The New York herald., 1921-05-19
roEEcr.osuRs SALE.
United TRACTION AND ELECTRIC
COMPANY
NVIIl q. " NAI.

fNfNffNStGA
re supe rlor court y the State OF Rsou.
.a.ano or May - 1921. IA a certain GAYS
n@s'rs ~ ssid cpDia - ile County .. Prov
asnre eEti''se "cettral cnion Teust Com
United Traction and Electric Company. De
ls.t.Ru@ -3iiss 80 4nt. sna to tie yEtA
C9grt D said causs May 10. 1921, 1
ARTHUR \ THOMAS Standing Master II
canneefy y and by sa.d Decree Of fore,
.losuro and sa!e referred 70 as the Special
Master (and hereinafter referred 10 as th,
Special Masterl VIII sell - public auctio
Room :, IN the Providence County Court
House ~ the City OF Providence. Rhode frl-
lad, on June "a. 1921, NJ four-thifiy o'closA
ierLls, conditions and provisions tn safe
Dee es Of Foreclosure and Sale and sste
form the property IN aaid decree tsscriRs
ana therein directed 10 be said. 10 wit:--Au
property, and Interests IN properly. q MNefY
Character and description Of the Cnitsd Trsc-
tiou and Electric COMPANY, New s.saeg
corporation. hereinafter referred . az tl,
,rrag,ion Company; ineiudiny al pr9per'g
said decree. and all property of every ldad,
hatgre and descr.piion acquired Of hgid \,
Equity cause No 4Tai' except cash
4 br.eI general description OF tic prop
erty e be sold a. said sale ss ~ io';ows.
eriy covered By tire lier of tho mortgage
or decd II trust dated Marca !. 1893, made
hy the Traction Company 20 Central Trust
decree and hereinafter referred 10 as the
FIRST Mortgage" Of tha Traction .oiapaay3 =,
being The property described In Article VI
OF said decree tand hereinafter referred 70
as parcel Al 70 wit:
Cs) all OF the shares Of the capital stoc's
authorized and issued OF tho Union Railroad
Company corporation created ny ar ACT Or
tho General Assembly Of the State OF khooe
10000 shares OF the par value Of 500
each;
90 all OF the shares OF the capital stool;
.lsFhnriy1h a
Street Railway COMPANY coipofal ,oi. ,oi.
created by an Act q ne General Ass'i''is
5000 shares Of the par value 81 Slo'
each
each OF The 5000 authorized aud issued
shares of the capital stoclS of the Providence
Cable Tramway compans, ioipoi pa,n,n MN
OF tho state Of Rhode Island ~.
tdl all the rights. benefits and securities.
IL any 70 which the Traction Company n, MAS
at fne date OF said decree OF May q, 1911,
or shall thereafter become, entitled UNDER
and ny virtue OF certain agreement be.
Union Railroad conpar.y. bearing date tbs
first day of March. 1898, and particularly
AZ of the First Mortgage -Four Per Cent.
Gold Bonds Of said Union Railroad Com
panv authorized and issned amounting TO
5000 bonds of the aggregate face value OF
$4,000 900. dated July J. lssa, due July l,
!, 1892, to Industrial Trust Company,
trustee
fe1 all the rights. benefits and securities,
II any, to which the Fraction Company was
al the date OF said decree or shall thereafter
become entitled Under ana by virtue Of TWO
certain agreements each dated March /.
1se2. one thereof between the Traction Conn
many and The pswtucket Street Railway
company, and the other between the rrac-
ton Company aud the Providence Gable
q, any rights or claims there may be
H. favor of the fraction company arising
out Of the use and occupation OF the prop
cf COmpauS.
Pawtucket Street Railway Company. aud the
Providence Cable Tranway Company by the
receivers of The Rhode Island Company
heretofore appointed by said Superior cour,
IN tine cause therein pending entitled John
J. Orr. complainant, W. The Rhode Island
Company. defendant. Equity No. 1893.
n. All property, and interests In property.
