The New York herald., 1922-09-14
Notice Of Sale
lnterboroush Rapid Transit Company
STOCK

NOTICE IS HEREBY GIVEN that.
pursuant to the terms, provisions and powers
contained in certain Trust Agreement dated
the fifth day Of March,, 1906, made. BY
lnterborough Metropolitan Company 70 WIND
sor Trust Company 70 secure an issue OF
the Collateral Trust Four and A Halt Per.
Cent Gold Bonds OF said Interborough- Metro
politan Company for principal amount NOT
$50 ,ooo, ,ooo), and pursuant also TO decree
OF the United States District Court for the
Southern District of New York dated the
the oes Of the Clerk Of Asa said pq Court e On the
fifth day of July, 1922. In the Matter Of
Interborough Consolidated Corporation. Bank
rupt. successor to said Interborough- Metros
politan Company. In Bankruptcy No. 2o69o;
and the order amendatory thereof dated and
entered the 28th day OF August. 1922. the
undersigned EMPIRE TRUST COMPANY,
ment dated the fifth day Of March, 1906.
will, through James X. Sheffield, Trustes
IN Bankruptcy of Interborough Consolidated
Corporation, appointed Special Master for
thereunto authorized by said Empire Trust
Company, offer for sale at public auction
on the ninth day OF October. 1922. at
eleven o'clock in the forenoon at Room 401
in the Post Office Building in New York
County. at the intersection OF Broadway and
Barclay Street, New York, in the Borough
OF Manhattan, City Of New York. all and
singular the collateral pledged and deposited
under said Trust Agreement. TO wit, three
hundred and thirty-nne thousand, one hum
dred and twenty-eight 1888, 9,i2s) shares OF
the par value of one hundred dollars (Sf00)
per share, OF the capital stock of Inter-
borough Rapid Transit Company. corpora
ton organized and existing under and by
virtue OF the laws of the State OF New York.
Pursuant TO said decree of July 3, 1922,
James r. Sheffield. as Trustee in Bankruptcy
OF said Interborough Consolidated Corpora
ton, will join in said sale and in any and all
appropriate transfers. conveyances or assign
ments OF said security made pursuant 70 such
sale Said sale will be subject TO the approval
OF the United States District Court for tho
Southern District of New York. and will be
subject TO all the other terms and conditions
contained in the decree Of said court dated
the third day OF July, 1922, above referred
to. and on file in the Office OF the Clerk OF
OF said Trust Agreement dated the fifth day
or March, 1906, copy OF which has, for
the information OF intending purchasers, been
deposited with the clerk Of said court
SAID shares of stock will he sold as an
entirety and in one block parcel. free
and clear of all liens, equities and cncuri-
bfances OF or IN favor OF Windsor Trust
Company as Trustee. Empire Trust COM
psny as Successor Trustee under said Trust
Agreement dated March S, 1906. and all other
hens or encumbranees of whatsoever nature
OF all rights and equities Of the Bankruptcy
Trustee, lnterborough Consolidated Corpora
ton, Bankrupt, and creditors and stockholm
ers OF the bankrupt and other persons claiming
by. through or under the bankrupt.
said shares of stock arc to be sold to
satisfy hen for principal and interest
amounting 10 seventy-hve million, one hun.
dred and seventy thousand, seven hundred
and hfty.seven dollars and eighty-two cent,
t15,i70,7S7.s2) with interest thereon at the
rate OF fou! and half (4ts) per cent from
the third day OF July. 1922, together with
the costs and expenses OF the sale and ths
advances. ices, charges, expenses and counsel
fees OF the Trustee under said Trust Agree
ment as the same may be determined, fixed
and allowed by the court
NA f1r
unless i be accompanied by certified check
tor fifty thousand dollars (Sso,00o) payable
10 the order OF Empire Trust Company issued
en- bank or trust company located in the
Wy OF New York having capital, surplus
and undivided profits Of at least five hundred
thousand dollars (S500. .00O)
The purchaser at the sale will be required
to pay or TO undertake 10 pay in cash such
sums may be fixed by the court a. the
expenses OF the sale and the costs, charges
advances, expenditures, compensation and
Counsel tees OF Empire Trust Company a.
Trustee and such other charges against the
procecds OF sale as may hereafter be ordered
anc directed by the court; and the purchaser
may turn IN and apply towards the payment
OF 90 much OF the purchase price as NAV not
be as above or by order Of the court here.
after made required 10 be paid in cash. arv
bonds issued and outstanding under said
rust agreement and any matured and
PAID interest coupons TO the amount that
such bonds or coupons respectively or claim.
Tor principal or interest would be entitled ~
receive OF collect upon ratablc distribution
among the holders thereof OF the net pro
cecds of sale; but such bonds, coupon, ard
interest claims so applied shall he deerned to
oe paid only 20 the extent so applied, all as
more particularly provided in said Trust
Agreement and said decree
At the conclusion Of the bidding at said
sale. the successful bidder win be required Il,
rgn memorandum Of the terms OF sale
:. Two days after the conclusion OF the bid.
ding az two o'clock in the afternoon. the
Trustee IN Bankruptcy and the Empire Trust
company viii report the result Of said sale to
the court az said Court Room 4Oi Post Ofhc-
Bunding. Borough OF Manhattan, City of
New York. for such orders judgments nr
decrees as may by the court be deemed proper
o. advisable. No further notice Of such report
or OF the hearing thereon will be given TO
any party.
The sale may from time to time. bv a,-
nouncement az the time and place fxed there
for, be adjourned, as provided in said decree
o. July >, 1922. No further or other notice
Of any adjournment need be given. and with.
out any further notice said sale NAV be made
o. the time 70 which the same shall Sc 80
adjourned
Dated. New York, September ~. 1922.
EMPIRE TRUST COMPANY
a. successor Trustee under sid
Trust Agreement dated March s.
1906.
Approved.
JAMES r. SHEFFIELD.
Trustee IN Bankruptcy OF rrt~v.
60. -. q