It is the duty of United States storekeepers to check off the goods as
they are received at the warehouse and to report the same to the
custom house; and when goods are to be withdrawn to see that delivery
is not made until a custom house permit is presented. Upon payment of
the import duty on goods in bond at the custom house at any time after
importation, the customs officials issue a warehouse permit to the
importer ordering the United States storekeeper in charge of the
bonded warehouse to deliver the goods to the importer, and upon
presentation of the permit the goods are released unless the
proprietor holds them subject to storage charges.
Goods may be held in bond for three years with the duty unpaid, but
after that time either the duty must be paid or the goods exported. If
shipped to another country and afterward re-imported the goods would
again be entitled to the three-year privilege. If goods are not
exported and the customs charges are due and unpaid, the government
may dispose of the goods at public sale to obtain its claim.
Goods arriving by steamer and unclaimed lie at the wharf forty-eight
hours. If the owner does not appear to make entry for them within that
time, after the entry for the vessel has been made, the goods are sent
to a bonded warehouse and remain there on what is known as a general
order, and if they stand there unclaimed for a year they may, at the
expiration of that time, be sold by the government.
The capital of a warehouse is its storage space. The rates vary from
1/4 to 3/4 of a cent per cubic foot. The charges may be based on the
amount of space consumed and the weight of the merchandise. The latter
often determines the floor elevation to which the goods may be
assigned. The more convenient of access the storage location is, the
greater the cost. Warehouse receipts are issued as evidence of
storage. All merchandise is conveniently bulked for numbering and
marking, and these distinguishing marks appear on the receipts.
Negotiable and non-negotiable receipts are issued as the needs of the
owner may require. The former permit advances to be made by bankers
upon the merchandise as collateral security.