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';■ „ THE WHIRLIGIG OF TDIE." . »« n <r of creditors in the estate) Sellon Sellon, mw --■'« £ - vras held at the office of ggsmgi-i i = si<rnee yesterday afternoon, m creditors present. Mr. R-^a_r«» elected to the chair - s liabilities -were set | 1 '-fr j. fj.o9 9/3- an d assets at nil. { " §lattribate"d his bankruptcy to inability | ; -'f -nhfin employment alter resigning j !&'__ oosition of mine manager. It { Silrinl a period or «teen months, I WNk he was unemployed, that his \ X accumulated. He afterwards ob- : teLd another position as mine manager | unable get ahead of himself." J I ri- to several of his creditors placing » iSroent orders on his salary he had * -found it impossible to retain his posi- j Vr Pallen, who appeared for the j -"'-nkrupt submitted that the case was j eo f pure hard luck. The debts were j ? -nrinciDallY wi«> hoteUceepers, with whom S 'fee bankrupt had boarded. The bank- <; I mpt was well known, and it was his one | | to annul the bankruptcy as soon -■; "possible. He had uo offer to make at "the present time. The speaker asked the 'creditors to extend leniency, it being merely-a case of "the whirligig of time." ■ Questioned by the chairman as to why le had not attended the previous meet- { '. jn».,the bankrupt explained that he had | not been able to obtain possession of the ( and papers. The chairman remarked that they had :_ 0 offer before them, but he believed that j l_ the bankrupt could pay in the future le would do so. He did not think the 'bankrupt was a good financial manager. Asked why he had not liquidated some : : of his debts whilst in the position of ; jnhie manager, the bankrupt, replied that , tie had done so to the extent of about .:.£5.0. Hr. Eobson moved that the Official Assignee be requested to facilitate the feharge <~f the bankrupt, this being -seconded by Mr. Macky. ; Mr: Gordon proposed an amendment to tie effect that the discharge be nov, j eranted. On it being pointed out that this was a direct negative, it was withdrawn, the mover remarking that he "considered they wanted their money if only at some future time. The motion was lost on the values of the claims, although a majority of those present favoured it. The meethicr was then adjourned sine die. A TAILOR'S ESTATE. Edward James Jlilnes, tailor, Thames, who has been adjudged a bankrupt, has : filed a statement with the Assignee, in - -which he attributes the immediate cause of his filing to the presure of creditors and the conviction that he could not reVcover his position. He states that in IS9I he started business with £30 borrowed money. He got along fairly well for a few years. In 1300 his shop was ■ broken into and £50 worth of goods "Btolen. In the same year he removed to other premises, and from then his business began to go down. In 1904 £30 worth of goods were stolen from'his shop. In ■ neither case wa3 the police investigations successful. In 1905 his wife mortgaged her home for £200, and the money - was lodged to the credit of his trade In 1906 he "met with an acci"7^£ R ' ni . ca laid liirn up for six months, 'and for another six months he was only sble to get about on crutches. This ' -rained his Christmas trade for that year. He had endeavoured to meet his obligations but had been unable to do so. Bankrupt's debts, according to the particulars furnish to the Assignee's omee, total £796 s/2, and his assets amount to £266 19/10. The creditors are all unsecured. The assets are: Stock-in-trade, £134 6/10; book debts **.7 13/-. furniture, £55; and other property £30 ■The deficit is £529 8/4. '

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Bibliographic details

THAMES BANKRUPTCIES., Auckland Star, Volume XL, Issue 72, 25 March 1909

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THAMES BANKRUPTCIES. Auckland Star, Volume XL, Issue 72, 25 March 1909

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