Norwich bulletin., 1919-04-14
CHARGES EXTRAvAGANCE IN
 GROTON IRON WORKS

, ing large number of unsecured cred itorS of the Groton Iron Works which recently went into the hands of re- ceiverS. gave a bitter denunciation of the management of the plant in the past in the superior court in New Lon
 don Saturday afternoon. The denun- citation came in connection with
 hearing before Judge Joel H. Reed on several motions in the case of the United States Steamship Co. against the Groton Iron Works
 It was while Frederick Conlin, one ! Of the receivers, was on the stand that Attorney Gcary expressed himself. Mir. Conlin was giving testimony regarding future policy of the receivers and At l torney Geary inquired what capacity 1 E. o. Cutler, who was busted as tem- ! porary receiver recently. had served
 in the company. General manager, ; i was the reply.
 1 "Is he. to be retained in that ca i ceiver Conlin replied that he would 1 like to have a little more time in which 1 to answer that question
 i Beyond this afternoon?" asked At | torney Geary.
 Yes" was the reply, and MT Geary consented
 Then followed a brief conference
 between Attorneys H. A. Hull, Frank
 L. Mcclure, Arthur T. Keefe and Mir Geary after which MT. Geary ad-
 dressed the court
 l people, said Attorney Geary, thai the conduct of the Groton Iron Works, from the beginning has beer
 nothing short of scandaleus. The management of the yard has beer inefficient; there has been no regard for business principles. The company has engaged incompetent men, me1 Of inexperience who have received enormous salaries with no return tt
 the company.
 It is the belief that if these men
 the men who have been responsibl, !, for the present conditions at tn !, plant, are continued there will be nt
 good come to Israel. In all depart mentS, it is common talk the way th' business of the yard has been con | ducted.
 l Tn MT. Conlin we have a com 5 petent receiver in whom the peopl of New London have confidence, bu it is fitting that these matters am : conditions should be called to thej l alter tion.
 2 The unsecured creditors of tn = company, at least the ones 1 repre- 3 sent, will not sit quietly by, if the re . ceivers permit the same fellows, wit 9 high positions and high salaries, Wh I do nothing. to remain.
 l It is the wonder of everybody, hov 5 men in their positions, who have an = prceurse to sanity, could conduct th
 iyard in the manner they q ]. IL wa
 not misfortune, but incomr etcnt.e an
 ever pfa't.caI dishonesty tla- fld 5 caused present conditions at tE
 yard.
 z The motions which came before tf court were made by Waller, Avery an
 Gallup. representing the receivers. TT : | first was an order authorizing the pay y ment of sheriffs' fees for keepers
 connection with several attachment , on pei sonal property at the plant an 7 the order was passed without oppos lion.
 : Then came 8 motion for an ordt . 1 authorizing the receivers to adopt ar : affirm two contracts between the Gro
 ton Iron Works and the United Stat'
 Emergency Fleet Corp, each for u ', construction of six steel ships, or n contract made in April, 1917, and u S200,0O0 at other in August, 1918. AT
 3 second order authorizing the T. T ceivers to borrow sums of money III f exceeding S200, at any one time.
 Receiver Con1in was called to u < stand and testified that the first cof tract was about 65 per cent fnisht m and that the work on the second w. Q barely commenced. The receive q wanted to borrow money for the pui :, pose of purchasing small equipmel l, and tools which had been allowed Il become. depleted and which neede
 repienishing; to meet sight drafts (
 other demands which would be mao . on ther. He had the assurance o the Emergency Fleet corporation tn: If it would lend the money which. b' r cause Of the financial straits of u = company could not be secured fro e banks.
 = MT. ConIin said ne believed that = reasonable amount could be real;z, = as profit from the first contract ar 7. that a profitable amount would be 8 T cured from the second He was suti = fled that the only way creditors $. hope to realize anything would be | continue the contracts.
 e If this were not done, the rest . would be ruinous, as q half built sh a is no better than none. The plant. Il T receivers found. was suffering from e excessive overhead. which he was Sd l. isfed could he cut in two. xla,