The Bridgeport times and evening farmer., 1922-06-07
Morris Metal Co.
Declared Bankrupt

The Morris Metal Products COM
pany of this city was yesterday ad-
judged bankrupt by Judge Edwin S.
Thomas in the United States District
Court in Hartford. Attorney Samuel
Reich represented the creditors who
caused the involuntary bankrupt
proceedings and Attorney w. Parker
who obtained iudment prior to the
opening Of the bankrupt proceedings.
It was Attorney Reich's contention.
that since he represented creditors
of the company whose claims ranged
from $4,000 to $1,000, and since
there were about forty cases pending
against the company, since the com
pany mad not paid taxes to the city
amounting to 100000 there should
be no priority of claims.
He said that the four creditors
who were Seeleys constituents sought
bargains This statement was refuted
by Attorney Seeley. Judge Thomas de-
cidod to send the case to Bridgeport
where john J. Keogh referee in bank
ruptcy will appoint a trustee.
The plant recently valued for $780,
attorney, of the petitioning reditors,
viii assure all instead of but a few
receiving claims, in the event of the
sale of the factory.
Made German Shells.
The original name of the Morris
Metal Products Company of this city
was the Bridgeport Projectile Com
pany. a certain amount of odium
was dCLaCnod the company SINCE
they were making shells for the Ger
man government before this country
went into the war. The name of the
company was changed to the Liberty
Ordnance Company during the war.
The United States government had
the building and machinery appraised
by experts and the valuation was
placed at about $1,5o0,000. Percen-
tage was paid to the company for the
Use of the factory and for deprecia-
went back to the original owners K.
w. Mcneil and George w. HoadIey,
who together with the Morris broth
ers of Springfield, Mass, formed the
name was later changed to the
Bridgeport company, assuming the
liabilities of the Morris Metal Prod
ucts company.
Foreclosures Made
While the plant was operating I'M
der the name of the Morris Metal
Products company business was done
with certain firms and individuals and
evidently some of the bills were IN
paid Foreclosures were made the
first of which will be due in July.
The priority foreclosure was made
by William Seeley for $1,000 on a
receiver Of the company cannot OBJ
tain $1,000 to pay this lein the entire
plant will revert to wilIiarn Seeley.
About 100000. allowing deprecia-
t1On OF Sl.OUU,UUUs TOT a S1-zU0 clalIn-
The second foreclosure will be cue in
September. This for $45,000 in taxes
due the city. In the event that the
first lien is lifted, failure to meet the
s45, 900 due the city will give the fac
tory to the city in payment of the sec
ond priority foreclosure The follow
ing day another foreclosure days law
will have been terminated for the
amount of $1,400 payable. to Daniel
T. Mahaney. this on a mechanics lien
Robert H. Newman formeT mana
ger of the company. also a creditor
has been appointed by the United
States Court, receiver for the COM
panv and Attorney Samuel Reich as
attorney for the receiver. Reich re-
presents about fourty creditors also
who in the event that the money TO
be paid those who have foreclosed is
not forthcoming. will be unable to
obtain any recompense.
Steps for the prevention OF such a
procedure were started yesterday In
the session of the United Statees court
in Hartford before Judge Edwin s
Thomas. who after hearing the evil
dence presented by attorney Reich
Attorney W. Parker Seeley represent
ing the four creditors who have
priority claim. who is member OF
the firm Of. Pullman and Comlsy
of this CITY, referred the matter to
Referee in Bankruptcy in this city,