New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-08-21
MASTERS SALE.
NOTICE OF SALE.

son River Power Transmission Company
Ballsion Spa Light d Power Company, Sar-
atoss Gas, Electric Light Power Com
pany. Empire State Power Company. and
Madison County Gas & Electric Company,
Defendants.-In Equity.-Consolidate Fore:
NOTICE is HEREBY GIVEN that pur-
suant to decree entered in the above
emitted consolidated foreclosure cause in
equity, dated the 18th day OF July 1911,
and duly entered and filed in the office OF
the clerk OF the United States Circuit Court
ior tne Northern District OF New York. at
ICos, y. T., on the lsth day OF July. 1911,
J. the undersigned, Special Master appointed
IN and by said decree 10 make the sales
hereinafter mentioned will on the Goth day
OF August 1911. at eleven o'clock in the
forenoon OF that day. at the main entrance
OF the County Court House in the Village
OF Balston Spa. County OF Saratoga, State
OF New York. offer for sale and sell at public
auction 70 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
ssid decree more fully described. TO wit:
Mortgage made by the HUDSON River Water
Power Company 20 The Trust Company Of
America. as Trustee. dated the 10Th day OF
November, 1859, and the mortgages supple
mental thereto. securing an authorized Issue
Of $1,000 600 OF bonds: Mortgage made by
Hudson River Electric Company TO the Nor
Ton Trust Company. as Trustee dated the
A'hA Jay VI AcNtluOclt ltO4t anu Alic llOI -
sage supplemental thereto, securing an au-
thorized Issue OF s. eO0.o0O OF bonds; Col
Vera vera p Mortsags made ~ HUDSON Ty ..
Company. as Trustee, dated the 10Th day OF
July 1902 securing the guaranty by tho
Hudson River Water Power Company OF the
payment OF the principal and interest OF the
aforesaid 81, 600 O0O Of bonds OF the Hudson
River Electric Company; Mortgage made BY
the Hudson River Electric Power Company
10 Knickerbocker Trust Company. as Trustee,
dated the I'd day Of January. 1904. and the
mortgage supplemental thereto. securing an
authorized issue OF S. 0O0. 900 OF bonds; COL
lateral Mortgage made by Erdson River
Water Power Company TO the Knickcr-
booker Trust Company. as Trustee, dated the
sth day OF April. 1905 securing the t guar
Company OF the payment OF the principal
and interest OF the Aforesaid S5.WO,OOO or
bonds Of the Hudson River Electric Power
Company; Pefunding Mortgage made by the
Hudson River Power Transmission Company
10 the Knickerbocker Trust Company as
Trustee. dated the 18th day Of June, 1908.
securing an authorized issue OF $3.50 600 OF
Refundlng Bonds OF which s7D.OOO N face
value are outstanding: Mortgage made by
Saratoga Gas. Electric Light Power Gom.
Company. now known as The View YORK
Trust Company as Trustee. dated the ISL
day OF February lSgI' securlnS an au. st.
lied issue OF SEQ 600 OF bonds, OF Yhich
s123. 500 in face value are now outstand-
ting; First Mortgage made by Madison Coun-
" Gas & Electric Company 70 the North
The Trust COMPANY OF America as trustee
dated the LIST day OF Janusry, ieO2, securing
en- authorized issue OF S2ooOno OF oondS'
First Consolidated Mortgage made by Mail-
son County Gas e. Electric Company 70 the
North American Trust Company, now known
as The Trust Company OF America as
Trustee. dated the 1st day OF August, lSo4:
securing an authorized issue OF $500 oee OF
bonds, OF which $50 600 in face value are
now outstanding; excepting however tAere-
from the properties Of the Macis3n DGiIn !.
sold at another time and place as herein
after provided. .,,
The several properties hereby r.spectively
noticed for sale will be sold subject 70 al
taxes. assessments. and other public charges
charceable upon the said respective proper
ties prior 10 tho lien OF the mortgages s , On
said respective properties foreclosed by TIE
terms Of said decree. and each and al OF
the aforesaid respective properties VIII oe
sold subject also 20 any mortgages whicn arc
prior IN lien thereon - the respective mems
and respective mortgages forecioSed IN me
aforesaid consolidated cause. existing IN faVor
Of any person or persons, corporation OF
corporations, not a party 10 the SAID con-
soI!datsd cause, OF 70 any OF the causes aris-
ing upon the bills or cross-bills OF fore-
closure consolidated herein. A statement OF
the Approximate amounts and general char-
acter Of said prior liens or encurh-anoes
will be read at the sale. The properties sold
hereunder upon the foreclosure OF the Re-
Power Transmission Company will be sold
subject TO the prior and superior mortgage
OF the Hudson River Power Transmission
Company made 20 The Mercantile Irust Son ON
pany as Trustee. dated March l5th, 1888,
10 secure an authorized issue Of 100000 IN
face value OF bonds. all OF which are now
outstanding.
