JAMES McGREGOR'S BANKRUPTCY.

Auckland Star, Volume XXIV, Issue 174, 25 July 1893, Page 5

JAMES McGREGOR'S BANKRUPTCY.

•(To-day Jas. McGregor, senior, a debtor, made a sworn statement before the Official Assignee. He stated that be had been an ironmonger's assistant for about 28 years, but on the 17th August, 1892, he took over bis son's grocery business, in Mount Roskill Road, from his creditors ab -10s,in the £, payable in four quarterly instalments. He found out thab a considerable amount of the book debts were worthless, and debtor was a creditor in the estate to tho extenb of £150, money advanced to his son. Ho had only paid aboub £45 towards the purchase money of the business, and had been a resident in Auckland for 34 years. Debtor further stated he boughb a house in Valley Road, where he now resides, 13 years ago for £350, mortgaging ib for £300. Ten years ago he added two rooms and made other improvements aba cost of £200. The principal and £8 over due interesb (together £308) stand againsb ib, and his estimate of the present value was £320. The debtor stated his unsecured liability is £444 6s 2d. He estimates the stock in trade, horses, etc., ab £139 0s 3d j book dobbs (£204 2s 6d), good for £153 15s 8d; cash in hand, £5 12s 3d; household furniture, £18 16s; and surplus from eecuriby, £12; total, £329 4s 2d; deficiency, £115 2s. The furniture, valued at £18 16s, does not represent all thab is in the dwelling. The rest belonged to his wife and sosn, boughb with their own ''money. He had records of all receipts and disbursements, and would compile a full account in time for the firsb meeting on the 2Sth July.