New-York tribune., 1922-03-13

or Securities Pledged under Collateral
Trust Agreement OF The Memphis street
Railway Company, dated November 1,
1911. securing Tw0-Near SIX Fer Cent
toliatcrni Gold Notes.
Default having been made in the payment
of the principal of the Two-Year Six Per
Cent Collateral Gold Notes of the Memphis
Street Railway Company which originally
became due and payable on the first day OF
November. 1919, but extended by
extension agreement bearing date November
l. 1919, until the first day Of November. 1920.
Two Year Six Per Cent Collateral Gold Notes
became due and payable, and since sal i'd date
part OF the principal of any of the said
NOTICE is HEREBy GIVEN that The
New York Trust Company, as Trustee under
b hg gs a Il tod 'e Noye
Ssr 12l ssfuFTs ns ssid %ds Two Year Six . per
rights and powers such Trustee and by
virtue of lien held by it such Trustee,
| Exchange Sales Rooms, Nos u and ls Vesey
street In the Borough of Manhattan. and
City Of New York (Which is the city where
such lien was acQuired). at 1890 O'Clock P:
N. the 18th day of March. 1922, all and
sii,Eaar I,j.l the securities pledged under said
particularly described as follows:
ds ed Mortgage tFivs t Per Cent Colo BOND, Of
The Memphis Street Hallway Company, is
sued under and secured by Mortgage of said
/ Railway Company to the Central Trust Com
lad55. VI Ne" u H. ''S uS'sS' 'A'eu '''' l.
.. s512 600 principal amount of General
Mortgage Bonds of The Memphis Street Rail
General Mortgage of said Railway Company
90 the Guaranty Trust Company Of New York,
as Trustee. dated November I. 1915.
The said securities will be offered for sale
In one lot and entirety. and will be
sold to the highest and best bidder. subject.
however. to the conditions herein stated.
No bid will be received unless the bidder
shall have first deposited with the Trustee or
that amount drawn upon a bank in the City
Trustee as security for the completion Of the
purchase of said securities in accordance
With his bid and these terms Of sale.
The Trustee will give appropriate receipts
/. ior all deposits so made and will Immediately
sfier the sale return to the unsuccessful
The successful bidder will be required 10
sisn nemorandum of his purchase at the
Se s q @ place be of the whn ts Th gdss
al the ONCE Of the Trustee, No. 100 Broad
way, Ne" York. within seven days after the
The securities will be delivered upon pay
If the successful bidder shall fail to COM
plete the purchase of said securities in accord
ance with his bid and these terms of sale
such bidder shall be liable to the Trustee
for any loss or damage resulting from his
failure TO so complete said purchase, includ
securities, and the Trustees may hold the
deposit of such bidder and apply the same to
the payment of any such loss damage
The successful bidder, for the purpose OF
making settlement or payment for the securi
ties, viii be entitled to turn in TwoYear Six
Per Cent Collater Gold Notes of The Mem
phis Street Railway Company and any
stured and unpaid coupons thereof or in
terest claims thereon. in order that there
may he credited as paid thereon the sums
payable out of the net proceeds OF such sale
TO the holder of such notes coupons or
interest claims. as his ratable share OF such
net proceeds, after allowing for the proper
tion of the total purchase price required to
be paid In cash to pay the costs and ex-
penses of the sale, otherwise: and the
successful bidder Will be credited on account
Of the purchase price of the securities with
the sums payable out of such net proceeds on
such notes and coupons and interest claims
SO turned in.
The Trustee or any holder or holders Of
said Two-Year Six Per Cent Collateral Gold
pany, in person or by attorney or agents,
may hid for and purchase said securities.
Tho Trustee may from time to time ad-
iourn the sale by announcement a the time
and place fixed for the sale or for such
adjourned sale, and may hold such sale IS
so adjourned without further notice.
Dated New York. February g. 1929
THE NEW YORK TRUST COMPANY.
AS Trustee under the Collateral Trust
Agreement of the Memphis Street Rail
way Company. dated November !. 1917.
and Extension Agreement dated No
Vcnber l. 1910.
BY +. J. HORNE.
Vice President