Medad Morss files bankruptcy due to failure of Ellenville Glass Works

HEAVY FAILURE IN SULLIVAN CO.

MEDAD T. MORSS GOES INTO VOLUNTARY

BANKRUPTCY.

Medad T. Morss of Woodburne, Sullivan county, had filed a petition in voluntary bankruptcy, placing his liabilities at $120,000. His heavy creditors are said to be New York parties.

The announcement of this failure will no doubt strike the public with surprise, as Mr. Morss was not only the largest but considered to be the shrewdest and most careful business man in that section of country. At the time of his failure he owned upwards of seven thousand acres of land in Sullivan county, and carried on a large mercantile and tanning business in Woodburne, Morsston and Blake Lake. He was also a director in the Home and First National Banks of Ellenville.

We have no information as to the immediate cause of his failure, but presume it is brought about by the failure of Jacob Bermance & Co. and the Ellenville Glass Works, Mr. Morss being an indorser for a large amount on the paper and bonds of both of these concerns. It is estimated that his assets, could their value be realized, would cover his liabilities. - Middletown Argus.