 law to take acknowledgment of deeds, and in the same manner as 
 deeds are acknowledged or proved; (2) such instrument shaU be 
 filed for record in office of the secretary of state of this common- 
 wealth; (3) each locomotive engine or car so sold, leased or hired, 
 or contracted to be sold, leased or hired as aforesaid, shall have the 
 name of the vendor, lessor or bailor plainly marked on each side 
 thereof, followed by the word "owner," or "lessor," or "bailor," as 
 the case may be. 
 
 71Ji5. — Recorded. § 168. — The contracts herein authorized 
 shall be recorded by the secretary of state in a book of 
 records to be kept for that purpose. And on payment in full of 
 the purchase money, and the performance of the terms and condi- 
 tions stipulated in any such contract, a declaration in writing to 
 that effect may be made by the vendor, lessor or bailor, or his or 
 
27 
 
 its assignee, which declaration may he made on the margin of the 
 record of the contract, duly attested, or it may be made by a sep- 
 arate instrument, to be acknowledged by the vendor, lessor or bailor, 
 or his or its assignee, and recorded as aforesaid. And for such 
 services the secretary of state shall be entitled to a fee of two dol- 
 lars for recording each of said contracts and each of said declara- 
 tions, and a fee of one dollar for noting such declaration on the 
 margin of the record. 
 
 Dassler's General Statutes (1909), p. 1523. 
 
28 
 
 KENTUCKY. 
 
 The General AssemUy meets Uennially on the first Tuesday after 
 the first Monday in January in the even-numlered years. (Const., 
 Par. 36.) 
 
 § 2408.— Boiling stocTe of railroads— lien of person furnishing — 
 agreement to he recorded. In any written contract of or for the 
 sale of railroad equipment or rolling stock, deliverable immediately 
 or subsequently, at stipulated periods, by the terms of which the 
 purchase money in whole or in pari is to be paid in the future, it 
 may be agreed that the title to the property so sold, or contracted 
 to be sold, shall not pass to or vest in the vendee, until the purchase 
 money shall have been fully paid, or that the vendor shall have and 
 retain a lien thereon for the unpaid purchase money, notwith- 
 standing delivery thereof to the vendee ; but the terms of credit for 
 the payment of the purchase money shall not exceed twenty-five 
 years from the execution of the contract. Such agreement shall 
 not be valid as against subsequent purchasers for value without 
 notice, or against creditors until such contract shall have been 
 acknowledged or proved as deeds of trust and mortgages are re- 
 quired to be and lodged for record in the office of the secretary of 
 state, where they shall be recorded. 
 
 § S409. — Contract may stipulate for conditional sale and rent- 
 ing. — In any written contract for the leasing or renting of such 
 property, it shall be lawful to stipulate for a conditional sale 
 thereof at the termination of such lease, and to stipulate that the 
 rentals received may, as paid, or when paid in full, be applied and 
 treated as purchase money, and that the title to such property shall 
 not vest in such lessee or vendee, notwithstanding delivery to him, 
 until the purchase money shall have been paid in full, subject, how- 
 ever, to the provisos contained in section 2495.* 
 
 § 2410. — Release of lien. — Assignment of obligation. — On pay- 
 ment in fuU of the purchase money, and the performance of the 
 terms and conditions stipulated in any contract authorized herein, 
 a declaration in writing to that effect shall be made by the vendor; 
 or if he shall have assigned or transferred the notes or bonds for 
 the purchase money, it shall be made by such assignee only. Such 
 declaration may be made by a writing on the margin of the record 
 
 * § 2495. Time to commence action limited to one year. 
 
29 
 
 of the contract, attested by the secretary of state, or it may be 
 made by a separate instrument, to be acknowledged and recorded 
 as the original contract is required to be. The assignment of the 
 purchase money, notes or bonds may be noted of record, as in cases 
 of assignment of lien notes in deeds. 
 
 § 2]fll. — Words to ie printed on engine and cars. — On each lo- 
 comotive or car that may be sold or leased, in accordance with the 
 provisions of this article, the name of the vendor or lessor shall 
 be distinctly marked, followed by the word "owner" or "lessor," as 
 the case may be. 
 
 Eussell, Statutes of Kentucky (1909), p. 5T8. 
 
30 
 
 LOUISIAJSTA. 
 
 The General Assemhly meets biennially on the second Monday 
 of May in the even-numbered years. (Const.! Art. 23.) 
 
 Parties may agree that possession shall not vest title in vendee. 
 
 Section 1. — That in any contract for the sale of railroad or 
 street railway equipment or rolling stock, it shall be lawful to agree 
 that the title to the property sold or contracted to be sold, although 
 possession thereof may be delivered immediately or at any times sub- 
 sequently shall not vest in the purchaser until the price be fully 
 paid; or that the seller shall have and retain against any and all 
 persons a lien and privilege thereon for the unpaid purchase money. 
 And in any contract for the leasing or hiring of such property, it 
 shall be lawful to stipulate for a conditional sale thereof after 
 termination of such contract; and that the rentals, or amount to 
 be received under such contracts may, as paid, be applied and 
 treated as purchase money, and that the title to the property shaU 
 not vest in the lessee or bailee until the purchase price shall have 
 been paid in full, and until the terms of the contract shall have 
 been fully performed, notwithstanding delivery to and possession 
 by such vendee, lessee or bailee; provided that no such contract 
 shall be valid against any subsequent judgment creditor, or any sub- 
 sequent bona fide purchaser for value and without notice, unless: 
 
 1. The same shall be evidenced by an instrument executed by 
 the parties and duly acknowledged by the vendee, lessee or bailee, 
 as the case may be, or duly proved before some person authorized 
 by law to take acknowledgment of deeds, and in the same manner 
 as deeds are acknowledged or proved. 
 
 2. Such instrument shall be filed for record in the office of 
 the recorder of the parish of East Baton Kouge, in a book to be 
 kept by him for the purpose, to be called Eailroad Conditional 
 Sales Book, if the vendee, lessee or bailee therein is a railroad or 
 railway company whose line is situated in more than one parish; 
 and if such vendee, lessee or bailee is a railroad or railway com- 
 pany whose line is situated only in one parish, then in the office 
 of the recorder of the parish wherein such railroad or railway is 
 situated, in the ordinary mortgage book. 
 
 3. Each locomotive engine or cars so sold, leased or hired, or 
 contracted to be sold, leased or hired, as aforesaid, shall have the 
 
31 
 
 name of the vendor, lessor or bailor plainly marked on each side 
 thereof, followed by the word owner or lessor, or bailor, as the case 
 may be. 
 
 Non-payment, etc., gives vendor right to take possession. 
 
 Sec. 8. — That in a case of a failure on the part of any vendee, 
 lessee or bailee to make the payments, or perform the covenants 
 in any such contract contained, it shall be lawful for the lessor, 
 vendor or bailor, or his, or its assignee to retake the property in 
 accordance with the contract; and in case of such retaking the 
 vendee, lessee, or bailee or his or its assignee shall have no right 
 of redemption, and all payments made under such a contract shall 
 be forfeited to the vendor, lessor or bailor, or the party to whom 
 they may have been made. 
 
 Proceedings on payment of debt. 
 
 Sec. 4. — That on payment in full of the purchase money, and 
 the performance of the terms and conditions stipulated in any such 
 contract, a declaration in writing to that effect may be made by the 
 vendor, lessor or bailor, or his or its assignee, which declaration 
 may be made on the margin of the record of the contract, duly at- 
 tested, or it may be made by a separate instrument, to be acknowl- 
 edged by the vendor, lessor, or bailor, or his or its assignees, and re- 
 corded as aforesaid. 
 
 Wolff's Constitution and Eevised Laws (1904), Vol. 
 II, p. 1483. 
 
32 
 
 MAINE. 
 
 The Legislature meets hienniaJly on the first Wednesday in Jan- 
 uary in the odd-nurnbered years. {Const., Art. IV., Sec. 1, as 
 amended hy Amendment Art. XXIII.) 
 
 Sec. 95.— In any contract for the sale of equipment or roll- 
 ing-stock for a railroad of any kind, it shall be lawful to agree that 
 the title to the property sold or contracted to be sold, although 
 possession thereof may be delivered immediately, or at any time 
 or times subsequently, shall not vest in the purchaser until the pur- 
 chase price shall be fully paid, or that the seller shall have and 
 retain a lien thereon for the unpaid purchase money. And in any 
 contract for the leasing or hiring of such property, it shall be law- 
 ful to stipulate for a conditional sale thereof at the termination of 
 such contract, and that the rentals or amounts to be received under 
 such contract, may, as paid, be applied and treated as purchase 
 money, and that the title to the property shall not vest in the lessee 
 or bailee until the purchase price shall have been paid in full, and 
 until the terms of the contract shall have been fully performed, 
 notwithstanding delivery to and possession by such lessee or bailee; 
 provided, that no such contract shall be valid as against any subse- 
 quent judgment creditor, or any subsequent bona fide purchaser 
 for value and without notice, unless: 
 
 I. The same shall be evidenced by an instrument executed by 
 the parties and duly acknowledged by the vendee or lessee or bailee 
 as the case may be, or duly proved, before some person authorized 
 by law to take acknowledgment of deeds, and in the same manner 
 as deeds are acknowledged or proved. 
 
 II. Such instrument shall be filed for record in the office of 
 the secretary of state of this state. 
 
 III. Each locomotive engine, or car so sold, leased or hired, 
 or contracted to be sold, leased or hired as aforesaid, shall have 
 the name of the vendor, lessor or bailor plainly marked on each 
 side thereof, followed by the word "ovmer" or "lessor" or "bailor," 
 as the case may be. 
 
 Sec. 96. — The contracts herein authorized shall be recorded by 
 the secretary of state in a book of records to be kept for that pur- 
 pose. And on payment in full of the purchase money, and the 
 performance of the terms and conditions stipulated in any such 
 
33 
 
 contract, a declaration in writing to that effect may be made by 
 the vendor, lessor or bailor, or his or its assignee, which declaration 
 may be made on the margin of the record of the contract, duly 
 attested, or it may be made by a separate instrument, to be ac- 
 knowledged by the vendor, lessor or bailor, or his or its assignee, 
 and recorded as aforesaid. 
 
 See. 97. — The provisions of section five of chapter one hundred 
 and thirteen shall not apply to any contract specified in section 
 ninety-five, nor shall any contract specified in said section be con- 
 strued a mortgage or an instrument under chapter ninety-three, 
 requiring foreclosure and entitling the holder of property there- 
 under to an equity of redemption, but any personal property held 
 under any contract specified in section ninety-five shall be subject 
 to trustee process as provided in section fifty of chapter eighty- 
 eight. 
 
 Eevised Statutes (1903), p. 541. 
 
 Sec. 17. — The secretary of state shall receive: 
 
 Por recording contract of conditional sale of railroad equip- 
 ment, or written declaration of satisfaction of same, five dollars; 
 and for noting declaration of the satisfaction of such contract 
 on the margin of the record, one dollar; which fees shall not be 
 within the provisions of section forty-five of chapter two. 
 Eevised Statutes (1903), p. 905. 
 
34 
 
 MAEYLAJSTD. ^ 
 
 The General Assemhly meets biennially on the first Wednesd(fQj 
 of January in the even-numhered years. {Const., Art. HI, Sec. 1^ Jj^ 
 Tvhlic General Laws {IGOlf), Vol. I, p. 128.) gj. 
 
 87. — ^In all cases where any railroad equipment and roUii ^* 
 stock, or other personal property to be used in or about the oper *J9 
 tion of any railroad, shall be sold to any person, firm or corporatio XO 
 to be paid for in whole or in parts by instalments, or shall Qf 
 
 ^mM fsuc\ leased, rented, hired or delivered on condition that the (MR ^^''8)1 
 '*" V^ / be used by the person, firm or corporation purchasing, leasing, rei »^ 
 ing, hiring or receiving the same, the title to the same to remain . . , 
 the vendor, lessor, renter, hirer or deliverer of the same until t , 
 agreed-upon price of such property shall have been paid, such co ^" 
 dition in regard to the title so remaining in the vendor, lessc w® 
 renter, hirer or deliverer, notwithstanding delivery to and possessifpU 
 by the other party, until such payments are fully made, shall -te 
 valid for all intents and purposes as to subsequent purchasers ah 
 good faith, and creditors; provided, the term during which the re *„ 
 or instalments are to be paid shall not exceed Mm years. Such co-i« „ 
 tracts shall be in writing and shall be acknowledged and record^ 
 J as deeds in the county in which the said wwiliMr or ittMH^ has ;P~ 
 
 V^nwWf principal office in this state. 
 
 iCSS66 Bttbliffl ' Qiinuul LjiU]w f !W » i>; i »r>iill i I, ' iJ >'g B »f 
 
 i»«/ehty 
 
••91. In all cases where any railroad equlpratsnt 
 %linf" (Stock, or ot"her personal property Co he used 
 'labout the ot>eration of any railroad shall be sold to 
 !|faon, firm or corporation, to be paid for in whole or 
 lUt by instalments, or shall be leased, rented, hired 
 'lilvered on condition that the same shall be used by 
 ii|3«8on, firm or corporation purchaaing, leasing, rent- 
 \kring, or receiving the eame, the title to the naae 
 iiain in the vendor, leoeor, renter, hirer, or deliverer 
 II Bame until the agreed upon price of such property 
 teiave been paid, such condition in regard to the title 
 »!iaining in the vendor, lessor, renter, hirer or de- 
 liir, not^thstandlng delivery to and posseesion by 
 llher party, until such payments are fully made, shall 
 nid for all Intsnta and purposes iis to subsequent 
 iteer» in jjood faith, and crsditorBj provided, the 
 isiuring which the rant or Instal-anta are to "be paid 
 inot exceed twenty yaara. Such contracts shall be 
 rclng and shall be aeXnovvlcd- .d and recorded as d«ed8 
 in councy in which the said vendee or leasee has its 
 [tlKpal office in this State.* 
 
 Bagby'a Annotated Code» Vol. I, P. &-^^« 
 
35 
 
 MASSACHUSETTS. 
 
 The Legislature meets annually on the -first Wednesday of Jan- 
 uary. (Const., Amendments, Art. X; Revised Laws {190S), p. Ji£.) 
 
 Section 59. — A contract for the sale of railroad or street railway 
 rolling stock may stipulate that the title to the property sold or 
 contracted to be sold shall not vest in the purchaser until the pur- 
 chase price is fully paid, or that the vendor shall have and retain 
 a lien thereon for the unpaid purchase money although possession 
 thereof may be delivered immediately or at any siibsequent time, 
 and a contract for the leasing or hiring of such property may 
 stipulate for a conditional sale thereof at the termination of such 
 contract, and that the rentals or amounts to be received thereunder 
 may, as paid, be applied and treated as purchase money, and that 
 the title to the property shall not vest in the lessee or bailee until 
 tliG purchase price shall have been paid in full and until the terms 
 of the contract shall have been fully performed, notwithstanding 
 delivery to and possession by such lessee or bailee. No such con- 
 tract shall be valid as against any subsequent attaching creditor 
 or any subsequent bona fide purchaser for value and without notice 
 unless it is in writing executed by the parties and duly acknowl- 
 edged by the vendee, lessee or bailee before a magistrate authorized 
 to take acknowledgments of deeds, and in the same manner as 
 deeds are acknowledged, and recorded in the office of the secretary 
 of the commonwealth; nor unless each locomotive, engine or car so 
 sold, leased or hired, or contracted to be sold, leased or hired as 
 aforesaid, shall have the name of the vendor, lessor or bailor plainly 
 marked on each side thereof, followed by the word "owner," "lessor," 
 or "bailor," as the case may be. The provisions of chapter one hun- 
 dred and ninety-eight of the Eevised Laws shall not apply to such 
 contracts. 
 
 Section 60. — A contract authorized by the preceding section 
 shall be recorded by the secretary of the commonwealth in a book 
 to be kept for that purpose, and upon payment in full of the pur- 
 chase money and the performance of the terms and conditions 
 stipulated in such contract, a declaration in writing thereof may 
 be made by the vendor, lessor or bailor, or his assignee on the 
 margin of the record of the contract, attested, or it may be 
 made by a separate instrument, to be acknowledged by the vendor. 
 
36 
 
 lessor or bailor, or his assignee, and recorded as aforesaid. A fee 
 of five dollars shall be paid to the secretary of the commonwealth 
 for recording such contract or declaration, and a fee of one dollar 
 for noting such declaration on the margin of the record. 
 
 Supplement to Eevised Laws (1902-1906), p. 5Y6. 
 
37 
 
 MICHIGAN. 
 
 The Legislature meets iiennially on the first Wednesday in Jan- 
 uary in the odd-numiered years. {Const. (1907), Art. V, 8ec. SS.) 
 
 10^7 {6S36) Section 1. — The People of the State of Michigan enact. 
 That in any contract for the sale of railroad or street-railway 
 equipment or rolling stock, it shall be lawful to agree that the 
 title to the property sold or contracted to be sold, although pos- 
 session thereof may be delivered immediately, or at any time or 
 times subsequently, shall not vest in the purchaser until the pur- 
 chase price shall be fully paid, or that the seller shall have and re- 
 tain a lien thereon for the unpaid purchase money. And in any 
 contract for the leasing or hiring of such property, it shall be law- 
 ful to stipulate for a conditional sale thereof at the termination 
 of such contract, and that the rentals or amounts to be received 
 under such contract may, as paid, be applied and treated as pur- 
 chase money, and that the title to the property shall not vest in the 
 lessee or bailee until the purchase price shall have been paid in 
 full, and until the terms of the contract shall have been fully per- 
 formed, notwithstanding delivery to and possession by such lessee 
 or bailee : Provided, That no such contract shall be valid as against 
 any subsequent judgment creditor, or any subsequent hona fide 
 purchaser for value and without notice, unless: 
 
 First, The same shall be evidenced by an instrument executed 
 by the parties and duly acknowledged by the vendee or lessee or 
 bailee, as the case may be, or duly proved, before some person 
 authorized by law to take acknowledgment of deeds, and in the 
 same manner as deeds are acknowledged or proved: 
 
 Second, Such instrument shall be filed for record in the office 
 of the secretary of state of this commonwealth: 
 
 Third, Each locomotive engine, or car so sold, leased or hired 
 or contracted to be sold, leased or hired as aforesaid, shall have the 
 name of the vendor, lessor, or bailor plainly marked on each side 
 thereof, followed by the word "owner" or "lessor" or "bailor," as 
 the case may be. 
 
 10^8(6337) Sec. 2. — The contracts herein authorized shall be in- 
 dexed by the secretary of state in a book of records to be kept for 
 that purpose; and on payment in full of the purchase money, and 
 the performance of the terms and conditions stipulated in any such 
 
38 
 
 contract, a declaration in writing to that effect shall be made by 
 the vendor, lessor, or bailor, or his or its assignee, which declaration 
 shall be made on the margin of the index of the contract, duly at- 
 tested, or it may be made by a separate instrument, to be acknowl- 
 edged by the vendor, lessor, or bailor, or his assignee, filed and in- 
 dexed, and for such services the secretary of state shall be entitled 
 to a fee of one dollar for indexing each of said contracts and each 
 of said declarations, and a fee of one dollar for noting such de- 
 claration on the margin of the index, and twenty cents per folio for 
 furnishing certified copies : Providing, That if said vendor, or lessor, 
 or bailor, or his or its assignee fails or refuses to make such declara- 
 tion in writing on the margin of the index of contracts that such 
 purchase money has been paid in full within thirty days said 
 vendor, lessor, or bailor, or his or its assignee shall be liable to a 
 fine of not more than five hmidred dollars. 
 
 Compiled Laws (1897), p. 2005. 
 
 Howell's Wchican eiotutee /Innotdfed Second 
 Edition, 191 S, VfclufYie Bi:,f5agieassi , 
 
39 
 
 MIISTNESOTA. 
 
 The Legislature meets hiennially on the first Tuesday after the 
 first Monday in January of each odd-numhered year. {Const., 
 Art. IV, Par. 1. Revised Laws (1906), Par. 9, p. S.) 
 
