The New York herald., 1922-03-11
LEGAL NOTICES.
NOTICE OF MASTERS

SALE OF SHARES or STOCK.
NOTICE is HEREBY GIVEN that BY vlr-
tue OF a decree made by the Court of Chan
cery OF the State of New Jersey on February
oru, lo22, in a cause wherein Kate 5. Good
rich and The Farmers Loan and Trust Com.
pany. individually and as Executors OF and
trustees under the Last Will and Testament
or Thomas A.. Sperry. deceased, are COM
plainants and Susan u. Sperry and others
are defendants. l.. Edward Hermann. ESQ.
one of the Special Masters of said Court OF
Chancery, will sell at public auction 10 the
highest bidder at the Chancery Chambers IN
the Prudential Building. No. 1853 Broad
street, in the City of Newark, New JERSEY
on wednesday. April 18th, 1922, at IL O'Clock
IN IN me forenoon. or at the tim time to which sneh
capital stock of The Sperry Hutchinson
company. corporation of the state OF New
Jersey rha ..a OF TIT fhe par value OF $1,000 eson,
Is engaged in the Trading Stamp business.
Said shares Will be sold a whole and
not IN separate lots and the sale viii ee
made expressly subject TO confirmation
thereof by said Court OF Chancery.
Prior TO the sale the Special Master win
require any bidder or bidders for said shares
10 deposit with him in cash. or by certified
check, 1000, and at the conclusion OF the
sale he VIII require the highest bidder or
70 s Sma IL .so NTH him ne
OF the sale all such deposits, except those
made by the highest bidder or bidders. will he
returned to the respective bidders. II the sale
shall be confirmed by the Court the deposits
so made by the successful bidder or bidders
win be applied toward the satisfaction or
his or their bid. and II the sale shall not
turned to said bidder bidders II the
sale shall be confirmed and such highest
bidder bidders shall fail refuse to
consummate the sale by paying the balance
of such highest bid in the manner herein
after provided, the aggregate amount Of said
deposits will be deemed TO be liquidated
damages resulting to the said Kate s. Good
rich and The Farmers Loan and Trust Com
pany, Executors and Trustees aforesaid.
- 81 ll..xA 1..A -
paid over to them as such by the Special
Master
The purchaser OF said shares at the sale
will be entitled to receive all dividends
other distributions made thereon. rights
TO subscribe for additional shares of The
Sperry & Hutchinson Company by reason Of
the ownership thereof accruing subsequent
to the 18th day of March. 1922.
II the sale shall be confirmed by the Court
the highest bidder or bidders will be re-
quired TO pay to 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 $50, 900.
so to be deposited by such bidder or bidder
shall equal 30eo of such highest bid. and In
addition thereto at the option OF such bidder
or bidders shall also then CD either smi.
larly pay to the Special Master the remain
der of the amount of such bid, (2l
cure the payment thereof In manner follow
ing. VIZ, by the delivery at such time TO ~ ,
said Executors and Trustees of promissorY
notes of such bidder or bidders, payable 70
the order of the said Executors and Trus-
tees, each thereof for an amount equal 70
one-eighth of the remainder of such highest
bid, payable with interest thereon semi-an-
nually at the rate of SO per annum. in five
equal annual installments after the date
thereof. The payment of all of said promis-
sorry notes Is to be secured by the deposit
with the said Executors and Trustees OF Sc
eurities In which Trustees are authorized 10
Invest under the laws of the State OF New
Jersey. of n then aggregate market value of
not less than 115qo of the aggregate prln-
cipal amount Of all such promissory notes.
I1Hh Hat kAtn It.,,lta I,D,n 30
following classes of securities I'D United
states Government bonds; (2l State ard
Municipal bonds: 90 Railroad bonds; O.
Federal Land Bank bonds; and In the event
that the collateral should be other than oh
legations of the United States. or the States
OF New Jersey or New York, the market
value OF any particular security In not 10
exceed 10eo of the total market value of the
collateral. Each of such promssory notes
shah provide that d) upon the failure 10
fully and promptly pay any installment Of
principal or interest at any time becoming
due thereon when due. the entire amour
thereof. and of all of the other of said
promissory notes then remaining unpaid
shall thereupon become and be irmedia tely
duo and payable, and that in the event OF
any default the holder of said notes Is 10
have the right to sell the whole any par
of said collateral at public private sale
at the option of such holder without either
| advertisement or notice, and II sold at any
such public sale to become the purchaser OF
such collateral free from all right of re
demption. 90 the payment of any such in
stalfnent OF principal may be anticipated
and made by the maker makers CT such
promissory notes any day when semi
annual payment of interest may become due
thereon; and (3) upon the payment of any
such installment of principal amount on any
such promissory note there shall be sur
rendered 10 the maker makers thereof q
proportionate amount in market value of the
bonds deposited to secure the paymnnt or
such promissory notes.
For further particulars reference Is hereby
made to the said decree on file with the
Clerk of said Court of Chancery at Trenton
New Jersey. A copy of said decree may be
soen upon due application at the office OF
| either the Special Master or the solicitors
for the above-named complainants.
l.. EDWARD HERMANN
Special Master In Chancery
IL Exchange Place.
Jersey City. N. J.
KATE s. GOODRICH,
THE FARMERS LOAN 4
TRUST COMPANY,
BY w. n. CARDOZo.
Vice President
TSeall Executors OF and Trustees
Attest: under the Last Will and
A. v. HEELY, Testament of Thomas A.
Secretary. Sperry, deceased, Com
plainants.
LlNDABURY, DEPUE
FAULKS.
Solicitors for Complainant-
T69 Broad Street,