Evening journal., 1922-01-06
NOTICE OF SALE

Il DeleWare corporation,
Defendant
NOTICE OF SALE
In PURSUANCE Of an order Of said Dis
triict 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 I;
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 Fifth
day of January A. ID. 1922, in the fourth
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. 1872 i'm the last above entitled cause
the Undersigned William $ Sayres. Jr,
Special Master OF said Lincoln Motor
Company Ia Delaware COrporattOn) 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 mann
Office building OF said Lincoln Motor
Company. on West Warren Avenue. cor
uer 0f LivernOis Avenue, in the City Of
Detroit Wayne County, Michigan, on
saturday the Fourth day Of February,
A. ID. 1921 at nine O'Clock In the fore
noon. Central Standard Time (the same
being ten O'Clock in the forenoon, East
urn Standard Time) the lands property
and premises OF said Lincoln Motor Com
panv hereinafter described. Intending
purchasers are referred Co the several
orders made and entered In said several
causes. and to the records therein. and
to the statements Of the Receivers to he
filed with the Clerks or said several
courts as provided for in said several
orders for more particular description
II the property TO be sold and OF the
terms and conditions OF sale.
ANY Of the parties TO said suits, or any
creditor or any stockhOlder Of said Lin
coin Motor Company, or any other per
son w-hOmsoever. may, subject TO the pro
visions OF said orders, bid at such sale,
and. II a successful bidder, may purchase
In ht, tbs OF their own right.
Said property viii be sold subject 60
the lion Of, and subject 20 the rights OF
the trustee named In, the mortgage given
bv said Lincoln Motor Company 20 De
froit Trust Company as trustee. dated
July 11th, 1921, (under which mortgage
honds aggregating 81 $50 10000 have been
issued and are now outstandingl ana
subject 10 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 will be sold free and clear Of all
encumbrances.
IL 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 bycsaid District Court Of the
limited States for the Eastern District Of
Michigan. Southern Division, I'm equity.
Is authorized to exercise the rights of
gagOr in said trust mortgage, to redeem
said outstanding mortgage bonds, as pro-
vided for I'm said trust mortgage. using
for that purpose part OF the moneys re
ceived or receivable on the sale OF said
said property and assets win be of
fered and sold IN one parcel and as an
entirety.
No bid win be accepted from any one
Offering 10 bid who shan not, n leasi
twenty four hours prior tn said sale, de
posit with tho undersigned and delfve1
90 hfn as a pledge that he VIII make
good his bid in case Of It's accepta nee
iha sum of Two Hundred Fifty Thousand
I Dollars 1880 0OO.O0) in cash, or certihec
check on. or cashiers check or some
rrtsonal 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
D pennsylvanin. or In the city OF Dover
Delaware acceptable 20 the undersi gned
and made and endorsed payable to hi
order OF SJ0OOOOOO principal amount
I In notes obligations o. or claims against
Idncoln Motor Company, filed with th'
Detroit Trust Company, Receiver an
pointed by said United States DiEtric
I Court for he Eastern District Of Michi
gan Southern Division. In equity on o.
before February list, 1922. and allowed
/ hy the undersigned, accompanied by ap
propriate transfers thereof. to the under.
signed. Such deposit may be made part
ly IN cash or certified check or cashier
/ check. as aforesaid, and partly in notei
or obligations OF, or claims against. thC
Lincoln Motor Company. but in tn'
same relative proportions
Any deposit received from an unsuc
cessful bidder will be returned to hin
when the property shall be strucl
down The deposit received from tn
applied on account Of the purchas
price Of the property, subject 10 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 CSs. 900, 900 00)
for the property free and clear
In case any bidder upon the accent
ance Of his bid by the undersigned shal
fail to comply. within the period q
twenty days after the entry thereof
with any order Of said several court
requiring or relating to the payment o
the balance OF the purchase price, tn
moneys or claims deposited by sucl
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 any de
fciency or loss. IN case said propert.
shall be sold az less price on sue
resale. and to such other purposes a
the Court may direct II said sale shal
not be confirmed. the deposit made b.
the accepted bidder will be forthwith
returned. The purchaser, upon con
frmation OF the sale. shall make eucl
further payment or payments In casl
on account Of the purchase price as tn
Court may from time to time direct
So much OF the purchase price as ma,
not be required by the Court to be pai
in cash. may either be paid in cash o
the purchaser may satisfy and max
good the residue Of his bid. In whole o
In part. by turning over to the under
signed to be cancelled or credited
notes. obligations or claims, with prOpe
transfers thereof. entitled 10 share II
the distribution Of the proceeds Of sale
In lieu OF such notes. obligations o
claims the undersigned Is authorize
b