Upon payment of all legal accrued charges and the surrender to the warehouseman of a receipt, if the receiptholder and the warehouseman agree to continue the storage contract, the warehouseman may extend the storage contract or issue a new warehouse receipt to the owner and cancel the former receipt by endorsing on the receipt the words: “Canceled by the issuance of warehouse receipt no.                 “, inserting the number of the reissue warehouse receipt thereafter, and the holder’s name must be signed thereto by the holder or by the holder’s authorized agent. The reissue warehouse receipt must be designated by stamping on the receipt: “Reissue of warehouse receipt no.                    “.