GUM-BUYER'S BANKRUPTCY.

Auckland Star, Volume XXXIX, Issue 252, 21 October 1908, Page 3

GUM-BUYER'S BANKRUPTCY.

A meeting of creditors was held at the office of the Official Assignee, Mr. E Gerard, this morning, in connection with the bankruptcy of Marino Joseph Glavaah. a young Austrian gum-buyer. -Bankrupt stated that he -borrowed money to start business as a buyer of gum. on the gum fields. Poor speculation, and a falling market, landed him in financial difficulties, with the rrault th»t he failed. On coming to Auckland, he worked in a boarding house from 6 o'clock in the morning until 9 at night, including Sundays, for 15/- a week and his keep. The work was too hard, and he gave up the position to accept another in a bake-house. He was now working seven and eight hours a day for 10/- per week and his keep. The Official Assignee! Evidently there are some people in Auckland anxious to secure a lot of work for very little money. Glavash said he was desirous of gaining a position which would enable him to earn a fair wage, and pay his creditors 20/- in the £. Glavash's statement 'was to. the effect that the amount owing to unsecured creditors was £161, while his assets were £59 in book debts, and 14/- in cash. The meeting adjourned, sine die.