  We describe a method for associating some non-self-adjoint algebras to
Mauldin-Williams graphs and we study the Morita equivalence and isomorphism of
these algebras.
  We also investigate the relationship between the Morita equivalence and
isomorphism class of the C^{\ast} -correspondences associated with
Mauldin-Williams graphs and the dynamical properties of the Mauldin-Williams
graphs.
