The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1919-09-20
Brunswick Hide
& Metal Co.
1906 BAY STREET

abilities, claims of holders Of receIv
ers certificates or any other claim
or demand whatsoever, TIE funds arts
ing from the safe being impressed
with the claims and Tens 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 will
make good his bid in case of its ac
ceptance and confirmation by the
Court the sum of Ten Thousand dol
lars in cash or by certified check up
on any National Bank or Trust com
J pany in the State of Gcor~ia or 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 one hun
bred 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 Morton
Trust Company as Trustee or OF the
issue secured by tho 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
posits received from any successful
bidders will be held by the Special
Master subject to the orders of the
Court and upon confirmation II the
sale will be applied on account uf the
purchase price of the property.
vi. In case any bidder after &C
ceptance of his bid by the Special
Master shall fail 60 comply within a
period of twenty days with any order
OF the Court requiring or relating to
the payment of the balance OF he 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 a peIf
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 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 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, incumbralc
es and charges against the said prop
erty and Tho receivership thereon &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 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 C 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 or plan
two, for the entire property as a 60
ing concern or as a dismantling plop-
osition for Jess than the sum OF Four
Hundred Thousand ($400,O00. 00) dol3l
lars.
Dated this September s, 1919
J. W. TALBERT,
Special Master.