Evening journal., 1922-01-20


In pursuance OF an order Of said Dis
trict Court Of the United States for the
Eastern District OF Michigan, Southern
Division, sitting in equity, made and en-
tered on the Fourth day Of January A.
ID. 1922. In the first above entitled cause
in pursuance OF an order Of said District
Court Of the United States for the Dis
trict Of Delaware. in equity, made and
entered pm the Fifth day Of January,
A. ID. 1922 in the second above entitled
cause, in pursuance Of an order OF said
District Court OF the United States for
the Western District Of New York, In
equity made aid entered on the Fifth
above entitled cause, and in pursuance
OF an order Of said District Court OF the
United States for the Eastern District OF
Pennsylvania, in equity, made and en-
tered on the Fourth day Of January, A.
ID. 1922. in the last above entitled cause
the undersigned William $. Sayres. JrA
Special Master OF said Lincoln Motor
Company "a Delaware C0rporationl here
by gives notice that he will sell at pun
lie auction 20 the highest bidder on the
steps Of the front entrance OF the main
office building of said Lincoln Motor
Company, on West Warren Avenue, cor
ner Of LivernOis Avenue, In the city OF
Detroit Wayne County, Michigan, on
Saturday. the Fourth day Of February,
A. d. 1922 at nine o'clock In the fore
noon, Central Standard Time 1.-THE same
being ten o'clock in the forenoon, East
crn Standard Timel the lands, property
and premises Of said Lincoln Motor Com
pany hereinafter described. INTENDING
purchasers are referred to the several
orders made and entered in said several
causes. and 10 the records therein, and
to the statements Of the Receivers 70 be
filed with the Clerks Of said several
courts, as provided for in said several
orders for more particular description
Of the property 70 be SOLO ana Oh the
terms and conditions OF sale
Any Of the parties to said suits, or any
creditor OF any stakeholder Of said LIN
coin Motor Company, or any other per
son whOmsOever, may, subject 10 one pro
visions OF said orders, bid at such sale,
and II a successful bidder, may purchase
in his, it's or their own right
Said property will be sold subject to
the lien OF. and subject TO the rights OF
the trustee named in. the mortgage given
by said Lincoln Motor Company 70 De
trOit Trust Company as trustee. uateu
July 18th, 1927, under which mortgage,
bonds aggregnting 81, S.. 10000 have been
issued and are now Outstanding) and
subject 10 the rights and liens or vendors
under the land contracts hereinafter set
forth and subject to the liens or persons.
firms or corporations held as collateral
security or otherwise, notes, drafts, sale
contracts. shipping receipts, bills or lad
ing or other securities OF said Lincoln
Motor Company; but otherwise said prop
II The purchaser at said sale shall bid
for said property and assets, free and
clear Of and from the hen Of said mort
gage and the bonds secured thereby, the
Detroit Trust Company as Receiver ap-
pointed by said District Court OF the
United States for the Eastern District Of
Michigan. Southern Division, in equity,
is authorized 30 exercise the rights OF
said Lincoln Motor Company, as mort
garor In said trust mortgage, to redeem
said outstanding mortgage bonds, as pro-
vided for in said trust mortgage. using
for that purpose part Of the moneys re
ceived or receivable on the sale OF said
said property and assets will be Of
fered and sold IN one parcel and as an
entirety.
Offering 10 bid who shall not, at least
twenty four hours prior 70 said sale, de-
post with the undersigned and deliver
10 him, as a pledge that he will make
good his bid in case Of its acceptance,
the sum Of Two Hundred Fifty Thousand
Dollars $3.50 100000 in cash, or certified
check on. or cashiers check Of, some
national bank or trust company in the
City OF New York. in the city OF Detroit,
Michigan. in the City Of Boston, Massa-
chusetts in the City Of Philadelphia,
PENNSYLVANIA, or in the City Of Dover,
Delaware acceptable 10 the undersigned,
and made and endorsed payable to his
order, OF $500 10000 principal amount,
IN notes, obligations Of, or claims against.
Lincoln Motor Company, filed with the
Detroit Trust Company, Receiver ap-
pointed by said United States District
Court for he Eastern District Of Michi-
gan, Southern Division, In equity. on OF
before February LIST, 1922, and allowed
by the undersigned, accompanied. by an
propriate transfers thereof, TO the UNDER
signed. Such deposit may be made part
ly In cash or certified check or cashiers
check. as aforesaid. and parAy in notes
or obligations OF, or claims against. the
Lincoln Motor Company. but in the
same relative proportions.
Any deposit received from an unsuc-
cessful bidder will be returned to him
when the property shall be struck
successful bidder or bidders viii be
applied on account OF the purchase
I price Of the property subject to the
terms and conditions hereinafter set
/ Nerth No bid will be accepted for said
! Property and assets less than the sum
I OF Eight Million Dollars (SS.000, 600 OO)
! for the property free and clear.
In case any bidder upon the accent
ance OF his bid by the undersigned shall
/ fail to comply, within the period Of
| twenty days after the entry thereof
/ with any order OF said several courts
I requiring or relating to the payment OF
the balance Of the purchase price, the
moneys or claims deposited BY such
accepted bidder win be forfeited as a
penalty for such failure. and applied to
l the payment OF the expenses OF a re-
sale. and towards making good any de-
I fciency or loss, in case said property
! shall be sold at a less price on such
/ resale. and 10 such other purposes as
the Court may direct. II said sale shall
not be confirmed. the deposit made IN,
/ the accepted bidder will be forthvisb
returned. The purchaser. upon con-
frmation OF the sale. shall make sncn
/ further payment or payments in cash
on account Of the purchase price as the
I Court may from time to time direcr
! So much Of the purchase price as ros,,
/ not be required by the Court to be paid
In cash. may either be paid in cash or
/ the purchaser may satisfy and mall
good the residue Of his bid. in whole or
in part, by turning over to the under
signed to be cancelled or CREDITED
notes. obligations OF claims. with proper
/ transfers thereof, entitled to share in
/ the distribution OF the proceeds Of sale
In lieu Of such notes, obligations or
claims. the undersigned is authorized
TO accept the certificate OF any trust
company in the City OF Detroit Michi-
gan. or in the City or Cleveland Ohis
Accountable To the undprsfrned that a.