New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-07-31
MASTERS SALE.


pany Hudson River Electric Company. Hud-
Palston spa Light q Power Company. sar-
atoga Gas, Electric Light Power COM
pany, Empire state Power company, ana
Defendnnts-In Equity.-Ccnsolidated Fore
closure Cause.
NOTICE IS HEREBY GIVEN that pur-
Buant to a decrea entered in the above
entitled consolidated foreclosure cause IN
equity, dated the 18th day OF July, 1911,
and duly entered and filed in the effiee %
the Clerk OF the United States Circuit Court
for the Northern District Of New York, al
Tcea- \. ~. on the l4th day OF July, lslli
In and by said decree 10 make the sales
hereinafter mentioned. will on the 10Th day
forenoon OF that day. az the main entrance
OF the. County Court House IN the Village
Of Bal!sion Spa. County OF Saratoga, siaie
auction 10 the highest bidder or bidders
therefor, upon the terms and conditions
prescribed IN said decree and upon the terms
and conditions herein set forth, the property
and premises. real, personal. and mixed.
rights, privileges and franchises hereinafter
and In the mortgages foreclosed IN and by
said decree more fully described. 10 Wit:
Mortgage made by the Hudson River Water
Power Company 10 The Trust Company Of
November 1929, and the mortgages supple
mental thereto. securing an authorized issue
Hudson River Electric Company to the Nor
ism dav OF Decer1be-. 1901, and the mort
ihorized issue of So coo 600 Of bonds; col
lateral Mortgage made by Hudson River
Water Power Company 20 the Morton Trust
Company. as Trustee. dated the 18Th day OF
July, 1902 securing the guaranty by. the
payment Of the principal and interest OF the
aforesaid $1,000 600 Of bonds Of the Hudson
River Electric Company; Mortgage made by
the Hudson River Electric Power Company
10 KnickerboCkcr Trust Company. as Trustee,
dated the % day OF January. 1904. and the
mortgage supplemental thereto. securing an
nf.~s- Al Frcfra % f1f Minds
lateral Mortgage made by Hudson River
Water Power Company % the knicker-
booker Trust COMPANY as Trustee dated the
Sth day OF April, 1908. securing the guar
snty by the Hudson River Water Power
Company Of the payment o. The PRINCIPAL
ana interest Of the aforesaid s. o0o, 600 Of
bonds OF tire Hudson River Electric Power
Company; Retunding Mortgage made by The
70 me Knlckerbocker Trust Company, as
Trustee, dated the 18th cay o. June l9o5,
securing an authorized issue OF 81, 600 or
Refunding Bonds. OF which $3.50. 600 n tacs
value outstanding: Mortgage made BY
Saratoga Gas, Electric Light & Power Gor1-
pany 10 the New York Security 1rust
Company. NOW known as The New YORK
Trust Company as Trustee. dated the lst
DAY OF February. 1897, securing an author
lied issue OF 5000 600 OF bonds. Of waich
SOB 500 in face value are now outstand-
ing; First Mortgage usds by Madison Coun-
t. Gas & Electric Company 70 the North
American Trust Company. now known az
The Trust Company Of America as Trustee
dated The 1st day OF January, 1907, securing
an authorized issue OF N-NNNNU OF Dpl4.4Sf
First Consolidated Mortgage made by Madi-
son County Gas 3 Electric Company 70 tAs
North American Trust COMPANY now known
as TIE Trust Company Of American as
Trustee. dated the LIST day OF August i9o+:
securing an authorized issue Of 100000 OF
bonds, Of which $50 900 IN face value are
now outstanding; excepting however mere
from the properties OF the Madison County
Gas and Electric Company, when vi %
sold az another time and place as herein
after provided. &.
The several properties hereby respectively
noticed for sale viii BE sold subject 20 all
taxes. assessments, and other public charges
charCe6ble upon the said respective proper
t!es prior 70 the lien q ne mor,gas-s on
said respective properties toreclosed BY the
terms of said decree, and each and al OF
TIE aforesaid respective properties VIII he
sold subject also 10 any mortgages which are
-rior in lien thereon 20 the respective liens
s-s -esrs-tive mortgages fore-losed IN tho
aforesaid consolidated cause, existing n faVor
co--o-s,iors. not a party 10 the SAID con-
sol!dsted cause. or 10 any Of the causes er's-
ing upon the bills or cross ol.ls OF l9'ss
closure consolidated herein. A statement OF
the Approximate amounts and general char
acter OF said prior liens or er-uTbran- IS
vii bA Rad At he sale Tho properties sold
te-snT5er mon the Foreclosure o. the Pc
funding Mortgage Of the Au1son RIVER
Power Transmission Company Wiz % sola
subject 20 the prior and superior mortgage
Of ne Hudson River Power Transmission
COMPANY made 20 The Mercantile Trust COM
panv as Trustee. dated March l5th' ls5s,
70 secure az Authorized issue o. 100000 in
face value Of bonds. al OF which are now
outstanding.