 (o%'i^ ^903f— Rolling stock, etc. — Lien for purchase money. — In any 
 contract for the purchase and sale of railroad equipment or rolling 
 stock, whether deliverable at once or at future stated times, by the 
 terms of which the purchase money is to be paid wholly or partly 
 after such delivery, it may be agreed that the title to such property 
 shall not pass to the vendee until the purchase price shall have 
 been fully paid, or that the vendor shall have and retain a lien 
 thereon for the unpaid purchase money, nothwithstanding delivery 
 thereof; provided, that the term of credit for purchase money shall 
 not exceed ten years from the execution of the contract. 
 
 h%Z(i§i^904j—Same — Lease — Conditional Sale. — In any contract for 
 the leasing of railroad equipment or rolling stock the parties 
 may stipulate for a conditional sale thereof at the termination of 
 such lease, that the rentals, as paid or when paid in full, may be 
 treated and applied as purchase money, and that the title to such 
 ■}h^ property shall not vest in jmxA lessee or vendee until the purchase 
 money shall have been fully paid, subject, however, to the proviso 
 in § ®i^ <oVlS 
 
 ^iJl!^%\2905}—8ame — Contracts — Requisites of validity. — Every such 
 contract shall be acknowledged by the vendee or lessee as in the 
 case of a conveyance of land, and shall be filed for record with 
 the Secretary of State and with the Register of Deeds of the county 
 
 rtg in which, at the time of fe[ execution, the principal office or place 
 of business of the vendee or lessee is situated in this State. Each 
 locomotive, engine or car so sold or leased shall have the name of 
 the vendor or lessor plainly marked on each side, or be other- 
 wise so marked as to indicate the ownership thereof. And, upon 
 compliance with this section, such contract shall be valid and 
 effectual, both in law and in equity, against all purchasers and 
 creditors. 
 
 Revised Laws of Minnesota ^1905), p. 5YY. 
 
 Genital ^dtutes ('3»3),1F>>»'M9 
 
40 
 
 MISSISSIPPI. 
 
 The Legislature meets in regular sessions quadrennially on the 
 first Tuesday after the first Monday in January in the even-num- 
 hered years after 1892, and in special sessions quadrennially on the 
 same day in the even-numhered years after 189Jt. (Const., Art. IV, 
 Sec. 36.) 
 
 IflOS. — Vendor of railroad equipment may retain title till 
 money paid. — In any written contract of or for the sale of rail- 
 road equipment and rolling stock deliverable immediately or sub- 
 sequently at stipulated periods by the terms of whicb the purchase- 
 money, in whole or in part, is to be paid in the future, it may be 
 agreed that the title to the property so sold or contracted to be so 
 sold, shall not pass to or vest in the vendee until the purchase money 
 shall have been paid, and the vendor may retain a lien thereon for 
 the unpaid purchase money, notwithstanding delivery thereof •. to 
 and possession by the vendee; provided, that the terms of credit for 
 the payment of the purchase-money shall not exceed fifteen years 
 from the execution of the contract. 
 
 As amended by Ch. 212, Laws (1910), p. 214. 
 
 Jj-lO^. — How rental money treated and applied. — In any written 
 contract for the leasing or renting of any railroad equipment or 
 rolling-stock, it shall be lawful to stipulate for a conditional sale 
 thereof at the termination of such lease, and to stipulate that the 
 rentals received may, as paid, or when paid in full, be applied and 
 treated as purchase-money, and that the title to such property shall 
 not vest in such vendee or lessee until the purchase-money shall 
 have been paid in full, notwithstanding delivery to and possession 
 by such lessee or vendee, subject, however, to the proviso contained 
 in section 4103. 
 
 Ji-IOB. — Such contract good against creditors. — Every such con- 
 tract specified in the two preceding sections shall be good, valid, 
 and effectual, both in law and in equity, against all purchasers and 
 creditors; provided, first, the same shall be acknowledged by the 
 vendee or lessee before some officer authorized by law to take 
 acknowledgments of deeds; second, such instrument shall be re- 
 corded in the office of the clerk of the chancery court in which, at 
 the time of the execution thereof, is situated the principal office of 
 the vendee or lessee in this state, or in the office of the secretary of 
 
11 
 
 state; third, each locomotive-engine or car so sold or contracted to 
 be sold or leased as aforesaid, shall have the name and residence of 
 the vendor or lessor plainly placed or marked on each side thereof, 
 and also the word "vendor" or "lessor" as the case may be, or shall 
 be conspicuously marked so as to indicate the residence and charac- 
 ter of interest therein, or shall be otherwise marked so as to indicate 
 the ownership thereof. 
 
 Code of 1906, p. 1128. 
 
42 
 
 MISSOUEI. 
 
 The Legislature meets biennially on the first Wednesday after 
 the first day of January in the odd-numhered years. (Const., Art. 
 IV, Sec. ZO.) 
 
 Sec. S311. — Sales of railway equipment and rolling stocTe — Con- 
 ditional sales. — In any contract for the sale of railroad or street 
 railway equipment, or rolling stock, it sliall be lawful to agree that 
 the title to the property sold, or contracted to be sold, although 
 possession thereof may be delivered immediately, or at any time or 
 times subsequently, shall not vest in the purchaser until the pur- 
 chase price shall be fully paid, or that the seller shall have and re- 
 tain a lien thereon for the unpaid purchase money ; and in any con- 
 tract for the leasing or hiring of such property, it shall be lawful to 
 stipulate for a conditional sale thereof at the termination of such 
 contract, and that the rentals or amounts to be received under such 
 contract may, as paid, be applied and treated as purchase money, 
 and that the title to the property shall not vest in the lessee or 
 bailee until the purchase price shall have been paid in full and 
 until the terms of the contract shall have been fully performed, not- 
 withstanding delivery to and possession by such lessee or bailee: 
 Provided, That no such contract shall be valid as against any sub- 
 sequent judgment creditor, or any subsequent hona fide purchaser 
 for value without notice, unless: 
 
 First, The same shall be evidenced by an instrument executed 
 by the parties, and duly acknowledged by the vendee or lessee or 
 bailee, as the case may be, or duly proved before some person 
 authorized by law to take acknowledgment of deeds, and in the 
 same manner as deeds are acknowledged or proved; 
 
 Second, Such instrument shall be filed for record in the office 
 of the secretary of state; 
 
 Third, Each locomotive engine or car so sold, leased or hired, or 
 contracted to be sold, leased or hired, as aforesaid, shall have the 
 name of the vendor, lessor or bailor plainly marked on each side 
 thereof, followed by the word "owner," or "lessor," or "bailor," as 
 the case may be, which mark or marks shall be effaced inunediately 
 upon the payment or satisfaction of the indebtedness or incum- 
 brance thereon; and every corporation, person or persons, which 
 shall fail, neglect or refuse to comply with this provision, shall 
 
43 
 
 forfeit and pay for such failure, neglect or refusal the sum of five 
 dollars for every day the same shall be continued, for each piece 
 of property so marked, to be sued for and recovered in the name 
 of the people of the state, by the attorney-general, in any court of 
 cognizance thereof, to be paid into the state treasury in the same 
 manner as fees hereinafter provided by this article. 
 
 Sec. SS12. — Conditional contracts of sale or lease to lie recorded. 
 — The contracts herein authorized shall be recorded by the secre- 
 tary of state in a book of records to be kept for that purpose. And 
 on payment in full of the purchase money, and the performance 
 of the terms and conditions stipulated in any such contract, a 
 declaration in writing to that effect may be made by the vendor, 
 lessor or bailor, or his or its assignee, which declaration may be 
 made on the margin of the record of the contract, duly attested, or 
 it may be made by a separate instrument, to be acknowledged by 
 the vendor, lessor or bailor, or his or its assignee, and recorded as 
 aforesaid. And for such services the secretary of state shall be 
 entitled to a fee of twenty-five dollars, and one dollar in addition 
 for every hundred words in excess of one thousand words, for re- 
 cording each of said contracts, and each of said declarations, and 
 a fee of ten dollars for noting such declaration on the margin of 
 the record; and all such fees shall be paid by him into the state 
 treasury and added to the "seminary fund," in accordance with the 
 provisions of Article XX of Chapter 106 of the Revised Statutes of 
 1909. 
 
 Revised Statutes (1909), p. 1193. 
 
44 
 
 MONTAITA. 
 
 The Legislative Assembly meets hiennially on the first Monday 
 of January in the odd-numhered years. {Const., Art. V, § 6.) 
 
 § JfSOl. — Conditional sale valid. — In all cases where railroad 
 equipment and rolling stock may have been, or shall be sold, 
 to any person, firm, or corporation, to be paid for, in whole 
 or in part, in installments, or shall be leased, rented, hired, 
 or delivered, on condition that the same may be used by the 
 person, firm or corporation purchasing, leasing, renting, hir- 
 ing, or receiving the same, and that the title to the same shall re- 
 main in the vendor, lessor, renter, hirer, or deliverer of the same 
 until the agreed upon price, or rent for such property shall have 
 been fully paid, such condition in regard to title so remaining in 
 the vendor, lessor, renter, hirer, or deliverer, until such payments 
 are fully made, shall be valid for all intents and purposes as to 
 subsequent purchasers in good faith, and creditors; Provided, The 
 term during which the installments or rent are to be paid, shall 
 not exceed ten years, and such contract shall be in writing, duly 
 executed, acknowledged, and recorded, as hereafter provided. 
 
 -Contract to he recorded. — Such contract shall be re- 
 corded in the office of the secretary of state, and in the office of the 
 county clerk of the county in which is located the principal office 
 or place of business of such vendee or lessee, and on each locomo- 
 tive or car that may have been sold or leased, the name of the 
 vendor, or lessor, or assignee of the vendor or lessor, shall be marked, 
 followed by the word "Owner," or "Lessor," as the case may be. 
 
 (. — Chattel mortgage. — Any mortgage of personal property 
 which constitutes the equipment, or part of the equipment, of any 
 railroad company, may be recorded as provided in § 4302 of this 
 chapter, and if the same is lona fide the lien thereby created shall 
 be good for all intents and purposes whatever, for such length of 
 time as therein provided, not exceeding said period of ten years. 
 
 § JfSOJf. — Satisfaction. — Upon payment in full of the purchase 
 price and the performance of the terms and conditions stipulated in 
 any such contract, a declaration to that efPect shall be made by the 
 vendor, or his assignee, which declaration may be made on the mar- 
 gin of the record of the contract, attested by the secretary of state, 
 
45 
 
 or county clerk, as the case may be, or the satisfaction may be made 
 by a separate instrument, which shall be acknowledged and recorded 
 in the offices in which the original contract was recorded, and there- 
 upon the secretary of state and county clerk shall write in the 
 margin of the record the word "Satisfied," together with the date 
 of satisfaction, and the page, and book of record of the declara- 
 tion of the satisfaction. 
 
 -Conditional sale of equipment. — In any contract for 
 the sale of railroad or street railway equipment or rolling 
 stock, it shall be lawful to agree that the title to the prop- 
 erty sold or contracted to be sold, although possession thereof 
 may be delivered immediately, or at any time or times sub- 
 sequently, shall not vest in the purchaser until the purchase 
 price shall be fully paid, or that the seller shall have and 
 retain a lien thereon for the unpaid purchase money, and in any 
 contract for the leasing or hiring of such property, it shall be law- 
 ful to stipulate for a conditional sale thereof at the termination 
 of such contract, and that the rentals or amounts to be received 
 under such contract, may, as paid, be applied and treated as pur- 
 chase money and that the title to the property shall not vest in the 
 lessee or bailee until the purchase price shall have been paid in 
 full, and until the terms of the contract shall have been fully per- 
 formed, notwithstanding delivery to and possession by such lessee 
 or bailee; Provided, That no such contract shall be valid as against 
 any subsequent judgment creditor, or any subsequent hona fide 
 purchaser for value and without notice unless: 
 
 First: The same shall be evidenced by an instrument executed 
 by the parties and duly acknowledged by the vendee or lessee, or 
 bailee, as the case may be, or duly proved, before some person au- 
 thorized by law to take acknowledgment of deeds, and in the same 
 manner as deeds are acknowledged or proved. 
 
 Second: Such instrument shall be filed for record in the office 
 of the secretary of state of this state, and also in the office of the 
 county clerk and recorder in each county of this state in which 
 the line of such railroad or street railway company extends. 
 
 Third: Each locomotive engine, or car so sold, leased or hired, 
 or contracted to be sold, leased or hired as aforesaid, shall have the 
 name of the vendor, lessor or bailor plainly marked on each side 
 thereof followed by the word "Owner" or "Lessor" or "Bailor" as 
 the case may be. 
 
 § ^306. — Contract to be recorded. — The contract herein author- 
 ized shall be recorded by the secretary of state in a book 
 
46 
 
 of records to be kept for that purpose, and on payment in 
 full of the purchase money, and the performance of the terms 
 and conditions stipulated in any such contract, a declaration 
 in writing to that effect, may be made by "the vendor, lessor, 
 or bailor, or his or its assignee, which declaration may be 
 made on the margin of the record of the contract, duly attested, 
 or it may be made by a separate instrument to be acknowledged by 
 the vendor, lessor, or bailor, or his or its assignee, and recorded 
 as aforesaid, and for such services the secretary of state shall be 
 entitled to a fee of fifteen dollars, for recording each of said con- 
 tracts and each of said declarations, and a fee of one dollar for 
 noting such declaration on the margin of the record. 
 Civil Code (1907), p. 1287. 
 
47 
 
 NEBEASKA. 
 
 The Legislature meets hiennially on the first Tuesday of January 
 in the odd-numhered years. (Constitution, Art. Ill, Sec. 7; Com- 
 piled Statutes (1907), p. 46.) 
 
 S661. Sec. 27a. [Railroad property^. — In any contract for the 
 sale of railroad or street railway equipment or rolling stock, it 
 shall be lawful to agree that the title to the property sold or con- 
 tracted to be sold, although possession thereof may be delivered 
 immediately, or at any time or times subsequently, shall not vest 
 in the purchaser until the purchase price shall be fully paid, or 
 that the seller shall have and retain a lien thereon for the unpaid 
 purchase money. And in any contract for the leasing or hiring 
 of such property, it shall be lawful to stipulate for a conditional 
 sale thereof at the termination of such contract. And that the 
 rentals or amounts to be received under such contract may, as 
 paid, be applied and treated as purchase money, and that the title 
 to the property shall not vest in the lessee or bailee until the pur- 
 chase price shall have been paid in full, and until the terms of the 
 contract shall have been fully performed, notwithstanding delivery 
 to and possession by such lessee or bailee. Provided, That no such 
 contract shall* until the purchase price shall have been paid in full 
 and until the terms of the contract shall have been fully performed, 
 notwithstanding delivery to and possession by such lessee or bailee; 
 Provided that no such contract shall be valid as against any sub- 
 sequent judgment creditor, or any subsequent iona fide purchaser 
 for value and without notice, unless: I. The same shall be evi- 
 denced by an instrument executed by the parties and duly acknowl- 
 edged by the vendee, or lessee or bailee, as the case may be, or duly 
 proved, before some person authorized by law to take acknowledg- 
 ment of deeds, and in the same manner as deeds are acknowledged 
 or proved. II. Such instrument shall be filed for record in the ofEce 
 of the secretary of state of this commonwealth. III. Each loco- 
 motive engine, or car so sold, leased or hired, or contracted to be 
 sold, leased or hired, as aforesaid, shall have the name of the vendor, 
 lessor or bailor plainly marked on each side thereof, followed by 
 the word "owner," or "lessor," or "bailor," as the case may be. 
 
 Sec. 2Tb. [Same — Contracts — Records']. — The contracts 
 herein authorized shall be recorded by the secretary of state in a 
 
 * An evident omission in enrolled bill. 
 
48 
 
 book of records to be kept for that purpose. And on payment in 
 full of the purchase money, and the performance of the terms and 
 conditions stipulated in any such contract, a declaration in writing 
 to that effect may be made by the vendor, lessor, or bailor, or his 
 or its assignee, which declaration may be made on the margin of 
 the record of the contract, duly attested, or it may be made by a 
 separate instrument, to be acknowledged by the vendor, lessor, or 
 bailor, or his or its assignee, and recorded as aforesaid. And for 
 such services the secretary of state shall be entitled to a fee of 
 fifteen ($15.00) dollars, for recording each of said contracts and 
 each of said declarations, and a fee of two ($2.00) dollars for noting 
 such declaration on the margin of the record. 
 
 Compiled Statutes (1907), p. 898. 
 
48 
 
 book of records to be kept for that purpose. And on payment in 
 full of the purchase money, and the performance of the terms and 
 conditions stipulated in any such contract, a declaration in writing 
 to that effect may be made by the vendor, lessor, or bailor, or his 
 or its assignee, which declaration may be made on the margin of 
 the record of the contract, duly attested, or it may be made by a 
 separate instrument, to be acknowledged by the vendor, lessor, or 
 bailor, or his or its assignee, and recorded as aforesaid. And for 
 such services the secretary of state shall be entitled to a fee of 
 fifteen ($15.00) dollars, for recording each of said contracts and 
 each of said declarations, and a fee of two ($2.00) dollars for noting 
 such declaration on the margin of the record. 
 Compiled Statutes (1907), p. 898. 
 
 •263S. TecJ 18. COMDITIOSAL BXmOUIMMBSOW 
 EAILeOAD OR BtBSEt AhXmAY ^-"-In any contract for the 
 male of I'&klffG&a or etrtset raiisfiay equijp^ent or roliiB^ 
 atock, it shall b« lawful to a^r«« that the title to 
 
 the proper tjr mtXd or contracted to h& seM, ^Ifk&n^ 
 pofssessioa U'^t^ye-of jeiay be d«li"rer<&d iis^Rdi&tely, ©r &t 
 emy tiae or tii^e^ subseiuently, jslmil not vest lis %hQ 
 pixrQhu»er imtil the piurcfeasft oriee ahall be I'ully 
 paid, ex that the eeiier fcfeali hs!9& m^ retain & ll-en 
 thsreos f<?r th® tm|>«iid pureh?isa mcn^y, and In any 
 eectriiot for tl;© leasing ©r hiiriaiE? of such prwfferty, 
 it ©hall be lawful ts> stipulate for a ooitidttiafii^l 
 sale thersaf at the teiainatiaa of mtCh r;oatraet», 
 and th^as, th# rentaie or aaaioimtB t© '??£• rec©i*red under 
 Bueh comtTfs^t i?s<y> as paid, bs applied imd treated 
 a© piareh«-fe« mouwy, and tlha.t ti?.@ tttl^- to property 
 Ehall aot vest in lessee or bailee tmtil the pardiase 
 price ©hail h^re- heen paid In f-all, ftaa antll th.s 
 t&^m of the contract ^BsJi h^-ve been fwlly perfsri^ed, 
 not«rithstandiHg &tliw&ry to ana so»a#»eloii bj Buch leS9«< 
 &r bailee; KHO¥iD£», no ©uch contract ahali be valid 
 aB a^galnst aoy 8ul>fiequeat jiidg^aeat eredifeor, or any 
 subeetiuent bona fide purchaser for "r&lu© -asnd »'ittoout 
 notice, unlesB: 
 
 FIilSt~'-'flie e^Bue ©Itali be eYidenee^ by an 
 ln6tri^«5Gt «x«e-atM >>y tke partiee and duly etc^owl*- 
 edgad hy thfc TeiMee, or leasee or bailee, tm the 
 caee ais^- fee, or duly preired, before gcme person 
 &iutlioriai«d 'oy las to take acknowledgment of deedB, 
 and in tJ-e feaac- manner e^- d©e4g c'.re aeicao'wiedged or 
 pr©Y^, 
 
 SSCOSJK- Such in®trtJ6®eat »htiii be filed far 
 record in the cffice of the teecretor;^ of state of 
 lliie co&S:ionv?ealtli» 
 
 tlflKD— 'Sacii locofiKJtlTe engine, ©r cux && 
 B014, leased or hired, or contre;cted to be sola, 
 leased or hired, as aforeeaid, shall have tUe? nsaan 
 o.t the -?«maor, iee^or or b&ilor plainly jaarkad on 
 ^ae>i Eide tl-xereof, followed bj the wrd 'oimer,* or 
 'le«scr,* »r »b«ii©r,* ms the ca«e aa^ b©.» 
 
 ••£u39. Sec. 19. lieeorg of VtxntT ufTt.. 
 
