New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-26
MASTERS SALE

| July i. 1918 and al subsequent coupons Sasa
deposit may be made partly In cssh 90 oe,,'p 10
check aud parity m .eiundihs bonu'' ou' ;" "s
5 In case q Parcels c and D. when offered to-
gs,h.r the aggregate .: such sums N ee>h or "
rertifed check As Aforesaid or the Aggregate OF
bonds. Of such character aud 10 such -niculS
ard 10 qualify said person to bid Tor ooh Of sa'u
Parcels and ID. .,.,,
8 n case Of Parcel Z. when offered sePaI1ie, ",
the % $4,000 IN cash OF certified ,Ie' ~, o.
. some national bank or trust e0mpay Do lns ~ ~
Of New York or in the cts or Detroit A'cep ane
/ 20 the Special Master and made % endorsed pay
able 10 his order or s 900. 600 face amount q
principal o, improvement BOND. IN oeAie' l.-m
and m couuou bonds accompanied by the coupon
OF September l. 1919 and all subsequent coupons
such deposit may be made par;g IN SssA OF 90
fed check and partly IN improvement Bonus V'' IA
In case o; Panels c and T. when offered
together the aggregate OF such sums in cash o. .,
bonds Of such character and 10 such amounts -
would be required under the foregoing ciau,es =,
and 70 qualify said person to bid Tor all Of s5'o
3 s. In case OF Parcels A. h. c. u and +. when
offered as an entirety the .ssrrsats 9, sqeh IN ~
IN cash or by certified cne,k az Aforesaid or me
Aggregate of receivers crrfinostes o. BONDS @,
claims with transfers thereof Of such ehaface; ana
for.Solns clauses l. 2 8 and 6 to qualify sad
persons 10 bid ior all Of said Parcels
In lien o; the deposit OF receivers ceruacs Is.
thereof IN accordance With the requiremenis Of
the foregoing clauses l. > 5. 4. .; .. anl : or
airy OF them the SPECIAL Master win aecepi ne Ger
tircate q ans national bank or trust company
in the City OF New York I'm the CITY o. Bosiol
OF IN the City Of Detroit acceptable 10 the SPECIAL
Master that II holds. s. the case may De- fectN
ers' certificates or bonds OF the required character
! IN negotiable form and II In coupon ioIm. aeon
panied Oy the required coupons. or Claims OF ne
required character with proper transfers uereoi'
subject Ia the order ~ the party therein named.
said Certificate being by him transferred 10 the
order Of said Special Master deposit maze oy
any bidder for separate Parcel may, so Tar az
applicable. be applied on account OF the deposit re-
for said Parcel when offered together with Que or
more other Parcels or for all Of the properly when
S se h iI s1 ~, a. an MN op,fy such
bidder 10 bid on any or all OF the Parcels a.,
/ Any deposit received from an unsuceeSsinl o.d-
4 der will be returned to him when the properly
shall be struck down. Tie deposit received from
3 the successful bidder bidders VIII be applied
on account Of the purchase price Of the property.
FOR Parcel A. less than the sum o. s2SO0 600;
for Parcel b. less than IN" sum Of $4,000; Tor
Parcel 9. less than the sum o. 800 goo tor
B Parcel d. less than the sum Of $1,000 600: Tor
( Parcels and D when offered tosether less than
The sum o, S. 800 600: FOR Parcel +. less than the
sum Of $3.50 900: Tor Parcels {. ID and When
offered together. less than the sum of 50 $50 600;
for Psrce's A Il. e. ID and when offered as an
entirety. less than the sum OF Sl0.loOoOo.
VII In case any bidder. upon the acceptance OF
his bid by the Special Ister, shall fall 10 comply
within the period Of twenty DAYS after the entry
thereof With any order OF Ire District Court q the
United States for the Eastern District OF Michigan
southern Division. requiring or relating 10 ne pas
ment OF the balance Of the purchase price then me
moneys receivers certificates bonds and coupons
or claims deposited by such accepted bidder VIII
be forfeited a penalty for such failure and VIII
4 be applied 10 the payment ~ the expenses OF re
/ sale and toward making good any deficiency or loss
/ ihe purchase price q which said accepted bidder
shall make default shall be sold al ess price on
such resale and 10 such other purposes VS. al, am
any sale the deposit made by the accepted bidder a.
such sale will he forthwith returned 10 such oiddff
/ VIII. Tie purchaser upon c0nnrnauon OF ule
, sale o. sales must make such further payment or
! payments in cash on account OF the purchase price
+ as said Court may from time 10 time direct -
much Of the purchase price as may not he required
by said Court 20 be paid IN cash may either be pad
! In cash. or the purchaser may satisfy and ma i
good the residue az his bid IN whole or In part by
turning over 20 the Special Master 20 BE- cancelled
or creiited receivers certificates and/or bonds and
coupons and lor csms with proper transfers thereof
entitled TO be paid out ~ the proceeds oi safe on
dstyibu,ion tbersof Said receivers certificates and
said bonds and coupons shall be In bearer form or
accompanied by proper transfers 10 the Spe'is'
Master ,,.,
I coupons or claims the Special Master viii accept
the certificate Of any national bank or tLusr com
Boston or In the C1y % Detroit acceptable Ia no
4 Special master that 10 holds subject 70 his order
such receivers 'e,uncdLe> ~, ~, r.sieod sd
character and 70 the amount therein specined au
: II in coupon sofm. accompanied by me coupols
therein stated au1/or such claims o. tne shsrs,,s.
