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Court may order goods in the possession, order, or disposition of the bankrupt to be sold, &c. 313. If any bankrupt, at the time he becomes bankrupt, ..., shall, by the consent and permission of the true owner thereof, have in his possession, order, or disposition any goods or chattels whereof he was reputed owner, or whereof he had taken upon him the sale, alteration, or disposition as owner, the Court shall have power to order the same to be sold and disposed of for the benefit of the creditors under the bankruptcy ...; but the provisions of this section shall not apply to any transfer or assignment of any ship or vessel, or any share thereof, made by way of security, duly registered according to the provisions of the laws in force for the registering of British vessels.[
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