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WILLIAMS' CASE. 211
and further, because the habit of purchasers in said county is con-
sistent with the payment of a third, or a fourth of the amount, and
the extension of the credit for the residue would operate as an
incentive to a more liberal competition among bidders who may be
equal in general ability, but greatly differ in their facilities to com-
mand large sums at pleasure. He therefore submitted, that the
decree should be so modified as to require one-fourth to be paid in
hand, and the balance in five or six annual payments, to bear inte-
rest from the day of sale, and be secured by bond with surety.
7th June, 1828.—BLAND, Chancellor.—This case having been
again presented for further consideration, as to the terms of the
sale, the proceedings were read and considered. The petitioner
avers, that the amount for which the estate would sell, by a judi-
cious investment of it, would yield and secure to the infants an
income nearly three times greater than the net rents of the pro-
perty, exclusive of the outlay for repairs and re-buildings. To
maintain the infants, and to improve their income, by converting
their estate into money, and investing it with as little delay and
hazard as may be, are the chief objects of this proceeding. It is
more necessary, in cases of this kind, where the court is, in effect,
moving ex parte, for the benefit of infants, than in controversies to
which adults are parties, that the estate should be advertised for
sale at auction; and thus completely put into the market to pre-
vent any unfairness, and to insure a sale at its full value, either at
the appointed time of public sale, or at any subsequent period in
another way, if a public sale cannot be made of it.
It is true as suggested by the trustee, that lands sell to greater
advantage on long than on short credit; and it is better, in cases
like this, to sell on an extended credit, with a stipulation, that
interest shall be paid annually, than for cash; because the equita-
ble lien is the best security the infants can have for the payment
of the principal and interest of the purchase money. A sale on
long credit, in cases of this kind, is always regarded by the court
as being, in effect, an investment of the balance of the purchase
money for the benefit of the infants. And, therefore, the purchaser
will not be permitted to pay it before the stipulated day of pay-
ment, without paying the interest thereon, which would have ac-
crued up to that time, so as to prevent any loss by the delay in
making another investment. But on the other hand, if there is
every reason to believe, that a good and safe investment may be
immediately made; or if it appears, that there are any outstanding
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