New-York tribune., 1916-07-17
MASTERS SALES.
or roRFcIOsURE SALE.

NOTICE or FORECLOSURE SALE.
IN THE DISTRICT COURT OF THE
United states for the western DlstrIo'
Of Pennsylyania.-Bsnk Trust Company
Complainant. against The wabash Pitts-
burgh Terminal Railway Company, inc
Equitable Trust Company OF New YORK
and Henry W McMsster and Francis IL.
Skelding as receivers Of The wabash fitts-
burgh Terminal Railway Company. Defend-
snts-In Equity. No. IS. November Term'
1908.
Notice is hereby given that pursuant 70
q decree OF foreclosure and sale entered IN
the above entitled cause on January s.
1913, as modified by an order nled thereh
June =, 1915 and pursuant also 70 ancilsry
decrees Of foreclosure and sale In two
causes between the same parties entered IN
the District Courts OF the United states 10:
the Northern District OF West virginia ana
for the Southern District Of Ohio. Eastern
Division, on the 18TH day OF June. 1915, ana
the gath day OF June, 1916. respectively the
undersigned Special Master will oner Tor
sale on the 10Th day Of August; 1915. az
o'clock noon on that day. at the entrance
corner Of Liberty Avenue and Ferry street
TO the Passenger Station OF the defendant.
The Wabash Pittsburgh Terminal hsI"sy
Company situate at the intersection or
Liberty Avenue and Ferry Street, In the
CITY of Pittsburgh, State OF PennsylVania'
the railroads, franchises. property, prem
ises rights privileges and lmmunltles IN
said decree directed TO be sold. said rail-
roads franchises. property. premises rights
privileges aud immunities VIII be oHereo
/ for sale In one parcel ana AS an 'u'"cNy
The undersigned will accept no bid Tor sara
railroads. franchises. property premises
rights. privileges and immunities less than
Three million dollars S3.000.000) NO BID
/ will be received by the undersigned from
anyone Offering TO bid unless such person
so offering TO bid shall have nrst deposited
with the undersigned as Special Master, hs
pledge that he will make good his DID IN
/ case Of acceptance. the sum of Two hum
| dred and fifty thousand dollars (S2oO,OVo)
/ i'm cash or by certified check upon any
bank or trust company acceptable 70 tht
I undersigned. or bonds secured by the First
| MORTGAGE OF The wabash Pittsburgh Ter
1 minal Railway Company, dated May ~.
B 1904. mentioned in said decree or certn-
Gates of deposit therefor 10 the amount OF
Three million dollars (S3.Oo0,ooOl.
The undersigned will accept the highest
and best bid for said railroads. franchises.
property, premises. rights, privileges ana
immunities equal to or in excess OF Inree
million dollars $4,000 ,000), and VIII knock
down the property to such bidder therefor.
qualified as aforesaid. subject TO connrma-
ton Of the sale by the court.
I'pon the acceptance Of any bid, the per
son or persons making the same shall after
the application thereto OF any amounts
theretofore deposited by him or them in
cash make payment In cash to the UNDER
signed Of such an amount may be neces-
sary 10 pay and satisfy the costs or said
cause any allowance as shall be made 10
the complainant for It's services ana as
bursements and the services and disburse-
ments of it's counsel. the unpaid services
of the receiver or receivers and his or their
counsel any sums which may be allowed
bv the court in said cause, If any, 10 any
other party TO said cause or it's. his or their
solicitors any taxes which may be lien
upon the mortgaged estate, and the ooil-
cations OF the receiver or receivers in said
cause for moneys borrowed by him or them.
whether represented by receivers certih-
Gates or otherwise with interest thereon.
In case any bidder or purchaser shall
fail TO make good his bid upon lts accep-
OF the payments as In said decree provided
in contamination OF his purchase. then the
sums paid or deposited by such blddtr or
purchaser shall be forfeited as penalty
Tor such failure and shall be applied tow
ard payment of the expenses OF resale
and toward making good any deficiency or
loss in case the property shall be sold at "A
less price upon such resale and for any
other or further purposes that the court
may direct
ers OF said First Mortgage Bonds may bid
and purchase at said sale. lf any safe Tor
which a deposit has been made shall not
be confirmed by the court, sucN deposit
shall be returned to the bidder and the de-
posit OF any unsuccessful bidder shall be
returned to him when a bid other than
that made by him has been accepted
The balance Of the purchase price not
required 70 be paid In cash may be paid
either in cash or the purchaser may satisfy
and make good the balance OF his bid IN
whole or IN part by turning In TO De pald
count credited thereon, First Mortgage
Bonds or coupons.
The undersigned is authorized by said
decree in his discretion to accept tempo
rarily Instead Of bonds and coupons. the
certificate OF the Central Trust Company
OF New York. or OF any other trust com
pany Of which he may approve that IL
holds First Mortgage Bonds or coupons Is
sued under said First Mortgage OF the de-
fendant Railway Company subject 10 the
order OF the undersigned and Will deliver
them to him on demand for cancellation or
other disposition according TO the terms OF
the aforesaid decree.
The court by said decree reserves the
right to re-tske and resell the property
upon such notice as the court shall direct
in case the purchaser shall fail or omit TO
make any payment on account OF the pur
chase price in said decree required.
The purchaser or purchasers or MS or
their successors or assigns, snail, as part
OF the consideration and purchase price OF
the property purchased. I'm addition TO the
sums required 20 be paid. accept the prop
erty and receive the deed or deeds or IN
striiments OF transfer thereof upon the ex-
press condition that he or they or mis- or
their Successors or assigns snail pay, sa'
isfy and discharge any unpaid current IA
bflities. indebtedness and obligations or the
receivers or receiver In said cause, II any
such there be. other than moneys borrowed
and represented by receivers certificates or
otherwise provision for the payment Oh
which Is made in paragraph 2s OF said de-
cree which shall have been legally con-
tracted or Incurred by the receivers or re-
ceiver in said cause In the operation or on
account OF the railroads and other property
covered by said First Mortgage at any
time before said property shall be delivered
10 said purchaser or purchasers
In the event that such purchaser or pur-
chasers or his or their successors or as
signs shall refuse on demand TO pay any
such Indebtedness or liability as provided
In said decree. the person or persons hold
ing a claim therefor. when established BY
a court OF competent jurisdiction, may
upon ten days notice 10 said purchaser oi
nurchasers their successors or assigns, nlc
a petition In the above entitled cause q
have such claim enforced against tbs
property aforesaid, m accordance with
ihe usual practice in the case OF claim,
OF a similar character. and said pur
chaser or purchasers or his or their sue
cessors and assigns shall have the righ
4 10 appear and make defense 10 any claim
/ debt or demand SO sought 90 be enforced
/ and either party shall have the right q
appeal from any judgment. decree or orde
made thereon or in respect thereto.
The purchaser or purchasers or his o.
their successors or assigns shall have TIT
! right and are required az OF before the de
/ livery of the deed to him or them for tn
property sold 70 enter hts or their appear
l ance IN the above entitled cause ana ne %
! they shall have the right TO contest an
! claim demand or allowance existing ~ IN
. -. o.tsfs slr.a ~ L.