The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1919-09-19
Brunswick Hide
& Metal Co.
1906 BAY STREET

abilities, claims of holders of recelv
ers certificates or any other claim
Of demand whatsoever, TIE funds arts
ing from the sale 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 bin as a ,ondi-
ton precedent to his right to bi! and
as pledge that such bidder viii
make good his bid in case of its &C
reptance and confirmation by the
Court the sum Of Ten Thousand dol
lars in cash or by certified check up
IN any National Bank or Trust com
)any in the State Of Geor. 1 or the
ity 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 ono hun
bred thousand dollars face amount of
first mortgage bonds n bearer form
bearing coupons appertainng to such
bonds. either of the issue secured
by the deed of trust to the Morton
Trust Company as Trustee or OF the
issue secured by the deed CT trust to
| tie Columbia Trust Company as trus
tee or in lieu of said deposit
of said check or bonds the
Special Master is authorized to
gecept the certificate of the
Columbia Trust Company that it
holds subject to his order the amount
lerein 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 OF relating to
|
chase price then the sums deposited
by such successful bidder whether
in cash or by CHECK, CT represented
by bonds, will be forfeited as q pen
atty for such failure and will be ap
piled to the expenses Of q 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 other 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 he
property of said railroad company and
on notice 10 all of the parties in said
I 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 The receivership thereo, &C
| cording to their respective rank, dig
nifty and priority. No claim 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 a claim in respect the eof
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 & 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, AMI 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 a 60
ing concern or as dismantling rlop-
osition for Jess than the sum of Pour
Hundred Thousand ($4o0,Ooo.oO) dol
lars,
Dated this September 8, 1919.
J. w. TALBERT,
Special Master. /
Savannah Ga.