Evening journal., 1922-01-13

NOIlCB Ot SAtAE
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.
d. 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 on 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 and entered on the tltth
day Of January A. ID. W., IN the IourLh
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 ana en-
tered on the Fourth day OF January A.
d. 1922 in the last above entitled cause
the undersigned william S. Sayres, Jr.,
Special Master of said Lincoln Motor
Company "a Delaware CorpOrtlOnl here
by gives notice that he will sell at pub
lie auction to the highest bidder on the
steps Of the front entrance OF the aln nam
Office building Of said Lincoln Motor
Company on West Warren Avenue, cor
ner Of LiyernOis 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
ern Standard Time) the lands property
and premises Of said Lincoln Motor CoIn-
pany hereinafter described. INTENDING
purchasers are referred TO the several
orders made and entered in said several
causes, and % the records therein, and
to the statements Of the Receivers to be
fled with the Clerks OF said several
courts, as provided Tor IN saiu seNeral "a
orders for a more particular description
Of the property TO be sold and OF the
terms and conditions OF sale.
Any OF the parties to said suits, OF any
creditor or any stockholder OF sald In
coin Motor Company, OF any other per
son v-bomsoever. may, subject to the pro
visions OF said orders, bid at such sac,
and. If a successful bidder, may purchase
in his, it's or their own right.
Said property viii be sold sunlect "a
the lien Of. and subject 10 the rights Of
the trustee named in, the mortgage given
! by said Lincoln Motor Company 70 De
4 trOit Trust Company as trustee. uaued
July 11th, 1921, (under which mortgage
bonds aggregating Sl,Ss2,O OOO.VO nave DeeI
issued and are now outstanding) and
subject 30 the rights and liens or vendors
under the land contracts hereinafter SET
FORTH and subject TO the liens OF persons
firms or corporations. held as collateral
security or otherwise, notes, drafts, sale
contracts shipping receipts, bills OF lad
ing or other securities OF said Lincoln
Motor Company; but otherwise said prop
erty viii be sold free and clear OF all
n he purchaser at said sale shall bid
for said property and assets, free and
clear Of and from the lien 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 Tor the Eastern District of
Michigan, Southern Division, In equity
Is authorized TO exercise the rights OF
said Lincoln Motor Company, rs mort
gagOr in said trust mortgage, TO redeem
said outstanding mortgage bonds, as pro
| for that purpose part Of the moneys re-
ceived or receivable on the sale Of said
property.
said property and assets viii be Of
I fered and sold IN one parcel and as an
No hid win be accepted from any on,
/ Offering to bid who shall not, at lensl
twenty -four hours prior 10 said sale, de
posit with the undersigned and deliv1
10 him, as a pledge that he VIII max,
good his bid in case Of It's acceptance
| the sum Of Two Hundred Fifty rhOusant
/ Dollars $3.50 100000 in cash, or certine,
/ check on, or cashier's check Of, sOm'
national bank or trust company in tn,
City Of New York. in the City Of Detroit
Michigan, In the City Of Boston, Massa
chusetts, in the City OF Philadelphia
] pennsy ylvania, or in tire City Of Dover
! Delaware. acceptable 20 the undersigned
and made and endorsed payable 10 hi
/ order. OF Sj0OOOOOO principal amount
| in notes, obligations Of, or claims against
Lincoln Motor Company, filed with tn
Detroit TRUST Company, Receiver ap
pointed by said United Sntes Distris,
Court for he Eastern District Of Mlchi
gan, Southern Division, in equity. on o
/ before February 1st, 1922. and allowe,
by tho undersigned, accompanied by an
lpropriate transfers thereof. to the under.
| signed. Such deposit may he made part
] ~ In cash or certified check or cashior'
check. as aforesaid and partly in notei
OF obligations Of, or claims against, tn,
Lincoln Motor Company. but in tn
same relative proportions.
| Any deposit received from an unsuc
| cessful bidder will be returned to hin
down The deposit received from IN
| successful bidder or bidders will b
| applied on account Of the purchas
price Of the property, subject to tn
| terms and conditions hereinafter Sc
| forth. No bid viii be accepted for sal,
property and assets less than the sun
Of Eight Million Dollars (ss. OOO. 900 OO)
for the property free and clearl
In case any bidder upon the accent
ance OF his bid by the undersigned sbai
twenty days after the entry thereof
with any order OF said several court
requiring or relating 10 the payment o
the balance OF the purchase price. IN
accepted bidder win be forfeited as
penalty for such failure and applied 4
the payment OF the expenses OF a re
sale. and towards making good anv de
nciency or loss in case said .propert
shall be sold at a less price on sue
res sale. and to such other purposes a
| the Court may direct. II said sale sba
not be confirmed. the deposit made h
the accepted bidder will be forthyvtf
| returned TIE purchaser. upon con
| nrmation of the sale. shall make euc
further payment or payments in cas-
| on account of the purchase price as ~
! Court may from time to time direci
SO much OF the purchase price as ma
not be required by the Court to De- pa 4
In cash. may either be paid in cash .
the purchaser may satisfy and rnair
good the residue Of his bid. in whole y
In part. by turning over to the under
signed to be cancelled or credifA
notes obligations OF claims, with prone
| transfers thereof, entitled to share Ii
| the distribution Of the proceeds of saie
In lieu OF such notes obligations o
| claims. the undersigned Is authorize,
/ 10 accept the certificate OF any trus
| company in the City OF Detroit. Michi
gan. or in the City OF Cleveland, Ohio
acceptable 70 The undersigned. that