New-York tribune., 1922-11-08
I. me speciai Masssr NAV .s,e,r,,

y
with the sale On any day TO which the
same may hayo been 80 adjourned,
AI, The Purchaser OF the respective
parcels or OF the property as an entirety
snall, as part OF the consideration of the
property purchased, and In aaAIt,an ~
the sums bid BY such purchassy' taks
such property and receive the deeds or
other instruments OF conveyance ard
transfer thereof subject TO any and all
taxes and assessments and contractors
ana mechanics liens and purchase money
contracts and vendors liens, which shall
be q lien upon any OF said property pur-
chased at said sale;
Provided, however. that tie proceeds
Of sale OF said Parcel 3 or the portion
OF the proceeds of saie of said Parcels
A. B and G, IL sold together and as an
entirety, deemed 60 be The proceeds OF
sale OF said Parcel b as In the Final De
creo provided. will stand In iieu of and
represent said PARCEL h and will bo sub
3ect to the liens. II any. heretofore or
hereafter determined to have existed on
said Parcel 3 at the date of the Final
and clear OF such liens, IL any.
~. Said sale will bs made in the fol-
lowing manner:
fa) The Special Master will drst offer
Tor sale separately and as an entirety
as Parcel A all OF the property covered
Sy the Hen Of the First Mortgage. dated
September !, 1917, made by Chalmers
Motor Company 70 Metropolitan Trust
Company OF tho City of New York. as
trustee. whether or not hsreinabove spe-
eihcaliy described. and will note the
highest bid tharefor.
sb) The Special Master will next offer
for sale separately and as an entirety as
Paresl ali inventory on hand OF the
VIII note the highest bid therefor.
(c) The Special Master will next Of
FER FOR sale separately and as an entirety
az f&rcel all other property and in
terests IN property of every kind, char
acter and description of tho Chalmers
Company or the Receiver. not covered by
the lien of said First Mortgage, whether
or not hereinabove specifically described,
and will note the highest bid therefor.
tdl The Special Master will next offer
for sale as an entirety Parcels A. B and
c together ana will note the highest bid
therefor.
If the highest bid received for Par
cells A, B and G, when offered for sale
the aggregate Of the several highest bids
previously noted. as hereInabove pro-
vided. for said Parcels a, 3 and C when
offered separately. then said highest bid
fered together and as an entirety viii
be accepted and ali the property COM
prised in said Parcels A.. 3 and will
be stricken off and sold as an entirety TO
the highest bidder therefor, and the
highest bids noted. as aforesaid, for said
several parcels when offered separately
will be cancelled. II. however, the high
est bid received for said Parcels A, B
and when offered for sale together and
as an entirety shall not exceed the ag~
gregate OF the several highest bids
previously noted for said Parcels A, B
and c when said parcels were offered
separately, then said several highest bids
previously noted for said respective Par
cells "A. B and when offered separately
VIII be accepted and said several parcels
Will be stricken off and sold to the per-
q ba VI irnr do ha III iph
bids therefor. respectively, and the high
est bid for said Parcels A, B and c.
when offered together and as an entirety
noted as aforesaid will be cancelled.
". 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-
post with the Special Master and deliver
to him as a 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 S135,000.00 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
ter and made or endorsed payable to his
order, or S406,000.00 principal amount
OF First Mortgage Six Per Cent Five
as Mortgage Notes, of Chalmers Motor
Company, secured by said First Mort
gage, accompanied by the coupons of
April 1. 1922, and October l, 1921 Such
deposit may be made partly in cash or
certified check. and partly in Mortgage
Notes with coupons but in the same reIa-
tive proportions.
(2) In case of Parcel B, when offered
separately. as,n us the sum sum Of s22,5oo.oo in
bank or trust company in one OF the
cities above mentioned. acceptable to the
Special Master. and made or endorsed
PAYABLE to his order, or ss7.5oo.oo
principal amount in obligations of or
claims against the Chalmers Company
fled In said consolidated cause within
the period limited by the order of said
Court. and adjudicated in said CONSOLE
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
Special Master of a partial interest to
the extent OF said amount IN such an
obligation or claim. Such deposit may
be partly in cash or certified check and
partly in such obligations of or claims
against the Chalmers Company but In
the same relative proportions
(9) In case Of Parcel C, when offered
separately, the sum of s41.25o.00 in
cash or certified check on some national
bank or trust company In one of the
cities above mentioned, acceptable to the
Special Master and made or endorsed
payable to his order or s123,75o.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
panied by appropriate transfers thereof
to the Special Master or an appropriate
assignment to the Special Master OF a
partial interest to the extent of said
or s12s,75o.00 principal amount OF
Mortgage Notes, accompanied by the
coupons OF April 1. 1922, and October /,
1922. Such deposit may be made partly
In cash or certified check and partly in
obligations of or claims against the
Chalmers Company and partly IN Mort
gage Notes with coupons but in the same
relative proportions.
(4) In case Of Parcels A. 3 and C..
when offered together and as en- entirety.
the aggregate of such sums In cash or such
certified checks or Mortgage Notes and
coupons or obligations Of or claims
against the Chalmers Company of such
character ana to such amounts and ac-
companied by such transfers as would
be required under the foregoing clauses
t11, (2l and (s) TO qualify such person
TO bid for each and every of said parcels
when offered separately.
In lieu OF the deposit of Mortgage
Notes and coupons or OF obligations or
claims with transfers thereof in accord
ance with the requirements of the fore
going clauses or any of them. the Special
Master will accept the certificate of any
national bank or trust company In the
City of New York or Ia the City of De-
troit, Michigan, acceptable to the Special
Master. tfiat it holds, subject to the or
der of the Special Master or subject to
the order of the person therein named
and by him transferred to the order of
the Special Master. Mortgage Notes ac-
companied by the specified coupons OF
obligations or claims of the required
character with proper transfers thereof
A deposit made to quality any one to
as applicable, be regarded as a deposit
ON account OF the deposit required TO
be made in order to qualify him to bid
for all OF the parcels when offered for