T.F. Hart's Auto Plant in Receivership,

Receiver for T. F. Hart's Auto Plant.

Upon petition of its president, Thomas F, Hart, the Inter-State Automobile Co., of Muncie, Ind., was thrown into the hands of a receiver and Michael Broderick, a Muncie manufacturer, was named as receiver to take charge of the plant and continue it in operation. Broderick filed bond in the sum of $300,000 with Thomas F. Hart and Ralph Hemingray as sureties.

Hart's application for a receiver has a total indebtedness of more than $500,000 and that disagreement among the stockholders as to the control and management of the concern has prevented the company from raising funds to pay off its indebtedness.

Hart as president of the concern says that the company is indebted to him for salary in the sum of $1,735.23 and further that the defendant company is indebted to him in the sum of $83,689.41 on promissory notes.

No definite statement of the assets of the company is contained in the petition. The company, it is set out, owns real estate, factory buildings, a large number of completed automobiles, and a large amount of raw material. It is further set out that the company has the sum of $43,638.34 in accounts that are due and unpaid and these accounts constitute part of the assets. Mr. Hart is well known throughout the confines of the American glass industry. He was formerly general manager of the American Window Glass Co.