New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-19
MASTERS SALE

ci-k and partly ~ Reiurdins Bonds. lui ~ we
'S,' 10 cass ~ P.,,.ls and D. When offered 20. ,
rp'her the sx.regate o. such surs 10 casa OF .,
ceruned CHECK as Aforesaid, or iae asS s,osais =.
would be reaulred under the foregoing CLAUSES
and I to qualify said person 20 bid fer CON o. shd
s. In c,se Of Parcel Z. when O-ercd sep.r,tsly.
the sum Of $50 900 in cash certified ceeck on :
som. national bank or trust eompRy III We ~
Of New York or In the City or DegoA AacsP.AO.s
to the Special Master and made or encoIsea pay
sble to his order. or $Sooo.eoo race sno'h 80, .,
principal Of Improvement Bonds IN oeAIer lorfn
and In coupon bonds accompanied by the coupon [
81 September ]. 1912. and all subsequent eoupo4s'
such dppoIt may be made partly IN caSh or ceEu- :
nsd check and partly in irnprcvsms Bonds BIZ, in
tie relative proportions.
Z In case o, Parceis {. ID ard T. when onefed
together the aggrcgate o. such sums IN cash OF oJ
certified check as Aforesaid. or the asrresate o.
0onds q s1ea character and 70 sued Ac s,,l,.
and to qualify ssAd person to bid fof al OF sSd
Parcels c. u and z.
offered as IN enire;y. the ssgresa,e Q. sven sulns
in cash or by certified cheek as Aforesaid. or the
aggregate Of recsiVcss cs,l0,s.es q o.aas .,
claims with transfers thereof o. such eh'rscter ara
TO such amounts as would be required under the
foregoing clauses l. ,. ,. and 9, 10 cuaiiiy sad
In lieu 0, tbs deposit Of receyers' certificates
bonds. and cougen. and claims - WIN ganas
sny o. item the special Master will sccep, the Ger
hhcets q Dy ns,ionsl bank Or trls' comp,n,
or IN the City OF Detroit acceptable % the Special
Master. that 1t holds. as the case may be- rersiv-
els certificates. bonds OF the required character
in negotiable form snd. If IN coupon iorn accom-
panied by the required coupons. or Claims OK We
Teqnred character WIN proper u, ,ns,.1n nsm.d
said Certificate being ~ him transferred 10 mo
order Of said Special Master. A deposit made oy
any bidder FOR separate Parcel may, 80 fsr as
applicable bo spvlied on account Of the deposit r.,
auired 10 be made in ortler 10 qualify him 10 bid
Tor said Parcel when offered together with cne OF
mo oil pr
offered Tor sale IS an entirety, depcsi,, made
by any bidder ZOE the entirety viii also qualify such
Any deposit received FROM unsuccessful bid
der will be returned to him when the property
lie successful bidder or bidders will DO applied
account Of the purchue price q the property.
The spSia, Master will no. .SSept 81 any sos o Sc
for Parcel Il. less than tho sum on NSeeoO' ior
Parcel {. less than the sum Of - 700 700; tor
rsr.s. and D Wv, when orered together. les than
tho sum Of $500 900; for Parcel 1, less than me
sum Of $4,000 for Parcels c. ID and 2 when
offered together less than the sum 81 So. $4,000:
Tor rarces B. & and ., ,S Sh IsS o Sne'sd Is al
vi In ease any bidder. upon the acceptance q
bis bid b. tie Special Mister shall fall 20 comply
within tho period q twenty day: aer no ny ,ts
United States for the Eastern District OF Michigan
Southern Division. recurring or relating 70 tne pay
moneys leceiyers' certificates bonds and coupons
or claims deposited by srch acreped bidder WI,
Z
he applied TO the payment Of the expenses OF re-
sale and toward making good any oehclehcy or oss
IN case the property N ssPeet 81 sne bador
shall make default shall bs sold at less prce on
such sale. and to such other purpose as .aa
aay sale the depos,, made By the accepted bidder at
such sale viii be forthwith returned 10 suca Iae.
VIII Tie purchaser upon eonfrmst:on OF the
sale or sales must make such further payment or
payments Ia cash on account ot the phrrnsso pilee
a. said Court may from time 10 iiDe dlrecI 90
Z nrh ~ fIs
by said Court be paid Ia cash may ether oe psiu
IN cash. o. tbs purchaser may satisfy and MAKE
Turning oTer 10 the Special Master to be cancelled
or credited receivers certificates and/or bonds and
.nitIed 70 he paid out Of the proceeds Of sale ol
distribution thereof. said receivers certlhcates ara
said bonds and coupons shall be N Oesret iS.ln III
q accompanied by proper transfers 10 tne npeSiA
In lieu Of such receivers certificates. bonds and
coupons or claims. tue Special Master VII accept
Mo certificate Of any national bank or trust CON.
many in the CITY a. New York or in the 'iy OF
Boston or IN tie City Of Detroit. ACCEPTABLE TO he
Sr.claI Master thar II holds subject 10 his order
such receivers certificates snd/or bonds or IN;
character and 10 the amount therein speneI a.
therein stated. and/or such claims oi the chaIscnr
and 10 the amount therein specified Win proef
/ transfer thereof
The purcha..r win be credited on account Of th:
purchase price OF the property ~ him p1IcnAegn
for all receivers certificates and TOT Al POM, ,
and coupons AMI for all claims so tDrrea ~
90. go ~ s,ch sims as would be paid IN respect
10 s,ich receivers certificates In respeci 70 tucn
bonds and coupons IN respect 70 sueh cIslnl s
out OF the proceeds Of the sale N the whole amour.
