IN BANKRUPTCY.

Auckland Star, Volume XXIII, Issue 101, 29 April 1892, Page 4

IN BANKRUPTCY.

DEBTOPv'S STATEMENT.

The following sworn statement by Andrew Otto, junr., who yesterday filed a petition to bo adjudged a bankrupt, was made beforo the Oflicial Assignee iv Bankruptcy, Mr J. Lawson, this morning : — " Up to bixtoen mouths ago (December, 1S90) I was engaged at casual employment. Not bointr successful, and being about £20 in debt, 1 took a small shop at the corner of Wcllesley and Nelson Streets, and started business as a grocer. A friend lent me £5 and I got £6 or £7 worth of goods on credit. Tho creditors at that timo Knew my position. I kept on fairly well until the middle of 1091. Amongst my customers at that timo was a remittance man who had induced me to give him credits and pay his house rent. The account ran up to between £60 and £70, over a period of nina tnonths—February to November, 1891. All the cash I got from him was about 29s and a p.n. for £100, which he reckoned would clear everything until his money came from England. Tho bill matured last August, tho money came afterwards, but I got> none of it. Tho p.n. was given to Mr Enbrican about six weeks ago on his departure for England, and he has promised to interview the drawor's friends. The man (James Henry Atkin) waa found guilty of larceny in December last, and sentenced to two years' hard labour, and ho is now in gaol. When thi3 happened 1 was advised to tile, but I was sanguine of pulling through by adding another branch ot goods to my shop, and was in a fair way of doing so, but creditors pressed beyond my ability to pay. Ono of them got judgment yesterday and I was forced to file. 1 kept the usual books. My debts are £395 lbs 'Jd and my only assets are £4 worth of stock,and £i worth of book debts. The furniture is worth £6.