The San Francisco call., 1904-09-02
FORECLOSURE SALE.

FORECLOSURE SALEs
place in his hands or deposit W tn him at
the time of making the b,d as PIE g.
that such bidder will make OIL his u.
600 in money or certified check up n y
national bank, or upon any trust COM
pany in the city of New York, or $52o,Vvo.
face value of the bonds secured ~ aid
mortgage of the United States Shipbuild-
ing Company to The Mercantile Trust
Company, or, in case said mortgage snall
have been previously satisfied, $l5oOO race
value of the bonds secured by said mort
gage of the United States Shipbuilding
Company to the New York Security and
Trust Company.
The special master will next offer for
sale, separately and in one parcel all
that portion OF the mortgaged personal
property hereinabove described as the
SECOND PARCEL. In making such sale
the said special master will, pursuant TO
the directions of said DEGREES, accept no
bid for the property so TO be offered for
sale from any bidder for sum less than
$300, 900, nor from any bidder who shall not
place in his hands or deposit with him at
the time of making the bid, as a pledge
that such bidder will make good his Dd;
If accepted by the court, the sum of $6O,OOO
in money or certified check upon any ma
tlOnal bank, or upon any trust company
in the city of New York.
The certificate of any trust company IN
the city of New York that 1t holds bonds
as therein described secured by either OF
the said mortgages of the United states
Shipbuilding Company. subject to the or
der of the party named, and transferred
to the special master. will be received by
said special master and accepted in lieu
of the bonds specified in said certificate as
a deposit at the time of sale and on ac-
count of the payment of the purchase
price bid with like force and effect
though the bonds therein named had
been delivered to such special master.
OF the price for which said respective
parcels of property shall be sold, there
shall be paid in cash at the time OF sale,
the cash deposits hereinbefore required,
which shall be received as a part of the
purchase price and also, with respect to
each of the said parcels of property, there
shall be paid in cash, at the same time,
and from time to time thereafter, such
further portions of the purchase price OF
said properties as the court may dlrect;
and the court has reserved the right upon
the confirmation of the sale of the said
parcels Of property. or either OF them, to
charge the properties sold, or any part
thereof, with a lien to secure any such
further payment OF cash in an amount
then to be fixed by the court or to require
bond in lieu of any such lien. The ball
ance of the purchase price OF eacn
of the said parcels of property, not
required to be paid in cash or secured by
lien or bond as aforesaid, may be paid In
cash, or the purchaser may satisfy and
make good the balance of his bid. in whole
or in part. by turning in to be cancelled
or credited as hereinafter provided, out
standing bonds and overdue coupons ap-
pertaining thereto secured by said mort
gage Of the United States Shipbuilding
L
pany sail bonds and coupons being re-
ceived at such price or value as shall be
equivalent to the amount that the holder
or holders thereof would be entitled TO
receive thereon in case the entire pur-
chase prices Of all the properties covered
by said mortgage were paid in cash; or in
case said mortgage of the United States
Shpbuilding Company to The Mercantile
Trust Company shall have been previously
satisfied, said purchaser or purchasers
to be so cancelled or credited out
standing bonds and overdue coupons
appertaining thereto, secured by said
mortgage of the United States Shipbuild-
ing Company to the New York Security
and Trust Company, which shall be. like
wise received at value likewise COM
puted; but such payment in bonds Issued
under said mortgage to The Mercantile
Trust Company shall be subject to such
further order of the court may be
or priorities of the holders of any of said
bonds in respect to the distribution of the
proceeds of the sale of the premises COW
cred by the lien of said mortgage. as in
said DEGREES provided. All such bonds and
coupons that may be used to make any
such payment shall be surrendered to the
special master and cancelled II the whole
amount due thereon is applied upon the
purchase price, but il less than the whole
amount be so applied then the amount so
applied shall be stamped or written upon
such bonds and coupons, which shall then
be returned to the holder.
If any bid shall be accepted by the court
and the person making the same shall fa.l
TO comply with all the condi Ions OF .ale
and all orders of the court III respect
thereto, the sum deposited by the bidder
shall be forfeited and shall be app led as
the court may direct.
The court has reserved the right to re-
ject any bid AID 10 resell the mortgage
premises and property upon the failure of
any purchaser for five days to comply
with any order Of the court requiring pay
ment.
The said DEGREES nrovide that the mr.
chaser purchasers of the property
therein decreed to be sold shall be inve ted
with, and shall hold, possess and enjoy
the said mortgaged property thereby de-
creed to be sold, or so much thereof as
may be purchased by him or them respec-
lively, and all rights, privi eyes and fran
chises pertaining thereto. fully and
completely as the defendants in said con.
soidated causes or any of them, held and
enjoyed the same at the time OF the entry
of such DEGREES, or had theretof IRE held
and enjoyed the same respectively; and
further, that the said purchaser or Iur-
chasers shall be entitled to hold the said
property so sold freed ard discharged OF
and from the lien of the mortga ges fore
closed in said consolidated causes and
freed and discharged from @lI claims II
the parties to said suits or any of the m,
and every person represented by or claim
ing under or through them or any o. tn I'm
For further particulars ref rem l.
made to the above menti)nel DEGREES of
the said Circuit Court Of the United Stat
for the districts aforesaid or file wi h the
clerks of said courts respectively at Tren-
ton. New Jersey, and San Francisco. Cali.
fornia.
Dated August 6th 1904
JAMES SMITH, JR.. Special Master,
Newark, New Jersey.