STARTED WITH £2 CAPITAL

Auckland Star, Volume XLVII, Issue 167, 14 July 1916, Page 6

STARTED WITH £2 CAPITAL

i . AUCKLAND DRAINER'S FAILTJRIi John Marten, labourer, of Violet ' Street, Eden Terrace, formerly in business as a drainage contractor, has fiW ' his petition \n 'bankruptcy, showing un- ' Sfcured debte of £125 12/11, and asests ' (the value of his furniture) of £5. ' The bankrupt, in his filed statement, ! stated that he started on his own ac- ' count as a drainer two years ago tvith £2 capital. For a while he just cleared expenses in the small contracts he took, but owing to the rapid increase in the 1 price of materials and the cost of plunibiug he began to lose. He went on, bowever, in the hope of retrieving the posii tion, but, owing to the war, his wife'e 1 illnees and death, and his own illnees he ' was compelled to give up. Recently he i Jiad been working on wages trying to , l, off his-creditors. s The first meeting of creditors is to- be l»ddr en-Xhurfiday, the" 20th inst,