New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-08-07
MASTERS SALE.
NOTICE OF SALE

pnnS' 1uoson River Electric Comnanv Hud-
sailston s.. r Irs, tra p0T, Company,
$50 ss Gas, Elestric Light & Power Com
PAM. Empire State Power Company. and
TasnnS county Gas & Electric Company.
closure Tan,d Equity. Fore
,, NOTICE IS HEREBY GIVEN that pur-
entitled oo, oecree entered in the above
seaity. dated the 18th DAY OF july 1911.
t5s a S guy entered and filed in the office OF
Tor the s No OF tne United States Circuit Court
Ca. n. y, on the 18th day OF July, 1p1i,
:, me unoerslsned, Special Master appointed
hsrs, na sy SAD decree 70 make the sales
o. August, 1911. at eleven O'clock In the
forenoon or that day. NJ the main entrance
OF Sne county Court House in the Village
OF ISaIlston Spa. County OF Saratoga, state
OF New York, offer for sale and sell at public
auotion TO the highest bidder or bidders
.nereIor, upon the terms and conditions
ars ns1., N seld decree and upon the terms
WIG conoiuons herein set forth, the property
ana premises. real. personal. and mixed
Isn'S' privileges, and franchises hereina fter
an. ane N ne mortgages foreclosed in and by
mortgage made bv the Hudson River Wat .r
tower company 20 The Trust Company Of
&lnerlca, as Trustee. dated the 18th day OF
November. 1929 and the mortgages supple
mental thereto, securing an authorized issue
OF s-oOg 700 OF bonds; Mortgage made by
Eudson River Electric Company to the Nor
Ietn day OF December. 1901, end the mort
gage supplemental thereto. securing an an
ihorized issue OF 50, 600 900 Of bonds; Col
lateral Mortgage made by Hudson River
water Power Company 20 the Morton Trust
Company: as Trustee. dated the 10Th day OF
H fpS 1902 sr. securing the guaranty by The
payment Of the principal and interest Of the
aforesaid SO, 900 900 OF bonds OF the Hudson
RIVER Eleetrie COMPANY: Mortgase made by
70 Knickerbccker Trust Company. as Trustee,
dated the % day Of January, 1904 and the
nortgage supplemental thereto. securing an
lateral Mortgage made by Hudson River
Water Power Company 70 the Kncker-
booker Trust Company, as Trustee. dated the
sth day OF April. 1908. securing the guar
anty by the Hudson River Water Power
COMPANY OF the payment OF the princirai
and interest OF the aforesaid IS 900 900 OF
Company; Retunding Mortgage made By the
Hudson River Power Transmission Company
70 the knickeroocker Trust Company, as
Trustee. dated the 18th day Of June. 1908.
securing an authorized issue Of s. $50 600 or
Refunding Bonds, OF which $3.50. 600 in face
value are outstanding: Mortgage made by
pany 70 the New York Security Trust
Company. now known as The New York
Trust Company as Trustee. dated the Isl
day % February. 1897, securing an author
ICED issue OF 5000 600 OF bonds. Of which
500 in face va,us are now outstand-
ing: First Mortgage made by Madison Coun-
L u
American Trust Company. now known as
ghe Trust Company OF America) as Trustee.
dated the 1st day OF January. 1902. securing
an authorized issue Of 5000 900 Of bonds;
First Consolidated Mortgage made by Madi-
son County Gas g. Electric Company 20 the
North American Trust Company now known
as The Trust Company OF America as
Trustes dated the LIST day OF August. 1904.