OF the Traction Company, and of It's receiver.
not subject TO the First Mortgage therein
sometimes referred 20 as parcel B'D, In
clgdlng but without limitation the ing
az the following shares Of capital stock
80 600 shares OF the par value OF 500 each
OF the capital stock OF Rhode Island Subur-
ban Railway Company. a corporation created
by an Act Of the General Assembly OF the
State OF Rhode Island. being all of the
capital stock OF said Company authorized
tb) all the right, tide and interest OF the
Traction Company In and 10 certain office
furniture. fixtures. materials and supple.
located a the office OF the Company In the
city OF Providence. Rhode Island.
tcl any rights or claims there may he
IN favor OF the Traction Company arising
out Of the use and occupation OF the prop
critics OF said Rhode Island Suburban Raii-
way Company by the receivers or The Rhode
Island Company heretofore appointed by sai I'd
Superior Court In the cause therein pending
entitled John J, Orr. complainant, W: The
Rhode Island Company, defendant. Equity
Of the Traction COMPANY OF whatsoever
nature or character whether against The
Rhode island compsny or rs said receivers
or otherwise not subject 70 the First Mort
gage OF the Traction Company.
For more particular description Of the
property 10 be sold and Of the terms of sale
intending purchasers are hereby referred TO
Sc ia decree OF foreclosure and Safe and sa i'd
Final Order of Sale
As more fully provided by said decree 10
which reference IS hereby mace:
T. The sale directed by said decree viii bs
made " the following manner
The Special Master will first offer for sale.
IA one pa reel en- entirety. all and singular
the property by said decree OF foreclosure
and sale adJudged TO be embraced in or un-
der and subject 70 the lien of the First Mort
gage Of the Traction Company and described
IN Article VI OF said decree lbeing pa reel Al /,
and viii note the highest bid therefor.
The Special Master win next offer for sale.
ll one parcel as an entirety, all other prop
efty OF the Traction Company adjudred by
ead decree not 20 be subject TO the lien OF
tire First Mortgage OF the Traction Company
aud described in Article NJ of said decree
theing parcel b, and viii note the highest
bid therefor.
The Special Master VIII then offer Tor sale
- one lot and entirety all the property
described in Article VI and in Article X Of
said decree and previously offered for sale
under said decree tbeing parcels and b..
and 81 note the highest bid therefor
All blds for said parcels separately shall be
received and noted only upon the condit lions
hereinafter specified.
II the highest bid received for the whole Of
said property when so offered for sale as an
entirety shall equal or exceed the aggregate
Of the several highest BIDS therefor. when
offered for sale in separa,e parcels as here
inabove provided. then the Special Master
VIII accept said bid and strike off all said
property AZ an entirety 20 Fueh bidder sub
terf . ro-,ir,na,to. 81 tbe aafe H., ,he ,.o,,t
r. however. the highest bic received for sair
properly, when offered n an entirety, shall
be less thar the aggregate amount ~ the
several highest bids for 50 I'd property. when
offered IN separate parcels as hereinabove
provided, then she Special Master viii accep,
+ he highest bid received for each parcel oi
esid property when offered separately a.
aforesaid, and win strike off the same to
such bidder subject 10 confirmation Of the
II. In making the seia directed bv said
fecree. the Special Master WI accept 10 bid
from any bldder who ghali not, prior 70 ths
day OF sale, deposit With the Special Master
as pledge that he viii make good hts hio
NJ The event OF iis Acceptance
subject 10 tse len cS the ~ ITss ~. MoGpsasVs MPpps1V
+ Of the Traction Company ss described Ii
Article VI q said decree, the sum OF
Dy certified check on some national hanh
az riat company in tbe CITY of New York
~ lie CITY or Prov. .ldence aeceptab bl,
"a the Speolai Master. and made or en-
dorsed payable 20 his order Al the option
~ tire bladder one Hundred Thousand dol.
lars principal amount of First Mortgage
aa ror% aa 81 TX aoa cmsaG' oonas !" se's Ss
eompauicd by the interest warrants dus
March /. 1919, and subsequently,, may b'
b9 partly IN cash OF hy certified check anc
4 partly IN said First Mortgage Bonds but II
the same relative proportions
N..Aw