A TAUMARUNUI FAILURE.

Auckland Star, Volume XLIII, Issue 311, 30 December 1912, Page 7

A TAUMARUNUI FAILURE.

SADDLER ASSIGNS HIS STOCK. Peter Wilkie. of Taumarunui, saddler, was called before his creditors at the office of tho Official Assignee (Mr W. S. Fisher) this afternoon. Wilkie estimated his stock to be worth at the date of assignment (November 12) £209 13/5. and his book debts £05 3/6. His liabilities were estimated at £.'IBO 14/, leaving a deficiency of £84 17/1. He stated that he had been in business for 18 months, also that in February last a fire destroyed practically the whole of his stock. This was valued at £120, but as some was only partially damaged, the insurance company would not allow him more than £80 compensation. Ever since the fire he had been losing ground financially, and at last was forced to assign his estate with the Commercial Agency Company, Wellington. The Assignee said that the bankrupt had failed to comply with the requirements of the Bankruptcy Act in the matter of furnishing a statement of his financial position. The Assignee asked Wilkie why he did not comply with the demand of Auckland creditors to file bis petition. Wilkie replied that he had consulted an Auckland solicitor, and been told it was not necessary. The Assignee: That seems to mc a very hiirh-handed action for a solicitor to take, Wilkie said he suggested assigning in Auckland, but the solicitor took the matter into his own hands. Rep]vin<- to a creditor, he admitted an interest in a block of native land. The meeting was adjourned pending further inquiries by the Assignee.