assigned by the Motor Company to the other defendant, M. & J. Finance Company.


4
Three days after the appointment of the receiver by the state court, Mr. Medlin and a Mr. Owens, an employee of the Valve Company, went to the office of the Finance Company, advised it that the Valve Company was in receivership, and sought to arrange for the automobile to be taken over by Owens.  On the same day the Finance Company obtained possession of the automobile and later resold it to the defendant Motor Company, for the balance then due on the mortgage, which the bankrupt had not substantially reduced since the original transaction in July.  The value of the automobile when the Motor Company obtained possession of it was $2200.00, almost enoughconstructive notice binding upon third parties dealing with the true owner.  It is, at least as to third parties, as though no mortgage had been made.  In its interpretation of the North Carolina recording statutes, the Supreme Court of that State has insisted on strict compliance.


19
Thus, the Court has held that a conveyance by J. Frank Crowell, indexed under the name of J. L. Crowell, was not notice the J. Frank Crowell had conveyed the property.  Dorman v. Goodman, 213 N.C. 406, 196 S.E. 352.  And a deed of trust indexed in the full name of one of several grantors, with the others indicated under the abbreviation 'et als.,' was not adequate notice to purchasers at a sale under a subsequent deed of trust