t shall Be a condition Of the sale Of
each Of the properties real ard personal
described herein and hereby offered tor sale,
tina; the purchaser or purcnasers taa--' as
and In addition 70 the price bid. assume and
pay all sums, II any, required 20 pay ana
discharge any and al claims , mat ,, s5al De
terventions filed by Cny creditor. other than
p boudholder OF any Of said morJgagor com
psules, 70 have a Hen superior IN rank 70
liam If 90 r
asserted herein by Intervention t!led on or
before the 21st day Of August. 1911, other
vrisA such claims not so asserted shall 30
barred from participation n the oeneli-s III
or purchasers shall also assume all pending.
uncompleted and not fully exeNuted con-
tracts In respect 10 such property so pur-
chased. whether leasehod or otherwise, nade
IN the name % the respective companies, ~
the Receivers since their appointment N the
creditors biz in equity on the 6lst day or
October 1905. or IN 30 foreclosure causes
thereafter instituted therein. or made by the
said Receivers in their own names as be-
ceivers. for the operation. maintenance and
be.teruent OF the respective plants and svs-
tens. operated by such Receivers as going
concern and shall also assume liability for |
all claims n tort or FOR negligence OF mo !
Receivers, or their agents. servants or en-
ployees. whether In suit or presented or not /
arising during the peSiod Of operation OF me
respective plants by said Receivers appointed |
hv said Court. which shall not have been /
paid and discharged by said Receivers by |
-se tine Of the delivery of the deed under |
said sale 70 the purchaser or purchasers or !
his or their assigns or successors.
In the event that such purchaser or pur-
chasers shall refu>~ after written demand [
made 20 perform any such contract or 20 /
discharge any such indebtedness, obligation, |
or liability, the person or persons holding |
the claim therefor may, upon fifteen l5i /
Gays notice 20 suCu purchaser or pur-
crsgArs their successor or SUCCESSORS. as
sign or assigns file his or their petition n
said Circuit Court 20 have such claim en-
forced against the respective property /
r,ractirs OF said Circuit Court And such
purchaser or purchasers, ana his or Their |
successor or successors. assign or assigns
shall have The right 10 appear ard MAKE &C.
fenEA 10 any claim. debt or demand 80
sought 20 De enforced, and either party |
shall have the right 70 appeal from any
lIdg-ent. decree or order made thereon.
Jurisdiction OF said cause y retained BY |
the said Circuit Court for the purpose or
decree contained. and the said Circuit Court
reserves tho right 70 re-take ana resell |
chaser or purchasers, bis or their Buccessors
or signs shall fail 70 comply with any |
order OF ne said Circuit Court IN respect 20
the performance OF such contract or me |
r1svrnent Of such Indebtedness, obligation
or liability within thirty 600 Gays after
service Of certified copy. OF such order.
liable under Article xxi Of said decree for !
any unpaid indebtedness OF tho Receivers or |
So- auy work done OF materials furnished !
under any unfinished contract. except such !
as shall have been done or furnished after
the delivery OF possession Of the properties
e5lf 10 such purchaser and with his con-
sent Subject 10 that exception, the SAID |
method in said decree provided for en-
f1r~in1 the liability Of the purchaser for the
I,npaid Indebtedness and other obligations
~ the Receivers or FOR their unfinished |
contracts shall be exclusive u al oiher
remedies.
The purchaser or purchasers % the said
r,rgnerties or any % the said parcels. shall |
be deemed 70 have purchased al contracts.
bonding those for the sale OF light heat. |
and power made by the respective mort I
rago- companies prior 20 the appointment /
~ the Receivers on october 81, 1905. IN
less the said purchaser or purchasers snail, |
v,ifblr six months after confirmation ~ the /
sale or sales hereunder. file IN SAID circuit /
go, Nth the Clerk thereof an election /
in writing not 20 take or assume such ~ /
ssd contracts as are specifically set forth /
a. ro,6 eiec,ion: and no Performance OF any /