520.Where a receiver takes possession of any wreck he shall within forty-eight hours—
(a) cause to be posted in the custom house nearest to the place where the wreck was found or was seized by him a description thereof and of any marks by which it is distinguished; and
(b) if in his opinion the value of the wreck exceeds twenty pounds, also transmit a similar description to the secretary of Lloyd’s in London, and the secretary shall post it in some conspicuous position for inspection.
