How have lake-bills of lading been interpreted by the courts?

But I think the defendant itself has supplied the answer to this argument. The lake-bills of lading put in have the effect described by Lord Westbury in Shepherd v. Harrison (1871), L.R. 5 H.L. 116, at pp. 128, 129, where he says that “they,” meaning the shippers, “controlled the possession of the captain, and made the captain accountable to deliver the cotton to the holder of the bill of lading. The bill of lading was the symbol of property, and by taking the bill of lading they kept to themselves the right of dealing with the property shipped on board the vessel. They also kept to themselves the right of demanding possession from the captain. They had, therefore, all the incidents of property vested in themselves.” These words are as applicable to the defendant’s possession as to that of the captain, and the effect and significance of these lake-bills were well known to the defendant.