 -;erl.;ration of Perfor-n^mce - Faea. Z The coWtr&ets 
 
 a-uthanxed toy the ne^t preccdinit section shall be r»- 
 corcea fey the secretary of state in & book of records 
 O l.SLf^l *!:^^ purpose. Afvd on payment in full of 
 
 8. 
 
 b^ the 
 
 an?I4L?l'^"'» r.'^i^"" '^^ assign.. /anSrIcSrdea 
 a» aforesaid. And for such acrTices tine j«»cret&rv 
 
 of atate shall he entitled to & feo of f ifte?^ Sollirs 
 
 for recording each ef «aid oontraets and a*ch of said * 
 
 declarations, ^^6 a fee of two dollars for noUn-^ t^ch 
 
 secl?iration on the aargin of the record," "°-^"^ **"<^« 
 
 U' 
 
 t.= Of ^e^r.,». (m3)r ''• *'"'"' "• »""«'" 8«t- 
 
[ Chgp. 273 Ql Lawa of ^^evada of 1913 , 
 
 »Chap. 278 - Kn Act to provide for the conditional 
 sale of ri-iilrof»4 and atreet railv*ay equipraert ^or 
 rollinr stock, to regulate the a^ikinp: nd record- 
 ing of contracts tharefor and declarations of the 
 payment or performance thereof and to 'authorize 
 their recordation in the office of tht secretary 
 of state , ^ 
 
 (Approved March 27, 1315) 
 
 The People of the state of Fevnda, represented in 
 Senate and Atseerabiy, do enact aa follows: 
 
 Section 1. In any contract for the sale of rail- 
 ro-id or street railsn^ equipment or rolling- stocV, 
 it shall he lawful to agree that the title to the prop- 
 ert.y sold or contracted to oe aold, although posses- 
 sion thereof -nay he delivered iimediately or at ^jiy 
 time or timea at^haeq-ently, shall not vest in the 
 purchaser until the purchase p^'ice ^shall be fully 
 paid, or that the seller shall have and retain a 
 lien thereon for the unpaid purchase sioney . And in any 
 contract for the leasinir or hiring of such property, 
 it shall be lawful to stipulate for a conditional 
 sule thereof at the termination of such contract, 
 and that the rentals or irriounts to he received under 
 such contract may, as paid, he applied ajid treated as 
 purchase money, -md that the title to the property 
 shall not vcsi. in the lessee or bailee until the 
 purchase price ahall have been paid in full, ,ind un- 
 til the terse of the contract Bh7*.ll have been ful3y 
 performed, notwithstanding delivei-y to and poti session 
 by such lessee or bailee i proTrided. that no such con- 
 tract shrill be valid as t:^ain8t any auhseqiient judgment 
 creditor or T.ny evhgeqvent teor?a fide purchaser for "value 
 'and without notice, unless TTPthe sarse shall he ev- 
 idenced by -m inetrwnent executed by the parties rmd 
 duly aclmowledced by the ven<iee, lessee, or bailee, 
 as the cage may he, or duly proved before sose r.erson 
 authorized by law to ta^ke aclcnowlfedgiBents of deeds, 
 and in the same mnnnei' as detds are ac]cnowlcdt?ed or 
 proved; (2) auch instrument shall he filed f;^r record 
 in the office of the secretary of state of this state; 
 (3) each car cr locomotive engine so sold, leased, or 
 hired, or contracted to he s<jld., Xerssed, or hired as 
 aforesaid, -^^shall have th'« n-^ne of the vendor, lessor, 
 or b'-'.ilor plainly "rarked in letters not less than one 
 inch in siae on each Jtide th.s5ro-:>f, followed by the word 
 'o<»nerJ or 'lessor', or 'bailor', -;» tne case faay be. 
 
 Sec. 2. The contracts he: rein authorized shall 
 he filed with the secretary of state and recorded by 
 hiiB in a book of recorao to be kept for that purpose. 
 Ad on payiajent in full of th« purchrjse money and the 
 performance of the texma and eosditions aiipulat«d 
 In any such, contract, a declaration ia rriting to 
 that effect shall "be made by the vendor, lessor, or 
 bailor, or his or its asaignce, shlch declaration 
 shall he made by a aepare,te i strument, to he ac- 
 !knowledge4 by the ven dor, lei'isor^ or h ai lor ,^_o r hi a 
 lor its asaignse, and recorded as aforesaid. Ihe sec- 
 retary of state shall collccv <m<L pny into the State 
 treasury five dollars for filing each of aueh contracts 
 or der.if' rations find twtntj" cents y&r folio for recording 
 the Qn.rm . 
 
 Sec. 3, Tliis act shall not he held to invali- 
 date or affict in ar^- wa^; n.ny contract heretofore made 
 ©f the kind referi-ed to in section 1 hereof, end any 
 such contract heretofore ,&hd& aay, upon compliance 
 with the provisions of thi*i act, be recorded as herein 
 provided." 
 
49 
 
 NEVADA. 
 
 The Legislature meets biennially on the third Monday of Janu- 
 ary in the odd-numbered years. {Constitution, Art. IV, Sec. Z; 
 Cutting's Compiled Laws (,1900), p. 16.) 
 
 B705. Sec. 66. — No mortgage of personal property shall be valid 
 for any purpose against any other person than the parties thereto, 
 unless possession of the mortgaged property be delivered to, and re- 
 tained by, the mortgagee, or, unless the mortgage shall be recorded 
 in the office of the County Recorder of the county v^here the property 
 is situated, and also in the county where the mortgagor resides. A 
 mortgage upon personal property, including growing crops, exe- 
 cuted, acknowledged and recorded, shall be valid against all third 
 parties without such delivery of possession; Provided, that no 
 such mortgage shall be valid for any purpose as against other than 
 the parties thereto, unless there be appended or annexed thereto 
 the affidavits of the mortgagor and mortgagee, or some person in 
 their behalf, setting forth that the mortgage is made in good faith, 
 and given for a debt actually owing from the mortgagor, stating 
 the amount and character of such debt, and that the same is not 
 made to hinder, delay or defraud any creditor of the mortgagor. 
 * * * The several County Recorders of this State are hereby 
 authorized and directed to procure for their respective offices, at 
 the expense of the county, suitable books, properly indexed, for the 
 recording of all chattel mortgages, which books shall be plainly 
 labeled and marked "Records of Chattel Mortgages." All chattel 
 mortgages shall be recorded therein, and such books shall, at all 
 times, be open to the public for inspection, and the mortgages 
 therein recorded shall be canceled and discharged in the same man- 
 ner as mortgages on real property are canceled and discharged. 
 The recorder of the several counties shall receive for recording 
 chattel mortgages, indexing and releasing the same, the same fees 
 as are allowed them for mortgages on real estate; provided, that no 
 chattel mortgage shall be given or be valid for a less sum than 
 one hundred dollars. 
 
 Cutting's Compiled Laws (1900), p. 571. 
 
50 
 
 NEW HAMPSHIEE. 
 
 The General Court meets biennially on the first Wednesday of 
 January in the odd-rmimbered years. (Constitution, Part II, Art. S; 
 Public Statutes (1901), p. 82.) 
 
 1898, Ch. 25. Sec. 1. — That in any contract for the sale of rail- 
 road or street railway equipment or rolling stock, it shall be lawful 
 to agree that the title to the property sold or contracted to be sold, 
 although possession thereof may be delivered immediately, or at 
 any time or times subsequently, shall not vest in the purchaser until 
 the purchase price shall be fully paid, or that the seller shall have 
 and retain a lien thereon for the unpaid purchase money. And in 
 any contract for the leasing or hiring of such property, it shall be 
 lawful to stipulate for a conditional sale thereof at the termination 
 of such contract, and that the rentals or amounts to be received 
 under such contract may, as paid, be applied and treated as pur- 
 chase money, and the title to the property shall not vest in the 
 lessee or bailee until the purchase price shall have been paid in full, 
 and until the terms of the contract shall have been fully performed, 
 notwithstanding delivery to and possession by such lessee or bailee; 
 provided, that no such contract shall be valid as against any subse- 
 quent judgment creditor, or any subsequent bona fide purchaser 
 for value and without notice, unless, — 
 
 I. The same shall be evidenced by an instrument executed by 
 the parties, and duly acknowledged by the vendee, or lessee, or 
 bailee, as the case may be, or duly proved, before some person author- 
 ized by law to take acknowledgment of deeds, and in the same man- 
 ner as deeds are acknowledged or proved; 
 
 II. Such instrument shall be filed for record in the office of the 
 secretary of state; 
 
 III. Each locomotive engine, or car so sold, leased, or hired, 
 or contracted to be sold, leased or hired, as aforesaid, shall have the 
 name of the vendor, lessor, or bailor plainly marked on each side 
 thereof, followed by the word owner, or lessor, or bailor, as the case 
 may be. 
 
 1898, Chap. 26, Sec. 2. — The contracts herein authorized shall 
 be recorded by the secretary of state in a book of records to be kept 
 for that purpose. And on payment in full of the purchase money, 
 and the performance of the terms and conditions stipulated in any 
 
51 
 
 such contract, a declaration in writing to that effect may be made by 
 the vendor, lessor, or bailor, or his or its assignee, which declaration 
 may be made on the margin of the record of the contract, duly at- 
 tested, or it may be made by a separate instrument, to be acknowl- 
 edged by the vendor, lessor, or bailor, or his or its assignee, and 
 recorded as aforesaid. And for such services the secretary of state 9haU CcUgct lOr 
 ab nll bo Gnt i ti t d iit i iiii n i» f i8ii n f (fiiiiB i dullnw foB itiem tiimiS'tmm Av i iai uaid thg vie o\ If « et(H6 
 a aa tinatn nnA ii Btt »faw>^»<aw«iUi4»«fe»atii>Mip»WB4"W» rfiJiij uJ ■ uiwi. ' duHa r \/S0 of 'Itvcnf y -h've 
 f i iiir i Ti i tiiti i no tvah d aa lajatian rm tha nrirgin oi tltu jb i i mJ i (<!j)cen1s b» t<V€ 
 
 Public Statutes (1901), p. 448. <^t'i^ viotdis. 
 
 Ch.S lows Qj t9J5. 
 
52 
 
 NEW JEESEY. 
 
 The General Assembly meets annually on the second Tuesday in 
 January {Constitution, Art. IV, Sec. 1, Par S; General Statutes 
 (1895), p. XXVII.) 
 
 80. Whenever any railroad or street railway equipment and 
 rolling stock shall hereafter be sold, leased or loaned on condition 
 that the title to the same shall remain in the vendor, lessor or 
 bailor until the terms of the contract as to the payment of install- 
 ments or rentals or the performance of other obligations thereunder 
 shall have been complied with, and when possession of such' prop- 
 erty shall have been delivered under such contract, such condition 
 shall not be valid as to any subsequent judgment creditor or any 
 subsequent purchaser for a valuable consideration without notice, 
 unless the same shall be evidenced by writing, duly acknowledged, 
 in the same manner as conveyances of land and which writing shall 
 be recorded in the office of the secretary of state when the vendee, 
 lessee or bailee is a corporation operating its road in more than a 
 single county, and where such line is operated in a single county, 
 then in the office of the recorder of deeds of such county as a mort- 
 gage on goods and chattels and unless each locomotive or car shall 
 have the name of the vendor, lessor or bailor or his assignee plainly 
 marked upon both sides thereof, followed by the word "owner, 
 lessor, bailor," or "assignee," as the case may be; and the pro- 
 visions of the act entitled "An act requiring contracts for the con- 
 ditional sale of personal property to be recorded," approved on the 
 ninth day of May, one thousand eight hundred and eighty-nine, 
 shall not apply to the conditional sales of equipment and rolling 
 stock provided for in this section. 
 Laws 1903, p. 686. 
 
53 
 
 NEW MEXICO. 
 
 Not admitted as a State at the time of publication. 
 
 § 8919. Whenever any railroad equipment and railroad stock 
 shall hereafter be sold, leased or loaned, on the condition that the 
 title to the same by the vendee, lessee or bailee, shall remain in the 
 vendor, lessor or bailor, until the terms of the contract as to the 
 payment of the installments, amounts or rentals payable, or the 
 performance of other obligations thereunder shall have been fully 
 complied with, such contract shall be invalid as to any subsequent 
 judgment creditor or any subsequent purchaser for a valuable con- 
 sideration without notice, unless: 
 
 First. The same shall be evidenced by writing duly acknowl- 
 edged before some person authorized by law to take acknowledgment 
 of deeds. 
 
 Second. Such writing shall be recorded in the same book as 
 mortgages are recorded in the office of the recorder of deeds of the 
 county in which is located the principal office or place of business 
 of such vendee, lessee or bailee within the territory. 
 
 Third. Each locomotive or car so sold, leased or loaned, shall 
 have the name of the vendor, lessor or bailor, plainly marked upon 
 both sides thereof, followed by the words, Owner, Lessor, Bailor, 
 or. Assignee, as the case may be (Laws 1884, p. 73). 
 Compiled Laws (1897), p. 969. 
 
54 
 
 NEW TOEK 
 
 The Legislature meets annually on the first Wednesday in Jan- 
 ua/ry. {Constitution, Art. 10, § 6; Birdseye's Revised Statutes 
 (1901), p. 694.) 
 
 61. Conditional sale of railroad equipment and rolling stock. 
 — Whenever any railroad equipment and rolling stock is sold, 
 leased or loaned under a contract which provides that the title to 
 such property, notwithstanding the use and possession thereof by 
 the vendee, lessee or bailee, shall remain in the vendor, lessor or 
 bailor, until the terms of the contract as to the payment of install- 
 ments, amounts or rentals payable, or the performance of other 
 obligations thereunder, are fully complied with and that title to 
 such property shall pass to the vendee, lessee or other bailee on full 
 payment therefor, such contract shall be invalid as to any subse- 
 quent judgment creditor of or purchaser from such vendee, lessee 
 or bailee for a valuable consideration, without notice, unless 
 
 1. Such contract is in writing, duly acknowledged and recorded 
 in the book in which real estate mortgages are recorded in the office 
 of the county clerk or register of the county in which is located the 
 principal office or place of business of such vendee, lessee or bailee; 
 and unless 
 
 2. Each locomotive or car so sold, leased or loaned, has the 
 name of the vendor, lessor or bailor, or of the assignee of such 
 vendor, lessor or bailor, plainly marked upon both sides thereof, 
 followed by the word owner, lessor, bailor or assignee, as the case 
 may be. 
 
 Vol. IV, Consolidated Laws, Personal Property Law, 
 p. 2854. 
 
55 
 
 NOETH CAROLESTA. 
 
 The General Assembly meets hiennially on the first Wednesday 
 after the first Monday of January in the odd-numbered years. {Con- 
 stitution, Art. II, Sec. 2; Revisal of 1906, Vol. 2, p. 60Jf.) 
 
 98Jf. Conditional sales of railroad property. — Whenever any 
 railroad equipment and rolling stock shall hereafter be sold, 
 leased or loaned on the condition that the title to the same, 
 notwithstanding the possession and use of the same by the 
 vendee, lessee, or bailee, shall remain in the vendor, lessor or bailor 
 until the terms of the contract, as to the payment of the instal- 
 ments, amounts or rentals payable, or the performance of other 
 obligations thereunder, shall have been fully complied with; such 
 contract shall be invalid as to any subsequent judgment creditor, 
 or any subsequent purchaser for a valuable consideration without 
 notice unless — 
 
 (1) The same shall be evidenced by writing duly acknowledged 
 before some person authorized to take acknowledgments of deeds. 
 
 (2) Such writing shall be registered as mortgages are regis- 
 tered in the office of the register of deeds in at least one county in 
 which such vendee, lessee or bailee does business. 
 
 (3) Each locomotive or car so sold, leased or loaned shall have 
 the name of the vendor, lessor, or bailor, or the assignee of such 
 vendor, lessor or bailor plainly marked upon both sides thereof, 
 followed by the word owner, lessor, bailor or assignee, as the case 
 may be. 
 
 Eevisal of 1908, Vol. 1, p. 531. 
 
56 
 
 NOETH DAKOTA. 
 
 The Legislative Assembly meets hiennially on the first Tuesday 
 after the first Monday in the odd-numhered years. {Constitution, 
 Art. Sj § S3; Revised Codes (1905), p. Ivii.) 
 
 Conditional sale valid. — In all cases where railroad 
 equipment and rolling stock may have been or shall be sold to any 
 person, firm or corporation to be paid for in whole or in part in 
 installments, or shall be leased, rented, hired or delivered on con- 
 dition that the same may be used by the person, firm or corporation 
 purchasing, leasing, renting, hiring or receiving the same, and that 
 the title to the same shall remain in the vendor, lessor, renter, 
 hirer or deliverer of the same until the price agreed upon or rent 
 for such property shall have been fully paid, such condition in 
 regard to the title so remaining in the vendor, lessor, renter, hirer 
 or deliverer until such payments are fully made shall be valid for 
 all intents and purposes as to subsequent purchasers in good faith 
 and creditors ; provided, that the term during which the installments 
 or rents are to be paid shall not exceed ten years and such contract 
 shall be in writing and acknowledged. 
 
 § 4^79. Where recorded. Cars, etc., how marked. — Such con- 
 tract shall be recorded in the office of the secretary of state and on 
 each locomotive or car that may have been or may be sold or 
 leased the name of the vendor, or lessor, or assignee of the vendor 
 or lessor shall be marked in a conspicuous place, followed by the 
 word, "owner" or "lessor," as the case may be. 
 Eevised Codes (1905), p. 703. 
 
57 
 
 OHIO. 
 
 The General Assembly meets biennially on the first Monday of 
 January in the even-numhered years. (Constitution, Art. II, Sec. 
 25; Bates' Ann. Ohio Statutes {1902), Vol. 3, p. 8702.) 
 
 Sec. 9060. Certain contracts of sale void unless recorded. — 
 No contract of, or for the sale of railroad equipment, rolling 
 stock, or other personal property to be used in or about the 
 operation of a railroad, by the terms of which the purchase 
 money, in whole or part, is to be paid in the future, and 
 wherein it is stipulated or conditioned that the title to the 
 property sold shall not vest in the vendee, but shall remain in 
 the vendor until the purchase money has been fully paid, shall 
 be valid against creditors or innocent purchasers for value, unless 
 recorded or a copy thereof filed in the office of the secretary of state. 
 When the contract is so recorded, or a copy thereof so filed, the 
 title to the property sold, or contracted to be sold, shall not vest 
 in the vendee, but shall remain in the vendor until the purchase 
 money has been fully paid, and such stipulation or condition shall 
 be and remain valid, nothwithstanding the delivery of the property 
 to, and its possession by the vendee. 
 
 Sec. 9061. Parties may provide for conditional sale in lease. — 
 In any written contract for the renting, leasing, or hiring of such 
 property to be so used, it shall be lawful to stipulate or provide 
 for a conditional sale of such property at the termination of such 
 renting, leasing, or hiring, and to stipulate or provide that the 
 rental reserved as paid, or when paid in full, shall be applied 
 and treated as purchase money. In such contract it shall be lawful 
 to stipulate or provide that the title to such property shall remain 
 in the lessor or vendor until the purchase money has been fully 
 paid, notwithstanding delivery to and possession by the other party; 
 subject, however, to the requirement as to recording or filing con- 
 tained in the next preceding section. 
 
 Sec. 9062. Secretary of state to file contracts. — The secretary 
 of state, when so requested, and upon being paid the proper fees, 
 shall record any such contract, and shall file in his office a copy 
 of any such contract when it is delivered to him for that purpose. 
 For every such copy so filed he shall be entitled to receive one 
 dollar. 
 
58 
 
 Sec. 9063. Construing application of preceding sections. — 
 The provisions of the three preceding sections shall extend and 
 apply, not only to contracts made with a railroad company, as 
 vendee or lessee, but also to all contracts which may be made with 
 any corporation, company, or person, as vendee or lessee, by which 
 such corporation, company, or person undertakes to purchase, 
 rent, lease, or hire railroad equipment, cars, rolling stock, or other 
 personal property, designed for use on, or in connection with, a 
 railroad or railroads in this or other states. 
 
 The General Code of Ohio (1910), Vol. 3, p. 1920. 
 
59 
 
 OKLAHOMA. 
 
 The Legislative Assembly meets hiennially on the second Tues- 
 day of January in the odd-numbered years. (^Wilson's Revised Stat- 
 utes {1908), § 3356, p. 832.) 
 
 {lOZJf) § 95. In all cases where railroad equipment and rolling 
 stock may have been or shall be sold to any person, firm or cor- 
 poration, to be paid for in whole or in part in installments, or shall 
 be leased, rented, hired or delivered, on condition that the same 
 may be used by the person, firm or corporation purchasing, leasing, 
 renting, hiring or receiving the same, and that the title to the same 
 shall remain in the vendor, lessor, renter, hirer, or deliverer of the 
 same until the agreed upon price of or rent for such property shall 
 have been fully paid, such condition in regard to the title so re- 
 maining in the vendor, lessor, renter, hirer or deliverer until such 
 payments are fully made, shall be valid for all intents and pur- 
 poses as to subsequent purchasers in good faith and creditors : 
 Provided, The term during which the installments or rent are to be 
 paid shall not exceed ten years, and such contract shall be in writ- 
 ing and acknowledged. 
 
