IN BANKRUPTCY.

Auckland Star, Volume XXXV, Issue 37, 12 February 1904, Page 3

IN BANKRUPTCY.

Robert James Fergus, adjudicated a bankrupt yesterday, in his sworn statement sets out that his total debts ere £400, and assets £;J75, leaving a deficiency of £25. He had always paid 20/ in the £. and this was his first bankruptcy. "When lie took tile lease with the house at Kunieu lie had £1100 and no debts. He realised £1000 out of property uxtd had £100 in. cask besides. Hβ spent about £300 on fen-cinq and clearing; material aione, and about £ISO in wajjes. He spent about £17C> on the purchase ot gold-mining shares, and had practically n& return from rhe farm. After allowing for £160 paid in rent, the cost of living for the lust two years 'amounted to £322. lie kept a governess for the girl, and one man a. , I the time at £1 per week and found, ana another for 12 months at 30/ a week. The immediate cause of bankruptev was a judgment summons for £45 by a creditor. Arnaud Mayall's sworn statement is to tie effect tbat wiien lie started in, the boot business at Whangarei in SiarehJ 190: , ., he had £50 of his own and got £oO'lroni hi* wife, putting the whole into the business. He.had then liabilities amounting to about £200. but assets to cover that, lenving the surplus of the £1,00 mentioned. In May he bought a 'grocery store in 'Reniuera, paving £l~>o for the goodwill and £473 fifr stock and piant. The business did not come up to expectations, and he sold out for £44r>. The Whangarei business yielded £60 ia nine nionchs. out of which he had to pay for the stoc-k. "When sold it realises. £195. His eldest s"oii conducted this business 1 onS paid the current /?xpensps. He was -not a pt.rtn'or. but as he intended him to have the business no amount was stipu atert for his drawings.