The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1919-09-13


ceive no bids from any one who shall
not first deposit "itn him as a t9ndi-
tion precedent TO his right to biz and
as pledge that such bidder viii
make good his bid in case of its ac
ceptance ana 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
Cany in the State Of Georgia OF the
| city of New York acceptable to the
Special Master ard made or endorsed
payable to his order or in lieu of such
deposit in cash or by check orc hun
dred thousand dollars face amount OF
first mortgage bonds in bearer form
bearing coupons appertainins 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 10
'cept the certificate of the
Columbia Trust Company that if
:2ids subject to his order the amount
'eHein specified OF said bonds In
bearer form accompanied by the coz
cons therein stated The depoqits re-
ceiVed from the unsuccessful bidders
vii! be returned to them when the
property has been struck off Che de
posts received from any successful
bidders will be held by the SDecial
Master subject to the orders of the
Court and upon confirmation ii the
sale will be applied on account og the
purchase price of the property
vi. In case any bidder after &C
ceptance of his bid by the Special
Master shall fail 40 comply within
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 bonds, will be forfeited as a nen
piled to the expenses of a ro"7la and
towards making good any deficiency
or loss in case the property shaf
be sold at a less price upon such
resale and to such ether purposes as
the Court may direct. If the Cour.
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 20 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
ec and charges against the said prop
eTty and tho receivership thereon &C
cording to their respective rank, dig
nifty and priority. No calm or charge
against said funds or the property of
said railroad company will be entitled
to payment out of tho 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
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 truet
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 prop
osition for Tess than the sum of Four
Hundred Thousand ($40O 900 .00) dol
lars.
Dated this September s, 1919.
]. W. TALBERT,
Special Master.
Savannah Ga.