 (,1026) § 96. Such contract shall be recorded in the office of 
 the secretary of the territory and in the county in which is located 
 the principal office or place of business of such vendee or lessee, 
 and on each locomotive or ear that may have been or may be so 
 sold or leased, the name of the vendor or lessor or assignee of the 
 vendor or lessor shall be marked, followed by the word "owner" or 
 "lessor," as the case may be. 
 
 Wilson's Eevised Statutes (1903), Vol. I, p. 359. 
 
 Sec. 7913. Title to remain in lessor or vendor until contract 
 complied with. — In any contract for the sale of railroad or street 
 railway equipment or rolling stock, it shall be lawful to agree that 
 the title to the property sold or contracted to be sold, although pos- 
 session thereof may be delivered immediately or at any time or 
 times subsequently, shall not vest in the purchaser until the pur- 
 chase price shall be fully paid, or that the seller shall have and re- 
 tain a lien thereon for the purchase money. And in any contract 
 for the leasing or hiring of such property, it shall be lavtrful to 
 stipulate for a conditional sale thereof at the termination of such 
 contract, and that the rentals or amounts to be received under such 
 
60 
 
 contract may, as paid, be applied and treated as purchase money 
 and that the title to the property shall not vest in the lessee or 
 bailee until the purchase money shall have been paid in full and 
 until the terms of the contract shall have been fully performed, 
 notwithstanding delivery to and possession by such lessee or bailee; 
 Provided, That such contract shall be valid as against any subse- 
 quent hona fide purchaser for value and without notice, unless, 
 First, The contract shall be evidenced by an instrument executed 
 by the parties and duly acknowledged by the vendee or lessee or 
 bailee as the case may be, or duly proved before some person author- 
 ized by law to take acknowledgments of deeds and in the same 
 manner as deeds are acknowledged or proved; such instrument 
 shall be filed for record in the office of the secretary of the 
 state. Second, Each locomotive engine or car so sold, leased or 
 hired or contracted to be sold, leased or hired as aforesaid shall 
 have the name of the vendor, lessor or bailor plainly marked on 
 each side thereof, followed by the word "owner" or "lessor" or 
 "bailor" as the case may be. 
 
 8ec. 79H. Such contract shall he recorded iy the Secretary of 
 State — How released. — The contracts herein authorized shall be re- 
 corded by the Secretary of the State in a book of records to be kept 
 for that purpose. And on payment of the full purchase money and 
 the performance of the terms and conditions stipulated in any such 
 contract a declaration in writing to that effect may be made by the 
 vendor, or lessor or bailor or his or its assignee, which declaration 
 may be made on the margin of the record of the contract duly at- 
 tested, or it may be made by a separate instrument to be acknowl- 
 edged by the vendor, lessor or bailor or his or its assignee, and re- 
 corded as aforesaid. And for such services the Secretary of the 
 State shall be entitled to a fee of two dollars for recording each 
 of said contracts and each of said declarations and a fee of one 
 dollar for noting such declaration on the margin of the record. 
 
 Compiled Laws of Oklahoma (Snyder)_^(1909), j). 1595. . 
 
contract may, as paid, be applied and treated aa purchase money 
 and that the title to the property shall not vest in the lessee or 
 bailee until the purchase money shall have been paid in full and 
 until the terms of the contract shall have been fully performed, 
 notwithstanding delivery to and possession by such lessee or bailee; 
 Frov^ded, That such contract shall be valid as against any subse- 
 quent l^ia fide purchaser for value and without notice, unless, 
 ^irst The contract shall be evidenced by an instrument executed 
 by the parties and duly acknowledged by the vendee or lessee or 
 bailee as the case may be, or duly proved before some person author- 
 ized by law to take acknowledgments of deeds and in the same 
 manner as deeds are acknowledged or proved; such instrument 
 shall be filed for record in the office of the secretary of the 
 state Second, Each locomotive engine or car so sold, leased or 
 hired or contracted to be sold, leased or hired -as aforesaid shall 
 have the name of the vendor, lessor or bailor plainly marked on 
 each side thereof, followed by the word "owner" or "lessor" or 
 bailor" as the case may be. 
 
 Sec.79U. Such contract shall he recorded hy the Secretary of 
 State-How relea^ed.~The contracts herein authorized shall be re- 
 corded by the Secretaiy of the State in a book of records to be kept 
 for that purpose. And on payment of the full purchase money and 
 the performance of the terms and conditions stipulated in any such 
 contract a declaration in writing to that effect may be made by the 
 vendor, or lessor or bailor or his or its assignee, which declaration 
 may be made on the margin of the record of the contract duly at- 
 tested, or It may be made by a separate instrument to be acknowl- 
 edged by the vendor, lessor or bailor or his or its assignee, and re- 
 corded as aforesaid And for sucli services the Secretary of the 
 State shall be entitled to a fee of two dollars for recording each 
 of said contracts and each of said declarations and a fee of one 
 dollar lor noting such declaration on the margin of the record. 
 
 Compiled Laws of Oklahoma (Snyder) (1909). n. 1595 
 
 iSiMl' Vendor's Hen on equipment. In any "^ 
 
 contract for the a.ale of railroad or street railway 
 equip'tient or rolling stock, it shall he lattfiil to 
 •agree that the title to the property aold or con- 
 'ractc'd to be sold, ultheui?h pr>at>esaion thereof may 
 be delivered iwriediately or at any time or times 
 subsequently, shall not vest in the purchaser until 
 the purchat,e price shall be fully paid, or that the 
 seller shall have and retrain a li?:n therwon for the 
 rurchsfje TBoney. And. in an: contract for the leasing 
 or hirlnr: of such property, it shall he lawful to 
 stipulate for a ccndition'.l sale thereof at the ter- 
 mination of such contract, and that the rentals or 
 anmjnts to he received under such contract laay, as 
 paid, to applied fmd treated as purchase money, nnd 
 Vtia.t the tltl-^ to the property shall not veat in the 
 lesa^e or bailee until the purchase laoney shall hp\'«- 
 [been paid in full and until the ter-^s of the contract 
 ishall hare been fully F'-^rfornied, not'Uthstending de- 
 livery to and po&session by such lessee or bailee. 
 Provided, that euch contract shall not be valid as 
 ^agsinsst any subsequent bona fide purchaser for value 
 iand v^'ithout notice, unlese the contract ahall be 
 ievldttnced lay an instruar^nt executed by the purties and 
 [duly acifnorledged by the vf^ndee or lessee or bailee 
 gas the case m«y be, or duly proved before some person I 
 jauthcrlred by lais to talte acknov'ledgF?-nts of deeds ' 
 |and in the Bime aannar as deeds f?re "a ckn owl ede-ed or ' 
 jproved, hnd filed for record in the office of 'the 
 isecretarjr of st&te, or unless each locomotive engine ! 
 |0r car sc sold, leased or hired or contracted to be 
 f&oio, leased or hired as afore&aid shell h-ve the 
 pame cf the vendor, lessor or bailor plgtinly marked 
 ^on each side thereof, folloi^d by the rord -o^ner* i 
 
 I or "lessor" or "bailor" a^ the case nay be. 
 
 X392, Maimer of recording contract ■» feea. The 
 ^contracts herein awthoriaed sh&ll be "recorded by the 
 secretary of state in a book of records to be kept for 
 that purpose. And on pa^^ent of the full purchaae money 
 and the performance of the tex-im and conditions stipu- 
 lated in any such contract a declaration in writing to 
 that effect may be made by the vendor, or leeeor or 
 bailor or hie or its afisignee, which declaration may- 
 be isade on the margin of the record of the contract duly 
 attested, or it mia;y he aade hj a separate instrtaaent to 
 he acknowledged by the vendor, leesor or bailor or his 
 or its aeeignee, and recorded as aforesaid. And for 
 such servicee the secretary of the state shall be en- 
 titled to a fee of two dollars for recording each of 
 said contracts -xnd each of eaid declarations and a f ee cA 
 one dollar for noting such declaration on the irtargin of 
 the record. 
 
 Chapter 15, Article XIII, Revised Laws of 
 Oklahoma, Annotated (1910) Voliflae I, 'i». 3k(X« 
 
61 
 
 OEEGON. 
 
 The Legislature meets biennially on the second Monday of Jan- 
 uary in the odd-numhered years. (Bellinger & Cottons Ann. Code 
 {1902), Vol. II, § 2371.) 
 
 ^fC ^vISTj Title to Rolling Stock, when does not vest in Purchaser. 
 — In any contract of or for the sale of railroad equipment or roll- 
 ing stock, it shall be lawful to agree that the title to the property- 
 sold or contracted to be sold, although deliverable immediately, or 
 at any time or times subsequently, shall not vest in the purchaser 
 until the purchase price shall be fully paid, or that the seller shall 
 have and retain a lien thereon for the unpaid purchase money; and 
 in any contract of or for the leasing of such property, it shall be 
 lawful to stipulate for a conditional sale thereof at the termination 
 of such lease, and that the rentals, received may, as paid, be applied 
 and treated as purchase money, and that the title to the property 
 shall not vest in the lessee or vendee until the purchase price shall 
 be paid in full, notwithstanding delivery to and possession by such 
 lessee or vendee: Provided, that no such contract shall be valid 
 as against any subsequent judgment creditor, or any subsequent 
 bona fide purchaser for value and without notice, unless, — 
 
 1. The same shall be evidenced by an instrument duly ac- 
 knowledged before some person authorized by law to take acknowl- 
 edgment of deeds; 
 
 2. Such instrument shall be filed for record in the office of the 
 county clerk of the county in which at the time of the execution 
 thereof is situated the principal office of the vendee or lessee within 
 this state; 
 
 3. Each locomotive, engine, or car so sold, or constructed* to 
 be sold, or leased as aforesaid, shall have the name of the vendor or 
 lessor plainly marked on each side thereof, followed by the word 
 "owner" or "lessor," as the case may be. 
 
 fc97J §(5iS5.) Contracts authorized by last section to be recorded. — ■ 
 The contracts herein authorized shall be recorded by the said 
 county clerk in the book of records of mortgages of real estate in 
 said county; and on payment in full of the purchase money, and 
 the performance of the terms and conditions stipulated in any such 
 
 *Sic. 
 
62 
 
 contract, a declaration in writing to that effect shall be made 
 by the vendor or his assignee, which declaration may be made on 
 the margin of the record of the contract, attested by the county 
 clerk, or it may be made by a separate instrument, to be acknowl- 
 edged and recorded as aforesaid ; and for such services the said clerk 
 shall be entitled to the fees provided by law for the recording of 
 deeds and mortgages of real estate. 
 
 Bellinger & Cotton's Ann. Code (1902), Vol. II, p. 
 1655. 
 
 Lord's Oregon Laws(toio), Vol.3, ^,ZSO'J. 
 
63 
 
 PENNSYLVANIA. 
 
 The General Assembly meets iiennially on the first Tuesday of 
 January in the odd-numbered years. {Constitution, Art. II, Sect. 
 4; Brightly s Purdon's Digest (1894), Vol. I, p. SO, § SI.) 
 
 26Jf. Whenever any railroad equipment and rolling stock shall 
 hereafter be sold, leased or loaned, on the condition that the title 
 to the same, notwithstanding the possession and use of the same 
 by the vendee, lessee or bailee, shall remain in the vendor, lessor 
 or bailor, until the terms of the contract, as to the payment of the 
 instalments, amounts or rentals payable, or the performance of other 
 obligations thereunder, shall have been fully complied with, such 
 contract shall be invalid as to any subsequent judgment creditor, 
 or any subsequent purchaser for a valuable consideration without 
 notice, unless: 
 
 I. The same shall be evidenced by writing duly acknowledged 
 before some person authorized by law to take acknowledgments of 
 deeds. 
 
 II. Such writing shall be recorded in the same book as mort- 
 gages are recorded, in the office of the recorder of deeds of the 
 county in which is located the principal office or place of busi- 
 ness of such vendee, lessee or bailee, within the state. 
 
 III. Each locomotive or car so sold, leased or loaned, shall 
 have the name of the vendor, lessor or bailor, or the assignee of 
 such vendor, lessor or bailor, plainly marked upon both sides thereof, 
 followed by the word owner, lessor, bailor or assignee, as the case 
 may be. 
 
 Brightly's Purdon's Digest (1910), Vol. IV, p. 3917. 
 
64 
 
 EHODE ISLAJSTD. 
 
 The General Assembly meets annually on the first Tuesday in 
 January. {Constitution Amendment, Art. XI, Sec. 1; Revised 
 Statutes (1909), p. 39.) 
 
 Sec. 63. In any contract for the sale of railroad or street rail- 
 way equipment or rolling stock, it shall be lawful to agree that the 
 title to the property sold, or contracted to be sold, although pos- 
 session thereof may be delivered immediately or at any time or 
 times subsequently, shall not vest in the purchaser until the pur- 
 chase price shall be fully paid, or that the seller shall have and 
 retain a lien thereon for the unpaid purchase money. And in any 
 contract for the leasing or hiring of such property, it shall be lawful 
 to stipulate for a conditional sale thereof at the termination of such 
 contract, and that the rentals or amounts to be received under such 
 contract may, as paid, be applied and treated as purchase money, 
 and that the title to the property shall not vest in the lessee or 
 bailee until the purchase price shall have been paid in full and 
 until the terms of the contract shall have been fully performed, not- 
 withstanding delivery to and possession by such lessee or bailee : 
 Provided, That no such contract shall be valid as against any sub- 
 sequent judgment creditor, or any subsequent hona fide purchaser 
 for value and without notice, unless: 
 
 First. The same shall be evidenced by an instrument executed 
 by the parties and duly acknowledged by the vendee or lessee or 
 bailee, as the case may be, or duly proved, before some person au- 
 thorized by law to take acknowledgment of deeds, and in the same 
 manner as deeds are acknowledged or proved; 
 
 Second. Such instrument shall be filed for record in the office 
 of the secretary of state; 
 
 Third. Each locomotive engine or car so sold, leased or hired, 
 or contracted to be sold, leased or hired, as aforesaid, shall have 
 the name of the vendor, lessor, or bailor plainly marked on each 
 side thereof, followed by the word "Owner," or "Lessor," or "Bailor," 
 as the ease may be. 
 
 Sec. 6Jf. The contracts herein authorized shall be recorded by 
 the secretary of state in a book of records to be kept for that pur- 
 pose. And on payment in full of the purchase money, and the per- 
 
65 
 
 formance of the terms and conditions stipulated in any such con- 
 tract, a declaration in writing to that effect may be made by the 
 vendor, lessor or bailor, or his or its assignee, which declaration 
 may be made on the margin of the record of the contract, duly 
 attested, or it may be made by a separate instrument, to be ac- 
 knowledged by the vendor, lessor or bailor, or his or its assignee, 
 and recorded as aforesaid. And for such services the secretary of 
 state shall be entitled to demand and retain for the use of the 
 state the sum of fifteen cents for each one hundred words re- 
 corded, for recording each of said contracts and each of said declara- 
 tions, and a fee of fifty cents for noting such declaration on the 
 margin of the record. 
 
 Eevised Statutes (1909), p. 738. 
 
66 
 
 SOUTH OAEOLDSTA. 
 
 The General Assembly meets annually on the second Tuesday of 
 January in the odd-numhered years. (Constitution, Art. Ill, Sec. 9; 
 Code {1902), Vol. 2, Appendix, p. 60.) 
 
 Sec. 6SJf. All deeds of conveyance of railroad beds, tracks and 
 right of way, cars, locomotive engines, rolling stock and other rail- 
 way equipment, all leases or mortgages or other conditional sales 
 cf, and all other instruments in writing relating to, such property 
 in this State, delivered or executed on or after the first day of Jan- 
 uary, 1894, shall be valid, so as to afiect from the time of such de- 
 livery or execution the rights of subsequent creditors or pur- 
 chasers for valuable consideration without notice, only when re- 
 corded within forty days from the execution and delivery thereof 
 in the office of the Secretary of State: Provided, nevertheless. That 
 the above mentioned deeds, leases, mortgages and other condi- 
 tional sales and instruments in writing, if recorded subsequent to 
 the expiration of said period of forty days, shall be valid to affect 
 the rights of subsequent creditors and purchasers for valuable con- 
 sideration without notice only from the date of such record. 
 
 Each and every locomotive engine, car and other railway equip- 
 ment shall have the name of the vendor, lessor, bailor or mortgagor 
 plainly marked on each side thereof, followed by the word "owner," 
 "lessor," "bailor" or "mortgagor," as the case may be; and each 
 deed of conveyance, lease, conditional sale and mortgage of such 
 railroad property shall contain such a description thereof as will 
 correspond to the name so marked thereon. 
 
 Sec. 6S6. Before such deeds, leases, mortgages and other in- 
 struments in writing can be recorded by the secretary of state, the 
 execution thereof shall first be proved by the affidavit in writing 
 of a subscribing witness to such instrument, in the same manner 
 prescribed for the probate of deeds by Section 948 of this Code in 
 relation to the recording of deeds in the office of Register of Hesne 
 Conveyances of the several Counties of this State. 
 
 Sec. 6S6. Said conveyances, leases and mortgages and other in- 
 struments in writing shall be recorded by the Secretary of State 
 in books to be kept by law for that purpose in his office, and for 
 such recording he shall receive from the party ofEering such papers 
 for record the same fees allowed by law for similar work to Register 
 of Mesne Conveyances. 
 
67 
 
 A certificate or certified copy by the Secretary of State shall 
 be competent evidence of such record and of the facts contained in 
 each deed, lease and mortgage or other instrument in writing so 
 recorded and certified in all of the Courts of this State. 
 
 Where any such mortgage so recorded shall be fully satisfied, 
 the mortgagee shall note the same on the margin of the record, or 
 declare the same to be satisfied in a separate instrument in writing, 
 to be recorded as above provided, under a penalty of five hundred 
 dollars, to be recovered in any Court of competent jurisdiction at 
 the suit of the mortgagor or his assignees, or any other party ag- 
 grieved thereby. 
 
 Code (1902), Vol. I, p. 265. 
 
 Code 09l^), Vol.1, p.^33. 
 
68 
 
 SOUTH DAKOTA. 
 
 The Legislature meets biennially on the first Tuesday after the 
 first Monday of January in the odd-numbered years. (Constitution, 
 Art. Ill, § 11; Compiled Laws of South Dakota (1908), Vol. I, p. 4) 
 
 Jf90. In all cases where railroad equipment and rolling stock 
 may have been or shall be sold to any person, firm, or cor- 
 poration, to paid for in whole or in part in installments, 
 or shall be leased, rented, hired or delivered, on condition 
 that the same may be. used by the person, firm or corpora- 
 tion purchasing, leasing, renting, hiring or receiving the same, 
 and that the title to the same shall remain in the vendor, 
 lessor, renter, hirer or deliverer of the same until the agreed 
 upon price of or rent for such property shall have been fully paid, 
 such condition in regard to the title so remaining in the vendor, 
 lessor, renter, hirer or deliverer until such payments are fully made, 
 shall be valid for all intents and purposes as to subsequent pur- 
 chasers in good faith and creditors; provided, the term during 
 which the installments or rent are to be paid shall not exceed ten 
 years, and such contract shall be in writing and acknowledged. 
 
 491. Such contract shall be recorded in the office of the secre- 
 tary of the state and in the county in which is located the principal 
 office or place of business of such vendee or lessee, and on each 
 locomotive or car that may have been or may be sold or leased, the 
 name of the vendor or lessor or assignee of the vendor or lessor 
 shall be marked, followed by the word "owner" or "lessor," as the 
 case may be. 
 
 Compiled Laws of South Dakota (1908), Civil Code, 
 Vol. 2, p. 59. 
 
 (bmijtied taws 4 South Oci)(o1« (i9t3)jC»vi'i Cede 
 
TENNESSEE. 
 
 The Legislature meets hiennially on the first Monday of Janu- 
 ary in the odd-numhered years. {Constitution, Art. II, Sec. 8; Shan- 
 non's Code of Tennessee (1898), p. 53.) 
 
