BANKRUPTCY BUSINESS.

Auckland Star, Volume XLVIII, Issue 36, 10 February 1917, Page 6

BANKRUPTCY BUSINESS.

TE KUrn BUTCHER'S TROUBLES.

Richard Bannister Weavers, butcher, of Te Kuiti, has submitted a schedule to the Official Assignee in bankruptcy showing luneecured creditors £825 6/4, secured £107 1/9, surplus over security given, estimated at £12 18/3. The assets are: Stock in trade, £217 10/; book debts (£427), estimated to produce JE329; cash in hand, £1 5/6; surplus from eecurities, £12 18/3; total, £560 13/9. Referring- to'causes of bankruptcy, the debtor states he started business in February 1, 1915, with £80 capital. He had one delivery cart with a boy to help, but had no sihop. Two months later he got a second cart, and employed a man to cope with the business. Twelve months ago he opened a chop at Te Kuati, and employed tliree, and sometimes four 'hands. At first he did very wefl, but the book debts mounted up. Owing to- hie small capital to ■begin with he was unable to buy in tihe 'best markets. He attributed ihis present position to book debts, high cost of stock, and heavy working expenses, Five months ago he lost pigs £21 by sickness.

STOREKEEPER'S FAILURE.

Alfred Edward Hallay, storekeeper, of Onerabi, has furnished to the Official tAeedgnee a statement showing unsecured creditors £1271 12/9. The assets were: stock in trade, £300; book debts (£200), estimated to produce £160; cash, £57 16/8; total, £517 16/8.