The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1898-08-04
TAKEN POSSESSION.
MORGAN 8WRlGHT ARE IN CHARGE
AT THE WINDSOR FACTORY
A RECEIVER IS APPOINTED.
And TWO Great Companies are struggling
to Obtain Control of the Property and
Real Estate-May Starr UP Under
New Management.

E5 ------ e
The clouds which have been threat
ening the business interests of the
Charles ii. Sieg manufacturing COM
pany for the past two months have
burst, and after a heroic struggle
against the inevitable Mr.. Sieg has
been forced to give up the hopeless
fight, and the works are now in charge
of Attorney Cavanagh, representing
the Morgan & Wright Tire company,
with a dozen greedy lawyers from Chi
cago, struggling to gain a finger in the
division of the spoils, which they hope
to pe able to force to be divided in the
near future, The trouble which caused
the action taken by the company in
turning their plant over to Morgan &
| Wright, was mortgage given some
few months ago to this company cover
ing the entire plant, and on last We'd
nesday Attorney Cavanagh formally
took possession of the plant to hold
and operate it until the Indebtedness
could be paid off. In the meantime
representative business men have made
every effort to suggest a plan which
might secure the works on perma-
nent footing. But ugly stories got
started and reached the ears of the
smaller creditors, and they at once
began to clamor on account Of the
Morgan & Wright people being the
preferred creditor. 4,
The. matter reached a climax in
Chicago Thursday, when a number of
these small firms sent their represen-
tatiges before Judge Gibbons and
asked that q receiver be appointed.
The judge allowed the request, and
named the Security, Title & Trust
Company to act in that capacity. No
notice had been served upon Mr.. Sieg
or any member of the company that
such an action had been contemplated,
and none of them were present when
the receiver was appointed. Notwith-
standing this fact, the representatives
of all the smaller creditors at once
started for Kenosha, presumably for
the purpose of selling all the
goods and chattels of the COM
pany. The representatives of the
Security Title and Trust company came
with them and. went at once to the
factory and tackled up a card on the
door proclaiming that the works had
been taken in charge by that company.
However attorney Cavanagh had been
too quick for them and had posted the
notice Of the passing of the plant into
the hands of Morgan & Wright on the
door of the inner office, and what was
more to the point he had men on hand
to keep all lntruders fromT entering the
factory. All night the two representa-
tives wrangled, the Chicago men urg-
| ing the point that they had been APP
pointed as receivers and were ready to
| take charge of the works. However
the factory employees came to the aid of
Mr.. Cavanagh, and the men represent
! ing the smaller creditors were not
allowed to cross the threshold.
This morning a visit to the works
found Walter Cavanagh in charge and
! all quiet. The attorneys representing
the other firms are still il, the city, but
they seemed to have taken no further
steps to secure control of the plant,
either legally or by force.
AS to the future of the company it is
very hard to say. A talk with one of
the men this morning revealed little
more than has been given before. They
say that the plant is now in the hands
of Morgan & Wright, and they have
no fear but that all their interests will
be properly cared for. Furthermore
they have nothing to say, except that
the works will probably be in operation
in the near future. From their state
ments we CLEAN that the plant is
abundantly solvent, as the men claim
that the assets will amount to nearly
$4,000 above their liabilities. ia-'
There seems to be a strong prob
ability that the works will be operated
by the Morgan & Wright people, in
stead of the former management. q 81