It shall be the duty of every junk dealer and of every person in his employ, to admit to his premises during business hours any member of the Police Department to examine any record on the premises, as well as the articles purchased or received, and to search for and take possession of any article known by him to be missing or known or believed to have been stolen, without the formality of a writ of search warrant or any other process.
(1961 Code Sec. 735.08)