 Sec. 1. That all railway cars used in this state, but belonging to 
 a person, firm, corporation or company, having a residence or situs 
 outside of this state, are and shall be subject to taxation under 
 the provisions of chapter 5 of the acts of 1897, and on further pro- 
 vision of this act; Provided, this act shall not apply to passenger 
 cars, nor to cars owned by persons, firms, companies or corpora- 
 tions operating lines of railways. 
 
 Sec. S. That it shall be the duty of the owners of any railroad in 
 this state, when filing the schedule provided by section 2 of said 
 act of 1897, to file also, as a part of such schedule, a sworn state- 
 ment of the average number of cars, if any, used on the road 
 or roads of such owner vidthin this state, but owned by a person, 
 firm, company or corporation, having a residence or situs outside of 
 this state. 
 
 Said statement shall also show the name or names of the owner 
 or owners of the cars returned in said sworn statement, the place 
 or places of residence of such owner or owners, and the value of the 
 average number of said cars. 
 
 Sec. 5. That it shall be the duty of said assessors to assess said 
 average number of cars to the owner or owners thereof at their value 
 on or before the first Monday in August, 1901, and biennially there- 
 after, so long as the ovmer or owners shall use such cars in this state. 
 
 Sec. 10. That the taxes so assessed in behalf of the state and 
 counties shall be a first lien upon the property from the 10th of 
 January of the year for which the taxes are assessed, and they shall 
 be due and delinquent as all other ad valorem taxes. 
 Laws of Tennessee (1901), Ch. 48, p. 71. 
 
 3587. Lien retained hy vendor. — In any written contract of or 
 for the sale of the railroad equipments or rolling stock, deliverable 
 immediately or subsequently, at stipulated periods, by the terms of 
 which the purchase money, in whole or in part, is to be paid in the 
 future, it may be agreed that the title to the property so sold or con- 
 tracted to be sold shall not pass to or vest in the vendee until the 
 
70 
 
 purchase money shall have been fully paid, or that the vendor shall 
 have and retain a lien thereon for the unpaid purchase money, not- 
 withstanding delivery thereof to and possession by the vendee; 
 provided, that the terms of credit for the payment of the purchase 
 money shall not exceed fifteen years from the execution of the con- 
 tract. 
 
 Laws of Tennessee (1903), ch. 199, p. 441. 
 
 3688. Conditional Sale. — In any written contract for the leasing 
 or renting of railroad equipments or rolling stock, it shall be lawful 
 to stipulate for a conditional sale thereof at the termination of 
 such lease, and to stipulate that the rentals received may, as paid 
 or when paid in full, be applied and treated as purchase money, 
 and that the title to such property shall not vest in such lessee or 
 vendee until the purchase money shall have been paid in full, not- 
 withstanding delivery to and possession by such lessee or vendee, 
 subject, however, to the proviso contained in section 358Y. 
 
 3589. Contracts to he prohated and registered. — Every such con- 
 tract specified in sections 3587 and 3588 shall be good, valid, and 
 effectual, both in law and equity, against all purchasers and cred- 
 itors; Provided, First, the same shall be acknowledged by the ven- 
 dee or lessee before some officer authorized by law to take acknowl- 
 edgments of deeds in the form required as to conveyance of real 
 estate; second, such instrument shall be registered in the office of 
 the register of the county in which, at the time of the execution 
 thereof, is situated the principal office of the vendee or lessee in 
 this state, and in the office of the secretary of state; third, each 
 locomotive engine or car so sold or contracted to be sold or leased as 
 aforesaid, shall have the name of the vendor or lessor, or the assig- 
 nee of such vendor or lessor, plainly placed or marked on each side 
 thereof, or be otherwise marked so as to indicate the ownership 
 thereof. 
 
 Shannon's Code of Tennessee (1896), p. 839. 
 
71 
 
 TEXAS. 
 
 The Legislature meets hiennially on the second Tuesday in Jan- 
 uary in the odd-numhered years. (Sayle's Texas Civil Statutes, Vol. 
 II, Art. 3271.) 
 
 i^g4t ^rt.[jG.i;iJffgt^ Title to Chattels; Railroad property.— 'Every 
 deed, mortgage, or other writing respecting the title of personal 
 property hereafter executed, which by law, ought to be recorded, 
 shall be recorded in the clerk's office of the county court of that 
 county in which the property shall remain; and if afterwards the 
 person claiming title under such deed, mortgage or other writing 
 shall permit any other person in whose possession such property 
 may be to remove with the same or any part thereof out of the 
 county in which the same shall be recorded, and shall not, within 
 four months after such removal, cause the same to be recorded in 
 the county to which such property shall be removed, such deed, 
 mortgage, or other writing, for so long as it shall not be recorded in 
 such last mentioned county, and for so much of the property afore- 
 said as shall have been removed, shall be void as to all creditors and 
 purchasers thereof for valuable consideration without notice; pro- 
 vided, that written contracts for the conditional sale, lease, or hire 
 of railroad rolling-stock and equipments by which the purchase- 
 money is therein agreed to be paid at any time or times after the 
 date of such contract, with a reservation of title or lien in the ven- 
 dor, lessor or bailor until the same has been fully paid shall be re- 
 corded in the office of the secretary of state in a book of records to 
 be kept by him for that purpose, and on payment in full of the 
 purchase-money and the performance of the terms and conditions 
 stipulated in any such contract a declaration in writing to that 
 effect may be made by the vendor, lessor or bailor, or his or its 
 assignee, which declaration may be made on the margin of the 
 record of the contract, duly attested, or it may be made by a sep- 
 arate instrument to be acknowledged by the lessor, vendor, or bailor, 
 or his or its assignee, and recorded as aforesaid, and for such ser- 
 vices the secretary of state shall be entitled to a fee of five dollars 
 for recording each of said contracts, and each of said declarations, 
 and a fee of one dollar for entering such declaration on the mar- 
 gin of the record. 
 
 fi i i ii uli'i T i jHUU Ollll OlJlLllU i ., ¥ull II) pi lOOfl. i t 
 
 Revised Civil Sidnte^ dLlkxas(iS>0) 
 Pitf,$GSS^d7J^ ** " " '• •' 
 
 Art. 5655. (o528) All inutru^ienta intended to 
 operate as llena to bf- recorded . - E-^c-ry chattel nnrt- 
 (-:SLg^ , deed of truat, or ot.her inttrui-v^^t of writing, 
 intended to opera.te jap a morlpagc of or lien u?;cF-''V- r-- 
 aonfai PiO^J'^iPtyj *hiob ai all not ^>e ^ct^omy^stnirs^- "kry 'jiw 
 ^ia-nsciiate dejivery and be follov^ed by an aotuai'-Hng- ' 
 continued ch&nge of poByession of the projcrty nortgar-e! 
 or pledj-'ed 'by auch inytrunent, thall be aoaolutely roio. 
 as ar&infet +he creditors of the mortgagor or persons 
 r.SLXinr aamc, and as a?rainst su^'vsequent purchaeers and 
 ffiortgficjeeB or lien holders in good faith, unleBis Buch 
 instrument, or a trut, copy thereof, shall be forth\ ith 
 deposited with and filed in the office of the county 
 clerk of the county where the property shall then be 
 situated, or if the raortvjagor or person making the saj-at.? 
 he a resident of this» state, then, of the county of 
 which h2 shall at that ti^e be a resident; provided 
 that written contracts for the condition^il sale, lease, 
 or hire of railroad equipments and rollinc stock, by 
 *hich the pi^rchase money is therein agreed to be paid 
 at any time or timet after the date of such contract, 
 with a reservation of title or lien in the vendor, 
 lesBor or bailor until the aaiae haa been fully paid, 
 shall be recorded in the office of the secretary of 
 state, in a book of records to be kept by him for that 
 jpurpobe; and, on payment in full of the purchase money 
 jand the performance of the teras and conditions atipu- 
 jlated in any such contract, a declaration in writing 
 Ito that effect may be made by the vendor, lessor or 
 bailor, or his or' its assignee, which declaration may ; 
 Ibe taade on the margin of the record of the contract, ^ 
 Iduly attested, or it niay be made by a separate inetru- 
 |T!\ent to be acknowledged by the lessor, vendor or bailor., 
 lor hi 8 or its assignee, and recorded as aforesaid; and 
 for such services the secretary ef state shall be en- 
 titled to a fee of five dollara for recordin^^ each of 
 said contracts and each of said declarations; and a 
 fee of one dollar for enterinsr such declaration, on the 
 -narsin of the record. 
 
71 
 
 TEXAS. 
 
 The Legislature meets biennially on the second Tuesday in Jan- 
 uary in the odd-numhered years. (Sayle's Texas Civil Statutes, Vol. 
 II, Art. 8271.) 
 
 f^^f Art. ^6511 fff/tj^ Title to Chattels; Railroad property. — Every 
 deed, mortgage, or other writing respecting the title of personal 
 property hereafter executed, which by law, ought to be recorded, 
 shall be recorded in the clerk's office of the county court of that 
 county in which the property shall remain; and if afterwards the 
 person claiming title under such deed, mortgage or other writing 
 shall permit any other person in whose possession such property 
 may be to remove with the same or any part thereof out of the 
 county in which the same shall be recorded, and shall not, within 
 four months after such removal, cause the same to be recorded in 
 the county to which such property shall be removed, such deed, 
 mortgage, or other writing, for so long as it shall not be recorded in 
 such last mentioned county, and for so much of the property afore- 
 said as shall have been removed, shall be void as to all creditors and 
 purchasers thereof for valuable consideration without notice; pro- 
 vided, that written contracts for the conditional sale, lease, or hire 
 of railroad rolling-stock and equipments by which the purchase- 
 money is therein agreed to be paid at any time or times after the 
 date of such contract, with a reservation of title or lien in the ven- 
 dor, lessor or bailor until the same has been fully paid shall be re- 
 corded in the office of the secretary of state in a book of records to 
 be kept by him for that purpose, and on payment in full of the 
 purchase-money and the performance of the terms and conditions 
 stipulated in any such contract a declaration in writing to that 
 effect may be made by the vendor, lessor or bailor, or his or its 
 assignee, which declaration may be made on the margin of the 
 record of the contract, duly attested, or it may be made by a sep- 
 arate instrument to be acknowledged by the lessor, vendor, or bailor, 
 or his or its assignee, and recorded as aforesaid, and for such ser- 
 vices the secretary of state shall be entitled to a fee of five dollars 
 for recording each of said contracts, and each of said declarations, 
 and a fee of one dollar for entering such declaration on the mar- 
 gin of the record. 
 
 awuirfi iF.iiuu Ollll ' OUIUIU, ¥iih ii ll) iii p i . i MOB." . « 
 
 Revised Cwil 6id^te9 d.Te)u*s(0"; 
 Seealso Mfie^4&5X7l " " '' " " 
 
72 
 
 UTAK 
 
 The Legislature meets hiennially on the second Monday in Jan- 
 uary in the odd-numbered years. (Const., Art. VI, Sec. 2; Utah 
 
 Rev. Stat., p. ^g.) 
 
 ■'"■r 
 
 /\,C/l )t V Sec. 1^ Conditional Sale Railroad Equipment — Recording Con- 
 
 tract. — In any contract for the sale of railroad or street railway 
 equipment or rolling stock it shall be lawful to agree that title 
 to the property sold or contracted to be sold, although possession 
 thereof may be delivered immediately or at any time or times subse- 
 quently, shall not vest in the purchaser until the purchase price 
 shall be fully paid, or that the seller shall have a,nd retain a lien 
 thereon for the unpaid purchase money. And in any contract for 
 the leasing or hiring of such property it shall be lawful to stipulate 
 for a conditional sale thereof at the termination of such contract, 
 and that the rentals or amounts to be received under such con- 
 tract may, as paid, be applied and treated as purchase money, and 
 that the title to the property shall not vest in the lessee or bailee 
 until the purchase price shall have been paid in full, and until 
 the terms of the contract shall have been fully performed, not- 
 withstanding delivery to and possession by such lessee or bailee; 
 Provided, that no such contract shall be valid as against any sub- 
 sequent judgment creditor or any subsequent hona fide purchaser 
 for value and without notice, unless (1) the same shall be evidenced 
 by an instrument executed by the parties and duly acknowledged 
 by the vendee, lessee or bailee, as the case may be, or duly proved 
 before some person authorized by law to take acknowledgments 
 of deeds, and in the same manner as deeds are acknowledged or 
 proved; (2) such instrument shall be filed for record in the office 
 of the Secretary of State of this state; (3) each locomotive engine 
 or car so sold, leased or hired, or contracted to be sold, leased, or 
 hired as aforesaid, shall have the name of the vendor, lessor, or 
 bailor plainly marked in letters not less than one inch in size on 
 each side thereof, followed by the word "ovmer," or "lessor," or 
 "bailor," as the case may be. 
 
 Sec. ^ Recorded hy Secretary of State — Release — Fee. — The 
 contracts herein authorized shall be recorded by the Secretary of 
 State in a book of records to be kept for that purpose. And on 
 payment in full of the purchase money,, and the performance of the 
 
 456 xS 
 
73 
 
 terms and conditions stipulated in any sneli contract, a declara- 
 tion in writing to that effect shall be made by the vendor, lessor 
 or bailor, or his or its assignee, which declaration may be made 
 on the margin of the record of the contract, duly attested, or 
 it may be made by a separate instrument, to be acknowledged 
 by the vendor, lessor or bailor, or his or its assignee and recorded 
 as aforesaid. And for such services the Secretary of State shall be 
 entitled to a fee such as is allowed by law for recording like instru- 
 ments. 
 
 T i ¥ iii iM i i( i fi i nr i ) i ) iiii i iiii iu ii a n 
 
 CaMfylX^ XawB of ntah. 1907. 
 Title 12. 
 
 168. Condi iion-jl Saloa to rallwa:/8« X-i® pro- 
 rieiona of this litle shall not upply *o contracts made 
 c*y any xedlmof company owninf? or operating a railway in 
 thia state, for the pocoeesion, use, and condition »1 pur« 
 eh&ae of rolling stock and equipsBente to operate such 
 railway, and containinis? the condition that the title shall 
 not paaa until full payment of the purchnae price; and 
 Buch contract shall he valid ae to all persons without 
 recordinp the a anas . 
 
74 
 
 VEEMONT. 
 
 The Legislature meets liennially on the first Wednesday of 
 October in the even-numbered years. (Constitution, Art. 2Jt, Sec. 1; 
 Vermont Statutes (1894), P- -49-) 
 
 Sec. JfS89. In a contract for the sale of railroad or street rail- 
 way equipment or rolling stock, it shall be lawful to agree, that 
 the title to the property sold or contracted to be sold, although pos- 
 session thereof may be delivered immediately, or at any time or 
 times subsequently, shall not vest in the purchaser imtil the 
 purchase price shall be fully paid, or that the seller shall have 
 and retain a lien thereon for the unpaid purchase money, 
 and, in a contract for the leasing or hiring of such prop- 
 erty, it shall be lawful to stipulate for a conditional sale 
 thereof at the termination of such contract, and that the 
 rentals or amounts to be received under such contract, may, as 
 paid, be applied and treated as purchase money, and that the title 
 to the property shall not vest in the lessee or bailee until the pur- 
 chase price shall have been paid in fuU, and until the terms of the 
 contract shall have been fully performed, notwithstanding delivery 
 to and possession by such lessee or bailee; provided, that no such 
 contract shall be valid as against any subsequent judgment cred- 
 itor, or any subsequent bona fide purchaser for value and without 
 notice, unless: 
 
 I. The same shall be evidenced by an instrument executed by 
 the parties and duly acknowledged by the vendee, lessee or bailee, 
 as the case may be, or duly proved, before some person authorized 
 by law to take acknowledgment of deeds, and in the same manner 
 as deeds are acknowledged or proved. 
 
 IL Such instrument shall be filed for record in the office of 
 the secretary of state of this state. 
 
 1 1 1. Each locomotive engine, or car so sold, leased or hired, or 
 contracted to be sold, leased or hired as aforesaid, shall have the 
 name of the vendor, lessor, or bailor plainly marked on each side 
 thereof, followed by the word "owner" or "lessor" or "bailor," as 
 the case may be (Laws 1894, p. 75). 
 
 Sec. 4390. The contracts authorized by the preceding section 
 shall be recorded by the secretary of state in a book of records 
 to be kept for that purpose. On payment in full of the 
 
75 
 
 purchase money, and the performance of the terms and con- 
 ditions stipulated in any such contract, a declaration in writ- 
 ing to that effect may be made by the vendor, lessor, or 
 bailor, or his or its assignee. Such declaration may be made 
 on the margin of the record of the contract, duly attested, 
 or it may be made by a separate instrument, to he acknowl- 
 edged by the vendor, lessor, or bailor, or his or its assignee, and 
 recorded as aforesaid. For such services the secretary of state 
 shall be entitled to a fee of two doUars, for rcording each of said 
 contracts and each of said declarations, and a fee of one dollar for 
 noting such declaration on the margin of the record. 
 
 Public Statutes of Vermont (1906), p. 844. 
 
76 
 
 VIEGINIA. 
 
 The Legislature meets on the second Wednesday in January in 
 the even-numhered years. {Gonstiiution, Art. ^, § Jt6; Ihid., Sched- 
 ule, § 10; Virginia Code {190i), pp. ccxix, cclxxv.) 
 
 Sec. 2i-62. Reservation of title to and liens on goods and chat- 
 tels sold to he void as to creditors and purchasers unless in writing 
 and recorded; How enforced. 
 
 Subdivision 1. Every sale or contract for tlie sale of goods and 
 chattels wherein the title thereto or a lien thereon is reserved until 
 the same be paid for in whole or in part, or the transfer of title is 
 made to depend on any condition, and possession be delivered to 
 the vendee, shall, in respect to such reservation and condition, be 
 void as to creditors of and purchasers for value without notice from 
 such vendee until such sale or contract be in writing, signed by both 
 the vendor and vendee, in which the said reservation or condition 
 is expressed, and until and except from the time that a memorandum 
 of said writing, setting forth the date thereof, the amount due 
 thereon, when and how payable, and a brief description of said 
 goods or chattels, be docketed in the clerk's office of the circuit or 
 corporation court of the county or corporation in which said goods 
 or chattels may be, or in the clerk's office of the chancery court 
 of the city of Richmond, if said goods or chattels be within the cor- 
 porate limits of said city; and it shall be the duty of such clerk 
 to docket and to index the same from the original contract in the 
 name of the vendor and vendee, together with the date ot such 
 docketing, in a book to be kept by him for that purpose, and to en- 
 dorse on such contract the words, "Memorandum docketed," vyith 
 his signature as clerk affixed thereto, for which service the clerk may 
 charge a fee not exceeding twenty-five cents; but no tax shall be 
 charged thereon, and the docketing and indexing of such memoran- 
 dum of said contract as is herein provided for shall have the same 
 effect as to creditors of and purchasers for value without notice 
 from the vendee as if said contract were recorded according to the 
 provisions of chapter one hundred and nine of the Code of Vir- 
 ginia of eighteen hundred and eighty-seven, or if said goods or 
 chattels consist of locomotives, ears, or other rolling stock, equip- 
 ments or personal property of any description to be used in or 
 
77 
 
 about the operation of any railroad, until and except from the time 
 the said writing is duly admitted to record in the clerk's office of 
 the circuit or corporation court of the county or corporation wherein 
 the principal oflSce in this State of the company operating the rail- 
 road is located, or in the clerk's office of the chancery court of the 
 city of Eichmond, if said principal office is within the corporate 
 limits of the said city, and a copy of said writing be filed in the 
 office of the State corporation commission, and each locomotive, 
 car, or other piece of rolling stock be plainly and permanently 
 marked with the name of the vendor on both sides thereof, followed 
 by the word "owner." 
 
 Except where said goods and chattels consist of locomotives, 
 cars, or other rolling stock, equipments or personal property of any 
 description to be used in or about the operation of any railroad, no 
 acknowledgment or other form of proof shall be requisite to author- 
 ize the clerk to docket said sale or contract, and all sales or con- 
 tracts for the sale of goods or chattels other than locomotives, cars, 
 and railroad equipment aforesaid, heretofore docketed without ac- 
 knowledgment or other proof, shall have the same force and effect 
 as if the same had been duly acknowledged or proved. 
 
 Sec. Si6£a. Release of contracts for sale of personal property 
 docTceted under Section ZU62. 
 
