The New York herald., 1922-09-21
LEGAL NOTICE.
Notice Of Sale
Interbcroygh RAPID Transit Company
STOCK

NOTICE Is HEREBY GIVEN that.
pursuant to the terms provisions and power.
contained in a certain Trust Agreement dated
the fifth day Of March, 1906. made ~
lnierborough Metropolitan Company 70 Wtnd.
sor Trust Company 70 secure an issue o.
the Collateral Trust -Four and A Half Per
Cent Gold Bonds of said lnterbofough- Metro
politau Company for a principal amount not
10 exceed the sum OF seventy million dollars
fNO,000 00Ul and pursuant also 70 decree
ot the United States District Court Tor the
Southern District Of New York dated tho
third day Of July. 1922. and duly entered IN
fifth day Of July, 1922. IN the Matter Of
Interborough Consolidated Corporation. Bank
rupt. successor 10 said lnterbofoagh- Metro
poliian Company. In bankruptcy No 26o9o:
and the order amendatory thereof dated and
undersigned EXPIRE TRUST COMPANY.
-msnt dated the ffth day OF March: 1906.
wiTl,~~SllTough aTnes r. Sheffield, Trustee
in BanSWptcy of Interborouah Consolidated
Corporation, appointed Special Master Tor
thereunto authorized by said Empire Trust
Company. dfer for sale at public auction
on the ninSh day Of October 1922. a.
eleven o'cloch in the forenoon at Room 40l
County, al the intersection OF broadway and
Barclay Street. New York, in the Borough
o Manhattan. City OF New York, all and
singular the collateral pledged and deposited
under said Trust Agreement. TO wit, three
hundred and thirty nine thousand, ono hun
dred and twenty eight 1891 shares OF
The per value Of one hundred dollar, (slool
per share, of the capital stock of Inter-
borough Rapid Transit Company. a corpora
tion organized and existing under and by
virtue Of the laws Of the State Of New York.
Pursuant 70 said decree Of July ;. 1922,
James K. Sheffield, Trustee in Bankruptcy
Of said lntcrborough Consolidated Corpora
tion, will Join IN said sale and in any and all
appropriate transfers conveyances or assign
az :.
sale. Said sale will be subject to the approval
Of the United States District Court for tho
Southern District Of New York. and viii be
subject 70 all the other terms and conditions
contained in the decree Of said court dated
the third day 81 July, 1929. above referred
70. and on file in the office oi the Clerk Of
said court and 70 the terms and conditions
ot said Trust Agreement dated the fifth day
q March, 1905, a copy 81 which has, for
the information Of intending purchasers, been
deposited with the clerk 81 said court.
SAID shares of stock will be sold as an
entirety and in one block or parcel, free
and clear Of all liens, equities and encum-
brances OF or in favor Of Windsor Trust
Company as Trustee Empire Trust Com
Agreement dated March s, 1906 and all other
liens or encumbrances 81 whatsoever nature,
ot all rights and equities 81 the Bankruptcy
Trustee. Interborouqh Consolidated Corpora.
tion. Bankrupt, and creditors aud stockhold-
ers of the bankrupt and other persons claiming
BY; through or under the bankrupt
Said shares OF stock are 70 be sold to
satisfy lien for principal and interest
amounting 10 seventy FIVE million. one hum
dred and seventy thousand, seven hundred
and fifty seven dollars and eighty two cents
t@5i7O.7s7.S2) with interest thereon at tho
rate 81 four and half $50 per cent from
the third day Of July. 1922. together with
the costs and expenses Of the sale and the
advances. ices, charges, expenses and counsel
tees q the Trustee under said Trust Agree.
ment as the same may be determined fixed
and allowed BY the court.
No bid for said stock viii be considered
unless i be accompanied by 4 certified check
for iifty thousand dollars Cs50 000) PAYABLE
70 the order OF Empire Irust Company issued
On a bank or trust company located in tho
City ot New York having capital. surplus
and undivided profits ~ at least five hundred
thousand dollars $500 OO0)
The purchaser At the sale will be required
70 ray or 70 undertake 70 pay in cash such
sums as may be fixed hy the court as che
expenses of the sale and the costs charges.
advances. expenditures, compensation and
counsel ices of Empire Trust Company as
Trustee and such other charges AGAINST tho
proceeds oi sale may hereafter be ordered
and directed by the court and the purchaser
may turn IN and apply towards the payment
of 81 much oi the purchase price as may not
he as above or by order 81 the court here :
after made required to lie paid in cash any
bonds issued and outstanding under said
trust Agreement and any maturcd and uu-
pad interest coupons 70 the amount that
such bonds or coupons respectively or claims
Tor principal or interest would he entitled to
receive ~ collect upon a ratable distribution
among the holders thereof az the net pro-
eeeds Of sale but such bonds, coupons and
interest claims applied shall lie deemed 4,
be paid only 70 The extent 50 applied all a.
more particularly provided III said Trust
Agreement and said decree
At the conclusion ~ the bidding AZ said
sale. the successful bidder viii he REQUIRED 10
sign a memorandum of the terms OF sale
Two days after the conclusion of the bid
ding AZ two o'clock III the afternoon, tho
trustee N Bankruptcy and the Empire Trust
company will report the result az said sale to
the court az said Court Room 4OI. Post Office
BuHding. Borough of Manhattan CITY of
Nrw York, Tor such orders judgments or
dccfees As may By the court be deemed proper
or advisable. No further notice 81 such report
or q the hearing thereon VIII bc givea to
anv marty
The sale may from time 70 time. hy an
nouncement at the time and place fixed there
tof, he adjourned, As provided ia said decree
ci any adjournment need be given ana with
out any further notice said sale NAV be made
~ INC time 4 which the same shall Sc so
adjourned
Dated. New York. September H. to27.
EMPIRE TRUST COMPANY
q successor Trustee under said
Trust Agreement dated March S,
1906
Approved:
JAMES r. SHEFFIELD.
trustee in Bankruptcy of Inter-
borough Consolidated Corporation.
James X Sheffield as Trustee IN Bankrup.ev
o. lntcrborough Consolidated Corporatio,