Il shall be. condition OF the sale OF
each Of the properties. real and personal
described herein and hereby offered tor SAFE,
that the purchaser or purchasers shal4' as
e part OF the consideration Ior such s are
and in addition 20 the price bid. assume and
pay oil sums. - any, required 10 pay ana
discharge any and al claims that shal ne
finally determined by said Court, upon In
terventlons filed hy any creditor. otnsr than
q bcndholder, OF any OF said mortgagor COM
pan!es, 10 have a lien superior In rank 10
the lien OF the respective marriages; FRO
vided. however, that such claims shalI De
asserted herein by intervention filed on or
before the 2lst day OF August, lyll other-
wise such claims not so asserted shaH De
barred from participation IN the beneit-5 IN
SAID decree provided The said PURCHASER
or purchasers shall also assume all penclng'
uncompleted and not fully executed con-
tracts In respect 20 such property so PUT
chased whether leasehoid or otherwise, made
IN Tire name OF the respective companies py
the Receivers since their appointment N me
creditors bill In equity on the DIST GAY OF
October 1908, or in the foreclosure causes
thereafter Instituted therein. or made D. me
said Receivers in their own names as Re-
Ceivers, for the operation. maintenance ana
hetteru1crt OF the respective plants and sys-
tens operated by such Receivers as gong
concern, and shall also assume liability for
Receivers. or their agents. servants or en-
ployees, whether in suit or presented or not
arising during the period or operation or me
respe,tiv plants by said Receivers appointed
nv said Court which shall not have been
paid and discharged BY said Receivers by
the time Of ne delivery Of the deed under
said sale 20 the purchaser or purchasers, or
bis or their assigns or successors.
In the event that such purchaser or pur-
chasers shall refuse after written demand
made 70 perform any such contract or 10
discharge any such indebtedness, obligation.
or liability. the person or persons holding
the claim therefor may, upon fifteen IJj
days notice 20 such purchaser or pur-
chasers. their successor or successors. as
sign or assigns. file his or their petition in
said Circuit Court 20 have such claim en-
forced against the respective property
aforesaid in accordance with me usual
practice OF said Circuit Court And such
purchaser or pur hasers. and his or Their
successor or successors. assign or asslgns'
shall have the right 10 appear and make ce-
Tense TO any claim. debt or demand so
sought TO be enforced. and either party
shall have the right 10 appeal from any
Judgment decree or order made tneTe9h.
Jurisdiction OF said cause is retained by
the said Circuit Court FOR the purpose OF
enforcing the foregoing provisions In said
decree contained. and the said Circuit Court
said respective properties in case the pur-
chaser or purchasers. his or their SUCCESSORS
or assigns. shall fail 20 comply with any
order of the said Circuit Court in respect 20
payment OF such Indebtedness, Obligation
Or liability within thirty GOD days after
service OF n certified copy Of such order.
No purchaser VIII be held personally
liable under Article XIII OF said decree Tor
anv unpaid indebtedness OF the Receivers or
f1r any work dore or materials furnsh"d
under any unfinished contract. except such
ss shall have been done or furnished afier
,Ne delivery OF possession OF the properties
sOld 10 such purchaser and with MS con-
renf. Subject 10 that exception, me said
method In said decree provided for en-
forcing the liability OF the purchaser for tne
f,npsfd indebtedness and other Obligations
~ the Receivers or for their unfinished
contracts shall be exclusive az az othsr
remedies.
Tho purchaser or purchasers or the Sild
-r5perttes or any Of The said parcels shalI
he deemed 70 have purchased all contracts
ineiuding those for the sale OF light. heat
snd mower made hv the respective mort
rago~ COMPANIES prior % the appointment
- fbe Receivers on October 81, lSos' un-
less the snid purchaser or purchasers sha-I.
within six months after confirmation or me
eoie or sales hereunder. file in said circuit
CCr-t with the Clerk thereof an election
IN writing no. 70 take or assume such ot
ssia contracts as are specifically sci torth
An aid election and no performance or any
such contract by such purchaser or put
tim ~