NSF

[dorkrockrecords]

We've all heard tales of Mosrite's financial woes: bankruptcy, fire, even pawning instruments fresh off the assembly line to make payroll or keep the lights on. Unfortunately for one Andy Smith, Uncle Semie failed to make payroll at least once, and here's the proof.


above: bounced check in the sum of $91.74, signed by Semie Moseley and John Rutledge

[jfine]

Wow! What a shame--that's not a good way to keep a happy and productive bunch of employees. April '73--that was about a year before i bought my Mosrite 350.

[Veenture]

Very interesting. Thanks for sharing this!

[dubtrub]

I see the second signer on the check is John Rutledge. Artie said he stopped by Front Porch Music a few months back although his health is failing badly.

[oipunkguy]

didnt mosrite go bankrupt in 74? right before the "new" mosrites began showing up?

[Sarah93003]

I think I recall that Mosrite filed for bankruptcy in February, 1969. Thereafter was the periord when the assets were auctioned off and Semie and Andy were able to get some of the things as well as friends and family.

A look at the Federal Bankruptcy records shows another bankruptcy of Mosrite on 6/1/1994 filed in Fort Smith, Arkansas which was terminated 3/8/2002 although the proceedings had pretty much ended by November 1994. The "party" was Unified Sound Association, Inc. There was a motion to extend the automatic stay to include Loretta Moseley and the Estate of Semie Moseley and that motion was denied.

[oipunkguy]

Sarah, you are so hopeful to the forum with your legal background

[Haole Jim]

Amazing, how "deep" the legend of Mosrite is and continues to evolve. Thank you.

[MOSDAN]

Wow- this is a great piece of Mosrite history. Sarah-your legal additions are masterful and very informative and you are a fabulous asset to this forum. Thank you so much for your input, Sarah!