The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1919-09-30

I Court the sum OF Ter Thousand dol
lars in cash or by certified check up
On any National Bank o. Trust com
Yany in the State Of Georgia o, 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 or by check ono hun
dred thousand dollars face amount of
first mortgage bonds in bearer form
bearing coupons appertaining to such
bonds, either of the issue secured
! by the deed of trust to the Merton
Trust Company as Trustee or 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
ccept 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
ocsits received from any successful
h'dders will be held by the Special
Master subject tic the orders Of the
Court and upon confirmation ii the
sale will be applied on account &c the
purchase price of the property.
VI, In case any bidder after &C
ceptance of his bid by the Special
Master shall fail 90 comply within a
period of twenty days with any order
of the Court requiring CT relating to
the payment of the balance of { he pur
chase price then the sums depcsited
by such successful bidder whether
in cash or by check. or represented
by bends, will be forfeited as zen
atty for such failure and will be an
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 either 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 Nidder.
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. incumbrahc
es and charges against the said prop
erty and Tho receiversnip thereof ac
cording to their respective rank, DIG
nifty and priority No CAIN or charge
against said funds or the property of
said railroad comDany will be entitled
to payment out of the proceeds Of the
sale unless a claim in respect the reof
shall be filed in said court within
thirty days from the date of the con
firmation of said sale or I'm
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 & Piedmont Railroad Com
pany and the release Of all right. II
tie and interest in said property by
the 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 o" plan
two, for the entire property as 60
ing concern or as a dismantling mop-
osition for Tess than the sum Of -Four
Hundred Thousand ($400,000 .00) dol
lars.
Dated this September 8. 1919.
J. w. TALBERT,
Special Master.
Savannah Ga,