 Each vendor in a contract for the sale of personal property 
 docketed under section twenty-four hundred and sixty-two of the 
 Code of Virginia, as amended, upon payment to him of the amount 
 of purchase price in full, as set forth in said contract, shall mark, 
 or cause to be marked, in the manner hereinafter stated, the same 
 satisfied upon the margin of the page of the book where the same is 
 recorded, which note of satisfaction, when signed by such vendor 
 or his duly authorized agent, or attorney, and attested by the clerk 
 in whose office such contract is docketed, shall operate as a release 
 of all claims of such vendor therein; or upon the written notice by 
 the vendor, his duly authorized agent or attorney to the clerk in 
 whose office the contract is docketed, stating therein that said con- 
 tract has been fully paid by the vendee, the clerk shall, upon such 
 notice, mark said contract satisfied upon the margin of the page of 
 the book wherein such contract is docketed, and this shall operate as 
 a release of all claims of such vendor, as to all the goods described in 
 the contract so docketed, and the clerk for attesting such release as 
 is herein provided, or for making said contract satisfied upon the 
 written request of the vendor, his duly authorized agent or attor- 
 ney, shall have a fee of twenty-five cents, to be paid by the vendee. 
 
 An y vendor failing or neglecting to so release a contract after 
 the whole amount thereof has been paid to him, and vsdthin fifteen 
 
78 
 
 days after such vendor shall have received written notice from the 
 vendee to mark said contract satisfied, he shall forfeit five dollars 
 to the vendee. 
 
 Virginia Code (1904), p. 1219. 
 
79 
 
 WASHINGTON. 
 
 The Legislature meets hiennially on the Second Monday of 
 January in the odd-nurnbered years. (Ballinger's Annotated Codes 
 and Statutes of Washington (1897), Vol. I, p. 27, § 80.) 
 
 ^74/ §A^^^y Contract of Sale or Lease.— In. any contract of [for] or 
 for tne sale of railroad equipment or rolling stocks, it shall be lawful 
 to agree that the title to the property sold, or contracted to be sold, 
 although deliverable immediately, or at any time or times subse- 
 quently, shall not vest in the purchaser until the purchase price 
 shall be fully paid, or that the seller shall have and retain a lien 
 thereon for the unpaid purchase money; and in any contract of 
 [for] or for the leasing of such property, it shall be lawful to 
 stipulate for a conditional sale thereof at the termination of such 
 lease, and that the rentals received may, as paid, be applied and 
 treated as purchase money, and that the title to the property shall 
 not vest in the lessee or vendee until the purchase price shall be 
 paid in full, notwithstanding delivery to and possession by such 
 lessee or vendee: Provided, that no such contract shall be valid 
 as against any subsequent judgment creditor, or any subsequent 
 hona fide purchaser, for value and without notice, unless, — 
 
 1. The same shall be evidenced by an instrimient duly acknowl- 
 edged before some person authorized by law to take acknowledg- 
 ments of deeds; 
 
 2. Such instruments shall be filed for record in the office of 
 the county auditor of the county in which, at the time of the exe- 
 cution thereof, is situated the principal office of the vendee or lessee 
 within this territory; 
 
 3. Each locomotive engine or car so sold, or contracted to be 
 sold, or leased, as aforesaid, shall have the name of the vendor or 
 lessor plainly marked on each side thereof, followed by the word 
 "ovmer" or "lessor," as the case may be. 
 
 S1A% ^689^ Recording of Contract. — The contracts herein author- 
 ized shall be recorded by the said county recorder, in the book of 
 records of mortgages of real estate in said county; and on pay- 
 ment in full of the purchase money, and the performance of the 
 terms and conditions stipulated in any such contract, a declaration 
 in writing to that effect shall be made by the vendor or his assignee, 
 which declaration may be made on the margin of the record of the 
 
80 
 
 contract, attested by the said recorder, or it may be made by a 
 separate instrument, to be acknowledged and recorded as aforesaid, 
 and for sucb services the county recorder shall be entitled to the 
 fees provided by law for the recording of deeds and mortgages of 
 real estate. 
 
 Ballinger's Annotated Codes and Statutes of Wash- 
 ington (1897), Vol. I, p. 1213. 
 
 fiemmg'ton and Ballingej-'s Annotated Codes 
 dnd stotutes o/. Wasli inpton (ao), Vol.tC, 
 page 1916. 
 
81 
 
 WEST VIRGINIA. 
 
 The Legislature meets on the second Wednesday of January in 
 the odd-numbered years. (^Constitution, Art. 6, § 18; Code of West 
 Virginia {1906), -p. Iviii.) 
 
 00 Ol Sec.ySlOl) Sale of chattels — Transfer of possession — Reservation 
 of title or use — Transfer of railroad equipment. 
 
 S. Where any loan of goods or chattels is pretended to have 
 been made to any person with whom, or those claiming under him, 
 possession shall have remained five years without demand made and 
 pursued by due process of law on the part of the pretended lender, 
 or where any reservation or limitation is pretended to have been 
 made of a use or property, by way of condition, reversion, re- 
 mainder, or otherwise, in goods or chattels, the possession whereof 
 shall have so remained in another as aforesaid, the absolute property 
 shalL be taken to be with the possession, and such loan, reservation 
 or limitation, void as to creditors of, and purchasers from, the per- 
 son so remaining in possession, unless such loan, reservation, or 
 limitation, be declared by will, deed or other writing, duly re- 
 corded. And if any sale be made of goods and chattels, reserving 
 the title until the same is paid for, or otherwise, and possession be 
 delivered to the buyer, such reservation shall be void as to creditors 
 of, and purchasers without notice from, such buyer, unless a notice 
 of such reservation be recorded in the office of the clerk of the 
 county court of the county where the property is, or in case said 
 goods and chattels consist of engines, cars or other rolling stock or 
 equipment to be used in or about the operation of any railroad, un- 
 less such notice be recorded in the office of the secretary of state, 
 who in such case shall record the same in a book to be kept for the 
 purpose, and be entitled to a fee of five dollars for so doing. 
 Code of West Virginia (1906), p. 1250. 
 
 MftggS Annototecl Code o^ VIeet Virginia O^'S) 
 
82 
 
 WISCONSIN. 
 
 The Legislature meets biennially on the second Wednesday of 
 January in the odd-numbered years. {Wisconsin Statutes {1898), 
 Vol. I, p. 2S1, § 99.) 
 
 Sales of Equipment and Boiling Btoch. Section 18S9a. — In all 
 cases where railroad equipment and roUing stock may have been or J, 83 9a. 
 shall be sold to any person, firm or corporation to be paid for injaay' "Jj 
 whole or in part in instalments, or shall be leased, rented, hired or S'tpeej 
 delivered on condition that the same may be used by the person, -jja*^ 4 
 firm or corporation purchasing, leasing, renting, hiring or receiving -i aaaai 
 the same, and that the title to the same shall remain in the vendor,*'^^ _. 
 lessor, renter, hirer or deliverer of the same until the agreed upon , ^ 
 
 price of or rent for such property shall have been fully paid, such^* "" 
 condition in regard to the title so remaining in the vendor, lessor,-^ ^S-BlH 
 renter, hirer or deliverer until such payments are fully made shall tlie tj 
 be valid for all intents and purposes as to subsequent purchasersrentei 
 in good faith and creditors; provided, the term during which theUpOH f 
 instalments or rent are to be paid shall not exceed ten years, andf u3_2,y 
 such contract shall be in writing; and further provided, that such —gjjj-^f . 
 contract shall be recorded in the office of the secretary of state, and ,_i j-j 
 on each locomotive or car that may have been or may he sold or . . . 
 leased the name of the vendor or lessor or assignee of the vendor or***" *^ 
 lessor shall be marked in a conspicuous place followed by the word03?efllt 
 "ovmer" or "lessor," as the case may be. the t8 
 
 "Wisconsin Statutes (•*e«i^if*p!#^"¥lrfftBrai paid f 
 
 ^ shall 
 
 and 61 
 have \ 
 or lei 
 marked 
 or "le 
 
Sales of Bqtilpment and Rolling; Stock . Section 
 V In all cases inhere cars, equipment or rolling stock 
 US teen or shall be sold to any person, firm, railroad, 
 or interurban railroad or railway corporation, to "be 
 r In whole or in part in instalments, or shall he 
 I rented, hired, or delivered on condition that 
 iBi«Or he used hy the person, fiirm, railroad, street 
 rurban railroad or railway corporation pvirchasing, 
 L renting, hiring or receiving the same, and that 
 le to the same shall remain in the vendor, lessor, 
 I hirer or deliverer of the ssune until the agreed 
 dee of or rent for such property shall have heen 
 laid, such condition in regard to the title so 
 Mi in the vendor, lessor, renter, hirer, or deliverer 
 toeh payments are fully made shall he valid for all 
 >and purposes as to all third parties and as to 
 rl and subsequent purchasers in good faith; provided, 
 M during *iich such instalments of rent are to be 
 iXl not exceed ten years, and such contract shall 
 (Titing; and further provided, that such contract 
 !e recorded in the office of the secretary of state, 
 ^ch locomotive, car or other equipment that W 
 ,« or n«y be sold or leased, the name of th« -endor 
 lor or assignee of the vendor or lessor, shall be 
 In a conspicuous place, followed by the word -owner 
 8or», as the case may be. 
 
 (As amended by Chapter 524 of the La^s of 1913), 
 
83 
 
 WYOMING. 
 
 The Legislature meets biennially on the second Tuesday of Jan- 
 uary in the odd-numbered years. (Constitution, Art. Ill, § 7; Wy- 
 oming Revised Statutes (1899), p. 50.) 
 
 Sec. 37^7. Contracts — How evidenced — Filing. — In any con- 
 tract for tlie sale of railroad or street railway equipment or 
 rolling stock, it shall be lawful to agree that the title to the 
 property sold or contracted to be sold, although possession 
 thereof may be delivered immediately, or at any time or times 
 subsequently, shall not vest in the purchaser until the pur- 
 chase price shall be fully paid, or that the seller shall have and 
 retain a lien thereon for the unpaid purchase money. And in any 
 contract for the leasing or hiring of such property, it shall be law- 
 ful to stipulate for a conditional sale thereof at the termination of 
 such contract, and that the rentals or amounts to be received under 
 such contract, may, as paid, be applied and treated as purchase 
 money, and that the title to the property shall not vest in the lessee 
 or bailee until the purchase price shall have been paid in full, and 
 until the terms of the contract shall have been fully performed, not- 
 withstanding delivery to and possession by such lessee or bailee; 
 Provided, That no such contract shall be valid as against any sub- 
 sequent judgment creditor, or any subsequent bona fide purchaser 
 for value and without notice, unless: 
 
 I. The same shall be evidenced by an instrument executed by 
 the parties and duly acknowledged by the vendee or lessee or bailee, 
 as the case may be, or duly proved, before some person authorized 
 by law to take acknowledgment of deeds, and in the same manner 
 as deeds are acknowledged or proved: 
 
 II. Such instrument shall be filed for record in the office of 
 the secretary of state. 
 
 III. Each locomotive engine, or car so sold, leased or hired, 
 or contracted to be sold, leased or hired as aforesaid, shall have the 
 name of the vendor, lessor, or bailor plainly marked on each side 
 thereof, followed by the word "owner" or "lessor" or "bailor," as 
 the case may be. 
 
 Sec. S7Jf8. Contracts to be recorded — Fee. — The contracts here- 
 in authorized shall be recorded by the secretary of state in a book 
 of records to be kept for that purpose. On payment in full of the 
 
84 
 
 purchase money, and tlie performance of the terms and conditions 
 stipulated in any such contract, a declaration in writing to that 
 effect may be made by the vendor, lessor, or bailor, or his or its 
 assignee, which declaration may be made on the margin of the 
 record of the contract, duly attested, or it may be made by a sep- 
 arate instrument, to be acknowledged by the vendor, lessor, or 
 bailor or his or its assignee, and recorded as aforesaid. The sec- 
 retary of state shall collect a fee of five dollars, for recording each 
 of said contracts and a fee of two dollars for recording each of 
 said declarations, and a fee of one dollar for noting such declaration 
 on the margin of the record. 
 
 Sec. S760. Chattel mortgage laws not to apply. — Statutes re- 
 lating to the filing, recording, interpretation, or validity of chattel 
 mortgages shall not affect the recording, interpretation, or validity 
 of contracts of the character hereinbefore named, but the same shall 
 be controlled by the provisions of this chapter alone. And the con- 
 tracts hereinbefore named shall not be affected by the provisions 
 of the preceding chapter. 
 
 Wyoming Compiled Statutes (1910), p. 915. 
 
85 
 
 ALBERTA. 
 
 1. Whenever on a sale or bailment of goods of the value of $15 
 or over it is agreed, provided or conditioned that the right of prop- 
 erty or right of possession in whole or in part shall remain in the 
 seller or bailor notwithstanding that the actual possession of the 
 goods passes to the buyer or bailee tbe seller or bailor shall not be 
 permitted to set up any such right of property or right of possession 
 as against any purchaser or mortgagee of or from the buyer or bailee 
 of such goods in good faith for valuable consideration or as against 
 judgments, executions or attachments against the purchaser or 
 bailee unless such sale or bailment with such agreement, proviso or 
 condition is in writing signed by the bailee or his agent and regis- 
 tered as hereinafter provided. Such writing shall contain such a 
 description of the goods the subject of the bailment that the same 
 may be readily and easily known and distinguished: 
 
 Provided that nothing in this section shall apply to any bailment 
 where it is not intended that the property in the goods shall event- 
 ually pass to the bailee on payment of purchase money in whole or 
 in part or the performance of some condition by the bailee. 
 
 And provided further that nothing in this section shall apply 
 in cases of conditional sales or bailments of incorporated companies 
 or railway companies if the contract evidencing the conditional sale 
 or bailment or a copy thereof certified under the hand of the 
 president or vice-president and the secretary of the company, and 
 verified by an afiidavit of the secretary thereto attached or endorsed 
 thereon, and having the corporate seal attached thereto, is filed with 
 the registar of joint stock companies within thirty days from the 
 execution thereof. 
 
 2. Such writing or a true copy thereof shall be registered in the 
 office of the registration clerk for chattel mortgages in the registra- 
 tion district within which the buyer or bailee resides within 30 days 
 from the time of the actual delivery of such goods to the bailee or 
 buyer, and in the event of such goods being delivered in a registra- 
 tion district other than that in which the buyer or bailee resides 
 at the time of such delivery, such writing or a true copy thereof 
 shall also be registeied within 30 days from the time of the actual 
 delivery of such goods in the registration district in which such 
 goods are delivered. 
 
86 
 
 (2) If sucli goods are, after the delivery thereof, removed by 
 the buyer or bailee into another registration district, a further 
 registration shall be made in the registration district into which 
 such goods are removed within 60 days after such removal. 
 
 (3) Every such agreement or a true copy thereof shall upon 
 every such registration be accompanied by an affidavit of the seller 
 or bailor or his agent, stating that the written agreement annexed 
 thereto truly sets forth the agreement entered into between the 
 parties and that the said agreement was entered into hona fide 
 and not for the purpose of protecting the goods mentioned therein 
 against the creditors of the buyer or bailee. 
 
 6. The seller or bailor shall upon payment or tender of the 
 amount due in respect of such goods or performance of the con- 
 ditions of the bailment sign and deliver to any person demanding it 
 a memorandum in writing stating that his claims against the goods 
 are satisfied and such memorandum shall thereupon operate to 
 divest the seller or bailor of any further interest or right of posses- 
 sion if any in the said goods. Any such memorandum if accom- 
 panied by an affidavit of execution of an attesting witness may be 
 registered. 
 
 7. In ease the seller or bailor shall retake possession of the goods 
 he shall retain the same in his possession for at least 20 days and 
 the buyer, bailee or any one claiming by or through or under the 
 buyer or bailee may redeem the same upon payment of the amount 
 actually due thereon and the actual necessary expenses of taking 
 possession. 
 
 8. The goods or chattels shall not be sold without five days notice 
 of the intended sale being first given to the buyer or bailee or his 
 successor in interest. The notice may be personally served or may 
 in the absence of such buyer, bailee or his successor in interest be 
 left at his residence or last place of abode or may be sent by regis- 
 tered letter deposited in the post office at least seven days before the 
 time when the said five days will elapse addressed to the buyer or 
 bailee or his successor in interest at his last known post office ad- 
 dress in Canada. The said five days or seven days may be part of 
 the 20 days mentioned in section Y hereof. 
 
 9. Copies of any instrument filed under this Ordinance certified 
 by the registration clerk shall be received as prima facie evidence 
 for all purposes as if the original instrument were produced and 
 also as prima facie evidence of the execution of the original instru- 
 ment according to the purport of such copy. And the clerk's cer- 
 
87 
 
 tificate shall also be prima facie evidence of the date and hour of 
 registration or filing. 
 
 10. The registration clerk shall be entitled to charge a fee of 25 
 cents for each registration; 10 cents for each search; 10 cents per 
 100 words for copies of documents and 25 cents for each certificate. 
 
 North-West Territories Consolidated Ordinances 
 
 (1905-1907), p. 450. 
 As amended. Alberta Statute (1908), C. 20, D. 2. 
 
BEITISH COLUMBIA. 
 
 25. From and after the coming into force of this Act, every 
 receipt-note, hire receipt, or order for chattels given by any bailee 
 of chattels where the condition of the bailment is such that the 
 possession of the chattels should pass without any ownership therein 
 being acquired by the bailee until the payment of the purchase or 
 consideration money, or some stipulated part thereof, shall be void 
 as against any subsequent purchasers or mortgagees of such chattels 
 without notice in good faith for valuable consideration, unless a 
 true copy of any such receipt-note, hire receipt, order, or other in- 
 strument evidencing the bailment or conditional sale given to 
 secure the purchase money, or part thereof, shall be filed with the 
 proper officer, not later than twenty-one days after the delivery of 
 the goods, or the first portion thereof, to the bailee or conditional 
 purchaser; and no such bailment or conditional purchase shall be 
 valid as against such subsequent purchaser or mortgagee as afore- 
 said, unless it is evidenced in writing, signed by the bailee, or con- 
 ditional purchaser, or his agent. The proper officer with whom any 
 instrument as aforesaid shall be filed shall be the officer with whom 
 a bin of sale affecting property situate at the place where the 
 bailee or conditional purchaser resides at the time of the bailment 
 or conditional purchase would by law be required to be registered. 
 
 26. Every manufacturer, bailor, or vendor shall, on application 
 by any proposed purchaser or other interested person, within five 
 days furnish full information respecting the amount or balance due 
 or unpaid on any such manufactured goods or chattels, and the 
 terms of payment of such amount or balance, and in case of re- 
 fusal or neglect to furnish the information asked for, such manu- 
 facturer, bailor, or vendor shall be liable to a fixie not exceeding fifty 
 dollars on summary conviction before a Stipendiary or Police Mag- 
 istrate or two Justices of the Peace. 
 
 27. The person so inquiring (if by letter) shall give a name and 
 post office address to which a reply may be sent, and it shall be suf- 
 ficient if the information aforesaid be given by registered letter de- 
 posited in the post office within the said five days, addressed to the 
 person inquiring at his proper post office address, or where a name 
 and address is given as aforesaid, addressed to such person by the 
 name and at the post office so given. 
 
 28. If any manufacturer, bailor, or vendor, of such chattel or 
 chattels, or his successor in interest where there has been a con- 
 
ditional sale, or promise of sale, take possession thereof for breach 
 of condition, he shall retain the same for twenty days, and the 
 bailee, or his successor in interest, may redeem the same within 
 such period on payment of the full amount then in arrear, together 
 with interest and the actual costs and expenses of taking possession 
 which have been incurred. 
 
 29. When the goods or chattels have been sold or bailed orig- 
 inally for a greater sum than thirty dollars, the same, when taken 
 possession of, as in the nreceding section mentioned, shall not be 
 sold without fire days' notice of the intended sale being first given 
 to the bailee, or his successor in interest. The notice may be per- 
 sonally served or may, in the absence of such bailee or his successor 
 in interest, be left at his residence or last known place of abode in 
 British Columbia, or may be sent by registered letter deposited in 
 the post office at least seven days before the time when the said five 
 days will elapse, addressed to the bailee, or his successor in interest, 
 at his last known post office address in Canada. The said five days 
 or seven days may be part of the twenty days in the previous sec- 
 tion mentioned. 
 