. aad 10 the amount therein specified win proper
/ transfer thereof.
/ The purchaser will be credited on account ~ ihs
purchase price OF the property by him pGchha,eri
D. and coupons and for all claims 80 ilr.ea osti
10 the Special Master in part payment ~ the put.
chase price such sums would De PAID DID fespe,,s
10 such receivers certificates or IN respect 20 su.n
bonds and coupons Or In respect 10 slcn calhs
out Of the proceeds 81 the sac y NE ""Ss C,,,t
q the purchase price were paid In cash Sald CouIt
reserves the right % resell upon such iotl,e ~
: said Court may direct the properly soG 10 ~
purchaser n case said purchaser shall isl or oml,
n n,sts any pavalpnt on account Of the unpaid
3 balance Of the purchase price Witnh ue pt'lOn
/ a, twenty days after the entry o, order le
nd
shal make default tor period 81 twenty uS ~
IN complying With the directions oil any oiuef 10.
such payment hy said Court. then sald Iolrt iny
TSiske AMI resell tie property sold to the purchaser
who or whose successors or assigns shsI 70 n.t'
N Tic purchaser Of Parcels ana suall ~
psrf OF the consideration for the property purchaseu
snd Ia addition 10 The sums uld ig SUI %, ofbe.
take such property and receive ue ue.,s ~ 80,
Instrument. Of g0nyeya uCp and transfer tefeoi uFp
the express condition that he viii pay s4usy az
discharge any and all taxes and s'ses,he.,s N.,,
shall be lien upon am OF said property putchsseG'
The purchaser 81 "aiceis :, y ahu T. s, .e,-
az part OF the consideration for the properly puI
. cbascJ and iu addition 10 the sums bid hJ such
purchaser and elsewhere iu said Flnal De'tees ~
g GSrlya 70 n de sl or oier instruments Of
veyance and transfer thereof upon the express ooa
ton that he viii 10 the extent mat any Sa sid
3 amounts have not been paid. OF SHAH not ne pau
out oi moneys On possession " the EecelNefs' pa''
satisfy and discharge
/ tsl Any compensation that hiss been or shal %
allowed 10 the Receivers their solicitors ~ sac
Consolidated Cause. or IN any OF ne consumer i
suits and also any Indebtedness. oDls4lo.s g."
liabilities (other than the certlncates OF i M
cdnass in Paragraph NNNV o. said Final Decree
described witch shall have Oeea co1i - ~
b incurred by the Receivers 10 said Coi sotlue.t ~
Cause or I'm any 0f the constituent suits. ll me
management or operation O; the properly pufehase1
and otherwise in the discharge Of their duties as
sum Receivers between the date Of their appoint
mrnt and the date ., the delivery BY the Receivers
q possession Of the property sold; 49, ,..-.,,.,...,,
lbl ANY claims OF creditors o. the CONSOLIDATED
Company heretofore Hei iu said Consolidated cause
e Or IN any Of the constituent SUNS Nn..L 80 ~
T have been or shall be admitted by the parties m
interest or adjudged by said Court 70 be prof
IN lien or superior IN equity 20 ne 'ohsoilua.S S
Mortgage or 70 the ReiundiJ Mortgage or TO the
1cl ANY and ali taxes ant assessments which
. shall be a lien upon any o. sad properly. Sns
witch. II said property Is subject 10 the Zen Oh
tbs Consolidated Mortgage. shall 90 onor 70 ne
. der win be returned 70 bin when the pioI.'rS
- subject 10 the lien Of the Reiundng NoFssse
. shall be prior 10 the lien OF said mortgage. and
! which II said property IS subject 10 the Zen OF
the improvement Mortgage. shall be pnor TO ih'
lien u said mortgage.
At the time OF the delivery by the Receives o.
; possession - Parcels e. ID ana =, TIC he.elNe,s
ali cash In the possession u the Rrniyers. and viii
deliver 10 said grantees Or or Their order al eur
rent assets materials ahd snPpies ~ nc 81, .Hs;i
not be sold together the cash current sSses, mac
hals and supplies in the psssssiol Of the hecese.s
! and such compensation, lhdeoiednesS' OplsS'ious
I and liabilities Of the Receivers. VIII be spporloled
| nv said Count among such o. SAID PArels as SAC
( Court shall hereafter determine. and lheH ptoEp.
ton OF any such cash and n any such crnps1sa
I lion indebtedness. obligations and liabilities 80
found and determined viii Be cfeited Ald paid 70
mr. AZ Nh. case tnay be charged sgsiusi. the pur-
/ chssers OF said respective Parcels. The deed or
deeds or other instruments Of Conveyance and ifaia
FER viii be delivered also subject 10 the satisfaction
: and discharge ~ any Indebtedness Or liabilities lei
cept The Indebtedness secured d. the instrumef >
sD...ined In clauses / % both inclusive. 81 ssu
[ cie Fourth " said Final Decnesl conTs TED o.
Incurred by the Consolidated Company IN the olSF
alton OF Us property prior 70 the appoii tme9st ~,
the Receivers and which shall be adJudSed ny sad
! Court 10 bc prior IN lien or superior N eQulG 70
! the Improvement Mortgage 20 the extent 10 WhltA
: the SANE shall not BE- paid satisfied out ~ Tie
! inr,rne OF the property iu the hands u The Re