The New York herald., 1922-03-25
LEGAL NOTICES.
NOTICE OF MASTERS

Gerry o; the State OF New Jersey on February
Srd. 1922, In cause wherein Kate s. Good
rich and The Farmers Loan and Trust Com
pany, individually and as Executors OF and
Trustees under the Last VIII and Testament
q Thomas A. sperry. deceased. are com
are defendants. l.. Edward Hermann. Esq.
one OF the Special Masters OF said Court Of
Chancery. win sell at public auction to this
the Prudential Building. No 1853 Broad
street, IN the City Of Newark, New Jersey.
on wednesday. April 18th. 1922 at II o'clock
~ the forenoon. or at the time to which such
sale may be adjourned. 5009 shares OF the
capital stock OF The Sperry Hutchinson
Company corporation Of the STATE STAT oS Of New
The said The Sperry Hutchinson Company
Is engaged in the Trading Stamp business.
Haid shares win be sold as a whole and
not IN separate lots and the sale will bo
made expressly subject TO confirmation
thereof by said Court OF Chancery.
Prior 10 the sale the Special Master will
require any bidder or bidders for said shares
10 deposit with him In cash, by certified
check. $4,000. and at the conclusion Of the
bidders 10 similarly deposit with him tho
additional sum OF $4,000. At the conclusion
OF the sale all such deposits, except those
returned TO the respective bidders. II the sala
shall be confirmed by the Court the deposits
SO made by the successful bidder or bidder.
VIII be applied toward the satisfaction o.
his or their bid. and II the sale shall no
be so confirmed such deposits win be re
sale shall be confirmed and such highest
bidder or bidders shall fail or refuse 10
consummate the sale by paying the balance
OF such highest bid in the manner herein-
after provided, the aggregate amount Of said
deposits win be deemed to be llquldated
damages resulting to the said Kate s. Good
rich and The Farmers Loan and Trust Com
pany, Executors and Trustees as aforesaid
by reason OF such failure and refusal. aud
Master
The purchaser OF said shares a, the sale
VIII be entitled to receive all dividends or
other distributions made thereon. or rights
10 subscribe for additional shares of The
Sperry Hutchinson Company by reason OF
The ownership thereof accrung subsequent
10 the 18th day Of March. 1922.
II the sale shall beconfrmed by the Court
the highest bidder or bidders viii be re-
CURED to pay. 70 the Special Master in cash
or BY certified check. on account OF the pur-
chase price OF such shares. such further
amount as with the sums aggregating sec, ,O00,
so to be deposited by such bidder or bida-rs
shall equal 30Gs OF such highest bid. and IN
addition thereto at the option OF such bidder
or bidders shall also then % either simi-
larly pay TO the Special Master the remain-
Ger of the amount Of such bid. or t2l Sc
cure the payment thereof In manner follow
Ing. VIZ. By the delivery at such time 70 III,
said Executors and Trustees OF promissory
notes of such bidder or bidders. payable 20
the order OF the said Executors and Trus-
tees, each thereof for an amount equal 70
one-eghth OF the remainder OF such highes,
bid. payable With interest thereon semi Ian
nually al the rate OF Go per annum. in five
thereof. The payment OF all Of said pron1is-
sorry notes is 20 be secured by the deposit
with the said Executors and Trustees OF So
euritie5 In which Trustees re authorized TO
invest under the laws OF the State OF New
Jersey. or then aggregate market value OF
not less than 1855 OF the aggregate prin-
cipai amount of all such promissory notes.
such collateral being limited, however, TO thr
following classes OF securities I'D United
States Government bonds. C2) State anc
Municipal bonds: (3) Railroad bonds; "a.
Federal Land Bank bonds; and In the even
that the collateral should be other than OBJ
lisations of the United States. or the State,
OF New Jersey or New York the marie,
value OF any particular security IL not 20
exceed 1905 % the total market value OF tho
collateral. Each Of such pronissory notes
shall provide that III upon the failure &c
fully and promptly pay any installment o.
principal or interest at any time becoming
due thereon when due. the entire amount
thereof. and OF all of the other OF said
promtssory notes then remaining unpaid.
shall thereupon become and be Immediately
duo and payable. and that In the event o;
airy default the holder OF said notes ~ 10
htye the right 10 sell the whole or any part
of 'aid collateral at public or private eale
at the option OF such holder without either
advertisement or notice. and n sold AT any
such public sale 20 become the purchaser %
such collateral free from all right of re-
demption: 90 the payment OF any such IN
staliment OF principal may be anticipated
and made by the maker or makers cf such
annual payment OF interest may become due
thereon; and go upon the payment OF any
|
such promissory note there shall be sur
rendered 70 the maker or makers thereof =
proporfionate amount IN market value OF the
bonds deposited TO secure tho payment Of
such promissory notes.
For further particulars reference Is hereby
made 10 the said decree on file with the
Clerk OF said Court OF Chancery at Trenton.
New Jersey. a copy OF said decree may be
seen upon due application at the office OF
either the Special Master or tho solicitors
for the sbove-named complainants.
l.. EDWARD HERMANN,
Special Master IN Chancery,
Is Exchange Place.
Jersey City, n. J.
KATE 3. GOODRICH.
THE FARMERS LOAN q
TRUST COMPANY,
BY w. II. CARDOZO,
Vice President.
rs>al1 Executors OF and Trustees
Attest. under the Last VIII and
A. ~ HTELY. Testament Of Thomas A.
Secretary Sperry, deceased. Com
plainants.
LINDABURT, DEPUE q
FAULKS.
Solicitors for Complainants.
T6s Broad Street.
Newark. n. J.
Dated. March nth. 1922.