Page:Federal Reporter, 1st Series, Volume 1.djvu/765

 POETES V. EIKG. 757 �cure his assignment to be entered of record, nor did he give notice of it to the mortgagors. It was not until some consid- erable time after Gill had absconded, (which be did about September 17, 1877,) that the Lacocks first heard of the assignment to Pollock. �On the twelfth day of April, 1877, Wm. C. King purchased from Gill the said bond and mortgage. The bond waa then in Gill's hands. The mortgage he had left in the recorder's ofSce for record on April 3, 1877. King paid Gill, for the bond and mortgage, $4,800 or $4,900 in cash, and upon the back of the bond Gill executed, under his hand and seal, an assignment to King, bearing date April 12, 1877, of "the within bond and ail money secured thereby." There was nothing on the bond or mortgage to show any prior assign- ment, and King purchased the securities and paid the con- sideration therefor in good faith, and in entire ignorance of the assignment to PoUock. Shortly after his purchase King had the actual possession of both bond and mortgage, but, upon Gill's suggestion that he had a good safe in his office, and that it was convenient for him to collect the interest, King left the papers with him, taking the foUowing receipt : �"Eeceived from Mr, Wm. 0. King, April 25, 1877, the bond and mortgage of H. Lacock and Martha, his wife, dated March 3, 1877, for iive thousand two hundred dollars, for two years, interest payable semi-annually, which said mortgage and bond bas been assigned to him. I am to hold the same for saf e-keeping and collection of interest. �"S. B. W. Gill." �Gill also gave King (and he thinks at the same time he received the above receipt) the recorder's receipt, which then read as follows : �"Recorder's Office, Allbghenï Countt, �"PiTTSBUBGH, April 3, 1877. "Eeceived the following for record: One mortgage from Ilamilton Lacock to S. B. W. Gill. Assigned to W. C. King April 12, 1S77. $2.50 paid. �"E. J. EiCHARDSON, Eecorder." ��� �