New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-23
MASTERS SALE

bidder as herelnhsfore provided viii be
forfeited as penalty for such failure anu
| will be applied to the payment OF INC eh
| p.nses Of a resale and toward making
good any deficiency or loss In case tne
property shall be sold at less prlcs o.,
such resale. and 10 such other purposes d.
| said Court may direct
II said Court shat. not confirm any SAFE
tho deposit made by tho accepted nlnuHl
at such salo viii be forthwith returned u
such bidder.
Ninth. Tn. purchaser upon confirmation OF
the sale shall make such further psNih.u'
| or payments in cash on account OF tn'
purchase price as said court may ITO"
time to time direct. So much OF the pun
| Chase price as may not be repulfs ~
said Court 70 be paid In cash may e'oa
he paid IN cash or the purchaser H,Ht
satisfy and make good the residue OF MS
bid In whole or In part by turning Over !"
the Special Master to be cancelled q cru
tied as hereinafter provided. bonds an
coupons entitled to be paid out OF tn'
| proceeds Of sale on distribution Thereon ~
| tn said Final Decree set forth. So
, bonds and coupons shall be In bearer toIIn
or accompanied b. proper transfers 10 '"'
| Special Master. ~
| Special Master may accept from 'he p"a
! chaser the certificate OF any national hahk or
trust company In the city OF New lorh OF W.
the city Of Cincinnati, Acceptable 10 tnr
Special Master. that It holds subject to ms
| order bonds 10 the amount therein specih,u.
and. IL IN coupon form. accompanied %
the coupons therein etdltu
The purchaser shall be credited on aCeyI"t
OF the purchase price OF the property ~ MN
purchased Tor an bonds ana coupons wi
over. or specified IN a ceitihcate deIlNtleu %
! herelnbefOre provided. In part payment OF
the purchase price with such sums as "ouiH
! be paid In respect ito such pones anu 80
pons out OF the proceeds OF the saie II Wy
! whole amount Of the purchase price W.
paid In cash. said Court reserves the rshl
, 10 resell upon such notice as said Court may
direct, the property sold 70 any puicn1hS''
In case such purchaser fhal fdIl OF u'''' W
make any payment on account OF the vs.. w
paid balance Of the purchase price "I'hiH
! twent, days after the entry Of an order re-
qgiring such pas ineut. 800
A purchaser shall not be required TO pay
the shares distributable In cash out OF the
| proceeds OF sale upon lronton Bonds or cou,
pons appuitenant thereto. or upon flrst ana
7 Refuuding Bonds or coupons appur'ehaIl'
thereto or upon General Bonds or cou-
pons appurtenant thereto, until ten days
after said Court shall. on Application OF OF
GA behalf Of the holder OF any OF SAID pohos
or coupons, enter its order or decree direct
ing payment In accordance with sJch oiuer
Of the cash dlstributye share OF the proceeds
OF any sale 10 which the bonds ana coupons
or any Of them In respect OF when their
holder shall make application as aforesaid
shall be entitled. Until a purchaser, MS sue
/ cessors or assigns. shall have paid In casn
the oistrlbutiye shares in the proceeds o.
sale 10 which any such bonds or cou-
pons not used In part payment OF the pur
chase price shall be entitled, either 10 tno
Special Master or into Court or IN accord,
I ance with some order @. said Court said
/ Court reserves a paramount lien and charge
| upon the property sold to such purchaser and
: every part and parcel thereof for the pay
ment in cash OF aas unpaid part or portion
Of the purchase price. and In case thc puI
chaser. his SUCCESSORS or assigns. shall make
default for period OF twenty days IN COM
plying with the directions OF any order for
such payment made by said Court upon the
application OF the owner OF any such bonds
or coupons then said Court may retake and
resell tho property sold 10 the purchaser VINO
or whose successors or assigns shall so have
made default, and at his or their cost ana
risk.