~ ~, purchase price were paid in cash. ssd tour,
reserves the right 10 resell upon sucn no.ee AZ
said Court may direct tho property 500 10 ~
purchaser In ease said purchaser shan iau or oh's
10 make any payment on account 9i W. uI lscd
balance NJ the purchase pr'ce Wi,ibn the pe'io4
8 Of twenty days after the entry Of a. o,ac5 ~
oulrilE such payment; aud IN case ~. p,,eng1 sT,
! shall make default Cor 2 period Of twenty e. y,
in complying with the directions Of any ORDER ior
rStske and resell tho property sold 10 the purchaser
vSo or whcse successors or assigns shall so have
made default and a. his OF their own c9s anu riss
~ The purchaser Of Parcels ana Is sns ,aso -
and N addition 10 the sums bid ~ sei puIchtse,
take such property and receive The leeds or OLE,
s -,Iren,s ~ Conveyance and transfer therCoi upo
hi. express condition that he will pay. SATISFY aad
discharge any and al arr and sssesI nscl
shall be lien upon any Of sag pr1p ,Sd snail.
as part Of the consideration for the properly pa.
chased and IN addoa to- tss ' Fi, % pecrss Re-.
CURED to be paid b. him. take such properV 20
receive the deeds or other instruments OF .o ge
ycyancc and transfer thereof upti me eNpiess ,
tiop that ne will to Tire extent that aAy SUI
amounts have not been paid. % shsli ho, 20 pa
out Of moneys IN possession OF the heeei'en' pA'
"a Any compen|stion that has been or shall ,.
allowed 10 the Receivers or tbelF so.lc.tofs w ssa
Consolidated Cause. or I'm any ~ the cons'ltuen,
sui.s aud also any Indebtedness. obligations ara
liabilities (other than the certincsteS OF i m
described which shall have been contracted 0,
incurred by tie Receivers In said Consoiua.sl
Cause or in any OF the CONSTITUENT SUNS. l va
management or operation ~ the property pGrcnased
and Otherwise IN the discharge Of their duties -
such Receives between the date o. theE appoint .
mcnt and tine date OF the deliysy by t.7 Receivers
Of possession u the property sold. No.,
fbD ANY clsims Of creditors ~ the Consoi dated
Company heretofore 4 eli IN said Consolidate! Cause
OF In any Of the constituent suits which shsl
have tceG or shall be adultted by the parties N
irto-eq. CT aiiudscd by scid Court 70 be pro.
in gfsff- Ia Ia
improvement Mortgage 80.
shall be Hen upon any OF sad proper'y al!
which. II said property is subject IN the zen %
ths Consolidated Mortgage. shall he rrief 70 ne
is subject to tho lien Of tn, Rounding Mortgages;
shall be prior 20 the lien o. said mortgage. sni
N. ' Improvement yi ' Mortgage. sSal be prior 70 ths
lien o. said mortgage
At tho tho Of the delivery By the Receivers 81
Possession Of Parc,ls e. D ara " INC Heei v',.
ell cash I'm the Possession o the Receives ana WI
deliver to said grantees or on uher order al 81.
rent assets. materials and SUPPLIES IN ne psseSsyn
Of the Receivers. In Parcels G. d and shail
no, be sold together the cash. current ssseis mae
rails and supplies IN the possession Of the Receivers,
end such conpeus aIion. inde0indness. coissiions
and liabilities o. tho Receivers. WI Ne apo tol,1
6y said Court anons Sn.n o. sAa ,S n,o $50
uoi, 81 , dg sug. eolSsstiog. and Isbties so
found and detennlned wall be credited ard paid TO-
Or AZ Tho case NAV be. charged against. the puf-
J chssers Of said respective Parcels. .he deeI o.
deeds o. other instruments % conveyance and Trans
fcr will u, delivered also subject TO TIC satisfaction
srd d!.char al any Indebtedness az Liabilities ier
srsclaeI E., clauses 20 - both inclusive. Of srti-
/ cle Fourth 81 said Final Decrresl c9hIscted OF
Incurred By Ito Co.,odNed SohD'ny ~ ;1e S'ec :,
4 alton OF is property pnOt 10 me apoiHuaolt %
tho Receivers and which shall be AdJudged by saI
Colr, 10 DO pdor IN hen or s1Isro. u .soiy 70
/ tie improvement Mortgage 20 the e1<nt 10 shlen
the same shall not tc paid or satisfied cut OF Tue