The Bridgeport times and evening farmer., 1921-06-14

The Liberty Manufacturing Com pany, according to the complaint, was incorporated under the laws of Connecticut. December IS, 1919. Bus mess was started with an authorized capital stock of $5O,000, comprised Of 1000 shares of. common stock, par value of $50 per share.
 On February 26. 1920, capitaIza- ton was increased to s250.00o. and Joseph S. Lash, president of the con- cern is said to have received 51 per cent of the capital stock increase, in payment for a license to manufacture the Cameron motor. a product of the Cameron Motor Company, of New York.
 Another increase in stock brought the capitalization up to $3,000,00O on February 25. 1921, and Lash. in the complaint, is said to have also Secur- ed 51 per cent of this increase, an amount which he still holds, accord iS to the plaintiffs.
 It is further alleged in the com plaint, that the defendant employed agents to sell stock in the company said agents telling prospective buy CTS that the business was prospering and that no one person should hold more than nine per cent. of the stock
 The 314 stockholders who are now bringing action against the manufac- turing company, claim that they pur- chased $55,000 worth of stock, and on February IS, 1921, learned that the statements of the selling agents were untrue Lash's alleged holdings of 51 per cent are cited as a specific instance.
 Since February IS, the defendants, according to the complaint, have been endeaVOrInS to surrender their stock in return for money invested, but so far have been unuccessfuL Numerous conferences are said to have been held but none resulted satisfactorily for the stockholders.
 The manufacturing license alleged to have been held by Lash, and ex- changed by him for 51 per cent. of the stock, is characterized by the plaintiffs only of nominal value.
 It is understood that the companys port, disposed of a large amount to residents of Polish descent, most of whom made $50 and S10O purchases It is also reported that the company actually manufactured but six mo- tors, these being used by salesnen for selling demonstrations.
 Thirteen claims are set forth in the complaint, and the attachment of the compaINs property and cash was completed yesterday. Papers have been filed in the Stratford Town Clerks office.
 Joseph S. Lash, who is named in the writ as president of the concern, is said to have been removed from the presidency at the last meeting of the Board of Directors. A local man who was formerly an important off, ficer in the company, said today that to the best of hi belief, Felix Kur- pieWski is now president and Zig mund Dulko, treasurer of the firm.
 Since trouble with the stockholders first developed, directors meetings are said to have been held very fre- quently. Officers have been removed and new ones elected with much rapidity, but the demands of the in vestors were evidently too strenuous for the officers to handle.
 In addition to the stockholders who have started legal action to recover their cash, several thousand Polish- Americans of Bridgeport are greatly interested in the final outcome of the litigation.
 That the Liberty Manufacturing company has been in financial diff culties for some time was learned to- day, when it was reported that a big Bridgeport manufacturing concern refused long ago as last fall, to carry out an order received from the Liberty company, because of the fact that no money was advanced in pay ment-