The New York herald., 1921-05-20
FORECLOSURE SALE.

authorized and issued of the Union Railroad
company. corporation created by an Act of
Island. viz.
each:
(b) all of the shares OF the capital stock
authorized and issued Of the Pawtucket
Street Railway COMPANY. corporation
of the State OF Rhode Island. viz:
5000 shares OF the par value of 500
each:
tc) 2.ses shares of the par value OF 500
shares OF the capital stock OF the Providence
Saoie Sraa,aa Tramway Company a corporation
of the State of Rhode Island
y any, TO which the Traction Company was
or shall thereafter become, entitled under
ana py virtue OF certain agreement be-
nen RsonS e Tssto Company and ns sas
first day of March. 1898. and particularly
an al Of the First Mortgage -Four Per Cent.
gany authorized and issued amounting 10
s,voS oSo bends bond OF the aggregate face value Of
ffS;ooo ffS;;s ,ooo. dated July J. 1892. due July 4.
1vl%. ana secured by a mortgage dated July
J, 1892. to Industrial Trust Company.
,s) ali the rights. benefits and securities.
II any, TO which the Traction Company was
al the date of said decree, or shall thereafter
become entitled under and BY virtue OF two
certain agreements. each dated March |,
1898. one thereof between the Traction Com
pany and the Pawtucket Street Railway
company, and the other between the Trac-
tlon Company ana the Providence Cable
Trainway Company:
dl 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 the Union Railroad Company, the
Pawtgellet Street Railway Company. aud the
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
Y 1pH nj fAnp lKAIn IaID "a
Company. defendant, Equity No. 1898"
u. All property, and interests In property
OF the Traction Company. and of It's receiver,
not subject 10 the FIRST Mortgage (herein
sometimes referred TO as parcel BID In
GLIDING but without limitation the following:
(al the following shares of capital stock
10000 shares of the par value OF 500 each
ot the capital stock Of Rhode Island Subur-
ban Railway Company. corporation created
State Of Rhode Island. being all OF the
capital stock of said Company authorized
and issued.
:. tb) all the right. title and interest OF the
furniture. fixtures. materials and supplies
located at the office OF the Company In the
city OF Providence. Rhode Island;
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
" 4
Rhode Island Company, defendant Equity
No. 4a93.' and any other rights or claims
o. the Traction Company of whatsoever
nature or character whether against Tho
Rhode Island Company or Its said receivers
OF otherwise not subject 10 the First Mort
gage or the Traction Company.
For more particular description OF the
property TO be sold and Of the terms or sale
Intending purchasers are hereby referred 70
Final Order OF Sale.
AZ more fuzzy provided BY said decree TO
which reference is hereby made
|. The sale directed by said decree VIII be
The Special Master % viii first offer for sale.
4 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 (beng parcel Al,
and will note the highest bid therefor.
The Special Master will next offer for sale
IN one parcel as an entirety, all other prop
erty of the Traction Company adJudged by
said decree not to be subject to the lien OF
and described in Article ri or said decree
tbeins parcel b, and viii note the highest
bid therefor.
The Special Master viii then offer for sale
in one lot and as entirety all the property
described In Article VI and in Article XI OF
said decree, and previously offered for sale
under said decree fbeing parcels 4 and 81 J.,
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
entirety shall equal or exceed the aggregate
OF the several highest bids therefor, when
offered for sale In separate parcels as here
nabove provided, then the Special Master
win accept said bid and strike off all said
property as an entirety 10 such bidder sub
ject TO confirmation OF the sale by the Court.
If however the highest bid received for said
property. when offered az an entirety, shall
be less thar the aggregate amount OF the
several highest bids for said property, when
provided, then the Special Master win accept
the highest bid received for each parcel OF
ssid pr9perS wnen % .,4e 0itefea sspa rsse,y as a.
such bidder subject 10 confirmation Of the
sale by the Court.
IL In making the sale directed by said
decree. the Special Master Will accept no bid
from any bidder who shall not. prior 70 the
day Of sale, deposit with the Special Master;
as q pledge that he will make good his bid
In the event OF Its acceptanee-
{al In ne case Of all The property
OF the Traction Company as described In
Article VI ~ said decree the sum OF
Thirty-Iiyc Thousand dollars IN cash. or
by certified check on some national bank
or trust company In the City Of New York
or IN the City OF Providence acceptable
10 the Special Master, and made or en-
OF the bidder One Hundred Thousand dol
lars principal amount % First Mortgage
81 ns bond IN bearer s
companed by the interest warrants due
March I, 1919. and subsequently, may be
deposited ia lieu of cash. Such deposit may
be partly in cash or by certified check and
partly IN said First Mortgage Bonds but IN
the same relative proportions;
@. i Il ease. case Of the props,s,y adiadssa geo
lien OF the said First Mortgage and do
scribed IN Article Nf OF said decree. the
sum OF Ten Thousand dollars Ia cash or
by. certified check as aforesaid.
fc) In the case OF the property de-
scribed in Article VI and IN Article N
OF said decree, as an entirety, the aRgre-
gate of suc, sums In cash by certified
check as aforesaid. or the aggregate OF
bonds OF the character and 20 the amounts
which would be required under the fore
erty when offered In said parcels.
In lieu of the deposit OF bonds and N
terest warrants In accordance WIN ne
clauses. the Special Master may accept the
certificate or certificates OF any solvent
bank. banking institution; tIust cosnpa,ny sapps,,y
Master. that II holds, subject 70 the order
81 the Special Master. bonds of the re,
gured character IN bearer form, snd, ~
interest warrant bonds. accompanied ny the
required interest warrants.
The deposit made by any bidder for sepa-
rate parcel may so far a. applicable oe ap-
be made IN order 70 qualify him TO bid for
the same property when offered Tor sale
with the other property as en entirety; Any
VIII be returned 20 him when the property
shall have been struck off. The deposit re-
csivsd from the successful bidder or bidesrs
price Of the property.
In case any bidder, upon the oeceptance %
his bid by the Special Master. shall fail 70
comply. within the period OF twenty day.
after the entry thereof with any order of
said Court. requiring or relating 10 the pay
ment OF the balance of the purchase price,
then the moneys or bonds deposited oy fuch