The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1919-09-17
Brunswick Hide
& Metal Co.
1906 BAY STREET

abilities, claims OF holders of recelv
erS certificates or any other claim
or demand whatsoever, the funds arts
ing from the safe being impressed
with the claims and lens thereon in
lieu of the property.
V. The Special Master will re
ceive no bids from any one who shall
not first deposit with him as a ,ondi-
ton precedent to his right to biz and
as pledge that such bidder viii
make good his bid in case of its &C
ceptance and confirmation by the
Court tne sum of Ten Thousand dol
lars in cash or by certified check up
on any National Bank or Trust com
! .)any in the State Of Ge0"g / OF the
city of New York acceptable to the
! Special Master and made or endorsed
payable to his order or in lieu Of such
deposit in cash CT by check one hun
dred thousand dollars face amount of
first mortgage bonds iii bearer form
bearing coupons appert2inins to SUCH
bonds, either of the issue secured
by the deed of trust to the Morton
Trust Company as Trustee OF OF the
issue secured by the deed of trust to
the Columbia Trust Company as trus
tee or in lieu of said deposit
Of said check or bonds the
! Special Master is authorized TO
yccept the certificate Of the
! Columbia Trust Company that it
holds subject to his order the amount
herein specified of said bonds in
| bearer form accompanied by the cou
pons therein stated. The deposits re
ceived from the unsuccessful bidders
will be returned to them when the
property has been struck off. The de
posts received from any successful
bidders will be held by the Special
| Master subject to the orders of the
| Court and upon confirmation If the
sale will be applied on account Of the
purchase price of the property.
VI. In case any bidder after &C
ceptance OF his bid by the Special
| Master shall fail 70 comply within a
period of twenty days with any order
OF the Court requiring or relating to
| the payment Of the balance of the pur
chase price then the sums deposited
| by such successful bidder whether
in cash or by check, OR represented
by bonds, will be forfeited as zen
| atty for such failure and will be ap
| piled to the expenses of a resale and
towards making good any deficiency
| or loss in case the property shall
be sold at a less price upon such
resale and to such ether purposes as
the Court may direct. If the Court
shall not confirm any sale the deposit
made by the accepted bidder shall be
forthwith returned to such bidder.
VII. After the sale of all OF the
property of said railroad company and
on notice to all of the parties in said
cause the funds arising from the sale
will be distributed under the orders
of the Court fixing the relative rank
and dignity of all liens, incumbraEc
es and charges against the said prop
erty and the receivership thereon &C
cording to their respective rank, dig
nifty and priority. No CAIN or charge
against said funds or the property OF
said railroad company will be entitled
to payment out of the proceeds of the
sale unless claim in respect Thereof
shall be filed in said court within
thirty days from the date of the con
firmation Of said sale or ,un
less the same shall be finally
determined by the Court to be emit
tied to payment out of said funds.
VIII, Provision is made in said de
cree for the joint execution Of deed
or deeds to said property by the Spe
cial Master and the defendant Geor
gia Coast C Piedmont Railroad Com
pany and tho release of all right, ii
tie and interest in said property by
he Guaranty Trust Company of New
York. as successor of the Morton
Trust Company, as Trustee, and the
Columbia Trust Company as Trustee
under the mortgages or deeds of trust
held by them respectively on said
property.
The Special Master shall not re-
ceive any bid under plan one or plan
two, for the entire property as 60
ing concern or as a dismantling prop
osition for Jess than the sum of Four
Hundred Thousand ($4O0,OO0. 00) dol
lars.
Dated this September 8, 1919
J. w. TALBERT,
Special Master