STOREKEEPER'S FAILURE.

Auckland Star, Volume LIII, Issue 249, 20 October 1922, Page 7

STOREKEEPER'S FAILURE.

A BUSINESS SPECULATION. DKFICTT OK £1-') S. The initial meetiiift of areditors in thf, bankrupt estate of I'ercy -lohn l'it/-<.-erald was held ye-'"rday afternoon. the Official Assignee. Mr. \V. S. Fisher. presiding. The bankrupt'- fhedule showed a deficiency r,i" ! :l t;ie total dfl.is. to JJ'll S 4/1. the a--et- being estimated to pruilui-e C-i.".!) lit 111. The bankrupt -:ate 1 I i:it in April. 1922. he started a ■•ike ar.d c..n f • -tioilerv lusinces in 111.- \cv N.;- 'i !:■ ( I. Aii-k- ■ land, on <i tiiree year- iease «ith f2">fl. The prorosition was taken iim a- a speculation, tile bankrupt iiite::.iiii-j to spll out at a profit. lie c'.uu!^ ,n d ilu , 1 >11-i nr-s into a «1 in-kcp'-iii'.' vii • in .Inly when he found that be cuiibl not dis-p.-n i,', tiie con,em. The 'ny-liws nl-n prevented him fr-iin pip-liii" a sub-(livi-ii n c:- |i piv:iti"ii :■■■'! h' iilvay- felt the plao" wa- very im-. •:■:-.'. A Lfiieral slump i:i bii-in■■-- r-ir-il him in lose on tim ! ••«i:ir-i«, and c- i-nt ii.il'i re-ullcil in his tiii'i'.'. Tiie liai:krii|il wa- »x.iminril at Irnsth roßi-prnina hi. - a(- of jTit-. and at 'lie con.-I'ision f'lc 0!l'-ci;»i \--iviT' -aid that the bankrupt's evpluniticn- a- lo the manner ii whi>:i '•'••■■ ■■■:•■■ itsi I !.ad been used were un-a! i -fa-lni \ I! '■ ■•]'<] Put be a'.iie t.i Kill in :) fnvmir.il.li- report for his di.».-h.irjf».