 30. The proper officer, on receipt of the copy mentioned in sec- 
 tion 25 of this Act, shall duly file the same and cause it to be 
 properly entered in an index book to be kept for that purpose, and 
 shall be entitled to charge twenty-five cents for every such filing, 
 and ten cents for every search in respect thereof. In the event of 
 any variance between the original document and the copy which 
 has been filed, the copy filed shall prevail. 
 
 31. The manufacturer, bailor, or vendor shall leave a copy of the 
 receipt-note, hire receipt, order or other instrument by which a lien 
 on the chattel is retained, or which provides for a conditional sale 
 with the bailee or conditional vendee at the time of the execution 
 of the instrument, or within twenty days thereafter. 
 
 Eevised Statutes of British Columbia (1897), Vol. II, 
 p. 1882. 
 
90 
 
 MAlSriTOBA. 
 
 1. This Act may be cited as "The Lien Notes Act." 
 
 2. On, from and after the twenty-seventh day of July in the 
 year one thousand eight hundred and eighty-six, receipt notes, hire 
 receipts and orders for chattels given by bailees of chattels, where 
 the condition of the bailment is such that the possession of the chat- 
 tels should pass without any ownership therein being acquired by 
 the bailee, were and shall be only valid in the case of manufactured 
 goods or chattels which, at the time the bailment is entered into, 
 have the m.anufacturer's name or some other distinguishing name 
 painted, printed or stamped thereon or otherwise plainly attached 
 thereto; and no such bailment shall be valid unless it be evidenced 
 in writing, signed by the person thus taking possession of the chat- 
 tel. 
 
 3. Every manufacturer and his agents shall forthwith, on appli- 
 cation, furnish to any applicant full information respecting the 
 balance due on any such manufactured goods or chattels and the 
 terms of payment of such balance, and in case he or they refuses or 
 refuse, neglects or neglect, to furnish the information asked for, 
 such manufacturer or agent shall be liable to a fine of not less than 
 ten dollars nor more than fifty dollars on conviction before any 
 justice of the peace. 
 
 Eevised Statutes of Manitoba (1902), Vol. I, p. 1334. 
 
 1. Notwithstanding anything contained in "The Bills of Sale 
 and Chattel Mortgage Act" and "The Lien Notes Act," and amend- 
 ments thereto, any bill of sale, chattel mortgage, conditional sale, 
 lease or other agreement of or respecting rolling stock and equip- 
 ment, for use on railways, may be registered in the office of the 
 Provincial Secretary of the Prpvince of Manitoba, on payment of a 
 fee of two dollars, by filing in such office a copy thereof, certified by 
 a notary public to be a true copy, and no other registration or filing 
 shall be necessary, and upon being so filed the same shall be as valid 
 and effectual as if filed or registered in accordance with the pro- 
 visions of the said Acts and amendments, and the same shall have 
 priority from the time of such filing, and no renewal thereof shall 
 be required, and any discharge or partial discharge of any such bill 
 of sale, chattel mortgage, conditional sale or other agreement may 
 be registered in the said office in the same manner on payment of a 
 like fee. 
 
 4-5 Edw. VII, c. 2, p. 4. 
 
91 
 
 NEW BEimSWICK. 
 
 1. Where in any sale of any chattel the condition of the sale is 
 such that the possession of the chattel passes without any owner- 
 ship therein being required by the vendee until the payment of the 
 purchase or consideration money or some stipulated part thereof, 
 such condition shall be valid only as against a subsequent purchaser 
 or mortgagee from the vendee without notice, in good faith, and for 
 valuable consideration, when the said sale is evidenced in writing 
 signed by the bailee or his agent and a copy of such writing filed 
 as provided by section 2 of this Chapter. 
 
 2. A copy of such writing shall be filed with the registrar of 
 deeds of the county in which the bailee or conditional purchaser re- 
 sided at the time of the bailment or conditional purchase, within 
 fifteen days from the delivery of possession of the chattel mentioned 
 in the agreement. 
 
 3. The registrar, on receipt of such copy, shall duly file the same, 
 and cause it to be properly entered in an index book to be kept for 
 that purpose, and shall be entitled to charge ten cents for every 
 such filing, and five cents for every search in respect thereof. A 
 clerical error which does not mislead, or an error in an immaterial 
 or non-essential part of said copy so filed, shall not invalidate the 
 said filing, or destroy the effect thereof. 
 
 4. The vendor shall leave a copy of the instrument by which a 
 lien on the chattel is retained, or which provides for a conditional 
 sale, with the bailee or conditional vendee at the time of the execu- 
 tion of the instrument, or within twenty days thereafter. 
 
 5. Every vendor shall, on demand by any creditor or interested 
 person, file with said registrar, within twenty days from the making 
 of said demand, a sworn statement of the amount due on the instru- 
 ment by which a lien on a chattel is retained, or which provides for 
 a conditional sale, and on failure to so file said statement, shall for- 
 feit all rights accruing under the instrument by which a lien on 
 the chattel is retained, or which provides for a conditional sale, as 
 against such creditor or interested person. 
 
 6. In case any manufacturer, bailor or vendor of any chattel in 
 respect of which there has been a conditional sale or promise of 
 sale, or his successor in interest takes possession thereof for breach 
 
92 
 
 of condition, he shall retain the same for twenty days, and the 
 bailee, or his successor in interest, may redeem the same within such 
 period, on payment of the full amount then in arrear, together with 
 interest and the actual costs, and expenses of taking possession 
 which have been incurred. 
 
 7. Where goods or chattels have been sold or bailed originally for 
 a greater sum than $30, and the same have been taken possession of 
 as in the preceding section mentioned, such goods or chattels shall 
 not be sold without five days' notice of the intended sale being first 
 given to the bailee or his successor in interest. The notice may be 
 personally served, or may, in the absence of such bailee or his suc- 
 cessor in interest, be left at his residence, or last known place of 
 abode in New Brunswick, or may be sent by registered letter de- 
 posited in the post office at least seven days before the time when 
 the said five days will elapse, addressed to the bailee or his suc- 
 cessor in interest, at his last known post office address in Canada. 
 The said five days or seven days, may be part of the twenty days in 
 the last preceding section mentioned. 
 
 8. Where any goods or chattels have been sold or bailed under any 
 receipt note, hire receipt, or other instrument by which it is agreed 
 that no othership therein shall be acquired by the purchaser or 
 bailee until the payment of the purchase or consideration money, or 
 some stipulated part thereof, and such goods or chattels are affixed 
 to any realty, without the consent in writing of the owner of the 
 goods or chattels, such goods and chattels shall not be or become 
 part of the realty, but shall continue to be and remain personal 
 property, and the rights of the owner or ovmers thereof shall not be 
 in any way altered or affected by such goods or chattels being so 
 affixed to the realty; but the owner of such realty, or any purchaser, 
 or any mortgagee, or other incumbrancer on such realty, shall have 
 the right as against the manufacturer, bailor, or vendor of such 
 goods or chattels, or any person claiming through or under them, to 
 retain the said goods and chattels upon payment of the amount due 
 and owing thereon. 
 
 New Brunswick Consolidated Statutes (1903), Vol. II, 
 p. 1719. 
 
 1. When the purchase or consideration money mentioned in the 
 first section of Ch. 143 of the Consol. Sts. 1903 has been paid, it 
 shall be the duty of the vendor or bailor, on request, to forthwith 
 cancel the writing by which the sale or bailment of the chattel 
 is evidenced, either by signing a memorandum acknowledging the 
 receipt of the purchase money in the index book kept by the 
 Registrar of Deeds, or by filing a document with the Registrar of 
 
93 
 
 Deeds to that effect, for which the said Registrar shall receive the 
 sum of ten cents for each entry or filing of cancellation. 
 
 2. If the vendor or bailor of any chattel, the subject of a condi- 
 tional sale, do not within one month after demand in writing so to 
 do, file with the Registrar of Deeds of the county where the writing 
 evidencing such sale or bailment thereof is filed, a statement of the 
 amount due thereon, the purchase or consideration money shall be 
 deemed fully paid and satisfied, and the said Registrar, upon being 
 satisfied of said demand having been made, shall enter the cancella- 
 tion of such writing in the index book provided to be kept by Sec. 3 
 of said chapter, which shall be suflicient evidence of such payment. 
 9 Edw. VII (1909), ch. 31, p. 129. 
 
94 
 
 NOVA SCOTIA. 
 
 The Bills of Sale Act. 
 
 8. (1) Every hiring, lease, bailment or bargain for the sale of 
 personal chattels, accompanied by an immediate delivery, and fol- 
 lowed by an actual and continued change of possession, whereby it 
 is agreed: 
 
 (o) That the property in the personal chattels, or 
 
 (b) In case of a bargain for sale, that a lien thereon for 
 the price thereof, or any portion thereof, shall remain 
 in the person letting to hire, the lessor, the bailor or 
 the bargainor, until payment in full of the hire, 
 rental or price agreed upon, by future payments or 
 otherwise, and whether the personal chattels so de- 
 livered be the identical subject matter of the hiring, 
 lease, bailment or bargain or sale, or otherwise, 
 
 shall be evidenced by instrument or instruments, in writing, show- 
 ing the terms of such agreement, and be signed by the person to 
 whom such personal chattels are hired, the lessee, bailee, bar- 
 gainee, or his agent thereunto duly authorized, in writing, and 
 shall have written or printed therein the post office address of the 
 person letting to hire, lessor, bailor, or bargainor. 
 
 (2) Within ten days after the delivery of such chattel or chattels 
 a true copy of such instrument or instruments in writing shall be 
 filed in the registry of deeds for the registration district in which 
 the person to whom such personal chattels are hired, the lessee, 
 bailee, or bargainee resides at the time of the execution thereof, 
 and the same shall be accompanied by an affidavit of the person 
 to whom such personal chattels are hired, the lessee, bailee, or bar- 
 gainee, or if such instrument or instruments be signed by an agent, 
 the affidavit of such agent, stating: 
 
 (a) That the said copy or copies of such instrument or 
 
 instruments truly sets forth the terms, nature and 
 effect of the agreement between the parties thereto 
 with respect to the personal chattels therein men- 
 tioned; and, 
 
 (b) That said instrument or instruments was or were exe- 
 
 cuted in good faith, and for the purpose of securing 
 
95 
 
 to the person letting to hire, the lessor, the bailor, or 
 the bargainor, the payment in full of the amount 
 therein mentioned as to be paid, and not for the mere 
 purpose of protecting the personal chattels therein 
 mentioned against the creditors of the person to whom 
 such personal chatties are hired, the lessee, bailee or 
 bargainee, or of preventing such creditors from re- 
 covering any claim which they may have against him. 
 
 (3) Such affidavit shall be as nearly as may be in the form "D" 
 in the schedule, 
 
 (4) The registrar on receipt of such copy or copies and affi- 
 davit shall duly file the same, and cause them to be properly entered 
 in the index book kept for that purpose. 
 
 (5) The person letting to hire, lessor, bailor, or bargainor, shall 
 leave a copy or copies of such instrument or instruments, in 
 writing, with the person to whom such personal chattels are hired, 
 the lessee, bailee, or bargainee, at the time of the execution of such 
 writing or within twenty days thereafter. 
 
 (6) If a copy or copies of such instrument or instruments, in 
 writing, and affidavit, be not filed as required by sub-section (2) of 
 this section, the agreement between the parties that such property 
 or such lien shall remain in such person letting to hire, lessor, 
 bailor, or bargainor, as aforesaid, shall, as against the creditors, 
 purchasers and mortgagees of the person to whom such personal 
 chattels are hired, of the lessee, of the bailee, or of the bargainee, 
 be null and void. 
 
 (7) Every person letting to hire, lessor, bailor, or bargainor, 
 shall, on demand by any creditor or interested person, file with said 
 registrar, within twenty days from the making of said demand, a 
 sworn statement of the amount due on such agreement, and on 
 failure to file said statement shall forfeit all rights accruing under 
 the same as against such creditor or interested person, and as to 
 such creditor or interested person the agreement between the parties 
 that such property or such lien shall remain in sucli person letting 
 to hire, such lessor, bailor, or bargainor, as aforesaid, shall thence- 
 forth be null and void. It shall be sufficient to make such demand, 
 by mailing the same, postage prepaid and registered, to the post 
 office address of the person letting to hire, lessor, bailor or bar- 
 gainor, as stated in the instrument or instruments filed in the 
 registry of deeds, under the provisions of this act. 
 
96 
 
 (8) In case any person letting to hire, lessor, bailor or bar- 
 gainor, of any personal chattels, as aforesaid, or his successors in 
 interest, takes or take possession thereof for breach of any condi- 
 tion, he or they shall retain the same for three months, and the 
 person to whom such personal chattels are hired, the lessee, bailee 
 or bargainee or his successor in interest may redeem the same 
 within such period on payment of the full amount then in arrears, 
 together with interest. 
 
 (9) When personal chattels have been let to hire, leased, bailed, 
 or bargained, originally as aforesaid, and a copy of tha agreement 
 between the parties filed according to the provisions of this Act, 
 and the same have been taken possession of as in the next preceding 
 sub-section mentioned, such chattels shall not be sold without 
 twenty days' notice of the intended sale being first given to the 
 person to whom such personal chattels are hired, the lessee, bailee 
 or bargainee, or his successor in interest. The notice may be per- 
 sonally served, or may, in the absence of such person to whom such 
 personal chattels are hired, the lessee, bailee, or bargainee, or his 
 successor in interest, be left at his residence, or last known place 
 of abode in Nova Scotia, or be sent by registered letter deposited 
 in the post office at least twenty-two days before the time when the 
 said twenty days will elapse, addressed to the person to whom such 
 personal chattels are hired, the lessee, bailee or bargainee, or his 
 successor in interest, at his last known post office address in Canada. 
 
 2. The provisions of this Act shall extend to contracts made 
 outside the Province of Nova Scotia. 
 
 K S. Sts. (1907), Ch. 42, p. 102; (1908), Ch. 24, 
 p. 150. 
 
 9. Where the grantor is not a resident of Nova Scotia, in the 
 event of the permanent removal of personal chattels from the regis- 
 tration district in which they were at the time of the execution of 
 the bill of sale or other instrument to another registration district 
 before the payment and discharge of the bill of sale or instrument, 
 a copy of the same and of the affidavits and documents relating 
 thereto, certified under the hand of the registrar in whose registry 
 the same were first filed, shall be filed in the registry of deeds for 
 the registration district to which the personal chattels are removed 
 within two months from such removal, otherwise the bill of sale or 
 instrument as against creditors or purchasers shall be null and void. 
 
 10. The registrar of deeds shall cause the bills of sale or copies 
 and inBtruments required by this Chapter to be filed, to be num- 
 bered and indexed, and a list thereof to be made in a book kept by 
 
97 
 
 him for that purpose, containing the names and descriptions of the 
 parties in alphabetical order, the date of execution and filing, and 
 the amounts of the consideration for which the same have been 
 given. 
 
 11. Where a bill of sale or other instrument is discharged or re- 
 leased, an entry of such discharge or release may be made in the 
 registry list upon the production of a certificate from the holder of 
 such bill of sale, duly attested to by the afiidavit of a subscribing 
 witness, and such certificate or release shall be indexed and entered 
 on the list and on the files kept by the registrar. 
 
 12. (1) The affidavits mentioned in this Chapter may be made 
 before the registrar of deeds, a judge of any court, a commissioner 
 for taking affidavits, a justice of the peace, or any notary public, 
 whether within the province or abroad. 
 
 (2) If the affidavit is made by the agent or attorney of the person 
 required to make the same, it shall be set out in such affidavit that 
 such agent or attorney making the same has a personal knowledge 
 of the matters deposed to. 
 
 13. The registrar shall for his services under this Chapter be en- 
 titled to the fees mentioned in the Chapter "Of Costs and Fees." 
 
 Eevised Sts. N. S. (1900), Vol. 2, p. 413, as amended 
 by N. S. Sts. (190Y), Ch. 42, p. 102, and N. S. Sts. 
 (1908), Ch. 24, p. 150. 
 
ONTAEIO. 
 
 1. This Act may be cited as The Conditional Sales Act. 
 
 2. In this Act, "Goods" shall include wares and merchandise. 
 
 3. (1) Where possession of goods is delivered to a purchaser or 
 a proposed purchaser or a hirer of them, in pursuance of a contract 
 which provides that the ownership is to remain in the seller or 
 lender for hire until payment of the purchase or consideration 
 money or part of it, as against a subsequent purchaser or mortgagee 
 claiming from or under the purchaser, proposed purchaser, or hirer 
 without notice in good faith and for valuable consideration, such 
 provision shall be invalid, and such purchaser or proposed pur- 
 chaser or hirer shall be deemed the owner of the goods, unless, 
 
 (a) The contract is evidenced by a writing signed by the 
 purchaser, proposed purchaser or hirer or his agent 
 stating the terms and conditions of the sale or hiring 
 and describing the goods sold or lent for hire; and, 
 
 (6) Within ten days after the execution of the contract a 
 true copy of it is filed in the office of the Clerk of the 
 County or District Court of the county or district in 
 which the purchaser, proposed purchaser, or hirer 
 resided at the time of the sale or hiring. 
 
 (2) Subsection 1 shall apply to the case of a hire receipt where 
 the hirer is given an option to purchase. 
 
 (3) Where the delivery is made to a trader or other person for 
 the purpose of resale by him in the course of business, such pro- 
 vision shall also as against his creditors be invalid, and he shall be 
 deemed the owner of the goods unless the provisions of this Act 
 have been complied with. 
 
 (4) Where such trader or other person resells the goods in the 
 ordinary course of his business the property in and ownership of 
 such goods shall pass to the purchaser notwithstanding that the pro- 
 visions of this Act have been complied with. 
 
 (5) Clause (b) of subsection 1 shall not apply to a contract 
 respecting manufactured goods, including pianos, organs or other 
 musical instruments which at the time possession is delivered have 
 
the name and address of the seller or lender painted, printed, 
 stamped or engraved thereon or plainly attached thereto, nor to 
 a contract respecting household furniture other than pianos, organs 
 or other musical instruments. 
 
 (6) An error or inaccuracy in the name or address of the seller 
 or lender which does not mislead shall not prevent the application 
 of subsection 5. 
 
 (7) This section shall not apply to a contract for the sale by an 
 incorporated company to a railway company of rolling stock if the 
 contract or a copy of it is filed in the office of the Provincial Secre- 
 tary within ten days from its execution. 
 
 4. The seller or lender shall deliver a copy of the contract to the 
 purchaser or hirer within twenty days after the execution thereof, 
 and if, -after request, he neglects or refuses to do so, the Judge of 
 the County or District Court of the county or district in which the 
 purchaser or hirer resided when the contract was made may, on 
 summary application, make an order for the delivery of such copy. 
 
 5. The Clerk of the County or District Court shall make a 
 record of every contract of which a copy is filed in his office under 
 this Act in an Index Book, to be kept for that purpose, and he shall 
 be entitled to a fee of ten cents for making the record and to a fee 
 of five cents for every search in respect thereof. 
 
 6. An error of a clerical nature or in an Inunaterial or non- 
 essential part of the copy of the contract which does not mislead 
 shall not invalidate the filing or destroy the effect of it. 
 
 7. (1) The seller or lender shall, within five days after the 
 receipt of a request in writing from any proposed purchaser of any 
 goods to which this Act applies, or from any other person inter- 
 ested, furnish particulars of the amount remaining due to him and 
 the terms of payment of it and in default he shall incur a penalty 
 not exceeding $50, recoverable under The Ontario Summary Con- 
 victions Act. 
 
 (2) If the request is by letter the person making the request 
 shall give a name and post office address to which a reply may be 
 sent, and it shall be sufficient if the information is given by regis- 
 tered letter deposited in the Post Office within the prescribed time 
 addressed to the person enquiring, at his proper post office address, 
 or where the name and address is given by him by the name and at 
 the post office address so given. 
 
100 
 
 8. (1) Wtere the seller or lender retakes possession of the 
 goods for breach of condition he shall retain them for twenty days, 
 and the purchaser or hirer or his successor in interest may redeem 
 the same within that period on payment of the amount then in 
 arrear, together with interest and the actual costs and expenses of 
 taking and keeping possession. 
 
 (2) Where the purchase price of the goods exceeds $30 and the 
 seller or lender intends to look to the purchaser or hirer for any 
 deficiency on a resale of the goods they shall not be resold until 
 after notice in writing of the intended sale has been given to the 
 purchaser or hirer or his successor in interest. 
 