securing an authorized issue OF $500 or
bonds, Of which $50 600 in face value are
now outstanding: excepting however there
frft ho ~faa ~ a
Gas and Electric Company, which VIII %
sold az another time and place as herein
after provided
The several properties hereby respectively
noticed for sale will be sold subject 20 al
taxes. assessments, and other public charges
hargeable upon the said respective proper
said respective properties foreclosed by the
terms Of said decree, and each and N or
the aforesaid respective properties viii be
sold subject also 70 any mortgages which are
prior in lien thereon 10 the respective liens
and respective mortgages foreclosed IN the
aforesaid consolidated cause. existing IN favor
OF any person or persons. corporation or
corporal lions, not party 10 the said con-
solidated cause. or TO any OF the causes aris-
closure consolidated herein. A statement or
the approximate amounts and general char
acter Of said prior liens or encumbrances
Will be read at the sale. The properties sold
hereunder upon the foreclosure OF the Re-
funding Mortgage OF the Hudson River
Power Transmission Company VIII be sofa
subject 70 fhe DrlOT ana superior UlDi Nhdeo
o, the Hudson River Power transmission
Company made 70 The Mercantile Trust Com
pany. as Trustee, dated March 10TH, IsSs,
10 secure an authorized issue OF 100000 IN
face value OF bonds. all OF which are now
outstanding.
IT shall be condition Of the sale Of
each Of the properties, real and personal
described herein and hereby offered for sale.
that the purchaser or purchasers shall, as
part Of the consideration for such sale
and in addition 70 The price bid, assume ana
discharge any and all claims that shall be
finally determined by said Court, upon In
terventions filed ny any creditor. other than
a bondholder, of any OF said mortgagor COM
panles to have a lien superior In rank 10
the lien Of the respective mortgages; Pro-
vided. hoyever. that such claims shau De
before the DIST day Of August. 1911 other
wise such claims not so asserted shan oe
barred from participation IN the benefits IN
said decree provided. The said purchaser
or purchasers shall also assume all pending.
uncompeted and not fully executed con-
tracts in respect 20 such property so PUT
chased whether leasehOld or otherwise maze
in the name OF the respective companies, by
the Receivers since their appointment IN the
creditors bill IN equity on the Dist day or
October 1908, or in the foreclosure causes
thereafter instituted therein. made by tho
said Receivers in their own names as Re
ceivers. for the operation. MAINTENANCE and
bAtternent 81 the respective plants and syS-
TENS operated by such Receivers as q going
concern, and shall also assume liability TOT
all claims in tort or for negligence OF me
Receivers or their agents. servants or en-
plovees whether In suit or presented or not.
arising during the period Of operation OF the
respective plants by said Receivers appointed
paid and discharged by said Receivers ny
the time OF the delivery OF the deed under
said sale 20 the purchaser or purchasers or
his 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 80
days notice 10 such purchaser or pur-
chasers their successor or successors. as
said Circuit Court 10 have such claim en-
forced against the respective property
aforesaid IN accordance with the usual
practice Of said Circuit Court. And such
purchaser or purchasers. and his or thei-
successor or successors. assign or assigns,
shall have the right 10 appear and make de-
sought 10 be enforced. and either party
shall have the right 10 appeal from any
Judgment. decree or order made thereon.
Jurisdiction Of said cause Is retained ~
N. said Circuit Court for the purpose Of
enforcing the foregoing provisions in said
decree contained. and the said Circuit Court
reserves the right 20 re-take ana resell
chaser or purchasers. his or their successors
or asst gns. shall fail 70 comply with any
order OF the said Circuit Court in respect 70
raynient Of such indebtedness. Obligation
or liability within thirty 800 days after
service Of a certified copy or such order
30 purchaser viii be held personally
liable under Article XIII Of said decree for
any unpaid Indebtedness of the Receivers or
for any work done or materials furnished
under any unfinished contract. except such
as shall have been done or furnished after
the delivery Of possession ot the properties
sold TO such purchaser and Win MS con-
sent Subject 10 that exception. the SAID
method in said decree provided for en-
forcing the liability Of the purchaser for the
unpaid indebtedness and other obligations
OF the Receivers for their unfinished
contracts shall he exclusive % all other
remedies.
The purchaser or purchasers 81 the saif
properties or any 81 the said parcels snail
b deemed 10 have purchased all contracts
those for the sale Of light. heat
and power made BY the respective mort
ragor comnanies prior 70 the appointment
~ the Receivers on October 81, 1908. IN
less the said purchaser or purchasers shall
within six months after confirmation OF the
eois or sales hereunder. file IN said Circuit
Cour, with the Clerk thereof an election
~ writing not 10 take or assume such OF
said contracts as are specifically set torth