Pusey & Jones Corporation

The Pusey and Jones Corporation a Wilmington, Del., manufacturer of iron steamships, papermaking machinery and other specialty products, filed for Chapter 11 reorganization on November 7, 1959, after 111 years in business. President Joseph B. Ulicny and John B. Jessup were appointed receivers. Attempts to reorganize the company failed, it was judged bankrupt on January 27, 1960, and Jessup was appointed liquidating trustee. The firm's designs, drawings and work on hand were sold to the John Inglis Company, Ltd., on February 26, 1960. The Wilmington Trust Company assumed the physical plant as mortgagee on March 15, 1960, and resold it to Philip L. Moskowitz & Associates, Cincinnati scrap dealers. All remaining claims were settled and the liquidation completed early in 1962.