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NSF
Posted: Wed Dec 28, 2011 1:35 am
by 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
Re: NSF
Posted: Wed Dec 28, 2011 2:31 am
by 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.
Re: NSF
Posted: Wed Dec 28, 2011 5:17 am
by Veenture
Very interesting. Thanks for sharing this!
Re: NSF
Posted: Wed Dec 28, 2011 10:39 pm
by 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.
Re: NSF
Posted: Thu Dec 29, 2011 1:59 am
by oipunkguy
didnt mosrite go bankrupt in 74? right before the "new" mosrites began showing up?
Re: NSF
Posted: Thu Dec 29, 2011 6:26 am
by 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.
Re: NSF
Posted: Sat Dec 31, 2011 1:41 am
by oipunkguy
Sarah, you are so hopeful to the forum with your legal background

Re: NSF
Posted: Sun Jan 01, 2012 9:05 am
by Haole Jim
Amazing, how "deep" the legend of Mosrite is and continues to evolve. Thank you.
Re: NSF
Posted: Tue Jan 03, 2012 4:45 pm
by 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!