The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-04-01
MONTREAL.
LEGAL NOTICES.
NOTICE OF MASTERS ,

SALE or SHARES or sTocK.
NOTICE is HEREBY GIVEN that by vir.
Gerry of the State of New Jersey on February
3rd. 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
OF Thomas A. Sperry. deceased. are com.
plainants. and Susan b. Sperry and others
one OF the special Masters Of said Court Of
Chancery. will sell at public auction TO the
highest bidder at the Chancery Chambers IN
Street. IN he CITY Of NswarH New Jersey.
on Wednesday, April 18th, 1922, at II o'clock
IN the forenoon. or at the time TO which sucb
capital stock of The Sperry & Hutchinson
Company, corporation OF the State Of New
Jersey. of the par value of $4,000 each.
The said The Sperry g. Hutchinson Company
is engaged In the Trading Stamp business
Said shares viii be sold as a whole and
not in separate lots and the sale win 70
thereof by said Court OF Chancery.
Prior 10 the sale the Special Master will
require any bidder or bidders for said shares
70 deposit with him IN cash, or by certified
check. $4,000, and at the conclusion OF the
sale ha will require the highest bidder or
bidders to similarly deposit with him the
Of tho sale all such deposits. except those
made by the highest bidder or bidders. will be
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 tho satisfaction o.
his or their bid, and IL the sale shall no
be SO confirmed such deposits VIII be re
turned to said bidder or bidders. IL til
sale shall be confirmed and such highest
bidder or bidders shall fail or refuse tc
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 llquidated
damages resulting 10 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, and
paid over to them as such by the Special
Master.
The purchaser OF said shares at the sals
will be entitled 10 receive all dividends or
other distributions made thereon, or rights
70 subscribe for additional shares Of The
Sperry Hutchinson Company by reason Of
the ownership thereof accrujng subsequent
70 the 18th day OF March, 1922.
IN the sale shall be confirmed by the Court
the highest bidder or bidders will be re-
quired 90 pay 10 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 aggregatlng 1000.
so 70 be deposited by such bidder or bidders
shall equal 3oes OF such highest bid. and IN
addition thereto at the option Of such bidder
or bidders shall also then "a either SINH
larry pay 10 the Special Master the remain
der OF the amount OF such bid, or CD Sc
cure the payment thereof IN manner follow.
Ing. viz, by the delivery at such time 70 tho
said Executors and Trustees OF 8 promissory
notes OF such bidder or bidders. payable 70
the order of the said Executors and Trus.
tees. eacn thereof TOT an amount equal to
one-eighth OF the remainder OF such highest
bid. payable with interest thereon serni-an-
nuaily at the rate Of 6es per annum. in five
equal annual lnstalments after the date
thereof. The payment OF all OF said promis-
sorry notes II 20 be secured by the deposit
with the said Executors and Trustees OF Sc.
curitfes In which Trustees are authorized 10
invest under the laws Of the state OF New
Jersey, OF then aggregate market value Of
not less than 1855 OF the aggregate prin-
cipal amount Of all such promisSory notes.
such collateral being limited. however, 10 thu
following classes OF securities I'D United
states Government bonds; GO State and
Municipal bonds; go Railroad bonds; a.
Federal Land Bank bonds: and in the event
that the collateral should be other than OBJ.
legations OF the United States. or the States
value OF any particular security Is not 10
exceed i0es OF the total market value OF the
collateral. Each of such promlssory notes
shall provide that ID upon the failure 20
fully and promptly pay any installment Of
principal or Interest at any time becoming
due thereon, when due: tho entire amount
promissory notes then remaining unpaid,
shall theroupon become and be Immediately
duo and payable. and that 81 the event Of
any default the holder OF said notes Il 10
have the right 20 sell the whole or any part
Of said collateral ut public or private tale
advertisement or notice. and " sold at any
such public sale 90 become the purchaser a
such collateral free from all right Of re-.
demption; 90 the payment OF any such in
and made by the maker or makers cr such
promlssory notes on any day when a semi
annual payment Of interest may become due
thereon and ca upon tho payment OF any
such instalnent Of principal amount on any
such promissory noto there shall be sur.
rendered 10 tho maker or makers thereof
proportiouate amount IN market value Of the
bonds deposited 20 secure tho payment Of
such promissory notes.
For further particulars reference IL herah,
made 70 tho said decree on file with The
Clerk OF said Court of Chancery AZ Trenton
New Jersey. a copy OF said decree may bs
seen upon duo application at the office Of
either the Special Master or the solicitors
for the sbovc-namcd complainant
T.. EDWARD HERMANN
Special Master III Chancery
~ Exchange Place,
Jersey City, ~. ~
KATE y. GOODRICH
THE FARMERS LOAN
TRUST COMPANY.
By w. B. CARDcZo.
Vice President
[Seai1 Executors Of and Trustees
Attest under tho Last Will and
A. ". HEELY. Testament Of Thomas a.
Secretary. sperry, deceased, Com
LINDABuRY, pEPuD q
FAULKs,
Collectors for Con1pisinants,
7ss Broad Street,
Nswsv~ ". =.
dated March fftr. fann.