The New York herald., 1921-05-19
FORECLOSURES SALE.

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accepted bidder. as here.nbefore provided.
VIII be forfeited as penalty for such fall.
use and VIII be applied 10 the payment OF
The expenses OF a resale and toward making
good any deficiency or loss, In case the prop
.rty, IN respect OF which sucn accepted bid
der shall make default. shall be sold al a
less price on such resale and TO such othei
purposes as this Court may direct.
II said Court shall deny an application 70
confirm any sale, the deposit made BY an,
accepted bidder at such sale shall thereupoi
be returned TO such bidder.
No minimum price is fixed by said de-
cree FOR tho property TO he sold or any
parcel thereof; but the Court reserves full
power and discretion 10 reject any bid OF
iect just objection. Every sale under
said decree shall be subject to confirma-
lion by the Court. Bids for the property
hy said decree directed 10 be sold when
fufficient 10 provide for the payment IN
cash OF such sum the Court may deem
sufficient 10 meet the four classes Of
charges upon the proceeds OF sale IN
clauses ta) TO tdl Inclusive OF Article NN
OF said decree enumerated. viz;
- The costs OF said Equity Cause No.
!uclsdhg the compensation OF. the Special
Master appointed to make such sale:
%, Any unpaid compensation which has
peen or shall be ollowed by the Court 10
the receiver In said cause, or his solicitors
and counsel.
90 All unpaid liabilities. indebtedness
and obligations. II any such there be. OF
the receiver II said cause legally contracted
or incurred by him at any time before the
property sold shall be delivered to the pur-
chaser or purchasers. his or their succes-
tdl Any unpaid claims Of creditors of the
Traction Company. which have been or
shall be admitted by the parties in interest
or adjudged by the Court to be prior and
superior In equity TO the Hen Of the First
Mortgage OF the Traction Company.
In the event OF the insufficlency OF the
proceeds OF sale TO pay In full the amount
OF said charges, the Court reserves the right
from time to time 10 require payment OF the
deficiency BY the purchaser or purchasers.
The Court reserves the right. III case rhe
two parcels hereinbefore described as
parcels ard and ordered to be sold
shaH be sold 10 different purchasers, 10
l,aeiliies ard other items charged upon
the proceeds OF sale and mentioned in the
foregons cogses ta) 70 Cd Inclusive.
the purchaser shall make such payment or
payments IN cash account of the pur-
chase price a. the Court may from time to
time direct
SO much Of the purchase price as may
rot be required by the Court te he paid In
cash may be paid In cash. or the purchaser
may safety and make good the balance OF
his bid IN whole or In part by delivering
to the Special Master, to be cancelled or
sfeesd sord ~ tss
In bearer form, and. if In Interest war
rant form, accompanied by the interest
warrants apper'aining thereto. due March
]. 1919. and subsequently,, to be paid oul
of the proceeds or sale on distribution
thereof as SCI forth - said decree. and o.
claims against the Traction Company
established IN said Equity Clause No. 470l
and are TO be 50 paid as provided In Ar
ficiency claims IN respect Of such First
Mortgage Ronds and the interest war
rants appcrtaining thereto which may be
allowed by the Cour. In favor OF the
trustee OF 'ne First Mortgage of the 'rrac.
ton Company or Of any OF the holders OF
It's First Mortgage Bonds In lieu OF sucl
Special Master may accept the certificate
or certificates OF any solvent bank, bank
Ing institution trust company. or banking
firm, acceptable to the Special Master that
ais. subject to his order. Or subject
TO the order az the person or persons oi
corporation therein tanned and assigned
sctcr and Of the amour. therein specified.
and. n In interest warrant form. accom-
penied bv the interest warrants therein
specified claims or the required char.
acter and OF the amount therein specified
accompanied by proper and appropriate as
signments thereof transferring the same
10 the Special Master. The purchaser shall
hc credited. on account OF the purchase
price OF the property by him purchased 70.
ell such bonds and interest warrants and
for all such allowed claims delivered
TO tho Special Master in part payment OF
the purchase price. with such sums a.
would be payable In respect Of such bonds
proceeds OF the sale sales made pur-
sCant 10 said decree II the whole amount
Of the purchase price were paid In cash.
". BY said decree said Court has re-
served for it's future adjudication all cues
tions not disposed OF by said decree.
For further particulars reference Is
hereby made to said Decree OF Foreclosure
ard Sale and 10 said Final Order OF Sale
and to the records OF said Equity Cause
No. i1ol and 10 the Advisory Report OF
the Receiver OF the Traction Company to
be filed with the Clerk OF said Superior
Cour. pursuant to said Decree OF Fore
closure and Sale. Further Information may
also he obtained upon application. TO the
undersigned.
Dated At Providence. r. L., May 10. 1921.
AnTTUR A. THOMAS, Standing Master
~ Chancery and Special Master as afore-
said
RICHARD b. CoMSroCK. Providence.
r, T.
ROPES. GRAY. BoYDEN 4 PERKINS.
Boston. Mass.