The New York herald., 1921-05-26
FORECLOSURE SALE.

4
decree and hereinafter referred TO as the
'Ffrst Mortgage of the Traction Company.
beng the property described IN Article "
OF saia decree tand hereinafter referred TO
ta) all of the shares Of the capital stock
authorized and issued Of tho Union Railroad
I Company, corporation created by an Act OF
| the General Assembly OF the State OF Rhode
Island. wig
10000 shares of the par vaiue of 500
| each:
% all OF the shares of the capital stock
authorized and issued of the Pawtucket
b% par
Of the State of Rhode Island. viz:
5000 shares of tho par .vaiue OF 500
(c) 2.eos shares OF the par value OF 800
each of the 5000 authorized and issued
| shares Of the capital stock of the Providence
eaed by aS os iS
Of the State OF Rhode Island:
e (dl all the rish:-. benefits and securities.
at the date OF said decree OF May 3. 1921,
or shall thereafter become. entitled under
tween the. Traction Company and the said
| Union Railroad Company. bearing date the
first day OF March. 1898. and particularly
Gold Bonds of said Union Railroad Com
pany authorized and issued amounting to
1900 bonds OF the aggregate face value Of
y. 00o0. dated July /. 1892. due July l..
lel2, and secured by mortgage dated July
!. 1892. to Industrial Trust Company.
te) all the rights, benefits and securities
! II any, to which the Traction Company was
1t the date Of said decree, or shall thereafter
become entitled under and by virtue of two
certain agreements. each dated March l..
1898. one thereof between the Traction Com
| pany and the Pawtucket Street Railway
! Company, and tho other between the Trac-
ton Company and the Providence Cable
Tramway Company
| IN favor of the Traction Company arising
out Of the use and occupation OF the prop
| Providence Gable Tramway Company by the
receivers Of The Rhode Island Company
! heretofore appointed by said Superior Court
In the cause therein pending entitled John
I J. Orr. complainant, VS.. The Rhode Island
c9mpaanny, defendant. Equity No. !, ss9s;" r.,
Of the Traction Company. and OF It's receiver.
not subject to tho First Mortgage Cherein
cludng but without limitation the following
lal the following shares OF capital stock
10000 shares of the par value OF SlO0 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
and issued;
/ (b) all the right, title and interest of the
Traction Company in and TO certain office
furniture, fixtures, materials and supplies
located at the office OF the Company In the
Cry Of Providence. Rhode Island;
tce any, rights or claims there may be
In favor OF the Traction Company arising
out OF the use and occupation of the prop
critics OF said Rhode Island Suburban Rail-
way Company by the receivers Of The Rhode
Island Company heretofore appointed by said
Superior Court In the cause therein pending
spntit,ed prda ,"; "John j Orr complainant: vS The
No. 1888" and any other rights or claims
OF the Traction Company Of Whatsoever
nature or character whether against The
or otherwise not subject TO the First Mort
gage of the Traction Company.
np att ~t-At -
property to be sold and of the terms OF sale.
Intending purchasers are hereby referred to
said decree Of foreclosure and Sale and said
As more fully provided by said decree to
which H. reference Is hereby made:
The Special Master will first offer for sale.
n one parcel as an entirety. all and singular
and sale adjudged to be embraced in or un-
der and subject to the lien of the First Mort
| gage of the Traction Company and described
In Article VI Of said decree (being parcel Al 1.
and will note tho highest bid therefor.
in one parcel as an entirety. ali sther err prop. p.
! erty Of the Traction Company adjudged by
raid decree not to be subject to the lien Of
the First Mortgage Of the Traction Company
| and described in Article NJ of said decree
(heing parcel b. and will note the highest
bid therefor.
In one lot and rs an entirety all the property
described in Article VI and in Article xf OF
said decree, and previously offered for sale
under said decree (beinS parcels a and -
and will note the highest bid therefor.
All bids for said parcels separately shall be
received and noted only upon the conditions
hereinafter specified.
II the highest bid received for the whole of
said property when so offered for sale as an
OF the several highest bids therefor, when
offered for sale In separate parcels as here
inabove provided then the Special Master ts =,
property entirety to such bidder sub
iect TO confirmation Of the sale by the Court.
II, however. the highest bid received for said
property, when offered entirety, shall
be less than tho aggregate amount OF the
several highest bids for said property. when
| offered In separate parcels as hereinabovc
provided. then the Special Master VIII accept
the highest bid received for. each parcel OF
aforesaid. and viii strike off the same TO
such bidder subject TO confirmation Of the
II. In making the sale directed by said
decree. the Special Master VIII accept no bid
from any bidder who shall not. prior to the
asa pledge that he viii make good his bid
in the event of Its acceptance
subject to the lien Of the First Mortgage
OF the Traction Company described In
Article VI OF said decree. the sum OF
By certified check on come national bank
or trust company In the City OF view York
or n the G 81 ana made ep en
dorsed payable 70 his order. At the option
OF the bidder One Hundred Thousand dol
lars principal amount OF First Mortgage
form. and II interest warrant bonds. ac-
conpanied by the interest warrants due
March 1. 1919, and subsequently. may be
deposited In lieu of cash. such deposit may
partly In said First Mortgage Bonds but in
the same relative proportions:
% In case OF the property adjudsed
by said decree not TO be subject TO the
lien of the said First Mortgage and de-
scribed IN Article XI OF said decree. the
by certified check as aforesaid.
(c) In the case OF the property de-
scribed In Article VI and In Article xI
OF said decree. an entirety, the aggre.
check as aforesaid. or the aggregate OF
bonds OF the character and to the amounts
which would be required under the fore
going. clauses la) and (b) In order to
erty when offered IN said parcels.
In lieu OF thu deposit OF bonds and In
terest warrants In accordance with the
requirements OF any OF the foregoing
lclauses. the Special Master may accept the
certificate or certificates OF any solvent
bank, banking institution, trust company
| or banking firm acceptable 10 the Special
Master. that II holds, subject 10 the order
of the Special Master, bonds OF tn, the, re,
interest warrant bonds, accompanied oy tne
required interest warrants.
The deposit made by any bidder for sepa-
rate parcel may so far as applicable DO ap-
piled on account of the deposit required to
be made in order 10 qualify him TO bid for
the same property when offered for sale
| with the other property as an entirety. Any
deposit received from an unsuccessful bidder
| viii be returned 20 him when the property
shall have been struck off. The deposit re-
ceived from the successful bidder or bidders
shall b. applied on account OF the purchase