New-York tribune., 1922-11-15

further notice or advertisement. proceed
with the sale ON any day 20 which the
sarne may have been 90 adjourned.
III. The Purchaser OF the respective
| parcels or OF the property rs an entirety
| shall, ms part OF the consideration of tho
property purchased, and I'm addition 20
| tho sums bid by such Purchaser, take
such property and receive the deeds or
other Instruments of conveyance and
| transfer thereof subject TO any and all
| taxes and assessments and contractors
and mechanics liens snd purchase money
contracts and vendors' liens, which shall
| be q lien upon any OF said property pur-
| chased at said sale;
Provided, however, that the proceeds
Of the proceeas of sale Of said Parcels
A, u ana G.. IL sold together and Hs sYa
| entirety. deemed to be the proceeds OF
| sale of said Parcel B an In tho Final De.
represent said Parcel aad will be sub
ject TO the Hens. IL any. heretofore or
hereafter determined "a, have existed on
Decree. Said Parcel d win be sold FREQ
| and clear of eueh LIENS, if any.
Nv. Said sale will be made In the fol-
lowing manner:
ta). The Special Master will Grst offer
for sale separately and as an entirety
by tho Hon Of the First Mortgage. dated
September L. 1917. made by Chalmers
Motor Company to Metropolitan Trust
1 company OF the CITY OF new IDTk, as
trustee. whether or not hsreinabove sps-
cifically described. and will note the
highest bid therefor.
tb) The Special Master will next Offer
for sale separately and So an entirety as
Parcel 81 all inventory on hand of the
Chalmers Company or the Receiver and
will nots the highest bid therefor.
to) The Special Master will next Of
fer for sale separately and as an entirety
as Parcel c all other property and In
terests in property of every kind, char
acter and description OF the Chain ers
Company or the Receiver. not covered by
the lien of said First Mortgage, whether
or not herelnabove specifically described.
and will note the highest bid therefor.
(d) The Special Master will next offer
for sale as an entirety Parcels A, p and
G together and will note the highest bid
therefor.
If the highest bid received for Par
cells A, B and C, when offered for sage
together and as an entirety, shall exceed
tho aggregate of the several highest bids
previously noted, as hereinaboTe pro-
vided, for said Parcels A, 3 and G when
offered separately, then said highest bid
for said Parcels 4. and c, when of
be accepted and all the property corH-
prised in said Parcels A, b and G wtll
be stricken off and sold as an entirety TO
the highest bidder therefor, and the
highest bids noted. as aforesaid. for ssaid
sevsraf parcels when offered separately
Will be cancelled. III. however. the high
est bid received for said Parcels A. 3
and 9 when offered for sale together and
as an entirety shall not exceed the ag-
gregaee Of the several highest bids
previously noted for said Parcels a, B
and G when said parcels were offered
separately. then said several highest bids
previously noted for said respective Par
cells A. b and c when offered separately
viii be accepted and said several parcels
will be stricken Off and sold to the per-
sons 80 noted as having made the highest
bids therefor, respectively, and the high
est bid for said Parcels a, B and G
when offered together and as an entirety
noted as aforesaid will be cancelled.
v. The Special Master will accept no
bid from anyone offering to bid, who
shall not, at least twenty-four hours
prior to any offering by the Special Mas
ter for sale under the Final Decree. de-
posit with the Special Master and deliver
to him as pledge that he Will make
good his bid in case of Its acceptance:
"a In case OF Parcel A. when offered
separately, the sum Of s135, 100000 in
cash or certified check on some national
bank or trust company in the City of
New York or in the City OF Detroit,
Michigan. acceptable TO the Special Mas
order, or s4O5. 10000 principal amount
Of First Mortgage Six Per Cent Five
Year Gold Notes. hereinafter referred to
as Mortgage Notes. of Chalmers Motor
gage. accompanied by. the coupons of
April /. 1922. and October /, 1922. Such
deposit may be made partly in cash or
certified check and partly In Mortgage
tive proportions
(2) In case Of Parcel p, when offered
separately, the sum of s225oo.00 in
cash or certified check on some national
cities above mentioned, acceptable TO the
Special Master and made or endorsed
payable to his order, or ss7.500.o0
principal amount In obligations OF or
IN }r,,a
hied in said consolidated cause within
she period limited by the order OF said
Court. and adjudicated in said consoli-
dated cause as secured by a lien or
charge on the property constituting said
Parcel b, accompanied by appropriate
transfers thereof to the Special Master
or an appropriate assignment to the
the extent of said amount in such an
obligation or claim. Such deposit may
be partly in cash OF certified check and
parity in such obligations OF or claims
against the Chalmers Company but in
the same relative proportions.
{3) In case OF Parcel C, when offered
separately, the sum Of s41,25o.00 in
casn or certified check on some national
bank or trust company in one of the
Special Master and made or endorsed
payable TO his order, or $123,75O.0o
principal amount in obligations of or
claims against the Chalmers COMPANY
filed in said consolidated cause within
the period limited by the order of said
Court and established therein. accom-
panied by appropriate transfers thereof
to the Special Master or an appropriate
assignment to the Special Master of a
partial interest to tine extent of said
amount in such an obligation or claim.
OF Mo-t MSs,7So;oe ss 800 principal amount of
coupons Of April l, 1922, and October 1,
1922 Such deposit may be made partIv
IN cash or certified check and partly in
oe epiigations OF or claims against the
Chalmers Company and partly in Mort
gage Notes with coupons but In the same
relative proportions.
80 In case Of Parcels A. n ana n
when offered together and as an entirety
tine aggregate OF such sums In cash or such
coupons or obligations OF or cIainoa
against the Chalmers Company Of such
character and to such amounts and ac-
sSoNnpanied by such transfers as would
~, ieHuirea ~, ander the foregoing clauses
~ sSe ana (s> to quality such person
70 spio Tor each and every OF said parcels
when offered separately.
IN lieu OF the deposit OF Mortgages
votes and coupons or OF Obligations Or
CLAIMS with transfers thereof in accord
going clauses or any OF them tbe Snsci.,
Maste. VIII accept the certifoate Of snv
natlonal bank or trust company IN "a
G.ey tr.it OF I1,N New York or in the city Of De-
Master, that 1t holds, subject 10 fhe ar.
ger OF the Special Master or s,,hiect =,
the order OF the person fherein na,raS
ths ana s,i ny him transferred to the order of
companied by the specified oomnons ~
ooliaations or claims OF the reo,,,rsa
Sn"facseT with proper transfers thereof
y. deposit made to quality any ona 10
oao Tor separate parcel shall. an ysrI
on ppnSaeie. anpnnat pc regarded as a deposit
q RI