Auction Follows Action in Supreme Court One of the biggest iand deals carried out in Shanghai (or a considerable period took place on August 27, when' the properties: known 'a8. Bi Lots Numbers 829, 18543 and 13544, put up for auction pursuant order issued by HM, Supreme: Court, were sold for the sum of $1,181,000, or $1,000 above. the reserved bidding' of $1,150,000, to the Burkill Trusts Ltd, "mortgages of the property, represented by Mr. W._T. Mellor.
The auction of the property, which situated at 149 Szechuen Road, follows an action in HM. Supreme Court, brought by the Burkill Trusts, Lid, against the West End Estates, Ltd, and was carried out by Messrs. Nazer and Martin, at their emees ai 31 Peking Road, this being the firm appointed for the purpose' by Judge P. Grant Jones. Messrs, Bills and Hays are the legal practitioners for the mortgagee.
The three properties have a total area of 4301" mow. The conditions of sale included provisions. thst no. person was to advance less. than $1,000" at each" bidding, and each arty bidding was to deposit the sum of $3,000. 'The Registrar of 1134. Supreme Court will certify the result at a future date, and a day Will be appointed by the Registrar at which the purchaser may, If he thinks fit, attend by his legal' praeti-Hioner at the Reelstry "of HM. Supreme Court to settle the certifi cate of sale, Within seven days of the Registrar's certification of the result of the sale, the purchaser will deliver a statement in writing of any objections (if any), (othe "Title Deeds, and upon the expiration of! this period, the fille is to be considered as approved of and accepted by the purchaser.
'The purchaser, under a direction signed by the Registrar, is to pay into court 10 per cent. of the purchase money, after deducting' the amount pald as deposit, and on delivery' of the title deeds Is to pay into court the balance due as" pur chase money. On payment of the purchase money, the purchaser is to be entitled to possession, or to the rents and prods, from ihe dure of payment. All outgoings are to be ald by the vendor up to this time.
'The final condition of sale specifies that if the purchaser shall not pay his purchas money at the time Specified, and carry out the other conditions named, his deposit, money shall be forfeited' to the vendor, and fan order may be made by the Judge upon appileation at Chambers for the resale of the property, Another Sale on Sept. 2
'Another large Jand deal is due to take place on September 2 at the: offices' of Messrs, Nezer and Martin, when B.C, Lots Numbers 12511, with fan area of 340218 mow, 12026, with fan area of 18214 mow, and '19270, with an area of 1.8111 mow, will offered for sale, The property is at west End Gardens. "The reserved price on the auctioning of this property. is. $500,000, and $1,000. 1s the minimum advance on each bid. Pro spective bidders are requires to! deposit. with the auctioneer the sum of $3,000, 'The conditions of sale are otherwise similar to those governing] the sale of the property at 149 North Szechuen Road." The auction of this properly also' follows the action. Drought by the Burkill Trusts, Lil, ayainst the West End Estates, Lid,
Text read from the printed page and cleaned; old type leaves the occasional error.