Tenth. As provided in Article Ninth OF said
Final Decree tho purchaser OF any OF said
property shall take the same subject TO any
and ali taxes and assessments which shall
be lien upon any OF the property pur,,
chased; and the purchaser OF any OF hald
! property fother than the property described
[ In subdivision d. Of clause III OF Paragraph
/ Fifth hereof, or Of the property described IN
subdivision % Of clause III OF Paragraph
& Fifth hereof as a separate parcelD, MS sue
cessors and assigns. shall. part OF the
consideration for the property purchased ana
in addition TO the sums bid by him and else
where in said Final Decree. or in any other
order or decree which may hereafter be made
I in said Consolidated Cause. required to be
paid by him. take such property and receive
the deeds or other instruments OF conveyance
and transfer thereof. upon the express con
dillon that he. or his successors and assigns.
shall pay. satisfy and discharge;
(a) Any unpaid compensation that has
been or shall be allowed 10 the Special
Master heretofore appointed in said Con-
solidated Cause. or IN any OF the constit-
uent causes. any unpaid compensation that
has been or shall he allowed 10 the re-
ceIyers In said Consolidated Cause or their
solicitors and also any unpaid indebted
ness and liabilities Of the receivers incurred
in said Consolidated Cause. or In any OF
the constituent causes. in the management
or operation OF the property purchased. and
otherwise in the discharge Of their duties
as such receivers to the date OF tho delivery
by the receivers OF possession OF the prop
erfy sold.
(b) ANY unpaid claims Of creditors OF
the Railway Company which have been or
ahali be admitted bv the parties In interest
or adjudged by said Court to be prior in
lien or superior in equity TO both the FRS,
and Refunding Mortgage and the General
Mortgage and. In the case OF a purchaser
embraced in the Ironton Mortgage az
separate parcel, 10 the lronton Mortgage;
10 the extent that they have not been paid
or shall not have been paid out Of moneys
in possession Of the receivers. Any surplus
OF said moneys remaining after the payment
| OF the claims mentioned In the foregoing
| subdivisions (a) and tb) shall be paid by
! the receivers TO the purchaser OF the parcel
/ OF property provided for in clause " OF
| Paragraph Fifth hereof. TO his successors
! or assigns on the order thereof.
In case the property BY said Final Decree
| directed to be sold shall be sold IN parcels,
no purchaser OF any part Of the property
| required 10 MAKE payment OF any Indicted
ness or liability contracted or incurred By the
| Railway Company unless such claim shall
I be adjudged by said Court TO be prior in
| lien superior In equity 10 the Ironton
| Mortgage. the First and Refunding Mortgage
and the General Mortgage. and each OF them,
and the purchaser OF the property described
: in subdivision Co OF clause III of Paragraph
I Fifth hereof or Of the property described In
clause ~ or Paragraph Fifth hereof shall not
be required to make payment OF any in
I d.ks tfaF ff, fra faH
by the Railwav Company unless such claim
shall be adjudged by said Court to be prior
in lien superior In equity to both the
First and RefundinP Mortgage and the Gen.
eral Mortgas. and as among said respective
parcels said Court VIII apportion the in
debtedness or liabilities to which thew hay
respectively be subject and charge against
the proceeds OF sale OF the respective parcels
their proper proporiioG OF such indebtedness
or liabilities.
The parties to receive and nay, and the
amounts TO be paid and ecelved. under said
Article Ninth, unless agreed upon by tho
parties in interest. shall be fixed and adjudi-
Gated by said Court and said Court re-
serves the right and retains the power and
jurisdiction so 10 do, and the right. power
and jurisdiction 10 take back and resell any
property that shall be sold under said Final
Decree In case the purchaser or purchasers
or his or their successors or assigns. shall
fail 10 pay anv OF the claims mentioned in
said Article Ninth when by sad Court re-
ouired. and In case OF failure to pay any
Otner part OF the purchase price o. the prop
erty sold under said Final Decree. within
twenty days after service OF an order OF said
Court requiring such payment, or II an ap-
peal be taken from any such order within
twenty days after service OF written notice
OF final combination OF such order upon
appeal.
In thu event that any purchaser or his
SUCCESSORS or assigns. after demand made.
shall refuse 70 pay any Of the sbove-m~n-
toned Indebtedness or liabilities which under
the provisions OF said Article Ninth, he IS
or NAV he required 10 pay, the person hold
ing the claim therefor. upon twenty days
notice to such purchaser. his successors o.