 (3) The notice shall be served personally upon or left at the 
 residence or last known place of abode in Ontario, of the purchaser 
 or hirer or his successor in interest at least five days before the 
 sale or may be sent by registered post at least seven days before 
 the sale addressed to the purchaser or hirer or his successor in 
 interest at his last knovsm post office address. 
 
 (4) The notice may be given during the twenty days men- 
 tioned in subsection 1. 
 
 (5) This section shall apply notwithstanding any agreement to 
 the contrary. 
 
 9. Where the goods have been affixed to realty they shall 
 remain subject to the rights of the seller or lender as fully as they 
 were before being so affixed, but the owner of such realty or any 
 purchaser or any mortgagee or other encumbrancer thereof shall 
 have the right as against the seller or lender or other person claim- 
 ing through or under him to retain the goods upon payment of the 
 amount owing on thenu 
 
 10. The following Acts and parts of Acts are repealed : 
 
 Chapter 149 and Section 41 of Chapter 148 of the Revised 
 Statutes of Ontario, 189Y. 
 
 Section 2 of Chapter 13 of the Acts passed in the third year, 
 and Section 14 of Chapter 13 of the Acts passed in the fifth year, 
 and Sections 23, 24 and 25 of Chapter 19 of the Acts passed in 
 the sixth year of the reign of His late Majesty King Edward VII. 
 
 11. This Act shall come into force on the 1st day of July, 1911. 
 
 Statutes of Ontario, 1911, Ch. 30, page 241. 
 
 36. An instrument, not purporting to convey the land therein 
 mentioned, but which in its nature is, or purports to be, given as 
 
101 
 
 a security to the payment of a debt or liability incurred by the 
 person executing the same in respect of a purchase or delivery 
 of any goods, or in respect of an advance or loan of money, shall 
 not be registered unless the affidavit of execution. Form. 6, states 
 that the instrument was read over and explained to the person 
 executing the same, and that he appeared perfectly to understand 
 the same and v/aa informed that it might be registered as an in- 
 cumbrance on his land. 
 
 10 Edw. VII (1910), p. 49Y. 
 
 68. Instruments of the nature mentioned in 36 may be dis- 
 charged and the land afEected thereby released therefrom by de- 
 positing in the proper registiy office a certificate of discharge. 
 iUd., p. 509. 
 
102 
 
 PEINCE EDWAED ISLAIJD. 
 
 1. From and after the coming into force of this Act, receipt 
 notes, hire receipts, and orders for chattels given by bailees of chat- 
 tels, where the condition of the bailment is such that the possession 
 of the chattel should pass without any ownership therein being 
 acquired by the bailee until the payment of the purchase or consid- 
 eration money, or some stipulated part thereof, shall only be valid 
 as against subsequent purchasers or mortgagees, without notice in 
 good faith for valuable consideration in the case of manufactured 
 goods or chattels, which at the time possession is given to the bailee, 
 have the name and address of the manufacturer, bailor or vendor of 
 same painted, printed, stamped, or engraved thereon, or otherwise 
 plainly attached thereto, and no such bailment shall be valid as 
 against such subsequent purchaser or mortgagee as aforesaid, unless 
 it is evidenced in writing, signed by the bailee or his agent. 
 
 2. Every manufacturer, bailor or vendor shall, on application by 
 any proposed purchaser or other interested person, within fifteen 
 days furnish full information respecting the amount or balance due 
 or unpaid on any such manufactured goods or chattels, and the 
 terms of payment of such amount or balance, and in case of refusal 
 or neglect to furnish the information asked for, such manufacturer, 
 bailor or vendor shall be liable to a fine not exceeding Eifty dollars 
 on conviction before a Stipendiary or Police Magistrate, or two 
 Justices of the Peace. Any person convicted under this Act, shall 
 have the right to appeal to the Supreme Court of this Island against 
 such conviction. In addition to his being liable to said fine, no per- 
 son who refuses or neglects to furnish the information required by 
 this section, shall be entitled to the benefit of his lien on the prop- 
 erty in question under any receipt note, hire receipt, or order as 
 aforesaid. The application mentioned in this section may be made 
 personally or by registered letter deposited in the Post Office, and 
 the Postmaster's certificate that such letter was registered, together 
 with the oath of the person who deposited the letter, shall be prima 
 facie evidence of the date and service of such application. 
 
 3. The person so enquiring (if by letter), shall give a name and 
 post office address to which a reply may be sent, and it shall be suf- 
 ficient if the information aforesaid be given by registered letter de- 
 posited in the post office within the said fifteen days, addressed to 
 the person enquiring at his proper post office address, or where a 
 
103 
 
 name and address is given as aforesaid, addressed to such person by 
 the name and at the post office so given. Provided always that the 
 person or persons making such enquiry by letter shall, at the time of 
 making such enquiry enclose with his letter of enquiry, postage 
 stamps sufficient to pay the postage on a registered reply to such 
 enquiry. 
 
 4. If any manufacturer, bailor or vendor of such chattel or chat- 
 tels, or his successor in interest where there has been a conditional 
 sale or promise of sale, take possession thereof for breach of con- 
 dition he shall retain the same for twenty days and the bailee or 
 his successor in interest may redeem the same within such period on 
 payment of the full amount then in arrear, together with interest 
 and the actual costs and expenses of taking possession which have 
 been incurred. 
 
 5. When the goods or chattels have been sold or bailed orig- 
 inally for a greater sum than thirty dollars, the same when taken 
 possession of as in the preceding section mentioned, shall not be sold 
 without five days' notice of the intended sale being first given to the 
 bailee or his successor in interest. The notice may be personally 
 served or may, in the absence of such bailee or his successor in in- 
 terest, be left at his residence or last known place of abode in this 
 Island, or may be sent by registered letter, deposited in the post 
 office at least seven days before the time when the said five days 
 will elapse, addressed to the bailee or his successor in interest, at 
 his last known post office address in Canada. The said five days or 
 seven days may be part of the twenty days in section four men- 
 tioned. 
 
 6. Section one of this Act shall not apply to household furniture, 
 but pianos, organs or other musical instruments are not included in 
 the term "household furniture," when it appears in this section; nor 
 shall section one apply to chattels where the manufacturer, bailor 
 or vendor within ten days from the execution of a receipt note, hire 
 receipt, order or other instrument evidencing the bailment or con- 
 ditional sale given to secure the purchase money, or part thereof, 
 shall file with the Prothonotary or Deputy Prothonotary of the 
 County in which the bailee or conditional purchaser resided at the 
 time of the bailment or conditional purchase, a copy of the said 
 receipt note, hire receipt, order or other instrument evidencing the 
 bailment of conditional sale. 
 
 Y. The Prothonotary, or Deputy Prothonotary on receipt of such 
 copy shall duly file the same and cause it to be properly entered in 
 an index book to be kept for that purpose, and shall be entitled to 
 
104 
 
 charge fifty cents for every such filing, and twenty cents for every 
 search in respect thereof. A clerical error which does not mislead, 
 or an error in an immaterial or non-essential part of the said copy 
 so filed, shall not invalidate the said filing or destroy the effect 
 thereof. 
 
 8. The manufacturer, bailor or vendor shall leave a copy of the 
 receipt note, hire receipt, order or other instrument by which a lien 
 on the chattel is retained, or which provides for a conditional sale 
 with the bailee, or conditional vendee at the time of the execution 
 of the instrument, or within twenty days thereafter. 
 59 Victoria, c. VI (1896). 
 
105 
 
 SASKATCHEWAN. 
 
 1. Whenever on a sale or bailment of goods of the value of $15 
 or over it is agreed, provided or conditioned that the right of prop- 
 erty or right of possession in whole or in part shall remain in the 
 seller or bailor notwithstanding that the actual possession of the 
 the goods passes to the buyer or bailee the seller or bailor shall not 
 be permitted to set up any such right of property or right of posses- 
 sion as against any purchaser or mortgagee of or from the buyer or 
 bailee of such goods in good faith for valuable consideration or as 
 against judgments, executions or attachments against the purchaser 
 or bailee unless such sale or bailment with such agreement, proviso 
 or condition is in writing signed by the bailee or his agent and regis- 
 tered as hereinafter provided. Such writing shall contain such a 
 description of the goods the subject of the bailment that the same 
 may be readily and easily known and distinguished : 
 
 Provided that nothing in this section shall apply to any bailment 
 where it is not intended that the property in the goods shall event- 
 ually pass to the bailee on payment of purchase money in whole or 
 in part or the performance of some condition by the bailee. 
 
 North-West Territories Consolidated Ordinances 
 (1898), p. 409. 
 
 "And provided further that nothing in this section shall apply 
 in cases of conditional sales or bailments of incorporated companies 
 to railway companies if the contract evidencing the conditional sale 
 or bailments or a copy thereof, certified under the hand of the 
 president or vice-president and secretary of the company and veri- 
 fied by an affidavit of the secretary thereto attached or indorsed 
 thereon and having the corporate seal attached thereto, is filed with 
 the registrar of joint stock companies within thirty days from the 
 execution thereof." 
 
 As amended, L. Saskatchewan (1908), Ch. 38, Sec. 6, 
 p. 619. 
 
 2. Such writing or a true copy thereof shall be registered in the 
 office of the registration clerk for chattel mortgages in the registra- 
 tion district within which the buyer or bailee resides within 30 days 
 of such sale or bailment and also in the registration district in which 
 the goods are delivered or to which they may be removed within 30 
 days of such delivery or removal verified by the affidavit of the seller 
 
106 
 
 or bailor or his agent stating that the writing (or copy) truly sets 
 forth the agreement between the parties and that the agreement 
 therein set forth is bona fide and not to protect the goods in ques- 
 tion against the creditors of the buyer or bailee as the case may be. 
 North-West Territories Consolidated Ordinances 
 (1898), p. 409. 
 
 "3. The seller or bailor, his executors, administrators or assigns 
 or his or their agent, shall within thirty days next preceding the 
 expiration of two years from the date of such registration file with 
 such registration clerk a renewal statement verified by affidavit 
 showing the amount still due to him for principal and interest, if 
 any, and of all payments made on account thereof and whether 
 or to what extent the condition, if any, of the bailment is still 
 unjaerformed, and thereafter from year to year a similar statement 
 similarly verified within the thirty days next preceding the expira- 
 tion of the year from the filing of the last renewal statement; and 
 in default of such filing the seller or bailor shall not be permitted 
 to set up any right of property or right of possession in the said 
 goods as against the creditors of the buyer or bailee or any pur- 
 chaser or mortgagee of or from the buyer or bailee in good faith 
 for valuable consideration. 
 
 "4. Any seller or bailor or agent of such seller or bailor making 
 any false statement in such renewal statement shall be liable on 
 summary conviction thereof to a penalty not exceeding $100. 
 
 "5. Any seller or bailor shall be bound by any statement made 
 by him or his agent in such renewal statement and the goods shall 
 be liable to redemption and the seller or bailor be divested of his 
 property and right of possession, if any, in the goods upon payment 
 of the amount actually due and owing in respect thereof, or upon 
 performance of the condition of the bailment by the buyer or bailee 
 or any person claiming by, through or under the buyer or bailee.'' 
 
 "10. For services under this Act, each registration clerk shall be 
 entitled to receive the following fees : 
 
 1. For each registration including stamping original or dupli- 
 
 cate, if any, with registration stamp, 25 cents; 
 
 2. For searching each name, 25 cents; 
 
 3. For each certificate or abstract of search, 25 cents; 
 
 4. For copies of documents, including certificate thereof, 
 
 every 100 words, 10 cents. 
 
107 
 
 "13. All affidavits required for this Act may be taken and 
 administered by the registration clerk and the sum of 25 cents shall 
 be payable for every affidavit thus administered." 
 
 As amended, L. Saskatchewan (1908, 1909), Ch. 15, 
 p. 151. 
 
 6. The seller or bailor shall upon payment or tender of the 
 amount due in respect of such goods or performance of the con- 
 ditions of the bailment sign and deliver to any person demanding 
 it a memorandum in writing stating that his claims against the 
 goods are satisfied and such memorandum shall thereupon operate 
 to divest the seller or bailor of any further interest or right of pos- 
 session if any in the said goods. Any such memorandum if ac- 
 companied by an affidavit of execution of an attesting witness may 
 be registered. 
 
 7. In case the seller or bailor shall retake possession of the goods 
 he shall retain the same in his possession for at least 20 days and 
 the buyer, bailee or any one claiming by or through or under the 
 buyer or bailee may redeem the same upon payment of the amount 
 actually due thereon and the actual necessary expenses of taking 
 possession. 
 
 North-West Territories Consolidated Ordinalnces 
 (1898), p. 409. 
 
 8. The goods or chattels shall not be sold without eight days' notice 
 of the intended sale being first given to the buyer or bailee or his 
 successor in interest. The notice may be personally served or may 
 in the absence of such buyer, bailee or his successor in interest be 
 left at his residence or last place of abode or may be sent by regis- 
 tered letter deposited in the post office at least ten days before the 
 time when the said eight days will elapse addressed to the buyer or 
 bailee or his successor in interest at his last known post office ad- 
 dress in Canada. The said eight days or ten days may be part of 
 the 20 days mentioned in section Y hereof. 
 
 As amended, Ste. Saskatchewan, 38, p. 619 (1908). 
 
 9. Copies of any instrument filed under this Ordinance certified 
 by the registration clerk shall be received as prima facie evidence 
 for all purposes as if the original instrument were produced and 
 also as prima facie evidence of the execution of the original instru- 
 ment according to the purport of such copy. And the clerk's cer- 
 tificate shall also be prima facie evidence of the date and hour of 
 registration or filing. 
 
 North-West Territories Consolidated Ordinances 
 (1898), p. 409. 
 
108 
 
 YUKON TEERITOEY. 
 
 1. Whenever on a sale or bailment of goods of the value of $15 or 
 over it is agreed, provided or conditioned that the right of property 
 or right of possession in whole or in part shall remain in the seller 
 or bailor notwithstanding that the actual possession of the goods 
 passes to the buyer or bailee the seller or bailor shall not be per- 
 mitted to set up any such right of property or right of possession 
 as against any purchaser or mortgagee of or from the buyer or bailee 
 of such goods in good faith for valuable consideration or as against 
 judgments, executions or attachments against the purchaser or 
 bailee unless such sale or bailment with such agreement, proviso or 
 condition is in writing signed by the bailee or his agent and regis- 
 tered as hereinafter provided. Such writing shall contain such a 
 description of the goods the subject of the bailment that the same, 
 may be readily and easily known and distinguished: 
 
 Provided that nothing in this section shall apply to any bail- 
 ment where it is not intended that the property in the goods shall 
 eventually pass to the bailee on payment of purchase money in 
 whole or in part or the performance of some condition by the bailee. 
 
 2. Such writing or a true copy thereof shall be registered in the 
 office of the registration clerk for chattel mortgages in the registra- 
 tion district within which the buyer or bailee resides within 30 days 
 of such sale or bailment and also in the registration district in which 
 the goods are delivered or to which they may be removed within 30 
 days of such delivery or removal verified by the affidavit of the seller 
 or bailor or his agent, stating that the writing (or copy) truly sets 
 forth the agreement between the parties, and that the agreement 
 therein set forth is bona fide and not to protect the goods in ques- 
 tion against the creditors of the buyer or bailee as the case may be. 
 
 3. The seller or bailor, his executors, administrators or assigns 
 or his or their agent shall within 30 days next preceding the ex- 
 piration of two years from the date of such registration file with 
 such registration clerk a renewal statement verified by affidavit 
 showing the amount still due to him for principal and interest if 
 any and of all payments made on account thereof and whether or 
 to what extent the condition if any of the bailment is still unper- 
 formed and thereafter from year to year a similar statement simi- 
 larly verified within the 30 days next preceding the expiration of 
 the year from the filing of the last renewal statement and in de- 
 
109 
 
 fault of such filing the seller or bailor shall not be permitted to set 
 up any right of property or right of possession in the said goods as 
 against the creditors of the buyer or bailee or any purchaser or 
 mortgagee of or from the buyer or bailee in good faith for valuable 
 consideration. 
 
 4. Any seller or bailor or agent of such seller or bailor making 
 any false statement in such renewal statement shall be guilty of an 
 offence and liable on summary conviction thereof to a fine not ex- 
 ceeding $100. 
 
 5. Any such seller or bailor shall be bound by any statement 
 made by him or his agent in such renewal statement and the goods 
 shall be liable to redemption and the seller or bailor to be divested 
 of his property and right of possession if any in the goods upon pay- 
 ment of the amount actually due and owing in respect thereof or 
 upon performance of the condition of the bailment by the buyer, 
 bailee or any person claiming by, through or under the buyer or 
 bailee. 
 
 6. The seller or bailor shall upon payment or tender of the 
 amount due in respect of such goods or performance of the con- 
 ditions of the bailment sign and deliver to any person demanding 
 it a memorandum in writing stating that his claims against the 
 goods are satisfied, and such memorandum shall thereupon operate 
 to divest the seller or bailor of any further interest or right of pos- 
 session if any in the said goods. Any such memorandum if accom- 
 panied by an affidavit or execution of an attesting witness may be 
 registered. 
 
 Y. In case the seller or bailor shall retake possession of the goods 
 he shall retain the same in his possession for at least 20 days and the 
 buyer, bailee or any one claiming by or through or under the buyer 
 or bailee may redeem the same upon payment of the amount actually 
 due thereon and the actual necessary expenses of taking possession. 
 
 8. The goods or chattels shall not be sold without five days 
 notice of the intended sale being first given to the buyer or bailee 
 or his successor in interest. The notice may be personally served or 
 may in the absence of such buyer, bailee or his successor in interest 
 be left at his residence or last place of abode, or may be sent by 
 registered letter deposited in the post office at least seven days before 
 the time when the said five days wiU elapse addressed to the buyer 
 or bailee or his successor in interest at his last known post office 
 address in Canada. The said five days or seven days may be part of 
 the 20 days mentioned in section 7 hereof. 
 
110 
 
 9. Copies of any instrument filed under this Ordinance certified 
 by the registration clerk shall be received as prima facie evidence 
 for all purposes as if the original instrument were produced and 
 also as prima facie evidence of the execution of the original instru- 
 ment according to the purport of such copy. And the clerk's cer- 
 tificate shall also be prima facie evidence of the date and hour of 
 registration or filing. 
 
 10. The registration clerk shall be entitled to charge a fee of 
 $2.00 for each registration including certificate of same on registra- 
 tion, 50 cents for each search, 20 cents per 100 words for copies of 
 documents and 50 cents for each certificate. 
 
 Yukon Territory Consolidated Ordinances (1902), p. 
 368. 
 
Ill 
 
 MEXICO. 
 
 Art. 69. In all contracts for the acquisition of material for the 
 equipment of a railroad, and of rolling stock, the contractors are 
 empowered to enter into the arrangement subject to the following 
 rules : 
 
 I- — Though the material sold may he delivered to the pur- 
 chaser, and the latter may enjoy the possession and use thereof, 
 the ownership shall not be transferred to the purchaser until the 
 price has been fully paid and the purchaser has performed all 
 the obligations of the contract, the vendor having in the meantime 
 the right of ownership over said material for all legal purposes. 
 
 II. — The parties are also authorized to enter into contracts 
 for the lease of said material, with a clause to the effect that the 
 leased material shall be transferred to, and become the property 
 of, the hiring company, and that the lease shall acquire the char- 
 acter of a sale, when said hiring company has paid the price of 
 hire according to the terms agreed upon and has performed all 
 the other obligations of the contract. In this case the price of hire 
 paid according to the contract shall become the price of sale, 
 upon the contract's losing the nature of a lease and becoming a 
 deed of sale. 
 
 III. — The contracts referred to in the two foregoing paragraphs 
 shall be executed in the form of public instruments and shall be 
 registered in the Commercial Registry of Mexico City. 
 
 In addition every car and locomotive that has been the object 
 of a contract of this nature shall bear a plate in a visible position, 
 on which shall appear the name of the vendor or lessor followed 
 by the word "owner." 
 
 IV.— In case the purchasing or hiring company shall default 
 in payment or shall not fulfill one or more of the obligations con- 
 tained in the contract, the vendor or lessor shall have the right 
 to take back all the material sold or leased and all payments made 
 under the contract shall be their gain. 
 
 V. — If the purchasing or hiring company makes all the pay- 
 ments whereto it bound itself, and fulfills all the obligations and 
 conditions embodied in the contract, this fact shall be recorded by 
 means of a public instrument to be registered as provided by 
 par. III. 
 
 Article 69 of the Eailroad Law of the Mexican 
 United States of April 29th, 1899. 
 
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